VS
iShares Canadian Corporate Bond Index ETF (XCB) and iShares Convertible Bond Index ETF (CVD) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XCB focuses its top 3 sector exposures on Finance, Utilities, and Energy, while CVD leans towards Finance, Industrials, and Energy. When evaluating costs, XCB features a management fee (MER) of 0.15%, compared to 0.45% for CVD. Performance-wise, XCB has returned 0.23% year-to-date with +$973 M in net flows, whereas CVD is at 3.26% with +$8 M. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.
NAV Performance and Flows
Key Data
Compare
XCB
CVD
| AuM | $3,667.34 M | $118.52 M |
| Management Fees | 0.15% | 0.45% |
| Exp. ratio | 0.17% | 0.50% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 15, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XCB | -0.93% | -2.07% | -0.23% | +0.39% | +18.40% |
CVD | -0.62% | +0.57% | +3.26% | +4.74% | +26.89% | |
| Flows | XCB | +$360 M | +$420 M | +$973 M | +$1,379 M | +$2,022 M |
CVD | -$6 M | -$5 M | +$8 M | +$18 M | +$12 M |
XCB vs CVD exposure
Countries
XCB
Canada
90.82%
USA
7.96%
CVD
Canada
100.01%
Sectors
XCB
Finance
43.65%
Utilities
15.37%
Energy
13.73%
Industrials
8.75%
Other
18.50%
CVD
Finance
39.68%
Industrials
25.01%
Energy
12.19%
Consumer Cyclicals
9.97%
Consumer Non-Cyclicals
7.82%
As of September 15, 2026
Top 10 Holdings
XCB
Amazon.com, 5% 12jun2056, CAD
0.62%
Bank of Nova Scotia, 3.61% 30jan2032, CAD
0.53%
Amazon.com, 4.35% 12jun2036, CAD
0.52%
Royal Bank of Canada, 3.572% 9dec2031, CAD
0.52%
CIBC, 3.65% 13jan2032, CAD
0.45%
Toronto-Dominion Bank, 3.687% 9jan2032, CAD
0.45%
Bank of Nova Scotia, 3.734% 27jun2031, CAD
0.41%
Alphabet, 5% 15may2056, CAD
0.41%
Royal Bank of Canada, 4.632% 1may2028, CAD
0.39%
Toronto-Dominion Bank, 4.68% 8jan2029, CAD
0.38%
CVD
NFI Group, 5% 15jan2027, CAD (Conv.)
9.69%
Morguard REIT, 5.25% 31dec2026, CAD (Conv.)
6.67%
Advantage Energy, 5% 30jun2029, CAD (Conv.)
6.42%
Storagevault Canada, 5% 31mar2028, CAD (Conv.)
6.30%
Vital Infrastructure Property Trust, 6.25% 31aug2027, CAD (Conv.)
6.25%
Tidewater Midstream, 8% 30jun2029, CAD (Conv.)
5.77%
Rogers Sugar, 6% 30jun2030, CAD (Conv.)
5.23%
Alaris Equity Partners Income, 6.25% 31dec2030, CAD (Conv.)
5.09%
Ag Growth International, 5% 30jun2027, CAD (Conv.)
4.73%
Ag Growth International, 5.2% 31dec2027, CAD (Conv.)
4.28%
Diversification
XCB
Total weight of top 10 holdings out of 1,325 total
4.67%
CVD
Total weight of top 10 holdings out of 24 total
60.43%
Characteristics
Compare
XCB
CVD
| Provider | iShares | iShares |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada All Corporate Bond TR Index - CAD | FTSE Canada Convertible Bond TR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 4.28% | 5.01% |
| Meets ESG criteria | No | No |
| Inception Date | November 6, 2006 | June 14, 2011 |
Frequently asked questions about XCB and CVD
Which ETF has performed better year to date: XCB or CVD?
As of September 15, 2026, XCB has returned -0.23% year to date, while CVD has returned 3.26%. CVD is ahead on YTD performance.
Which ETF is larger by assets under management: XCB or CVD?
As of September 15, 2026, XCB manages $3.67 B in assets, while CVD manages $118.52 M. XCB is the larger fund by AUM.
How are XCB and CVD managed?
XCB is passively managed by iShares. It tracks the FTSE Canada All Corporate Bond TR Index - CAD benchmark. CVD is passively managed by iShares. It tracks the FTSE Canada Convertible Bond TR Index - CAD benchmark.
What sectors do XCB and CVD emphasize?
XCB is most exposed to Finance, Utilities, and Energy. CVD is most exposed to Finance, Industrials, and Energy.
Which ETF is attracting more investor flows: XCB or CVD?
Year to date, XCB has seen +$973.28 M in net flows, compared with +$7.98 M for CVD. XCB has attracted more net investor money so far.
How do the fees of XCB and CVD compare?
XCB has an expense ratio of 0.17%, while CVD has an expense ratio of 0.50%.
What are the top holdings of XCB and CVD?
XCB's largest holdings include Amazon.com, 5% 12jun2056, CAD, Bank of Nova Scotia, 3.61% 30jan2032, CAD, and Amazon.com, 4.35% 12jun2036, CAD. CVD's top holdings include NFI Group, 5% 15jan2027, CAD (Conv.), Morguard REIT, 5.25% 31dec2026, CAD (Conv.), and Advantage Energy, 5% 30jun2029, CAD (Conv.).
Which ETF is more diversified: XCB or CVD?
XCB holds 1325 securities, while CVD holds 24. On holdings count, XCB is the more diversified portfolio.
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