XTLH.TO vs. XAW.TO
XTLH.TO (iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged)) and XAW.TO (iShares Core MSCI All Country World ex Canada 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 XAW.TO is a Global Equities fund tracking the Morningstar Gbl GR CAD. Both are passively managed. Over the past 3 years, XTLH.TO returned -3.65%/yr vs 21.73%/yr for XAW.TO. At a 0.15 correlation, their price movements are largely independent. XTLH.TO charges 0.18%/yr vs 0.22%/yr for XAW.TO.
Performance
XTLH.TO vs. XAW.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XTLH.TO achieves a -1.03% return, which is significantly lower than XAW.TO's 13.70% return.
XTLH.TO
- 1D
- -0.42%
- 1M
- 0.65%
- YTD
- -1.03%
- 6M
- -2.78%
- 1Y
- 3.13%
- 3Y*
- -3.65%
- 5Y*
- —
- 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%
XTLH.TO vs. XAW.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% |
XAW.TO iShares Core MSCI All Country World ex Canada Index ETF | 13.70% | 15.87% | 26.31% | 12.56% |
Correlation
The correlation between XTLH.TO and XAW.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 (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2023 | 0.15 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XTLH.TO vs. XAW.TO — Risk / Return Rank
XTLH.TO
XAW.TO
XTLH.TO vs. XAW.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 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.
| XTLH.TO | XAW.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.18 | ||
| Sortino ratioReturn per unit of downside risk | -2.95 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.48 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | 0.38 | 3.76 | -3.38 |
| Martin ratioReturn relative to average drawdown | 0.94 | 15.15 | -14.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| XTLH.TO | XAW.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.32 | 2.50 | -2.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.04 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.88 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.15 | 0.78 | -0.94 |
Drawdowns
XTLH.TO vs. XAW.TO - Drawdown Comparison
The maximum XTLH.TO drawdown since its inception was -22.72%, smaller than the maximum XAW.TO drawdown of -27.32%. Use the drawdown chart below to compare losses from any high point for XTLH.TO and XAW.TO.
Loading charts...
Drawdown Indicators
| XTLH.TO | XAW.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.72% | -27.32% | +4.60% |
Max Drawdown (1Y)Largest decline over 1 year | -8.37% | -8.16% | -0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -19.47% | -16.66% | -2.81% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.02% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.32% | — |
Current DrawdownCurrent decline from peak | -14.80% | -0.37% | -14.43% |
Average DrawdownAverage peak-to-trough decline | -12.15% | -3.91% | -8.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.36% | 2.02% | +1.34% |
Volatility
XTLH.TO vs. XAW.TO - Volatility Comparison
The current volatility for iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) (XTLH.TO) is 2.98%, while iShares Core MSCI All Country World ex Canada Index ETF (XAW.TO) has a volatility of 4.21%. This indicates that XTLH.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.
Loading charts...
Volatility by Period
| XTLH.TO | XAW.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.98% | 4.21% | -1.23% |
Volatility (6M)Calculated over the trailing 6-month period | 6.42% | 9.85% | -3.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.72% | 12.25% | -2.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.16% | 13.56% | +0.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.16% | 15.12% | -0.96% |
XTLH.TO vs. XAW.TO - Expense Ratio Comparison
XTLH.TO has a 0.18% 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
XTLH.TO vs. XAW.TO - Dividend Comparison
XTLH.TO's dividend yield for the trailing twelve months is around 4.62%, 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% |
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 XAW.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.
On fees, XTLH.TO is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XTLH.TO is cheaper with a 0.18% expense ratio, compared with 0.22% for XAW.TO.
XTLH.TO is categorized as Government Bonds, while XAW.TO is Global Equities. XTLH.TO tracks ICE U.S. Treasury 20+ Year Bond Index (CAD-Hedged), while XAW.TO tracks Morningstar Gbl GR CAD. Their fees differ too: 0.18% for XTLH.TO and 0.22% for XAW.TO.
Find the right allocation for XTLH.TO and XAW.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer