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XSTB.TO vs. CLF.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XSTB.TO vs. CLF.TO

Last updated Jun 4, 2026

XSTB.TO (iShares ESG Aware Canadian Short Term Bond Index ETF) and CLF.TO (iShares 1-5 Year Laddered Government Bond Index ETF) are both Canadian Government Bonds funds from iShares tracking the Morningstar Can 1-5Y Core Bd GR CAD. Both are passively managed. Over the past 5 years, XSTB.TO returned 1.93%/yr vs 1.72%/yr for CLF.TO. A 0.63 correlation means they provide meaningful diversification when combined. Both charge a 0.17% expense ratio.

Performance

XSTB.TO vs. CLF.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares ESG Aware Canadian Short Term Bond Index ETF (XSTB.TO) and iShares 1-5 Year Laddered Government Bond Index ETF (CLF.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XSTB.TO achieves a 0.89% return, which is significantly higher than CLF.TO's 0.83% return.

XSTB.TO

1D
-0.08%
1M
0.80%
YTD
0.89%
6M
0.62%
1Y
2.70%
3Y*
4.44%
5Y*
1.93%
10Y*
—

CLF.TO

1D
-0.11%
1M
0.76%
YTD
0.83%
6M
0.50%
1Y
2.45%
3Y*
4.12%
5Y*
1.72%
10Y*
1.81%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XSTB.TO vs. CLF.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
XSTB.TO
iShares ESG Aware Canadian Short Term Bond Index ETF		0.89%3.60%5.28%4.86%-3.91%-1.12%4.95%1.18%
CLF.TO
iShares 1-5 Year Laddered Government Bond Index ETF		0.83%3.36%4.82%4.58%-3.98%-1.27%5.53%1.76%

Correlation

The correlation between XSTB.TO and CLF.TO is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.73

Correlation (3Y)
Calculated over the trailing 3-year period

0.69

Correlation (5Y)
Calculated over the trailing 5-year period

0.73

Correlation (All Time)
Calculated using the full available price history since Apr 11, 2019

0.63

The correlation between XSTB.TO and CLF.TO has been stable across timeframes, ranging from 0.63 to 0.73 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares ESG Aware Canadian Short Term Bond Index ETF

iShares 1-5 Year Laddered Government Bond Index ETF

Often compared with XSTB.TO:
XSTB.TO vs. XSTH.TOXSTB.TO vs. XSAB.TOXSTB.TO vs. BNDXSTB.TO vs. XCSR.TOXSTB.TO vs. XSHG.TOXSTB.TO vs. ZST.TOXSTB.TO vs. GCNS.TO
Often compared with CLF.TO:
CLF.TO vs. XGB.TOCLF.TO vs. XSH.TOCLF.TO vs. TLTCLF.TO vs. XBB.TOCLF.TO vs. CBIL.TOCLF.TO vs. SPYCLF.TO vs. ZSP.TO

Return for Risk

XSTB.TO vs. CLF.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XSTB.TO
XSTB.TO Risk / Return Rank: 4141
Overall Rank
XSTB.TO Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
XSTB.TO Sortino Ratio Rank: 3939
Sortino Ratio Rank
XSTB.TO Omega Ratio Rank: 4545
Omega Ratio Rank
XSTB.TO Calmar Ratio Rank: 4141
Calmar Ratio Rank
XSTB.TO Martin Ratio Rank: 3939
Martin Ratio Rank
CLF.TO
CLF.TO Risk / Return Rank: 3333
Overall Rank
CLF.TO Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
CLF.TO Sortino Ratio Rank: 3030
Sortino Ratio Rank
CLF.TO Omega Ratio Rank: 3333
Omega Ratio Rank
CLF.TO Calmar Ratio Rank: 3636
Calmar Ratio Rank
CLF.TO Martin Ratio Rank: 3434
Martin Ratio Rank
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.

