ZQB.TO vs. XCBG.TO
ZQB.TO (BMO High Quality Corporate Bond Index ETF) and XCBG.TO (iShares ESG Advanced Canadian Corporate Bond Index ETF) are both Corporate Bonds funds. Over the past 3 years, ZQB.TO returned 6.05%/yr vs 6.09%/yr for XCBG.TO. At a 0.41 correlation, their price movements are largely independent.
Performance
ZQB.TO vs. XCBG.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZQB.TO achieves a 1.59% return, which is significantly lower than XCBG.TO's 1.96% return.
ZQB.TO
- 1D
- -0.17%
- 1M
- 0.26%
- YTD
- 1.59%
- 6M
- 1.56%
- 1Y
- 3.80%
- 3Y*
- 6.05%
- 5Y*
- 2.46%
- 10Y*
- —
XCBG.TO
- 1D
- 0.05%
- 1M
- 0.31%
- YTD
- 1.96%
- 6M
- 1.77%
- 1Y
- 3.82%
- 3Y*
- 6.09%
- 5Y*
- —
- 10Y*
- —
ZQB.TO vs. XCBG.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ZQB.TO BMO High Quality Corporate Bond Index ETF | 1.59% | 4.80% | 6.78% | 6.49% | -5.39% | -1.13% |
XCBG.TO iShares ESG Advanced Canadian Corporate Bond Index ETF | 1.96% | 4.21% | 6.79% | 7.45% | -7.40% | -1.10% |
Correlation
The correlation between ZQB.TO and XCBG.TO is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jul 27, 2021 | 0.41 |
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Return for Risk
ZQB.TO vs. XCBG.TO — Risk / Return Rank
ZQB.TO
XCBG.TO
ZQB.TO vs. XCBG.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO High Quality Corporate Bond Index ETF (ZQB.TO) and iShares ESG Advanced Canadian Corporate Bond Index ETF (XCBG.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.
| ZQB.TO | XCBG.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.24 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.13 | 1.90 | +0.23 |
| Martin ratioReturn relative to average drawdown | 7.54 | 6.01 | +1.53 |
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Drawdowns
ZQB.TO vs. XCBG.TO - Drawdown Comparison
The maximum ZQB.TO drawdown since its inception was -10.18%, smaller than the maximum XCBG.TO drawdown of -12.14%. Use the drawdown chart below to compare losses from any high point for ZQB.TO and XCBG.TO.
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Drawdown Indicators
| ZQB.TO | XCBG.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.18% | -12.14% | +1.96% |
Max Drawdown (1Y)Largest decline over 1 year | -1.79% | -2.03% | +0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -1.79% | -2.26% | +0.47% |
Max Drawdown (5Y)Largest decline over 5 years | -9.64% | — | — |
Current DrawdownCurrent decline from peak | -0.17% | 0.00% | -0.17% |
Average DrawdownAverage peak-to-trough decline | -2.34% | -3.50% | +1.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.51% | 0.65% | -0.14% |
Volatility
ZQB.TO vs. XCBG.TO - Volatility Comparison
The current volatility for BMO High Quality Corporate Bond Index ETF (ZQB.TO) is 0.70%, while iShares ESG Advanced Canadian Corporate Bond Index ETF (XCBG.TO) has a volatility of 0.82%. This indicates that ZQB.TO experiences smaller price fluctuations and is considered to be less risky than XCBG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZQB.TO | XCBG.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 0.82% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 1.79% | 2.34% | -0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.21% | 3.02% | -0.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.51% | 4.20% | -0.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.18% | 4.20% | -0.02% |
Dividends
ZQB.TO vs. XCBG.TO - Dividend Comparison
ZQB.TO's dividend yield for the trailing twelve months is around 3.92%, which matches XCBG.TO's 3.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
XCBG.TO iShares ESG Advanced Canadian Corporate Bond Index ETF | 3.94% | 3.84% | 3.61% | 3.19% | 2.99% | 0.87% | 0.00% |
ZQB.TO BMO High Quality Corporate Bond Index ETF | 3.92% | 3.67% | 3.39% | 3.00% | 2.80% | 2.58% | 2.46% |
Frequently Asked Questions
ZQB.TO and XCBG.TO have a correlation of 0.48, 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: BMO and iShares.
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