DLR.TO vs. VI.TO

Last updated Jul 14, 2026

DLR.TO (Global X U.S. Dollar Currency ETF) and VI.TO (Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged)) are both exchange-traded funds - DLR.TO is a Currency fund actively managed by Global X, while VI.TO is a International Equity fund tracking the FTSE Developed All Cap ex North America Index. DLR.TO is actively managed, while VI.TO is passively managed. Over the past 10 years, DLR.TO returned 2.47%/yr vs 11.36%/yr for VI.TO. At a correlation of -0.33, they often move in opposite directions.

Performance

DLR.TO vs. VI.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X U.S. Dollar Currency ETF (DLR.TO) and Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged) (VI.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DLR.TO achieves a 4.60% return, which is significantly lower than VI.TO's 15.39% return. Over the past 10 years, DLR.TO has underperformed VI.TO with an annualized return of 2.47%, while VI.TO has yielded a comparatively higher 11.36% annualized return.

DLR.TO

• 1D: 0.07%
• 1M: 1.45%
• 6M: 3.41%
• YTD: 4.60%
• 1Y: 6.59%
• 3Y*: 5.96%
• 5Y*: 5.33%
• 10Y*: 2.47%

VI.TO

• 1D: -1.57%
• 1M: -1.08%
• 6M: 10.19%
• YTD: 15.39%
• 1Y: 30.25%
• 3Y*: 18.80%
• 5Y*: 12.53%
• 10Y*: 11.36%

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

DLR.TO vs. VI.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DLR.TO Global X U.S. Dollar Currency ETF	4.60%	-1.34%	12.85%	1.81%	8.33%	-0.93%	-2.21%	-3.68%	9.77%	-6.51%
VI.TO Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged)	15.39%	24.50%	10.42%	19.42%	-7.79%	17.72%	2.77%	21.87%	-11.37%	18.07%

Correlation

The correlation between DLR.TO and VI.TO is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.16
Correlation (3Y) Calculated over the trailing 3-year period	-0.26
Correlation (5Y) Calculated over the trailing 5-year period	-0.38
Correlation (10Y) Calculated over the trailing 10-year period	-0.32
Correlation (All Time) Calculated using the full available price history since Dec 8, 2015	-0.33

The correlation between DLR.TO and VI.TO shifts across timeframes, from -0.38 (5 years) to -0.16 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

DLR.TO vs. VI.TO — Risk / Return Rank

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

DLR.TO

DLR.TO Risk / Return Rank: 51
DLR.TO Sharpe Ratio Rank: 59
DLR.TO Sortino Ratio Rank: 58
DLR.TO Omega Ratio Rank: 60
DLR.TO Calmar Ratio Rank: 41
DLR.TO Martin Ratio Rank: 36

VI.TO

VI.TO Risk / Return Rank: 80
VI.TO Sharpe Ratio Rank: 81
VI.TO Sortino Ratio Rank: 80
VI.TO Omega Ratio Rank: 83
VI.TO Calmar Ratio Rank: 76
VI.TO Martin Ratio Rank: 81

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.

DLR.TO vs. VI.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X U.S. Dollar Currency ETF (DLR.TO) and Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged) (VI.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.

	DLR.TO	VI.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.56	2.05	-0.48
Sortino ratio: Return per unit of downside risk	2.22	2.83	-0.61
Omega ratio: Gain probability vs. loss probability	1.29	1.39	-0.10
Calmar ratio: Return relative to maximum drawdown	1.68	3.10	-1.42
Martin ratio: Return relative to average drawdown	4.44	12.31	-7.88

DLR.TO vs. VI.TO - Sharpe Ratio Comparison

The current DLR.TO Sharpe Ratio is 1.56, which is comparable to the VI.TO Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of DLR.TO and VI.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.

Drawdowns

DLR.TO vs. VI.TO - Drawdown Comparison

The maximum DLR.TO drawdown since its inception was -17.60%, smaller than the maximum VI.TO drawdown of -33.53%. Use the drawdown chart below to compare losses from any high point for DLR.TO and VI.TO.

Drawdown Indicators

	DLR.TO	VI.TO	Difference
Max Drawdown Largest peak-to-trough decline	-17.60%	-33.53%	+15.93%
Max Drawdown (1Y) Largest decline over 1 year	-3.94%	-9.80%	+5.86%
Max Drawdown (3Y) Largest decline over 3 years	-5.77%	-13.80%	+8.03%
Max Drawdown (5Y) Largest decline over 5 years	-5.77%	-16.65%	+10.88%
Max Drawdown (10Y) Largest decline over 10 years	-17.60%	-33.53%	+15.93%
Current Drawdown Current decline from peak	-0.37%	-4.10%	+3.73%
Average Drawdown Average peak-to-trough decline	-6.41%	-4.16%	-2.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.49%	2.46%	-0.97%

Volatility

DLR.TO vs. VI.TO - Volatility Comparison

The current volatility for Global X U.S. Dollar Currency ETF (DLR.TO) is 1.05%, while Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged) (VI.TO) has a volatility of 5.32%. This indicates that DLR.TO experiences smaller price fluctuations and is considered to be less risky than VI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DLR.TO	VI.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.05%	5.32%	-4.27%
Volatility (6M) Calculated over the trailing 6-month period	3.11%	13.14%	-10.03%
Volatility (1Y) Calculated over the trailing 1-year period	4.24%	14.87%	-10.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.22%	14.12%	-7.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.57%	15.73%	-9.16%

Dividends

DLR.TO vs. VI.TO - Dividend Comparison

DLR.TO's dividend yield for the trailing twelve months is around 3.88%, more than VI.TO's 2.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DLR.TO Global X U.S. Dollar Currency ETF	3.88%	3.33%	3.23%	4.98%	0.00%	0.00%	0.00%	0.57%	0.00%	0.00%	0.00%	0.00%
VI.TO Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged)	2.28%	2.44%	2.60%	2.61%	2.84%	2.31%	1.98%	2.64%	2.75%	2.07%	1.62%	0.27%

Frequently Asked Questions

Can I hold both DLR.TO and VI.TO in my portfolio?

DLR.TO and VI.TO have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between DLR.TO and VI.TO?

DLR.TO is categorized as Currency, while VI.TO is International Equity. They also come from different issuers: Global X and Vanguard.