XSTH.TO vs. QTIP.NEO
XSTH.TO (iShares 0-5 Year TIPS Bond Index ETF (CAD-Hedged)) and QTIP.NEO (Mackenzie US TIPS Index ETF (CAD-Hedged)) are both Inflation-Protected Bonds funds - XSTH.TO tracks the Morningstar Gbl Core Bd GR CAD while QTIP.NEO tracks the Solactive US Treasury Inflation-Linked Bond Hedged to CAD TR Index. Both are passively managed. Over the past 3 years, XSTH.TO returned 3.85%/yr vs 2.70%/yr for QTIP.NEO. A 0.63 correlation means they provide meaningful diversification when combined. XSTH.TO charges 0.16%/yr vs 0.15%/yr for QTIP.NEO.
Performance
XSTH.TO vs. QTIP.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, XSTH.TO achieves a 1.24% return, which is significantly higher than QTIP.NEO's 0.87% return.
XSTH.TO
- 1D
- -0.03%
- 1M
- -0.13%
- YTD
- 1.24%
- 6M
- 1.11%
- 1Y
- 2.77%
- 3Y*
- 3.85%
- 5Y*
- —
- 10Y*
- —
QTIP.NEO
- 1D
- -0.28%
- 1M
- -0.21%
- YTD
- 0.87%
- 6M
- 0.12%
- 1Y
- 2.85%
- 3Y*
- 2.70%
- 5Y*
- 0.18%
- 10Y*
- —
XSTH.TO vs. QTIP.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XSTH.TO iShares 0-5 Year TIPS Bond Index ETF (CAD-Hedged) | 1.24% | 4.20% | 3.68% | 3.90% | -3.36% | 1.76% |
QTIP.NEO Mackenzie US TIPS Index ETF (CAD-Hedged) | 0.87% | 4.82% | 0.82% | 3.50% | -12.98% | 3.47% |
Correlation
The correlation between XSTH.TO and QTIP.NEO is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Jul 15, 2021 | 0.63 |
The correlation between XSTH.TO and QTIP.NEO has been stable across timeframes, ranging from 0.55 to 0.63 - a consistent structural relationship.
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Return for Risk
XSTH.TO vs. QTIP.NEO — Risk / Return Rank
XSTH.TO
QTIP.NEO
XSTH.TO vs. QTIP.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-5 Year TIPS Bond Index ETF (CAD-Hedged) (XSTH.TO) and Mackenzie US TIPS Index ETF (CAD-Hedged) (QTIP.NEO). 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.
| XSTH.TO | QTIP.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.47 | ||
| Sortino ratioReturn per unit of downside risk | +0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.14 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 1.42 | +0.45 |
| Martin ratioReturn relative to average drawdown | 7.42 | 3.58 | +3.84 |
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
| XSTH.TO | QTIP.NEO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.28 | 0.81 | +0.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.03 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.35 | +0.29 |
Drawdowns
XSTH.TO vs. QTIP.NEO - Drawdown Comparison
The maximum XSTH.TO drawdown since its inception was -5.98%, smaller than the maximum QTIP.NEO drawdown of -15.03%. Use the drawdown chart below to compare losses from any high point for XSTH.TO and QTIP.NEO.
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Drawdown Indicators
| XSTH.TO | QTIP.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.98% | -15.03% | +9.05% |
Max Drawdown (1Y)Largest decline over 1 year | -1.49% | -2.02% | +0.53% |
Max Drawdown (3Y)Largest decline over 3 years | -1.49% | -4.59% | +3.10% |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.03% | — |
Current DrawdownCurrent decline from peak | -0.19% | -4.09% | +3.90% |
Average DrawdownAverage peak-to-trough decline | -1.56% | -4.78% | +3.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.37% | 0.80% | -0.43% |
Volatility
XSTH.TO vs. QTIP.NEO - Volatility Comparison
The current volatility for iShares 0-5 Year TIPS Bond Index ETF (CAD-Hedged) (XSTH.TO) is 0.43%, while Mackenzie US TIPS Index ETF (CAD-Hedged) (QTIP.NEO) has a volatility of 1.27%. This indicates that XSTH.TO experiences smaller price fluctuations and is considered to be less risky than QTIP.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XSTH.TO | QTIP.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.43% | 1.27% | -0.84% |
Volatility (6M)Calculated over the trailing 6-month period | 1.52% | 2.48% | -0.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.18% | 3.56% | -1.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.64% | 6.25% | -2.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.64% | 6.31% | -2.67% |
XSTH.TO vs. QTIP.NEO - Expense Ratio Comparison
XSTH.TO has a 0.16% expense ratio, which is higher than QTIP.NEO's 0.15% 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
XSTH.TO vs. QTIP.NEO - Dividend Comparison
XSTH.TO's dividend yield for the trailing twelve months is around 3.55%, which matches QTIP.NEO's 3.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
QTIP.NEO Mackenzie US TIPS Index ETF (CAD-Hedged) | 3.56% | 4.54% | 4.53% | 5.08% | 9.47% | 5.24% | 2.17% | 2.29% | 2.91% |
XSTH.TO iShares 0-5 Year TIPS Bond Index ETF (CAD-Hedged) | 3.55% | 3.94% | 2.53% | 3.15% | 6.07% | 2.05% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XSTH.TO and QTIP.NEO have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, QTIP.NEO is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QTIP.NEO is cheaper with a 0.15% expense ratio, compared with 0.16% for XSTH.TO.
XSTH.TO tracks Morningstar Gbl Core Bd GR CAD, while QTIP.NEO tracks Solactive US Treasury Inflation-Linked Bond Hedged to CAD TR Index. They also come from different issuers: iShares and Mackenzie. Their fees differ too: 0.16% for XSTH.TO and 0.15% for QTIP.NEO.
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