XTR.TO vs. XCB.TO
XTR.TO (iShares Diversified Monthly Income ETF) and XCB.TO (iShares Core Canadian Corporate Bond Index ETF) are both exchange-traded funds - XTR.TO is a Diversified Portfolio fund tracking the Morningstar Can Neut Tgt Alloc NR CAD, while XCB.TO is a Corporate Bonds fund tracking the Morningstar Can Corp Bd GR CAD. Both are passively managed. Over the past 10 years, XTR.TO returned 5.99%/yr vs 2.77%/yr for XCB.TO. At a 0.12 correlation, their price movements are largely independent. XTR.TO charges 0.61%/yr vs 0.17%/yr for XCB.TO.
Performance
XTR.TO vs. XCB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XTR.TO achieves a 6.55% return, which is significantly higher than XCB.TO's 1.75% return. Over the past 10 years, XTR.TO has outperformed XCB.TO with an annualized return of 5.99%, while XCB.TO has yielded a comparatively lower 2.77% annualized return.
XTR.TO
- 1D
- 0.16%
- 1M
- 2.50%
- YTD
- 6.55%
- 6M
- 6.45%
- 1Y
- 13.02%
- 3Y*
- 10.98%
- 5Y*
- 6.00%
- 10Y*
- 5.99%
XCB.TO
- 1D
- -0.10%
- 1M
- 1.66%
- YTD
- 1.75%
- 6M
- 1.49%
- 1Y
- 4.27%
- 3Y*
- 6.23%
- 5Y*
- 2.30%
- 10Y*
- 2.77%
XTR.TO vs. XCB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XTR.TO iShares Diversified Monthly Income ETF | 6.55% | 8.54% | 12.80% | 4.95% | -4.48% | 10.17% | 2.45% | 12.86% | -3.72% | 6.61% |
XCB.TO iShares Core Canadian Corporate Bond Index ETF | 1.75% | 4.45% | 6.72% | 8.30% | -9.79% | -1.81% | 8.36% | 7.90% | 0.39% | 2.75% |
Correlation
The correlation between XTR.TO and XCB.TO is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2006 | 0.12 |
Over the past year, XTR.TO and XCB.TO have become more correlated (0.57) than their long-term average of 0.12, meaning their price movements have been converging.
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Return for Risk
XTR.TO vs. XCB.TO — Risk / Return Rank
XTR.TO
XCB.TO
XTR.TO vs. XCB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Diversified Monthly Income ETF (XTR.TO) and iShares Core Canadian Corporate Bond Index ETF (XCB.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.
| XTR.TO | XCB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.70 | ||
| Sortino ratioReturn per unit of downside risk | +2.61 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 1.20 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 3.97 | 1.72 | +2.25 |
| Martin ratioReturn relative to average drawdown | 17.48 | 5.08 | +12.40 |
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
| XTR.TO | XCB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.85 | 1.15 | +1.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.96 | 0.41 | +0.55 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.72 | 0.39 | +0.34 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.63 | -0.23 |
Drawdowns
XTR.TO vs. XCB.TO - Drawdown Comparison
The maximum XTR.TO drawdown since its inception was -51.42%, which is greater than XCB.TO's maximum drawdown of -22.59%. Use the drawdown chart below to compare losses from any high point for XTR.TO and XCB.TO.
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Drawdown Indicators
| XTR.TO | XCB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.42% | -22.59% | -28.83% |
Max Drawdown (1Y)Largest decline over 1 year | -3.29% | -2.49% | -0.80% |
Max Drawdown (3Y)Largest decline over 3 years | -6.06% | -3.56% | -2.50% |
Max Drawdown (5Y)Largest decline over 5 years | -9.74% | -14.17% | +4.43% |
Max Drawdown (10Y)Largest decline over 10 years | -25.92% | -22.59% | -3.33% |
Current DrawdownCurrent decline from peak | -0.16% | -0.10% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -4.96% | -2.12% | -2.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 0.84% | -0.09% |
Volatility
XTR.TO vs. XCB.TO - Volatility Comparison
iShares Diversified Monthly Income ETF (XTR.TO) has a higher volatility of 1.60% compared to iShares Core Canadian Corporate Bond Index ETF (XCB.TO) at 1.45%. This indicates that XTR.TO's price experiences larger fluctuations and is considered to be riskier than XCB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XTR.TO | XCB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.60% | 1.45% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 3.75% | 2.92% | +0.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.59% | 3.74% | +0.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.27% | 5.67% | +0.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.33% | 7.23% | +1.10% |
XTR.TO vs. XCB.TO - Expense Ratio Comparison
XTR.TO has a 0.61% expense ratio, which is higher than XCB.TO's 0.17% expense ratio.
Dividends
XTR.TO vs. XCB.TO - Dividend Comparison
XTR.TO's dividend yield for the trailing twelve months is around 3.92%, less than XCB.TO's 4.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XCB.TO iShares Core Canadian Corporate Bond Index ETF | 4.13% | 4.10% | 4.00% | 3.69% | 3.55% | 3.01% | 2.75% | 2.95% | 3.10% | 3.07% | 3.19% | 3.31% |
XTR.TO iShares Diversified Monthly Income ETF | 3.92% | 4.10% | 4.27% | 4.61% | 4.62% | 4.21% | 5.56% | 5.38% | 5.75% | 5.24% | 5.30% | 6.81% |
Frequently Asked Questions
XTR.TO and XCB.TO have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XCB.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XCB.TO is cheaper with a 0.17% expense ratio, compared with 0.61% for XTR.TO.
XTR.TO is categorized as Diversified Portfolio, while XCB.TO is Corporate Bonds. XTR.TO tracks Morningstar Can Neut Tgt Alloc NR CAD, while XCB.TO tracks Morningstar Can Corp Bd GR CAD. Their fees differ too: 0.61% for XTR.TO and 0.17% for XCB.TO.
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