FIE.TO vs. VCN.TO
FIE.TO (iShares Canadian Financial Monthly Income ETF) and VCN.TO (Vanguard FTSE Canada All Cap Index ETF) are both Canada Equities funds - FIE.TO tracks the Morningstar Can Equity Tgt Alloc NR CAD while VCN.TO tracks the FTSE Canada All Cap Domestic Index. Both are passively managed. Over the past 10 years, FIE.TO returned 11.97%/yr vs 12.51%/yr for VCN.TO. A 0.71 correlation means they provide meaningful diversification when combined. FIE.TO charges 0.85%/yr vs 0.06%/yr for VCN.TO.
Performance
FIE.TO vs. VCN.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FIE.TO achieves a 9.66% return, which is significantly lower than VCN.TO's 11.80% return. Both investments have delivered pretty close results over the past 10 years, with FIE.TO having a 11.97% annualized return and VCN.TO not far ahead at 12.51%.
FIE.TO
- 1D
- 1.03%
- 1M
- 3.66%
- YTD
- 9.66%
- 6M
- 12.58%
- 1Y
- 32.54%
- 3Y*
- 25.37%
- 5Y*
- 12.94%
- 10Y*
- 11.97%
VCN.TO
- 1D
- 1.20%
- 1M
- 5.07%
- YTD
- 11.80%
- 6M
- 12.19%
- 1Y
- 35.18%
- 3Y*
- 24.11%
- 5Y*
- 15.12%
- 10Y*
- 12.51%
FIE.TO vs. VCN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FIE.TO iShares Canadian Financial Monthly Income ETF | 9.66% | 28.28% | 27.54% | 12.58% | -14.35% | 29.02% | 1.33% | 18.97% | -9.12% | 12.01% |
VCN.TO Vanguard FTSE Canada All Cap Index ETF | 11.80% | 30.20% | 22.14% | 12.26% | -5.78% | 25.63% | 4.81% | 22.06% | -9.11% | 8.44% |
Correlation
The correlation between FIE.TO and VCN.TO is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Aug 14, 2013 | 0.71 |
The correlation between FIE.TO and VCN.TO shifts across timeframes, from 0.71 (all time) to 0.81 (5 years), reflecting how their relationship changes across market environments.
FIE.TO vs. VCN.TO - Sectors Allocation Comparison
Sectors
FIE.TO
VCN.TO
Financial Services
Real Estate
Basic Materials
-
Communication Services
-
Consumer Cyclical
-
Consumer Defensive
-
Energy
-
Healthcare
-
Industrials
-
Technology
-
Utilities
-
Financial Services
FIE.TO
VCN.TO
Real Estate
FIE.TO
VCN.TO
Basic Materials
FIE.TO
-
VCN.TO
Communication Services
FIE.TO
-
VCN.TO
Consumer Cyclical
FIE.TO
-
VCN.TO
Consumer Defensive
FIE.TO
-
VCN.TO
Energy
FIE.TO
-
VCN.TO
Healthcare
FIE.TO
-
VCN.TO
Industrials
FIE.TO
-
VCN.TO
Technology
FIE.TO
-
VCN.TO
Utilities
FIE.TO
-
VCN.TO
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Return for Risk
FIE.TO vs. VCN.TO — Risk / Return Rank
FIE.TO
VCN.TO
FIE.TO vs. VCN.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 FTSE Canada All Cap Index ETF (VCN.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.
| FIE.TO | VCN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.08 | ||
| Sortino ratioReturn per unit of downside risk | +2.05 | ||
| Omega ratioGain probability vs. loss probability | 1.74 | 1.51 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 5.73 | 3.88 | +1.85 |
| Martin ratioReturn relative to average drawdown | 23.64 | 18.13 | +5.51 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FIE.TO | VCN.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.88 | 2.80 | +1.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.25 | 1.17 | +0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.86 | 0.84 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.76 | 0.78 | -0.02 |
Drawdowns
FIE.TO vs. VCN.TO - Drawdown Comparison
The maximum FIE.TO drawdown since its inception was -42.24%, which is greater than VCN.TO's maximum drawdown of -37.32%. Use the drawdown chart below to compare losses from any high point for FIE.TO and VCN.TO.
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Drawdown Indicators
| FIE.TO | VCN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.24% | -37.32% | -4.92% |
Max Drawdown (1Y)Largest decline over 1 year | -5.70% | -9.11% | +3.41% |
Max Drawdown (3Y)Largest decline over 3 years | -10.70% | -12.24% | +1.54% |
Max Drawdown (5Y)Largest decline over 5 years | -22.93% | -16.12% | -6.81% |
Max Drawdown (10Y)Largest decline over 10 years | -42.24% | -37.32% | -4.92% |
Current DrawdownCurrent decline from peak | -0.28% | 0.00% | -0.28% |
Average DrawdownAverage peak-to-trough decline | -4.87% | -3.90% | -0.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.38% | 1.95% | -0.57% |
Volatility
FIE.TO vs. VCN.TO - Volatility Comparison
The current volatility for iShares Canadian Financial Monthly Income ETF (FIE.TO) is 2.99%, while Vanguard FTSE Canada All Cap Index ETF (VCN.TO) has a volatility of 3.54%. This indicates that FIE.TO experiences smaller price fluctuations and is considered to be less risky than VCN.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 | VCN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.99% | 3.54% | -0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 7.21% | 10.32% | -3.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.43% | 12.62% | -4.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.45% | 13.04% | -2.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.04% | 14.98% | -0.94% |
FIE.TO vs. VCN.TO - Expense Ratio Comparison
FIE.TO has a 0.85% expense ratio, which is higher than VCN.TO's 0.06% expense ratio.
Dividends
FIE.TO vs. VCN.TO - Dividend Comparison
FIE.TO's dividend yield for the trailing twelve months is around 4.47%, more than VCN.TO's 1.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIE.TO iShares Canadian Financial Monthly Income ETF | 4.47% | 4.81% | 5.84% | 6.98% | 7.31% | 5.85% | 7.10% | 6.65% | 7.38% | 6.28% | 6.59% | 7.43% |
VCN.TO Vanguard FTSE Canada All Cap Index ETF | 1.98% | 2.27% | 2.69% | 2.99% | 3.15% | 2.48% | 2.70% | 2.85% | 2.80% | 2.29% | 2.34% | 2.65% |
Frequently Asked Questions
FIE.TO and VCN.TO have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VCN.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VCN.TO is cheaper with a 0.06% expense ratio, compared with 0.85% for FIE.TO.
FIE.TO tracks Morningstar Can Equity Tgt Alloc NR CAD, while VCN.TO tracks FTSE Canada All Cap Domestic Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.85% for FIE.TO and 0.06% for VCN.TO.
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