XTLH.TO vs. CLF.TO
XTLH.TO (iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged)) and CLF.TO (iShares 1-5 Year Laddered Government Bond Index ETF) are both exchange-traded funds - XTLH.TO is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index (CAD-Hedged), while CLF.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD. Both are passively managed. Over the past 3 years, XTLH.TO returned -3.65%/yr vs 4.12%/yr for CLF.TO. A 0.65 correlation means they provide meaningful diversification when combined. XTLH.TO charges 0.18%/yr vs 0.17%/yr for CLF.TO.
Performance
XTLH.TO vs. CLF.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XTLH.TO achieves a -1.03% return, which is significantly lower than CLF.TO's 0.83% return.
XTLH.TO
- 1D
- -0.42%
- 1M
- 0.65%
- YTD
- -1.03%
- 6M
- -2.78%
- 1Y
- 3.13%
- 3Y*
- -3.65%
- 5Y*
- —
- 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%
XTLH.TO vs. CLF.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XTLH.TO iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) | -1.03% | 2.61% | -9.55% | 1.56% |
CLF.TO iShares 1-5 Year Laddered Government Bond Index ETF | 0.83% | 3.36% | 4.82% | 4.33% |
Correlation
The correlation between XTLH.TO and CLF.TO is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2023 | 0.65 |
The correlation between XTLH.TO and CLF.TO has been stable across timeframes, ranging from 0.64 to 0.65 - a consistent structural relationship.
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Return for Risk
XTLH.TO vs. CLF.TO — Risk / Return Rank
XTLH.TO
CLF.TO
XTLH.TO vs. CLF.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) (XTLH.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.
| XTLH.TO | CLF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.88 | ||
| Sortino ratioReturn per unit of downside risk | -1.11 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.23 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.38 | 1.78 | -1.40 |
| Martin ratioReturn relative to average drawdown | 0.94 | 5.12 | -4.19 |
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
| XTLH.TO | CLF.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.32 | 1.20 | -0.88 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.58 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.54 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.15 | 0.72 | -0.87 |
Drawdowns
XTLH.TO vs. CLF.TO - Drawdown Comparison
The maximum XTLH.TO drawdown since its inception was -22.72%, which is greater than CLF.TO's maximum drawdown of -6.91%. Use the drawdown chart below to compare losses from any high point for XTLH.TO and CLF.TO.
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Drawdown Indicators
| XTLH.TO | CLF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.72% | -6.91% | -15.81% |
Max Drawdown (1Y)Largest decline over 1 year | -8.37% | -1.38% | -6.99% |
Max Drawdown (3Y)Largest decline over 3 years | -19.47% | -1.42% | -18.05% |
Max Drawdown (5Y)Largest decline over 5 years | — | -6.80% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -6.91% | — |
Current DrawdownCurrent decline from peak | -14.80% | -0.34% | -14.46% |
Average DrawdownAverage peak-to-trough decline | -12.15% | -1.08% | -11.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.36% | 0.48% | +2.88% |
Volatility
XTLH.TO vs. CLF.TO - Volatility Comparison
iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) (XTLH.TO) has a higher volatility of 2.98% compared to iShares 1-5 Year Laddered Government Bond Index ETF (CLF.TO) at 0.72%. This indicates that XTLH.TO's price experiences larger fluctuations and is considered to be riskier than CLF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XTLH.TO | CLF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.98% | 0.72% | +2.26% |
Volatility (6M)Calculated over the trailing 6-month period | 6.42% | 1.62% | +4.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.72% | 2.04% | +7.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.16% | 2.98% | +11.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.16% | 3.37% | +10.79% |
XTLH.TO vs. CLF.TO - Expense Ratio Comparison
XTLH.TO has a 0.18% expense ratio, which is higher than CLF.TO's 0.17% 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
XTLH.TO vs. CLF.TO - Dividend Comparison
XTLH.TO's dividend yield for the trailing twelve months is around 4.62%, more than CLF.TO's 2.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XTLH.TO iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) | 4.62% | 4.42% | 4.32% | 2.67% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XTLH.TO and CLF.TO have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CLF.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CLF.TO is cheaper with a 0.17% expense ratio, compared with 0.18% for XTLH.TO.
XTLH.TO is categorized as Government Bonds, while CLF.TO is Canadian Government Bonds. XTLH.TO tracks ICE U.S. Treasury 20+ Year Bond Index (CAD-Hedged), while CLF.TO tracks Morningstar Can 1-5Y Core Bd GR CAD. Their fees differ too: 0.18% for XTLH.TO and 0.17% for CLF.TO.
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