XSI.TO vs. XIC.TO

Last updated Jun 4, 2026

XSI.TO (iShares Short Term Strategic Fixed Income ETF) and XIC.TO (iShares Core S&P/TSX Capped Composite Index ETF) are both exchange-traded funds - XSI.TO is a High Yield Bonds fund tracking the Morningstar Gbl HY Bd GR CAD, while XIC.TO is a Canada Equities fund tracking the S&P/TSX Capped Composite Index. Both are passively managed. Over the past 10 years, XSI.TO returned 2.25%/yr vs 12.48%/yr for XIC.TO. At a 0.26 correlation, their price movements are largely independent. XSI.TO charges 0.55%/yr vs 0.06%/yr for XIC.TO.

Performance

XSI.TO vs. XIC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Short Term Strategic Fixed Income ETF (XSI.TO) and iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XSI.TO achieves a 0.57% return, which is significantly lower than XIC.TO's 10.75% return. Over the past 10 years, XSI.TO has underperformed XIC.TO with an annualized return of 2.25%, while XIC.TO has yielded a comparatively higher 12.48% annualized return.

XSI.TO

• 1D: -0.18%
• 1M: 0.70%
• YTD: 0.57%
• 6M: 0.38%
• 1Y: 3.10%
• 3Y*: 4.94%
• 5Y*: 1.63%
• 10Y*: 2.25%

XIC.TO

• 1D: -1.05%
• 1M: 3.59%
• YTD: 10.75%
• 6M: 12.90%
• 1Y: 34.79%
• 3Y*: 23.62%
• 5Y*: 14.60%
• 10Y*: 12.48%

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

XSI.TO vs. XIC.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XSI.TO iShares Short Term Strategic Fixed Income ETF	0.57%	3.82%	5.36%	7.51%	-8.90%	0.59%	3.70%	7.09%	-1.07%	2.94%
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF	10.75%	31.51%	21.48%	11.73%	-5.82%	23.42%	5.61%	22.76%	-8.72%	8.99%

Correlation

The correlation between XSI.TO and XIC.TO is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (10Y) Calculated over the trailing 10-year period	0.25
Correlation (All Time) Calculated using the full available price history since Feb 4, 2015	0.26

XSI.TO vs. XIC.TO - Sectors Allocation Comparison

Sectors	XSI.TO	XIC.TO
Utilities	93.3%	2.9%
Real Estate	6.7%	1.5%
Basic Materials	-	17.2%
Communication Services	-	1.8%
Consumer Cyclical	-	3.7%
Consumer Defensive	-	2.9%
Energy	-	18.1%
Financial Services	-	34.0%
Healthcare	-	0.1%
Industrials	-	10.0%
Technology	-	6.7%

Return for Risk

XSI.TO vs. XIC.TO — Risk / Return Rank

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

XSI.TO

XSI.TO Risk / Return Rank: 26
XSI.TO Sharpe Ratio Rank: 26
XSI.TO Sortino Ratio Rank: 24
XSI.TO Omega Ratio Rank: 25
XSI.TO Calmar Ratio Rank: 27
XSI.TO Martin Ratio Rank: 29

XIC.TO

XIC.TO Risk / Return Rank: 80
XIC.TO Sharpe Ratio Rank: 83
XIC.TO Sortino Ratio Rank: 78
XIC.TO Omega Ratio Rank: 81
XIC.TO Calmar Ratio Rank: 73
XIC.TO Martin Ratio Rank: 83

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.

XSI.TO vs. XIC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Short Term Strategic Fixed Income ETF (XSI.TO) and iShares Core S&P/TSX Capped Composite Index ETF (XIC.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.

	XSI.TO	XIC.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.87	2.76	-1.89
Sortino ratio: Return per unit of downside risk	1.27	3.57	-2.30
Omega ratio: Gain probability vs. loss probability	1.16	1.50	-0.33
Calmar ratio: Return relative to maximum drawdown	1.29	3.76	-2.48
Martin ratio: Return relative to average drawdown	3.94	17.44	-13.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XSI.TO vs. XIC.TO - Sharpe Ratio Comparison

The current XSI.TO Sharpe Ratio is 0.87, which is lower than the XIC.TO Sharpe Ratio of 2.76. The chart below compares the historical Sharpe Ratios of XSI.TO and XIC.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XSI.TO	XIC.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.87	2.76	-1.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	1.12	-0.73
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	0.84	-0.45
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.54	-0.20

Drawdowns

XSI.TO vs. XIC.TO - Drawdown Comparison

The maximum XSI.TO drawdown since its inception was -18.53%, smaller than the maximum XIC.TO drawdown of -48.21%. Use the drawdown chart below to compare losses from any high point for XSI.TO and XIC.TO.

Drawdown Indicators

	XSI.TO	XIC.TO	Difference
Max Drawdown Largest peak-to-trough decline	-18.53%	-48.21%	+29.68%
Max Drawdown (1Y) Largest decline over 1 year	-2.42%	-9.29%	+6.87%
Max Drawdown (3Y) Largest decline over 3 years	-2.84%	-12.27%	+9.43%
Max Drawdown (5Y) Largest decline over 5 years	-12.03%	-16.24%	+4.21%
Max Drawdown (10Y) Largest decline over 10 years	-18.53%	-37.21%	+18.68%
Current Drawdown Current decline from peak	-0.69%	-1.05%	+0.36%
Average Drawdown Average peak-to-trough decline	-2.26%	-7.04%	+4.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.79%	2.00%	-1.21%

Volatility

XSI.TO vs. XIC.TO - Volatility Comparison

The current volatility for iShares Short Term Strategic Fixed Income ETF (XSI.TO) is 1.39%, while iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO) has a volatility of 3.48%. This indicates that XSI.TO experiences smaller price fluctuations and is considered to be less risky than XIC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSI.TO	XIC.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.39%	3.48%	-2.09%
Volatility (6M) Calculated over the trailing 6-month period	2.99%	10.33%	-7.34%
Volatility (1Y) Calculated over the trailing 1-year period	3.59%	12.67%	-9.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.25%	13.13%	-8.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.81%	14.96%	-9.15%

XSI.TO vs. XIC.TO - Expense Ratio Comparison

XSI.TO has a 0.55% expense ratio, which is higher than XIC.TO's 0.06% expense ratio.

Dividends

XSI.TO vs. XIC.TO - Dividend Comparison

XSI.TO's dividend yield for the trailing twelve months is around 4.36%, more than XIC.TO's 2.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF	2.02%	2.23%	2.64%	2.95%	3.10%	2.44%	3.03%	3.01%	3.19%	2.49%	2.72%	3.21%
XSI.TO iShares Short Term Strategic Fixed Income ETF	4.36%	4.42%	4.43%	4.28%	3.49%	2.88%	3.04%	3.41%	3.31%	3.22%	3.30%	3.60%

Frequently Asked Questions

Can I hold both XSI.TO and XIC.TO in my portfolio?

XSI.TO and XIC.TO have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XSI.TO or XIC.TO?

On fees, XIC.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XSI.TO or XIC.TO?

XIC.TO is cheaper with a 0.06% expense ratio, compared with 0.55% for XSI.TO.

What is the main difference between XSI.TO and XIC.TO?

XSI.TO is categorized as High Yield Bonds, while XIC.TO is Canada Equities. XSI.TO tracks Morningstar Gbl HY Bd GR CAD, while XIC.TO tracks S&P/TSX Capped Composite Index. Their fees differ too: 0.55% for XSI.TO and 0.06% for XIC.TO.