CLF.TO vs. VBG.NEO
CLF.TO (iShares 1-5 Year Laddered Government Bond Index ETF) and VBG.NEO (Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged)) are both exchange-traded funds - CLF.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD, while VBG.NEO is a Global Bonds fund tracking the Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index (CAD Hedged). Both are passively managed. Over the past 10 years, CLF.TO returned 1.81%/yr vs 0.30%/yr for VBG.NEO. A 0.51 correlation means they provide meaningful diversification when combined. CLF.TO charges 0.17%/yr vs 0.39%/yr for VBG.NEO.
Performance
CLF.TO vs. VBG.NEO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CLF.TO achieves a 0.83% return, which is significantly higher than VBG.NEO's -0.37% return. Over the past 10 years, CLF.TO has outperformed VBG.NEO with an annualized return of 1.81%, while VBG.NEO has yielded a comparatively lower 0.30% annualized return.
CLF.TO
- 1D
- -0.11%
- 1M
- 0.76%
- YTD
- 0.83%
- 6M
- 0.50%
- 1Y
- 2.45%
- 3Y*
- 4.12%
- 5Y*
- 1.72%
- 10Y*
- 1.81%
VBG.NEO
- 1D
- -0.32%
- 1M
- 0.52%
- YTD
- -0.37%
- 6M
- -1.06%
- 1Y
- -0.73%
- 3Y*
- 1.73%
- 5Y*
- -1.36%
- 10Y*
- 0.30%
CLF.TO vs. VBG.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CLF.TO iShares 1-5 Year Laddered Government Bond Index ETF | 0.83% | 3.36% | 4.82% | 4.58% | -3.98% | -1.27% | 5.53% | 3.97% | 1.68% | -0.49% |
VBG.NEO Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) | -0.37% | 0.14% | 1.68% | 6.85% | -13.38% | -3.03% | 3.87% | 6.33% | 1.34% | 1.78% |
Correlation
The correlation between CLF.TO and VBG.NEO is 0.50, 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 | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2014 | 0.51 |
The correlation between CLF.TO and VBG.NEO shifts across timeframes, from 0.50 (1 year) to 0.62 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CLF.TO vs. VBG.NEO — Risk / Return Rank
CLF.TO
VBG.NEO
CLF.TO vs. VBG.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 1-5 Year Laddered Government Bond Index ETF (CLF.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.
| CLF.TO | VBG.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.40 | ||
| Sortino ratioReturn per unit of downside risk | +1.90 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 0.97 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.78 | -0.23 | +2.01 |
| Martin ratioReturn relative to average drawdown | 5.12 | -0.56 | +5.68 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| CLF.TO | VBG.NEO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.20 | -0.19 | +1.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.58 | -0.26 | +0.85 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.06 | +0.47 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 0.23 | +0.49 |
Drawdowns
CLF.TO vs. VBG.NEO - Drawdown Comparison
The maximum CLF.TO drawdown since its inception was -6.91%, smaller than the maximum VBG.NEO drawdown of -17.31%. Use the drawdown chart below to compare losses from any high point for CLF.TO and VBG.NEO.
Loading charts...
Drawdown Indicators
| CLF.TO | VBG.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.91% | -17.31% | +10.40% |
Max Drawdown (1Y)Largest decline over 1 year | -1.38% | -3.17% | +1.79% |
Max Drawdown (3Y)Largest decline over 3 years | -1.42% | -3.17% | +1.75% |
Max Drawdown (5Y)Largest decline over 5 years | -6.80% | -16.66% | +9.86% |
Max Drawdown (10Y)Largest decline over 10 years | -6.91% | -17.31% | +10.40% |
Current DrawdownCurrent decline from peak | -0.34% | -9.13% | +8.79% |
Average DrawdownAverage peak-to-trough decline | -1.08% | -4.86% | +3.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 1.31% | -0.83% |
Volatility
CLF.TO vs. VBG.NEO - Volatility Comparison
The current volatility for iShares 1-5 Year Laddered Government Bond Index ETF (CLF.TO) is 0.72%, while Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) (VBG.NEO) has a volatility of 1.84%. This indicates that CLF.TO experiences smaller price fluctuations and is considered to be less risky than VBG.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CLF.TO | VBG.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.72% | 1.84% | -1.12% |
Volatility (6M)Calculated over the trailing 6-month period | 1.62% | 3.13% | -1.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.04% | 3.77% | -1.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.98% | 5.20% | -2.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.37% | 4.62% | -1.25% |
CLF.TO vs. VBG.NEO - Expense Ratio Comparison
CLF.TO has a 0.17% expense ratio, which is lower than VBG.NEO's 0.39% expense ratio.
Dividends
CLF.TO vs. VBG.NEO - Dividend Comparison
CLF.TO's dividend yield for the trailing twelve months is around 2.25%, less than VBG.NEO's 3.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CLF.TO iShares 1-5 Year Laddered Government Bond Index ETF | 2.25% | 2.22% | 2.22% | 2.23% | 2.10% | 1.98% | 2.81% | 3.93% | 2.67% | 2.91% | 3.12% | 3.29% |
VBG.NEO Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) | 3.61% | 3.46% | 3.25% | 3.44% | 1.14% | 2.91% | 0.64% | 2.54% | 2.34% | 1.74% | 1.41% | 1.26% |
Frequently Asked Questions
CLF.TO and VBG.NEO have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CLF.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CLF.TO is cheaper with a 0.17% expense ratio, compared with 0.39% for VBG.NEO.
CLF.TO is categorized as Canadian Government Bonds, while VBG.NEO is Global Bonds. CLF.TO tracks Morningstar Can 1-5Y Core Bd GR CAD, while VBG.NEO tracks Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index (CAD Hedged). They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.17% for CLF.TO and 0.39% for VBG.NEO.
Find the right allocation for CLF.TO and VBG.NEO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer