BNKL.TO vs. VOO

Last updated Jul 14, 2026

BNKL.TO (Global X Enhanced Equal Weight Banks Index ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - BNKL.TO is a Financials Equities fund tracking the Solactive Equal Weight Canada Banks Index, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 3 years, BNKL.TO returned 45.31%/yr vs 23.31%/yr for VOO. At a 0.22 correlation, their price movements are largely independent. BNKL.TO charges 1.33%/yr vs 0.03%/yr for VOO.

Performance

BNKL.TO vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Enhanced Equal Weight Banks Index ETF (BNKL.TO) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

BNKL.TO is traded in CAD, while VOO is traded in USD. To make them comparable, the VOO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, BNKL.TO achieves a 41.88% return, which is significantly higher than VOO's 14.29% return.

BNKL.TO

• 1D: 1.01%
• 1M: 9.85%
• 6M: 40.22%
• YTD: 41.88%
• 1Y: 92.78%
• 3Y*: 45.31%
• 5Y*: —
• 10Y*: —

VOO

• 1D: -0.72%
• 1M: 2.69%
• 6M: 10.34%
• YTD: 14.29%
• 1Y: 26.10%
• 3Y*: 23.31%
• 5Y*: 15.84%
• 10Y*: 16.24%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BNKL.TO vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BNKL.TO Global X Enhanced Equal Weight Banks Index ETF	41.88%	55.98%	29.92%	7.40%
VOO Vanguard S&P 500 ETF	14.23%	12.44%	35.56%	6.96%

Correlation

The correlation between BNKL.TO and VOO is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (All Time) Calculated using the full available price history since Jul 14, 2023	0.22

The correlation between BNKL.TO and VOO shifts across timeframes, from 0.22 (all time) to 0.38 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

BNKL.TO vs. VOO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BNKL.TO

BNKL.TO Risk / Return Rank: 98
BNKL.TO Sharpe Ratio Rank: 99
BNKL.TO Sortino Ratio Rank: 98
BNKL.TO Omega Ratio Rank: 98
BNKL.TO Calmar Ratio Rank: 97
BNKL.TO Martin Ratio Rank: 97

VOO

VOO Risk / Return Rank: 66
VOO Sharpe Ratio Rank: 66
VOO Sortino Ratio Rank: 65
VOO Omega Ratio Rank: 66
VOO Calmar Ratio Rank: 61
VOO Martin Ratio Rank: 72

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BNKL.TO vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Enhanced Equal Weight Banks Index ETF (BNKL.TO) and Vanguard S&P 500 ETF (VOO). 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.

	BNKL.TO	VOO	Difference
Sharpe ratio: Return per unit of total volatility	5.88	2.05	+3.83
Sortino ratio: Return per unit of downside risk	7.44	2.84	+4.60
Omega ratio: Gain probability vs. loss probability	2.02	1.36	+0.66
Calmar ratio: Return relative to maximum drawdown	8.65	2.93	+5.72
Martin ratio: Return relative to average drawdown	37.46	10.95	+26.51

BNKL.TO vs. VOO - Sharpe Ratio Comparison

The current BNKL.TO Sharpe Ratio is 5.88, which is higher than the VOO Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of BNKL.TO and VOO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BNKL.TO vs. VOO - Drawdown Comparison

The maximum BNKL.TO drawdown since its inception was -18.58%, smaller than the maximum VOO drawdown of -27.99%. Use the drawdown chart below to compare losses from any high point for BNKL.TO and VOO.

Drawdown Indicators

	BNKL.TO	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-18.58%	-27.99%	+9.41%
Max Drawdown (1Y) Largest decline over 1 year	-10.79%	-8.94%	-1.85%
Max Drawdown (3Y) Largest decline over 3 years	-18.58%	-19.34%	+0.76%
Max Drawdown (5Y) Largest decline over 5 years	—	-22.60%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-27.99%	—
Current Drawdown Current decline from peak	0.00%	-0.72%	+0.72%
Average Drawdown Average peak-to-trough decline	-2.96%	-3.33%	+0.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	2.39%	+0.10%

Volatility

BNKL.TO vs. VOO - Volatility Comparison

Global X Enhanced Equal Weight Banks Index ETF (BNKL.TO) has a higher volatility of 4.82% compared to Vanguard S&P 500 ETF (VOO) at 4.29%. This indicates that BNKL.TO's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNKL.TO	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.82%	4.29%	+0.53%
Volatility (6M) Calculated over the trailing 6-month period	13.49%	10.35%	+3.14%
Volatility (1Y) Calculated over the trailing 1-year period	15.91%	12.84%	+3.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.81%	17.85%	-2.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.81%	19.05%	-3.24%

BNKL.TO vs. VOO - Expense Ratio Comparison

BNKL.TO has a 1.33% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

BNKL.TO vs. VOO - Dividend Comparison

BNKL.TO's dividend yield for the trailing twelve months is around 2.58%, more than VOO's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BNKL.TO Global X Enhanced Equal Weight Banks Index ETF	2.58%	3.40%	4.39%	2.79%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VOO Vanguard S&P 500 ETF	1.07%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both BNKL.TO and VOO in my portfolio?

BNKL.TO and VOO have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BNKL.TO or VOO?

On fees, VOO is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BNKL.TO or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 1.33% for BNKL.TO.

What is the main difference between BNKL.TO and VOO?

BNKL.TO is categorized as Financials Equities, while VOO is S&P 500. BNKL.TO tracks Solactive Equal Weight Canada Banks Index, while VOO tracks S&P 500 Index. They also come from different issuers: Global X and Vanguard. Their fees differ too: 1.33% for BNKL.TO and 0.03% for VOO.