BND.TO vs. VBG.NEO
BND.TO (Purpose Global Bond Fund) and VBG.NEO (Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged)) are both Global Bonds funds. BND.TO is actively managed, while VBG.NEO is passively managed. Over the past 10 years, BND.TO returned 3.04%/yr vs 0.36%/yr for VBG.NEO. At a 0.21 correlation, their price movements are largely independent.
Performance
BND.TO vs. VBG.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, BND.TO achieves a 1.55% return, which is significantly higher than VBG.NEO's 0.22% return. Over the past 10 years, BND.TO has outperformed VBG.NEO with an annualized return of 3.04%, while VBG.NEO has yielded a comparatively lower 0.36% 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%
VBG.NEO
- 1D
- 0.18%
- 1M
- 0.77%
- YTD
- 0.22%
- 6M
- 0.13%
- 1Y
- -0.36%
- 3Y*
- 1.94%
- 5Y*
- -1.24%
- 10Y*
- 0.36%
BND.TO vs. VBG.NEO - 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% |
VBG.NEO Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) | 0.22% | 0.14% | 1.68% | 6.97% | -13.38% | -3.03% | 3.87% | 6.33% | 1.34% | 1.78% |
Correlation
The correlation between BND.TO and VBG.NEO is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 2015 | 0.21 |
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Return for Risk
BND.TO vs. VBG.NEO — Risk / Return Rank
BND.TO
VBG.NEO
BND.TO vs. VBG.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Global Bond Fund (BND.TO) and Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) (VBG.NEO). 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 | VBG.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.00 | ||
| Sortino ratioReturn per unit of downside risk | +2.90 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 0.99 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 2.09 | -0.11 | +2.20 |
| Martin ratioReturn relative to average drawdown | 8.59 | -0.26 | +8.85 |
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Drawdowns
BND.TO vs. VBG.NEO - Drawdown Comparison
The maximum BND.TO drawdown since its inception was -16.55%, roughly equal to the maximum VBG.NEO drawdown of -17.31%. Use the drawdown chart below to compare losses from any high point for BND.TO and VBG.NEO.
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Drawdown Indicators
| BND.TO | VBG.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.55% | -17.31% | +0.76% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -3.17% | +0.30% |
Max Drawdown (3Y)Largest decline over 3 years | -4.46% | -3.17% | -1.29% |
Max Drawdown (5Y)Largest decline over 5 years | -12.43% | -16.66% | +4.23% |
Max Drawdown (10Y)Largest decline over 10 years | -16.55% | -17.31% | +0.76% |
Current DrawdownCurrent decline from peak | -0.11% | -8.49% | +8.38% |
Average DrawdownAverage peak-to-trough decline | -2.10% | -4.86% | +2.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.70% | 1.38% | -0.68% |
Volatility
BND.TO vs. VBG.NEO - Volatility Comparison
Purpose Global Bond Fund (BND.TO) has a higher volatility of 1.22% compared to Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) (VBG.NEO) at 1.13%. This indicates that BND.TO's price experiences larger fluctuations and is considered to be riskier than VBG.NEO 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 | VBG.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 1.13% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 3.17% | -0.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.14% | 3.78% | -0.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.10% | 5.21% | -0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.15% | 4.62% | +0.53% |
Dividends
BND.TO vs. VBG.NEO - Dividend Comparison
BND.TO's dividend yield for the trailing twelve months is around 5.82%, more than VBG.NEO's 3.59% 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% |
VBG.NEO Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) | 3.59% | 3.46% | 3.25% | 3.54% | 1.14% | 2.91% | 0.64% | 2.54% | 2.34% | 1.74% | 1.41% | 1.26% |
Frequently Asked Questions
BND.TO and VBG.NEO have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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