BND.TO vs. IGOV
BND.TO (Purpose Global Bond Fund) and IGOV (iShares International Treasury Bond ETF) are both exchange-traded funds - BND.TO is a fund fund, while IGOV is a International Government Bonds fund tracking the S&P/Citigroup International Treasury Bond Index Ex-US. Over the past 10 years, BND.TO returned 3.00%/yr vs -0.67%/yr for IGOV. At a 0.15 correlation, their price movements are largely independent.
Performance
BND.TO vs. IGOV - Performance Comparison
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Different Trading Currencies
BND.TO is traded in CAD, while IGOV is traded in USD. To make them comparable, the IGOV 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 0.89% return, which is significantly higher than IGOV's 0.76% return. Over the past 10 years, BND.TO has outperformed IGOV with an annualized return of 3.00%, while IGOV has yielded a comparatively lower -0.67% annualized return.
BND.TO
- 1D
- -0.28%
- 1M
- 0.77%
- YTD
- 0.89%
- 6M
- 1.18%
- 1Y
- 6.14%
- 3Y*
- 7.22%
- 5Y*
- 3.27%
- 10Y*
- 3.00%
IGOV
- 1D
- -0.43%
- 1M
- 1.56%
- YTD
- 0.76%
- 6M
- -0.78%
- 1Y
- 1.86%
- 3Y*
- 3.75%
- 5Y*
- -1.74%
- 10Y*
- -0.67%
BND.TO vs. IGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BND.TO Purpose Global Bond Fund | 0.89% | 7.23% | 7.49% | 8.45% | -7.80% | 2.85% | 6.14% | 4.16% | -0.91% | 1.72% |
IGOV iShares International Treasury Bond ETF | 0.76% | 4.92% | 1.53% | 3.24% | -16.52% | -10.07% | 9.01% | -1.34% | 5.66% | 4.28% |
Correlation
The correlation between BND.TO and IGOV is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2015 | 0.15 |
The correlation between BND.TO and IGOV shifts across timeframes, from 0.15 (all time) to 0.34 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BND.TO vs. IGOV — Risk / Return Rank
BND.TO
IGOV
BND.TO vs. IGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Global Bond Fund (BND.TO) and iShares International Treasury Bond ETF (IGOV). 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.
| BND.TO | IGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.74 | ||
| Sortino ratioReturn per unit of downside risk | +2.49 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.05 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | 0.33 | +1.84 |
| Martin ratioReturn relative to average drawdown | 8.87 | 0.74 | +8.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BND.TO | IGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.02 | 0.28 | +1.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | -0.21 | +0.85 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | -0.08 | +0.67 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.11 | +0.51 |
Drawdowns
BND.TO vs. IGOV - Drawdown Comparison
The maximum BND.TO drawdown since its inception was -16.55%, smaller than the maximum IGOV drawdown of -32.16%. Use the drawdown chart below to compare losses from any high point for BND.TO and IGOV.
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Drawdown Indicators
| BND.TO | IGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.55% | -32.16% | +15.61% |
Max Drawdown (1Y)Largest decline over 1 year | -2.84% | -5.60% | +2.76% |
Max Drawdown (3Y)Largest decline over 3 years | -4.46% | -6.89% | +2.43% |
Max Drawdown (5Y)Largest decline over 5 years | -12.23% | -26.96% | +14.73% |
Max Drawdown (10Y)Largest decline over 10 years | -16.55% | -32.16% | +15.61% |
Current DrawdownCurrent decline from peak | -0.45% | -18.82% | +18.37% |
Average DrawdownAverage peak-to-trough decline | -2.07% | -10.23% | +8.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 2.52% | -1.83% |
Volatility
BND.TO vs. IGOV - Volatility Comparison
The current volatility for Purpose Global Bond Fund (BND.TO) is 1.35%, while iShares International Treasury Bond ETF (IGOV) has a volatility of 2.68%. This indicates that BND.TO experiences smaller price fluctuations and is considered to be less risky than IGOV 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 | IGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 2.68% | -1.33% |
Volatility (6M)Calculated over the trailing 6-month period | 2.52% | 5.30% | -2.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.06% | 6.78% | -3.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.10% | 8.46% | -3.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.15% | 8.18% | -3.03% |
Dividends
BND.TO vs. IGOV - Dividend Comparison
BND.TO's dividend yield for the trailing twelve months is around 5.86%, more than IGOV's 1.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BND.TO Purpose Global Bond Fund | 5.86% | 5.70% | 5.24% | 5.20% | 4.14% | 3.89% | 3.48% | 3.11% | 3.96% | 3.47% | 3.26% | 0.53% |
IGOV iShares International Treasury Bond ETF | 1.42% | 1.41% | 0.59% | 0.00% | 0.11% | 0.39% | 0.00% | 0.24% | 0.31% | 0.19% | 0.69% | 0.12% |
Frequently Asked Questions
BND.TO and IGOV have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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