A CDR file is a vector drawing image file that is natively created with CorelDRAW for storing digital images encoded and compressed. Such a drawing file contains text, lines, shapes, images, colors, and effects for vector representation of image contents. It can be used for the representation of various graphics data like brochures, tabloids, envelopes, and postcards. Besides CorelDRAW, other Corel products such as Corel Paintshop Pro and CorelDRAW Graphics suite can also open the CDR file formats.
An XPS file represents page layout files that are based on XML Paper Specifications created by Microsoft. This format was developed by Microsoft as replacement of EMF file format and is similar to PDF file format, but uses XML in layout, appearance, and printing information of a document. It is, in fact, more justified to say that XPS is an attempt on PDF, but couldn't get enough popularity as owned by PDF for a number of reasons.
You can also convert CDR into many other file formats. Please see the complete list below.