CBH.TO vs. VCB.TO

Last updated Jun 4, 2026

CBH.TO (iShares 1-10 Year Laddered Corporate Bond Index ETF) and VCB.TO (Vanguard Canadian Corporate Bond Index ETF) are both Corporate Bonds funds - CBH.TO tracks the Morningstar Can Corp Bd GR CAD while VCB.TO tracks the Bloomberg Global Aggregate Canadian Corporate Float Adjusted Bond Index. Both are passively managed. Over the past 5 years, CBH.TO returned 2.17%/yr vs 2.32%/yr for VCB.TO. A 0.58 correlation means they provide meaningful diversification when combined. CBH.TO charges 0.28%/yr vs 0.17%/yr for VCB.TO.

Performance

CBH.TO vs. VCB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares 1-10 Year Laddered Corporate Bond Index ETF (CBH.TO) and Vanguard Canadian Corporate Bond Index ETF (VCB.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CBH.TO achieves a 1.29% return, which is significantly lower than VCB.TO's 1.58% return.

CBH.TO

• 1D: -0.06%
• 1M: 1.18%
• YTD: 1.29%
• 6M: 1.13%
• 1Y: 3.64%
• 3Y*: 5.45%
• 5Y*: 2.17%
• 10Y*: 2.41%

VCB.TO

• 1D: 0.04%
• 1M: 1.53%
• YTD: 1.58%
• 6M: 1.39%
• 1Y: 4.28%
• 3Y*: 6.09%
• 5Y*: 2.32%
• 10Y*: —

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

CBH.TO vs. VCB.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CBH.TO iShares 1-10 Year Laddered Corporate Bond Index ETF	1.29%	4.60%	6.19%	6.48%	-6.85%	-2.08%	7.99%	5.62%	0.92%	0.07%
VCB.TO Vanguard Canadian Corporate Bond Index ETF	1.58%	4.46%	6.63%	7.98%	-8.96%	-1.55%	8.11%	6.20%	0.28%	1.75%

Correlation

The correlation between CBH.TO and VCB.TO is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since Feb 10, 2017	0.58

The correlation between CBH.TO and VCB.TO shifts across timeframes, from 0.58 (all time) to 0.77 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

CBH.TO vs. VCB.TO — Risk / Return Rank

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

CBH.TO

CBH.TO Risk / Return Rank: 34
CBH.TO Sharpe Ratio Rank: 33
CBH.TO Sortino Ratio Rank: 32
CBH.TO Omega Ratio Rank: 33
CBH.TO Calmar Ratio Rank: 35
CBH.TO Martin Ratio Rank: 34

VCB.TO

VCB.TO Risk / Return Rank: 34
VCB.TO Sharpe Ratio Rank: 34
VCB.TO Sortino Ratio Rank: 33
VCB.TO Omega Ratio Rank: 34
VCB.TO Calmar Ratio Rank: 35
VCB.TO Martin Ratio Rank: 35

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.

CBH.TO vs. VCB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares 1-10 Year Laddered Corporate Bond Index ETF (CBH.TO) and Vanguard Canadian Corporate Bond Index ETF (VCB.TO). 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.

	CBH.TO	VCB.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.19	1.26	-0.07
Sortino ratio: Return per unit of downside risk	1.70	1.76	-0.06
Omega ratio: Gain probability vs. loss probability	1.22	1.23	-0.01
Calmar ratio: Return relative to maximum drawdown	1.71	1.75	-0.04
Martin ratio: Return relative to average drawdown	5.14	5.51	-0.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CBH.TO vs. VCB.TO - Sharpe Ratio Comparison

The current CBH.TO Sharpe Ratio is 1.19, which is comparable to the VCB.TO Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of CBH.TO and VCB.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CBH.TO	VCB.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.19	1.26	-0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.48	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.49	+0.02

Drawdowns

CBH.TO vs. VCB.TO - Drawdown Comparison

The maximum CBH.TO drawdown since its inception was -16.36%, which is greater than VCB.TO's maximum drawdown of -13.99%. Use the drawdown chart below to compare losses from any high point for CBH.TO and VCB.TO.

Drawdown Indicators

	CBH.TO	VCB.TO	Difference
Max Drawdown Largest peak-to-trough decline	-16.36%	-13.99%	-2.37%
Max Drawdown (1Y) Largest decline over 1 year	-2.14%	-2.45%	+0.31%
Max Drawdown (3Y) Largest decline over 3 years	-2.14%	-3.22%	+1.08%
Max Drawdown (5Y) Largest decline over 5 years	-10.50%	-13.17%	+2.67%
Max Drawdown (10Y) Largest decline over 10 years	-16.36%	—	—
Current Drawdown Current decline from peak	-0.31%	-0.03%	-0.28%
Average Drawdown Average peak-to-trough decline	-1.83%	-2.86%	+1.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.71%	0.78%	-0.07%

Volatility

CBH.TO vs. VCB.TO - Volatility Comparison

The current volatility for iShares 1-10 Year Laddered Corporate Bond Index ETF (CBH.TO) is 1.07%, while Vanguard Canadian Corporate Bond Index ETF (VCB.TO) has a volatility of 1.26%. This indicates that CBH.TO experiences smaller price fluctuations and is considered to be less risky than VCB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CBH.TO	VCB.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.07%	1.26%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	2.28%	2.64%	-0.36%
Volatility (1Y) Calculated over the trailing 1-year period	3.07%	3.42%	-0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.02%	4.89%	-0.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.47%	5.51%	+0.96%

CBH.TO vs. VCB.TO - Expense Ratio Comparison

CBH.TO has a 0.28% expense ratio, which is higher than VCB.TO's 0.17% expense ratio.

Dividends

CBH.TO vs. VCB.TO - Dividend Comparison

CBH.TO's dividend yield for the trailing twelve months is around 3.36%, less than VCB.TO's 3.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CBH.TO iShares 1-10 Year Laddered Corporate Bond Index ETF	3.36%	3.32%	3.21%	3.28%	3.17%	2.91%	2.92%	3.33%	3.65%	3.82%	3.86%	3.90%
VCB.TO Vanguard Canadian Corporate Bond Index ETF	3.87%	3.88%	3.74%	3.41%	3.21%	2.69%	2.75%	2.82%	2.85%	2.51%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CBH.TO and VCB.TO in my portfolio?

CBH.TO and VCB.TO have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CBH.TO or VCB.TO?

On fees, VCB.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CBH.TO or VCB.TO?

VCB.TO is cheaper with a 0.17% expense ratio, compared with 0.28% for CBH.TO.

What is the main difference between CBH.TO and VCB.TO?

CBH.TO tracks Morningstar Can Corp Bd GR CAD, while VCB.TO tracks Bloomberg Global Aggregate Canadian Corporate Float Adjusted Bond Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.28% for CBH.TO and 0.17% for VCB.TO.