XSTB.TO vs. XAW.TO
XSTB.TO (iShares ESG Aware Canadian Short Term Bond Index ETF) and XAW.TO (iShares Core MSCI All Country World ex Canada Index 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 XAW.TO is a Global Equities fund tracking the Morningstar Gbl GR CAD. Both are passively managed. Over the past 5 years, XSTB.TO returned 1.93%/yr vs 13.96%/yr for XAW.TO. At a 0.14 correlation, their price movements are largely independent. XSTB.TO charges 0.17%/yr vs 0.22%/yr for XAW.TO.
Performance
XSTB.TO vs. XAW.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 XAW.TO's 13.70% 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*
- —
XAW.TO
- 1D
- -0.37%
- 1M
- 7.13%
- YTD
- 13.70%
- 6M
- 12.70%
- 1Y
- 30.51%
- 3Y*
- 21.73%
- 5Y*
- 13.96%
- 10Y*
- 13.22%
XSTB.TO vs. XAW.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% |
XAW.TO iShares Core MSCI All Country World ex Canada Index ETF | 13.70% | 15.87% | 26.31% | 18.45% | -11.84% | 18.38% | 12.37% | 7.12% |
Correlation
The correlation between XSTB.TO and XAW.TO is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2019 | 0.14 |
Over the past year, XSTB.TO and XAW.TO have become more correlated (0.36) than their long-term average of 0.14, meaning their price movements have been converging.
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Return for Risk
XSTB.TO vs. XAW.TO — Risk / Return Rank
XSTB.TO
XAW.TO
XSTB.TO vs. XAW.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 Core MSCI All Country World ex Canada Index ETF (XAW.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 | XAW.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.05 | ||
| Sortino ratioReturn per unit of downside risk | -1.48 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.48 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 3.76 | -1.75 |
| Martin ratioReturn relative to average drawdown | 6.08 | 15.15 | -9.07 |
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 | XAW.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.46 | 2.50 | -1.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.77 | 1.04 | -0.27 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.88 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | 0.78 | +0.01 |
Drawdowns
XSTB.TO vs. XAW.TO - Drawdown Comparison
The maximum XSTB.TO drawdown since its inception was -6.92%, smaller than the maximum XAW.TO drawdown of -27.32%. Use the drawdown chart below to compare losses from any high point for XSTB.TO and XAW.TO.
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Drawdown Indicators
| XSTB.TO | XAW.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.92% | -27.32% | +20.40% |
Max Drawdown (1Y)Largest decline over 1 year | -1.35% | -8.16% | +6.81% |
Max Drawdown (3Y)Largest decline over 3 years | -1.35% | -16.66% | +15.31% |
Max Drawdown (5Y)Largest decline over 5 years | -6.76% | -21.02% | +14.26% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.32% | — |
Current DrawdownCurrent decline from peak | -0.24% | -0.37% | +0.13% |
Average DrawdownAverage peak-to-trough decline | -1.42% | -3.91% | +2.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.45% | 2.02% | -1.57% |
Volatility
XSTB.TO vs. XAW.TO - Volatility Comparison
The current volatility for iShares ESG Aware Canadian Short Term Bond Index ETF (XSTB.TO) is 0.69%, while iShares Core MSCI All Country World ex Canada Index ETF (XAW.TO) has a volatility of 4.21%. This indicates that XSTB.TO experiences smaller price fluctuations and is considered to be less risky than XAW.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 | XAW.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.69% | 4.21% | -3.52% |
Volatility (6M)Calculated over the trailing 6-month period | 1.51% | 9.85% | -8.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.86% | 12.25% | -10.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.53% | 13.56% | -11.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.72% | 15.12% | -12.40% |
XSTB.TO vs. XAW.TO - Expense Ratio Comparison
XSTB.TO has a 0.17% expense ratio, which is lower than XAW.TO's 0.22% expense ratio. Despite the difference, 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. XAW.TO - Dividend Comparison
XSTB.TO's dividend yield for the trailing twelve months is around 2.88%, more than XAW.TO's 1.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XAW.TO iShares Core MSCI All Country World ex Canada Index ETF | 1.17% | 1.33% | 1.61% | 1.71% | 1.79% | 1.77% | 1.49% | 2.02% | 2.29% | 1.92% | 1.80% | 1.83% |
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 XAW.TO have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XSTB.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XSTB.TO is cheaper with a 0.17% expense ratio, compared with 0.22% for XAW.TO.
XSTB.TO is categorized as Canadian Government Bonds, while XAW.TO is Global Equities. XSTB.TO tracks Morningstar Can 1-5Y Core Bd GR CAD, while XAW.TO tracks Morningstar Gbl GR CAD. Their fees differ too: 0.17% for XSTB.TO and 0.22% for XAW.TO.
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