CRQ.NEO vs. VCE.TO
CRQ.NEO (iShares Canadian Fundamental Index ETF) and VCE.TO (Vanguard FTSE Canada Index ETF) are both Canada Equities funds - CRQ.NEO tracks the FTSE RAFI Canada Index while VCE.TO tracks the FTSE Canada Domestic Index. Both are passively managed. Over the past 10 years, CRQ.NEO returned 13.72%/yr vs 12.75%/yr for VCE.TO. Their correlation of 0.84 suggests significant overlap in exposure. CRQ.NEO charges 0.72%/yr vs 0.06%/yr for VCE.TO.
Performance
CRQ.NEO vs. VCE.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CRQ.NEO achieves a 21.35% return, which is significantly higher than VCE.TO's 13.00% return. Over the past 10 years, CRQ.NEO has outperformed VCE.TO with an annualized return of 13.72%, while VCE.TO has yielded a comparatively lower 12.75% annualized return.
CRQ.NEO
- 1D
- -0.03%
- 1M
- 2.62%
- 6M
- 16.94%
- YTD
- 21.35%
- 1Y
- 44.57%
- 3Y*
- 26.99%
- 5Y*
- 19.04%
- 10Y*
- 13.72%
VCE.TO
- 1D
- -0.27%
- 1M
- 1.30%
- 6M
- 9.06%
- YTD
- 13.00%
- 1Y
- 27.98%
- 3Y*
- 22.61%
- 5Y*
- 14.93%
- 10Y*
- 12.75%
CRQ.NEO vs. VCE.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CRQ.NEO iShares Canadian Fundamental Index ETF | 21.35% | 31.87% | 22.17% | 9.76% | 0.89% | 33.95% | -2.73% | 19.66% | -10.18% | 6.98% |
VCE.TO Vanguard FTSE Canada Index ETF | 13.00% | 26.45% | 21.50% | 12.34% | -5.14% | 28.63% | 4.18% | 23.06% | -7.82% | 8.84% |
Correlation
The correlation between CRQ.NEO and VCE.TO is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2011 | 0.84 |
The correlation between CRQ.NEO and VCE.TO shifts across timeframes, from 0.68 (1 year) to 0.84 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CRQ.NEO vs. VCE.TO — Risk / Return Rank
CRQ.NEO
VCE.TO
CRQ.NEO vs. VCE.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Canadian Fundamental Index ETF (CRQ.NEO) and Vanguard FTSE Canada Index ETF (VCE.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.
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.
| CRQ.NEO | VCE.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.19 | ||
| Sortino ratioReturn per unit of downside risk | +3.17 | ||
| Omega ratioGain probability vs. loss probability | 1.96 | 1.40 | +0.56 |
| Calmar ratioReturn relative to maximum drawdown | 6.58 | 3.48 | +3.10 |
| Martin ratioReturn relative to average drawdown | 31.79 | 15.86 | +15.93 |
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Drawdowns
CRQ.NEO vs. VCE.TO - Drawdown Comparison
The maximum CRQ.NEO drawdown since its inception was -41.75%, which is greater than VCE.TO's maximum drawdown of -35.93%. Use the drawdown chart below to compare losses from any high point for CRQ.NEO and VCE.TO.
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Drawdown Indicators
| CRQ.NEO | VCE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.75% | -35.93% | -5.82% |
Max Drawdown (1Y)Largest decline over 1 year | -6.84% | -8.09% | +1.25% |
Max Drawdown (3Y)Largest decline over 3 years | -11.70% | -12.15% | +0.45% |
Max Drawdown (5Y)Largest decline over 5 years | -15.82% | -15.86% | +0.04% |
Max Drawdown (10Y)Largest decline over 10 years | -41.75% | -35.93% | -5.82% |
Current DrawdownCurrent decline from peak | -0.03% | -0.27% | +0.24% |
Average DrawdownAverage peak-to-trough decline | -5.59% | -3.68% | -1.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.41% | 1.77% | -0.36% |
Volatility
CRQ.NEO vs. VCE.TO - Volatility Comparison
iShares Canadian Fundamental Index ETF (CRQ.NEO) has a higher volatility of 2.19% compared to Vanguard FTSE Canada Index ETF (VCE.TO) at 2.03%. This indicates that CRQ.NEO's price experiences larger fluctuations and is considered to be riskier than VCE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CRQ.NEO | VCE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.19% | 2.03% | +0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 8.17% | 10.05% | -1.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.20% | 12.66% | -2.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.40% | 12.83% | -0.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.19% | 14.98% | +1.21% |
CRQ.NEO vs. VCE.TO - Expense Ratio Comparison
CRQ.NEO has a 0.72% expense ratio, which is higher than VCE.TO's 0.06% expense ratio.
Dividends
CRQ.NEO vs. VCE.TO - Dividend Comparison
CRQ.NEO's dividend yield for the trailing twelve months is around 1.78%, less than VCE.TO's 2.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CRQ.NEO iShares Canadian Fundamental Index ETF | 1.78% | 2.18% | 2.72% | 2.97% | 2.90% | 2.17% | 2.98% | 2.71% | 2.46% | 1.91% | 1.89% | 3.09% |
VCE.TO Vanguard FTSE Canada Index ETF | 2.12% | 2.46% | 2.89% | 3.22% | 3.27% | 2.66% | 2.99% | 3.06% | 3.27% | 2.62% | 2.69% | 3.04% |
Frequently Asked Questions
CRQ.NEO and VCE.TO have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VCE.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VCE.TO is cheaper with a 0.06% expense ratio, compared with 0.72% for CRQ.NEO.
CRQ.NEO tracks FTSE RAFI Canada Index, while VCE.TO tracks FTSE Canada Domestic Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.72% for CRQ.NEO and 0.06% for VCE.TO.
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