XSTB.TO vs. TCSH.TO
XSTB.TO (iShares ESG Aware Canadian Short Term Bond Index ETF) and TCSH.TO (TD Cash Management ETF) are both Canadian Government Bonds funds. XSTB.TO is passively managed, while TCSH.TO is actively managed. Over the past year, XSTB.TO returned 2.70% vs 2.65% for TCSH.TO. At a 0.17 correlation, their price movements are largely independent. XSTB.TO charges 0.17%/yr vs 0.16%/yr for TCSH.TO.
Performance
XSTB.TO vs. TCSH.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with XSTB.TO having a 0.89% return and TCSH.TO slightly lower at 0.85%.
XSTB.TO
- 1D
- -0.08%
- 1M
- 0.80%
- YTD
- 0.89%
- 6M
- 0.62%
- 1Y
- 2.70%
- 3Y*
- 4.44%
- 5Y*
- 1.93%
- 10Y*
- —
TCSH.TO
- 1D
- 0.00%
- 1M
- 0.23%
- YTD
- 0.85%
- 6M
- 1.17%
- 1Y
- 2.65%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XSTB.TO vs. TCSH.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
XSTB.TO iShares ESG Aware Canadian Short Term Bond Index ETF | 0.89% | 3.60% | 5.84% |
TCSH.TO TD Cash Management ETF | 0.85% | 3.09% | 4.37% |
Correlation
The correlation between XSTB.TO and TCSH.TO is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Feb 23, 2024 | 0.17 |
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Return for Risk
XSTB.TO vs. TCSH.TO — Risk / Return Rank
XSTB.TO
TCSH.TO
XSTB.TO vs. TCSH.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 TD Cash Management ETF (TCSH.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 | TCSH.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.33 | ||
| Sortino ratioReturn per unit of downside risk | -8.74 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 2.87 | -1.58 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 26.63 | -24.63 |
| Martin ratioReturn relative to average drawdown | 6.08 | 108.17 | -102.09 |
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 | TCSH.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.46 | 5.79 | -4.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.77 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | 5.33 | -4.54 |
Drawdowns
XSTB.TO vs. TCSH.TO - Drawdown Comparison
The maximum XSTB.TO drawdown since its inception was -6.92%, which is greater than TCSH.TO's maximum drawdown of -0.54%. Use the drawdown chart below to compare losses from any high point for XSTB.TO and TCSH.TO.
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Drawdown Indicators
| XSTB.TO | TCSH.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.92% | -0.54% | -6.38% |
Max Drawdown (1Y)Largest decline over 1 year | -1.35% | -0.10% | -1.25% |
Max Drawdown (3Y)Largest decline over 3 years | -1.35% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -6.76% | — | — |
Current DrawdownCurrent decline from peak | -0.24% | 0.00% | -0.24% |
Average DrawdownAverage peak-to-trough decline | -1.42% | -0.01% | -1.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.45% | 0.02% | +0.43% |
Volatility
XSTB.TO vs. TCSH.TO - Volatility Comparison
iShares ESG Aware Canadian Short Term Bond Index ETF (XSTB.TO) has a higher volatility of 0.69% compared to TD Cash Management ETF (TCSH.TO) at 0.11%. This indicates that XSTB.TO's price experiences larger fluctuations and is considered to be riskier than TCSH.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 | TCSH.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.69% | 0.11% | +0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 1.51% | 0.37% | +1.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.86% | 0.46% | +1.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.53% | 0.69% | +1.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.72% | 0.69% | +2.03% |
XSTB.TO vs. TCSH.TO - Expense Ratio Comparison
XSTB.TO has a 0.17% expense ratio, which is higher than TCSH.TO's 0.16% 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. TCSH.TO - Dividend Comparison
XSTB.TO's dividend yield for the trailing twelve months is around 2.88%, more than TCSH.TO's 2.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
TCSH.TO TD Cash Management ETF | 2.59% | 3.03% | 4.21% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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% |
Frequently Asked Questions
XSTB.TO and TCSH.TO have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TCSH.TO is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TCSH.TO is cheaper with a 0.16% expense ratio, compared with 0.17% for XSTB.TO.
They also come from different issuers: iShares and TD. Their fees differ too: 0.17% for XSTB.TO and 0.16% for TCSH.TO.
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