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Vanguard Canadian Government Bond Index ETF (VGV.TO) Diversifiers

ETF · Currency in CAD · Last updated Jun 17, 2026

Vanguard Canadian Government Bond Index ETF seeks to track the performance of the Bloomberg Global Aggregate Canadian Government Float Adjusted Bond Index. The fund invests primarily in public, investment-grade fixed income securities issued or guaranteed by Canadian federal, provincial, and municipal governments. Managed by Vanguard, it provides low-cost, diversified exposure to the Canadian government bond market across the maturity spectrum. It launched in January 2017 and trades on the Toronto Stock Exchange.

Looking to diversify beyond VGV.TO? The ETFs below have the lowest correlation with VGV.TO — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from VGV.TO.

Best Diversifiers for VGV.TO

5 ETFs have low correlation with VGV.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Global X 0-3 Month T-Bill ETF (CBIL.TO) (Canadian Government Bonds) with a 1Y correlation of 0.03, roughly unchanged from 0.05 over 3 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
CBIL.TO
Global X 0-3 Month T-Bill ETF0.030.05—
99
Canadian Government BondsVGV.TO vs CBIL.TO
XFR.TO
iShares Floating Rate Index ETF0.080.000.01
98
Canadian Government BondsVGV.TO vs XFR.TO
TCSH.TO
TD Cash Management ETF0.09——
99
Canadian Government BondsVGV.TO vs TCSH.TO
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index E...0.170.170.05
98
DividendVGV.TO vs VDY.TO
VVSG.TO
Vanguard Canadian Ultra-Short Government Bond Inde...0.21——
99
Canadian Government Bonds, Ultrashort BondVGV.TO vs VVSG.TO
See all 16 diversifiers for VGV.TO

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Diversification Analysis

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