DXO.TO vs. VCB.TO
DXO.TO (Dynamic Active Crossover Bond ETF) and VCB.TO (Vanguard Canadian Corporate Bond Index ETF) are both Corporate Bonds funds. DXO.TO is actively managed, while VCB.TO is passively managed. Over the past 5 years, DXO.TO returned 2.78%/yr vs 2.12%/yr for VCB.TO. At a 0.20 correlation, their price movements are largely independent.
Performance
DXO.TO vs. VCB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, DXO.TO achieves a 1.86% return, which is significantly higher than VCB.TO's 1.27% return.
DXO.TO
- 1D
- 0.21%
- 1M
- 0.21%
- 6M
- 1.45%
- YTD
- 1.86%
- 1Y
- 5.69%
- 3Y*
- 7.29%
- 5Y*
- 2.78%
- 10Y*
- —
VCB.TO
- 1D
- 0.12%
- 1M
- -0.39%
- 6M
- 0.73%
- YTD
- 1.27%
- 1Y
- 4.47%
- 3Y*
- 6.01%
- 5Y*
- 2.12%
- 10Y*
- —
DXO.TO vs. VCB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DXO.TO Dynamic Active Crossover Bond ETF | 1.86% | 6.82% | 6.51% | 11.28% | -12.16% | 5.03% | 10.15% | 12.26% | -1.94% | 3.75% |
VCB.TO Vanguard Canadian Corporate Bond Index ETF | 1.27% | 4.46% | 6.63% | 7.98% | -8.96% | -1.55% | 8.33% | 4.76% | 0.29% | 3.19% |
Correlation
The correlation between DXO.TO and VCB.TO is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Feb 9, 2017 | 0.20 |
Over the past year, DXO.TO and VCB.TO have become more correlated (0.44) than their long-term average of 0.20, meaning their price movements have been converging.
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Return for Risk
DXO.TO vs. VCB.TO — Risk / Return Rank
DXO.TO
VCB.TO
DXO.TO vs. VCB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dynamic Active Crossover Bond ETF (DXO.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.
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.
| DXO.TO | VCB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.43 | ||
| Sortino ratioReturn per unit of downside risk | +0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.24 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.37 | 1.83 | +0.54 |
| Martin ratioReturn relative to average drawdown | 10.24 | 5.89 | +4.36 |
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Drawdowns
DXO.TO vs. VCB.TO - Drawdown Comparison
The maximum DXO.TO drawdown since its inception was -17.61%, which is greater than VCB.TO's maximum drawdown of -14.00%. Use the drawdown chart below to compare losses from any high point for DXO.TO and VCB.TO.
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Drawdown Indicators
| DXO.TO | VCB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.61% | -14.00% | -3.61% |
Max Drawdown (1Y)Largest decline over 1 year | -2.41% | -2.45% | +0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -3.78% | -3.21% | -0.57% |
Max Drawdown (5Y)Largest decline over 5 years | -15.91% | -13.17% | -2.74% |
Current DrawdownCurrent decline from peak | -0.51% | -0.67% | +0.16% |
Average DrawdownAverage peak-to-trough decline | -2.94% | -3.04% | +0.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 0.76% | -0.20% |
Volatility
DXO.TO vs. VCB.TO - Volatility Comparison
The current volatility for Dynamic Active Crossover Bond ETF (DXO.TO) is 0.97%, while Vanguard Canadian Corporate Bond Index ETF (VCB.TO) has a volatility of 1.19%. This indicates that DXO.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.
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Volatility by Period
| DXO.TO | VCB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 1.19% | -0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 2.65% | 2.79% | -0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.34% | 3.52% | -0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.63% | 4.91% | +0.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.74% | 9.61% | -1.87% |
Dividends
DXO.TO vs. VCB.TO - Dividend Comparison
DXO.TO's dividend yield for the trailing twelve months is around 5.31%, more than VCB.TO's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DXO.TO Dynamic Active Crossover Bond ETF | 5.31% | 5.55% | 5.61% | 5.65% | 5.29% | 4.15% | 4.20% | 3.96% | 4.31% | 2.15% |
VCB.TO Vanguard Canadian Corporate Bond Index ETF | 3.91% | 3.88% | 3.74% | 3.41% | 3.21% | 2.69% | 2.75% | 2.86% | 2.86% | 2.51% |
Frequently Asked Questions
DXO.TO and VCB.TO have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Dynamic and Vanguard.
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