XSTB.TO vs. CLF.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Aware Canadian Short Term Bond Index ETF (XSTB.TO) and iShares 1-5 Year Laddered Government Bond Index ETF (CLF.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.

XSTB.TOCLF.TODifference
Sharpe ratioReturn per unit of total volatility
1.46
1.20

+0.25

Sortino ratioReturn per unit of downside risk
2.01
1.65

+0.36

Omega ratioGain probability vs. loss probability

1.29

1.23

+0.06

Calmar ratioReturn relative to maximum drawdown

2.01

1.78

+0.23

Martin ratioReturn relative to average drawdown

6.08

5.12

+0.96

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XSTB.TO vs. CLF.TO - Sharpe Ratio Comparison

The current XSTB.TO Sharpe Ratio is 1.46, which is comparable to the CLF.TO Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of XSTB.TO and CLF.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.

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Sharpe Ratios by Period

XSTB.TOCLF.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.46

1.20

+0.25

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.77

0.58

+0.18

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.54

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.79

0.72

+0.07

Drawdowns

XSTB.TO vs. CLF.TO - Drawdown Comparison

The maximum XSTB.TO drawdown since its inception was -6.92%, roughly equal to the maximum CLF.TO drawdown of -6.91%. Use the drawdown chart below to compare losses from any high point for XSTB.TO and CLF.TO.

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Drawdown Indicators

XSTB.TOCLF.TODifference

Max Drawdown

Largest peak-to-trough decline

-6.92%

-6.91%

-0.01%

Max Drawdown (1Y)

Largest decline over 1 year

-1.35%

-1.38%

+0.03%

Max Drawdown (3Y)

Largest decline over 3 years

-1.35%

-1.42%

+0.07%

Max Drawdown (5Y)

Largest decline over 5 years

-6.76%

-6.80%

+0.04%

Max Drawdown (10Y)

Largest decline over 10 years

—

-6.91%

—

Current Drawdown

Current decline from peak

-0.24%

-0.34%

+0.10%

Average Drawdown

Average peak-to-trough decline

-1.42%

-1.08%

-0.34%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.45%

0.48%

-0.03%

Volatility

XSTB.TO vs. CLF.TO - Volatility Comparison

iShares ESG Aware Canadian Short Term Bond Index ETF (XSTB.TO) and iShares 1-5 Year Laddered Government Bond Index ETF (CLF.TO) have volatilities of 0.69% and 0.72%, 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.

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Volatility by Period

XSTB.TOCLF.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.69%

0.72%

-0.03%

Volatility (6M)

Calculated over the trailing 6-month period

1.51%

1.62%

-0.11%

Volatility (1Y)

Calculated over the trailing 1-year period

1.86%

2.04%

-0.18%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

2.53%

2.98%

-0.45%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

2.72%

3.37%

-0.65%

XSTB.TO vs. CLF.TO - Expense Ratio Comparison

Both XSTB.TO and CLF.TO have an expense ratio of 0.17%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

XSTB.TO vs. CLF.TO - Dividend Comparison

XSTB.TO's dividend yield for the trailing twelve months is around 2.88%, more than CLF.TO's 2.25% yield.

PositionTTM20252024202320222021202020192018201720162015
CLF.TO
iShares 1-5 Year Laddered Government Bond Index ETF		2.25%2.22%2.22%2.23%2.10%1.98%2.81%3.93%2.67%2.91%3.12%3.29%
XSTB.TO
iShares ESG Aware Canadian Short Term Bond Index ETF		2.88%2.88%2.64%2.22%1.93%1.82%2.10%1.83%0.00%0.00%0.00%0.00%

Frequently Asked Questions

XSTB.TO and CLF.TO have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Both ETFs have the same 0.17% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

XSTB.TO and CLF.TO have the same expense ratio: 0.17% per year.

Both ETFs track Morningstar Can 1-5Y Core Bd GR CAD.

Portfolio Optimizer

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