XSTB.TO vs. CMR.TO
XSTB.TO (iShares ESG Aware Canadian Short Term Bond Index ETF) and CMR.TO (iShares Premium Money Market ETF) are both exchange-traded funds - XSTB.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD, while CMR.TO is a Money Market fund actively managed by iShares. XSTB.TO is passively managed, while CMR.TO is actively managed. Over the past 5 years, XSTB.TO returned 1.93%/yr vs 2.94%/yr for CMR.TO. At a 0.03 correlation, their price movements are largely independent. XSTB.TO charges 0.17%/yr vs 0.14%/yr for CMR.TO.
Performance
XSTB.TO vs. CMR.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XSTB.TO achieves a 0.89% return, which is significantly lower than CMR.TO's 0.97% 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*
- —
CMR.TO
- 1D
- 0.00%
- 1M
- 0.19%
- YTD
- 0.97%
- 6M
- 1.05%
- 1Y
- 2.37%
- 3Y*
- 3.73%
- 5Y*
- 2.94%
- 10Y*
- 1.89%
XSTB.TO vs. CMR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
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% |
CMR.TO iShares Premium Money Market ETF | 0.97% | 2.68% | 4.70% | 4.70% | 1.71% | 0.00% | 0.47% | 1.14% |
Correlation
The correlation between XSTB.TO and CMR.TO is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2019 | 0.03 |
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Return for Risk
XSTB.TO vs. CMR.TO — Risk / Return Rank
XSTB.TO
CMR.TO
XSTB.TO vs. CMR.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 Premium Money Market ETF (CMR.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.TO | CMR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.15 | ||
| Sortino ratioReturn per unit of downside risk | -19.12 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 9.57 | -8.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 25.44 | -23.43 |
| Martin ratioReturn relative to average drawdown | 6.08 | 187.33 | -181.24 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XSTB.TO | CMR.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.46 | 10.61 | -9.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.77 | 10.67 | -9.91 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 7.02 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | 3.84 | -3.05 |
Drawdowns
XSTB.TO vs. CMR.TO - Drawdown Comparison
The maximum XSTB.TO drawdown since its inception was -6.92%, which is greater than CMR.TO's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for XSTB.TO and CMR.TO.
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Drawdown Indicators
| XSTB.TO | CMR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.92% | -0.52% | -6.40% |
Max Drawdown (1Y)Largest decline over 1 year | -1.35% | -0.09% | -1.26% |
Max Drawdown (3Y)Largest decline over 3 years | -1.35% | -0.09% | -1.26% |
Max Drawdown (5Y)Largest decline over 5 years | -6.76% | -0.09% | -6.67% |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.14% | — |
Current DrawdownCurrent decline from peak | -0.24% | -0.02% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -1.42% | -0.01% | -1.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.45% | 0.01% | +0.44% |
Volatility
XSTB.TO vs. CMR.TO - Volatility Comparison
iShares ESG Aware Canadian Short Term Bond Index ETF (XSTB.TO) has a higher volatility of 0.69% compared to iShares Premium Money Market ETF (CMR.TO) at 0.05%. This indicates that XSTB.TO's price experiences larger fluctuations and is considered to be riskier than CMR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XSTB.TO | CMR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.69% | 0.05% | +0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 1.51% | 0.18% | +1.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.86% | 0.22% | +1.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.53% | 0.28% | +2.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.72% | 0.27% | +2.45% |
XSTB.TO vs. CMR.TO - Expense Ratio Comparison
XSTB.TO has a 0.17% expense ratio, which is higher than CMR.TO's 0.14% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XSTB.TO vs. CMR.TO - Dividend Comparison
XSTB.TO's dividend yield for the trailing twelve months is around 2.88%, more than CMR.TO's 2.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMR.TO iShares Premium Money Market ETF | 2.48% | 2.81% | 4.56% | 4.64% | 1.62% | 0.00% | 0.47% | 1.60% | 1.33% | 0.61% | 0.43% | 0.48% |
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 CMR.TO have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CMR.TO is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CMR.TO is cheaper with a 0.14% expense ratio, compared with 0.17% for XSTB.TO.
XSTB.TO is categorized as Canadian Government Bonds, while CMR.TO is Money Market. Their fees differ too: 0.17% for XSTB.TO and 0.14% for CMR.TO.
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