FIE.TO vs. VCB.TO
FIE.TO (iShares Canadian Financial Monthly Income ETF) and VCB.TO (Vanguard Canadian Corporate Bond Index ETF) are both exchange-traded funds - FIE.TO is a Financials Equities fund actively managed by iShares, while VCB.TO is a Corporate Bonds fund tracking the Bloomberg Global Aggregate Canadian Corporate Float Adjusted Bond Index. FIE.TO is actively managed, while VCB.TO is passively managed. Over the past 5 years, FIE.TO returned 13.03%/yr vs 2.30%/yr for VCB.TO. At a 0.06 correlation, their price movements are largely independent. FIE.TO charges 0.74%/yr vs 0.17%/yr for VCB.TO.
Performance
FIE.TO vs. VCB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FIE.TO achieves a 14.56% return, which is significantly higher than VCB.TO's 1.62% return.
FIE.TO
- 1D
- 0.09%
- 1M
- 4.86%
- YTD
- 14.56%
- 6M
- 11.23%
- 1Y
- 32.60%
- 3Y*
- 26.44%
- 5Y*
- 13.03%
- 10Y*
- 12.31%
VCB.TO
- 1D
- 0.16%
- 1M
- 0.86%
- YTD
- 1.62%
- 6M
- 1.56%
- 1Y
- 4.02%
- 3Y*
- 6.17%
- 5Y*
- 2.30%
- 10Y*
- —
FIE.TO vs. VCB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FIE.TO iShares Canadian Financial Monthly Income ETF | 14.56% | 24.36% | 27.62% | 12.58% | -14.35% | 27.34% | 1.33% | 18.97% | -9.12% | 8.13% |
VCB.TO Vanguard Canadian Corporate Bond Index ETF | 1.62% | 4.46% | 6.63% | 7.98% | -8.96% | -1.55% | 8.33% | 4.76% | 0.29% | 3.19% |
Correlation
The correlation between FIE.TO and VCB.TO is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Feb 9, 2017 | 0.06 |
Over the past year, FIE.TO and VCB.TO have become more correlated (0.36) than their long-term average of 0.06, meaning their price movements have been converging.
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Return for Risk
FIE.TO vs. VCB.TO — Risk / Return Rank
FIE.TO
VCB.TO
FIE.TO vs. VCB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Canadian Financial Monthly Income ETF (FIE.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.
| FIE.TO | VCB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.47 | ||
| Sortino ratioReturn per unit of downside risk | +3.27 | ||
| Omega ratioGain probability vs. loss probability | 1.71 | 1.21 | +0.50 |
| Calmar ratioReturn relative to maximum drawdown | 4.55 | 1.65 | +2.91 |
| Martin ratioReturn relative to average drawdown | 14.80 | 5.21 | +9.59 |
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Drawdowns
FIE.TO vs. VCB.TO - Drawdown Comparison
The maximum FIE.TO drawdown since its inception was -42.24%, 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 FIE.TO and VCB.TO.
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Drawdown Indicators
| FIE.TO | VCB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.24% | -14.00% | -28.24% |
Max Drawdown (1Y)Largest decline over 1 year | -7.19% | -2.45% | -4.74% |
Max Drawdown (3Y)Largest decline over 3 years | -10.70% | -3.22% | -7.48% |
Max Drawdown (5Y)Largest decline over 5 years | -22.93% | -13.17% | -9.76% |
Max Drawdown (10Y)Largest decline over 10 years | -42.24% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.21% | +0.21% |
Average DrawdownAverage peak-to-trough decline | -4.88% | -3.05% | -1.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 0.77% | +1.44% |
Volatility
FIE.TO vs. VCB.TO - Volatility Comparison
iShares Canadian Financial Monthly Income ETF (FIE.TO) has a higher volatility of 2.54% compared to Vanguard Canadian Corporate Bond Index ETF (VCB.TO) at 1.04%. This indicates that FIE.TO's price experiences larger fluctuations and is considered to be riskier 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
| FIE.TO | VCB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.54% | 1.04% | +1.50% |
Volatility (6M)Calculated over the trailing 6-month period | 7.83% | 2.66% | +5.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.02% | 3.47% | +5.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.55% | 4.90% | +5.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.06% | 9.63% | +4.43% |
FIE.TO vs. VCB.TO - Expense Ratio Comparison
FIE.TO has a 0.74% expense ratio, which is higher than VCB.TO's 0.17% expense ratio.
Dividends
FIE.TO vs. VCB.TO - Dividend Comparison
FIE.TO's dividend yield for the trailing twelve months is around 4.34%, more than VCB.TO's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIE.TO iShares Canadian Financial Monthly Income ETF | 4.34% | 4.94% | 5.83% | 6.98% | 7.31% | 5.92% | 7.10% | 6.65% | 7.38% | 6.28% | 6.59% | 7.43% |
VCB.TO Vanguard Canadian Corporate Bond Index ETF | 3.86% | 3.88% | 3.74% | 3.41% | 3.21% | 2.69% | 2.75% | 2.86% | 2.86% | 2.51% | 0.00% | 0.00% |
Frequently Asked Questions
FIE.TO and VCB.TO have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
VCB.TO is cheaper with a 0.17% expense ratio, compared with 0.74% for FIE.TO.
FIE.TO is categorized as Financials Equities, while VCB.TO is Corporate Bonds. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.74% for FIE.TO and 0.17% for VCB.TO.
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