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XTLH.TO vs. HBIL-U.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XTLH.TO vs. HBIL-U.TO

Last updated Jul 18, 2026
Documentation

XTLH.TO (iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged)) and HBIL-U.TO (Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units) are both Government Bonds funds. XTLH.TO is passively managed, while HBIL-U.TO is actively managed. Over the past year, XTLH.TO returned 1.96% vs 6.60% for HBIL-U.TO. At a 0.24 correlation, their price movements are largely independent.

Performance

XTLH.TO vs. HBIL-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) (XTLH.TO) and Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units (HBIL-U.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XTLH.TO is traded in CAD, while HBIL-U.TO is traded in USD. To make them comparable, the HBIL-U.TO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XTLH.TO achieves a -1.71% return, which is significantly lower than HBIL-U.TO's 3.86% return.

XTLH.TO

1D
0.39%
1M
-1.80%
6M
-2.36%
YTD
-1.71%
1Y
1.96%
3Y*
—
5Y*
—
10Y*
—

HBIL-U.TO

1D
-0.00%
1M
0.12%
6M
2.21%
YTD
3.86%
1Y
6.60%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XTLH.TO vs. HBIL-U.TO - Yearly Performance Comparison

2026 (YTD)20252024
XTLH.TO
iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged)		-1.71%2.61%-12.41%
HBIL-U.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units		3.86%0.03%4.69%

Correlation

The correlation between XTLH.TO and HBIL-U.TO is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.24

Correlation (All Time)
Calculated using the full available price history since Sep 16, 2024

0.24

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged)

Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units

Often compared with XTLH.TO:
XTLH.TO vs. XTLT.TOXTLH.TO vs. TLTXTLH.TO vs. TLHXTLH.TO vs. XIG.TOXTLH.TO vs. VSBSXXTLH.TO vs. XBB.TOXTLH.TO vs. TSLA
Often compared with HBIL-U.TO:
HBIL-U.TO vs. HYLD-U.TOHBIL-U.TO vs. HTB.TOHBIL-U.TO vs. TULB.TOHBIL-U.TO vs. ZPL.TOHBIL-U.TO vs. BANK.TOHBIL-U.TO vs. HBND.TOHBIL-U.TO vs. MIX.TO

Return for Risk

XTLH.TO vs. HBIL-U.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XTLH.TO
XTLH.TO Risk / Return Rank: 1212
Overall Rank
XTLH.TO Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
XTLH.TO Sortino Ratio Rank: 1212
Sortino Ratio Rank
XTLH.TO Omega Ratio Rank: 1212
Omega Ratio Rank
XTLH.TO Calmar Ratio Rank: 1313
Calmar Ratio Rank
XTLH.TO Martin Ratio Rank: 1313
Martin Ratio Rank
HBIL-U.TO
HBIL-U.TO Risk / Return Rank: 8989
Overall Rank
HBIL-U.TO Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
HBIL-U.TO Sortino Ratio Rank: 8686
Sortino Ratio Rank
HBIL-U.TO Omega Ratio Rank: 9393
Omega Ratio Rank
HBIL-U.TO Calmar Ratio Rank: 8888
Calmar Ratio Rank
HBIL-U.TO Martin Ratio Rank: 8989
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XTLH.TO vs. HBIL-U.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 Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units (HBIL-U.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

XTLH.TOHBIL-U.TODifference
Sharpe ratioReturn per unit of total volatility
0.21
1.42

-1.21

Sortino ratioReturn per unit of downside risk
0.37
2.03

-1.67

Omega ratioGain probability vs. loss probability

1.04

1.25

-0.21

Calmar ratioReturn relative to maximum drawdown

0.24

1.65

-1.42

Martin ratioReturn relative to average drawdown

0.52

4.19

-3.67

XTLH.TO vs. HBIL-U.TO - Sharpe Ratio Comparison

The current XTLH.TO Sharpe Ratio is 0.21, which is lower than the HBIL-U.TO Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of XTLH.TO and HBIL-U.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

XTLH.TO vs. HBIL-U.TO - Drawdown Comparison

The maximum XTLH.TO drawdown since its inception was -15.86%, which is greater than HBIL-U.TO's maximum drawdown of -6.68%. Use the drawdown chart below to compare losses from any high point for XTLH.TO and HBIL-U.TO.

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Drawdown Indicators

XTLH.TOHBIL-U.TODifference

Max Drawdown

Largest peak-to-trough decline

-15.86%

-6.68%

-9.18%

Max Drawdown (1Y)

Largest decline over 1 year

-8.37%

-4.01%

-4.36%

Current Drawdown

Current decline from peak

-12.48%

-2.20%

-10.28%

Average Drawdown

Average peak-to-trough decline

-9.22%

-2.26%

-6.96%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.76%

1.58%

+2.18%

Volatility

XTLH.TO vs. HBIL-U.TO - Volatility Comparison

iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) (XTLH.TO) has a higher volatility of 3.17% compared to Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units (HBIL-U.TO) at 1.82%. This indicates that XTLH.TO's price experiences larger fluctuations and is considered to be riskier than HBIL-U.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.TOHBIL-U.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.17%

1.82%

+1.35%

Volatility (6M)

Calculated over the trailing 6-month period

6.98%

3.60%

+3.38%

Volatility (1Y)

Calculated over the trailing 1-year period

9.42%

4.68%

+4.74%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.34%

5.85%

+6.49%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.34%

5.85%

+6.49%

Dividends

XTLH.TO vs. HBIL-U.TO - Dividend Comparison

XTLH.TO's dividend yield for the trailing twelve months is around 4.69%, less than HBIL-U.TO's 6.74% yield.

PositionTTM202520242023
HBIL-U.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units		6.74%7.37%2.40%0.00%
XTLH.TO
iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged)		4.69%4.42%4.32%0.51%

Frequently Asked Questions

XTLH.TO and HBIL-U.TO have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

They also come from different issuers: iShares and Hamilton.

Portfolio Optimizer

Find the right allocation for XTLH.TO and HBIL-U.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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