BND.TO vs. FALN
BND.TO (Purpose Global Bond Fund) and FALN (iShares Fallen Angels USD Bond ETF) are both exchange-traded funds - BND.TO is a Global Bonds fund, while FALN is a High Yield Bonds fund tracking the Bloomberg US High Yield Fallen Angel 3% Capped Index. BND.TO is actively managed, while FALN is passively managed. Over the past 10 years, BND.TO returned 3.04%/yr vs 7.65%/yr for FALN. At a 0.14 correlation, their price movements are largely independent.
Performance
BND.TO vs. FALN - Performance Comparison
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Different Trading Currencies
BND.TO is traded in CAD, while FALN is traded in USD. To make them comparable, the FALN values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, BND.TO achieves a 1.55% return, which is significantly lower than FALN's 5.70% return. Over the past 10 years, BND.TO has underperformed FALN with an annualized return of 3.04%, while FALN has yielded a comparatively higher 7.65% annualized return.
BND.TO
- 1D
- 0.22%
- 1M
- 1.11%
- YTD
- 1.55%
- 6M
- 1.75%
- 1Y
- 5.96%
- 3Y*
- 7.48%
- 5Y*
- 3.28%
- 10Y*
- 3.04%
FALN
- 1D
- -0.11%
- 1M
- 3.88%
- YTD
- 5.70%
- 6M
- 5.48%
- 1Y
- 11.17%
- 3Y*
- 12.13%
- 5Y*
- 6.69%
- 10Y*
- 7.65%
BND.TO vs. FALN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BND.TO Purpose Global Bond Fund | 1.55% | 7.26% | 7.49% | 8.45% | -7.80% | 2.62% | 6.14% | 4.16% | -0.91% | 1.72% |
FALN iShares Fallen Angels USD Bond ETF | 5.70% | 3.95% | 16.80% | 10.77% | -8.33% | 5.35% | 12.13% | 12.58% | 3.02% | 1.34% |
Correlation
The correlation between BND.TO and FALN is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2016 | 0.14 |
The correlation between BND.TO and FALN shifts across timeframes, from 0.14 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BND.TO vs. FALN — Risk / Return Rank
BND.TO
FALN
BND.TO vs. FALN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Global Bond Fund (BND.TO) and iShares Fallen Angels USD Bond ETF (FALN). 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.
| BND.TO | FALN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.31 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.09 | 2.48 | -0.39 |
| Martin ratioReturn relative to average drawdown | 8.59 | 7.02 | +1.57 |
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Drawdowns
BND.TO vs. FALN - Drawdown Comparison
The maximum BND.TO drawdown since its inception was -16.55%, smaller than the maximum FALN drawdown of -22.75%. Use the drawdown chart below to compare losses from any high point for BND.TO and FALN.
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Drawdown Indicators
| BND.TO | FALN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.55% | -22.75% | +6.20% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -4.53% | +1.66% |
Max Drawdown (3Y)Largest decline over 3 years | -4.46% | -8.69% | +4.23% |
Max Drawdown (5Y)Largest decline over 5 years | -12.43% | -18.04% | +5.61% |
Max Drawdown (10Y)Largest decline over 10 years | -16.55% | -22.75% | +6.20% |
Current DrawdownCurrent decline from peak | -0.11% | -0.11% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -2.10% | -3.27% | +1.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.70% | 1.59% | -0.89% |
Volatility
BND.TO vs. FALN - Volatility Comparison
The current volatility for Purpose Global Bond Fund (BND.TO) is 1.22%, while iShares Fallen Angels USD Bond ETF (FALN) has a volatility of 1.60%. This indicates that BND.TO experiences smaller price fluctuations and is considered to be less risky than FALN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BND.TO | FALN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 1.60% | -0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 4.79% | -2.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.14% | 6.30% | -3.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.10% | 9.69% | -4.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.15% | 10.64% | -5.49% |
Dividends
BND.TO vs. FALN - Dividend Comparison
BND.TO's dividend yield for the trailing twelve months is around 5.82%, less than FALN's 6.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BND.TO Purpose Global Bond Fund | 5.82% | 5.70% | 5.24% | 5.20% | 4.14% | 3.67% | 3.48% | 3.11% | 3.96% | 3.47% | 3.26% | 0.53% |
FALN iShares Fallen Angels USD Bond ETF | 6.42% | 6.31% | 6.24% | 5.37% | 5.08% | 3.40% | 5.14% | 5.35% | 5.97% | 6.98% | 3.55% | 0.00% |
Frequently Asked Questions
BND.TO and FALN have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BND.TO is categorized as Global Bonds, while FALN is High Yield Bonds.
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