XTLT.TO vs. HBND.TO
XTLT.TO (iShares 20+ Year U.S. Treasury Bond Index ETF) and HBND.TO ( Hamilton U.S. Bond YIELD MAXIMIZER ETF (CAD Hedged)) are both Government Bonds funds. XTLT.TO is passively managed, while HBND.TO is actively managed. Over the past year, XTLT.TO returned 5.60% vs 4.89% for HBND.TO. Their correlation of 0.85 suggests significant overlap in exposure. XTLT.TO charges 0.18%/yr vs 0.45%/yr for HBND.TO.
Performance
XTLT.TO vs. HBND.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XTLT.TO achieves a 0.91% return, which is significantly higher than HBND.TO's -0.30% return.
XTLT.TO
- 1D
- 0.00%
- 1M
- 2.85%
- YTD
- 0.91%
- 6M
- -2.99%
- 1Y
- 5.60%
- 3Y*
- -1.68%
- 5Y*
- —
- 10Y*
- —
HBND.TO
- 1D
- -0.45%
- 1M
- 0.70%
- YTD
- -0.30%
- 6M
- -1.71%
- 1Y
- 4.89%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XTLT.TO vs. HBND.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XTLT.TO iShares 20+ Year U.S. Treasury Bond Index ETF | 0.91% | -1.07% | -1.47% | 4.99% |
HBND.TO Hamilton U.S. Bond YIELD MAXIMIZER ETF (CAD Hedged) | -0.30% | 4.05% | -7.02% | 4.80% |
Correlation
The correlation between XTLT.TO and HBND.TO is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2023 | 0.86 |
The correlation between XTLT.TO and HBND.TO has been stable across timeframes, ranging from 0.83 to 0.85 - a consistent structural relationship.
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Return for Risk
XTLT.TO vs. HBND.TO — Risk / Return Rank
XTLT.TO
HBND.TO
XTLT.TO vs. HBND.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 (XTLT.TO) and Hamilton U.S. Bond YIELD MAXIMIZER ETF (CAD Hedged) (HBND.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.
| XTLT.TO | HBND.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.10 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.58 | 0.73 | -0.15 |
| Martin ratioReturn relative to average drawdown | 1.26 | 1.89 | -0.63 |
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
| XTLT.TO | HBND.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.55 | 0.56 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.10 | 0.04 | -0.13 |
Drawdowns
XTLT.TO vs. HBND.TO - Drawdown Comparison
The maximum XTLT.TO drawdown since its inception was -21.04%, which is greater than HBND.TO's maximum drawdown of -13.65%. Use the drawdown chart below to compare losses from any high point for XTLT.TO and HBND.TO.
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Drawdown Indicators
| XTLT.TO | HBND.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.04% | -13.65% | -7.39% |
Max Drawdown (1Y)Largest decline over 1 year | -9.72% | -6.76% | -2.96% |
Max Drawdown (3Y)Largest decline over 3 years | -16.07% | — | — |
Current DrawdownCurrent decline from peak | -9.60% | -8.01% | -1.59% |
Average DrawdownAverage peak-to-trough decline | -8.98% | -6.50% | -2.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.45% | 2.59% | +1.86% |
Volatility
XTLT.TO vs. HBND.TO - Volatility Comparison
iShares 20+ Year U.S. Treasury Bond Index ETF (XTLT.TO) has a higher volatility of 3.14% compared to Hamilton U.S. Bond YIELD MAXIMIZER ETF (CAD Hedged) (HBND.TO) at 2.74%. This indicates that XTLT.TO's price experiences larger fluctuations and is considered to be riskier than HBND.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XTLT.TO | HBND.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.14% | 2.74% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 7.27% | 5.72% | +1.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.21% | 8.70% | +1.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.17% | 11.34% | +2.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.17% | 11.34% | +2.83% |
XTLT.TO vs. HBND.TO - Expense Ratio Comparison
XTLT.TO has a 0.18% expense ratio, which is lower than HBND.TO's 0.45% expense ratio.
Dividends
XTLT.TO vs. HBND.TO - Dividend Comparison
XTLT.TO's dividend yield for the trailing twelve months is around 4.97%, less than HBND.TO's 11.34% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
HBND.TO Hamilton U.S. Bond YIELD MAXIMIZER ETF (CAD Hedged) | 11.34% | 11.84% | 11.51% | 2.41% |
XTLT.TO iShares 20+ Year U.S. Treasury Bond Index ETF | 4.97% | 4.60% | 4.17% | 2.85% |
Frequently Asked Questions
XTLT.TO and HBND.TO have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XTLT.TO is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XTLT.TO is cheaper with a 0.18% expense ratio, compared with 0.45% for HBND.TO.
They also come from different issuers: iShares and Hamilton Capital. Their fees differ too: 0.18% for XTLT.TO and 0.45% for HBND.TO.
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