XSHG.TO vs. ZBI.TO

Last updated Apr 1, 2026

Compare and contrast key facts about iShares ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF (XSHG.TO) and BMO Canadian Bank Income Index ETF (ZBI.TO).

XSHG.TO and ZBI.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XSHG.TO is a passively managed fund by iShares that tracks the performance of the Morningstar Can 1-5Y Core Bd GR CAD. It was launched on Aug 6, 2021. ZBI.TO is a passively managed fund by BMO that tracks the performance of the Solactive Canadian Bank Income Index. It was launched on Feb 7, 2022. Both XSHG.TO and ZBI.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XSHG.TO vs. ZBI.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF (XSHG.TO) and BMO Canadian Bank Income Index ETF (ZBI.TO). The values are adjusted to include any dividend payments, if applicable.

XSHG.TO vs. ZBI.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XSHG.TO iShares ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF	0.10%	4.53%	6.86%	6.41%	-3.18%
ZBI.TO BMO Canadian Bank Income Index ETF	0.55%	5.10%	12.50%	6.85%	-7.01%

Returns By Period

In the year-to-date period, XSHG.TO achieves a 0.10% return, which is significantly lower than ZBI.TO's 0.55% return.

XSHG.TO

• 1D: 0.15%
• 1M: -0.90%
• YTD: 0.10%
• 6M: 0.65%
• 1Y: 3.02%
• 3Y*: 5.36%
• 5Y*: —
• 10Y*: —

ZBI.TO

• 1D: 0.16%
• 1M: -0.52%
• YTD: 0.55%
• 6M: 1.16%
• 1Y: 4.75%
• 3Y*: 7.83%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

XSHG.TO vs. ZBI.TO - Expense Ratio Comparison

XSHG.TO has a 0.17% expense ratio, which is lower than ZBI.TO's 0.28% expense ratio.

ZBI.TO

BMO Canadian Bank Income Index ETF

XSHG.TO

iShares ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF

Return for Risk

XSHG.TO vs. ZBI.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XSHG.TO

XSHG.TO Risk / Return Rank: 83
XSHG.TO Sharpe Ratio Rank: 82
XSHG.TO Sortino Ratio Rank: 84
XSHG.TO Omega Ratio Rank: 85
XSHG.TO Calmar Ratio Rank: 79
XSHG.TO Martin Ratio Rank: 83

ZBI.TO

ZBI.TO Risk / Return Rank: 94
ZBI.TO Sharpe Ratio Rank: 92
ZBI.TO Sortino Ratio Rank: 94
ZBI.TO Omega Ratio Rank: 95
ZBI.TO Calmar Ratio Rank: 94
ZBI.TO Martin Ratio Rank: 95

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XSHG.TO vs. ZBI.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF (XSHG.TO) and BMO Canadian Bank Income Index ETF (ZBI.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	XSHG.TO	ZBI.TO	Difference
Sharpe ratio Return per unit of total volatility	1.59	2.09	-0.50
Sortino ratio Return per unit of downside risk	2.24	2.97	-0.72
Omega ratio Gain probability vs. loss probability	1.34	1.47	-0.13
Calmar ratio Return relative to maximum drawdown	2.18	3.71	-1.54
Martin ratio Return relative to average drawdown	9.28	15.19	-5.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XSHG.TO vs. ZBI.TO - Sharpe Ratio Comparison

The current XSHG.TO Sharpe Ratio is 1.59, which is comparable to the ZBI.TO Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of XSHG.TO and ZBI.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XSHG.TO	ZBI.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	2.09	-0.50
Sharpe Ratio (All Time) Calculated using the full available price history	0.96	1.12	-0.15

Correlation

The correlation between XSHG.TO and ZBI.TO is 0.26, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

XSHG.TO vs. ZBI.TO - Dividend Comparison

XSHG.TO's dividend yield for the trailing twelve months is around 3.72%, less than ZBI.TO's 4.28% yield.

	TTM	2025	2024	2023	2022	2021
XSHG.TO iShares ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF	3.72%	3.64%	3.39%	2.87%	2.69%	0.81%
ZBI.TO BMO Canadian Bank Income Index ETF	4.28%	4.01%	3.36%	3.58%	2.66%	0.00%

Drawdowns

XSHG.TO vs. ZBI.TO - Drawdown Comparison

The maximum XSHG.TO drawdown since its inception was -7.40%, smaller than the maximum ZBI.TO drawdown of -8.22%. Use the drawdown chart below to compare losses from any high point for XSHG.TO and ZBI.TO.

Drawdown Indicators

	XSHG.TO	ZBI.TO	Difference
Max Drawdown Largest peak-to-trough decline	-7.40%	-8.22%	+0.82%
Max Drawdown (1Y) Largest decline over 1 year	-1.44%	-1.25%	-0.19%
Current Drawdown Current decline from peak	-0.90%	-0.57%	-0.33%
Average Drawdown Average peak-to-trough decline	-1.89%	-2.34%	+0.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.34%	0.31%	+0.03%

Volatility

XSHG.TO vs. ZBI.TO - Volatility Comparison

iShares ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF (XSHG.TO) and BMO Canadian Bank Income Index ETF (ZBI.TO) have volatilities of 0.95% and 0.93%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSHG.TO	ZBI.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.95%	0.93%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	1.33%	1.45%	-0.12%
Volatility (1Y) Calculated over the trailing 1-year period	1.91%	2.28%	-0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.81%	3.70%	-0.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.81%	3.70%	-0.89%