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HAD.TO vs. VAB.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HAD.TO vs. VAB.TO

Last updated Jul 16, 2026
Documentation

HAD.TO (Global X Active Canadian Bond ETF) and VAB.TO (Vanguard Canadian Aggregate Bond Index ETF) are both Total Bond Market funds. HAD.TO is actively managed, while VAB.TO is passively managed. Over the past 10 years, HAD.TO returned 1.37%/yr vs 1.43%/yr for VAB.TO. At a 0.38 correlation, their price movements are largely independent.

Performance

HAD.TO vs. VAB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Active Canadian Bond ETF (HAD.TO) and Vanguard Canadian Aggregate Bond Index ETF (VAB.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HAD.TO achieves a 0.97% return, which is significantly lower than VAB.TO's 1.23% return. Both investments have delivered pretty close results over the past 10 years, with HAD.TO having a 1.37% annualized return and VAB.TO not far ahead at 1.43%.

HAD.TO

1D
0.33%
1M
-0.58%
6M
0.64%
YTD
0.97%
1Y
4.00%
3Y*
4.26%
5Y*
0.24%
10Y*
1.37%

VAB.TO

1D
0.26%
1M
-0.49%
6M
0.66%
YTD
1.23%
1Y
4.33%
3Y*
4.15%
5Y*
0.31%
10Y*
1.43%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HAD.TO vs. VAB.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HAD.TO
Global X Active Canadian Bond ETF		0.97%3.04%4.29%6.25%-12.17%-4.66%9.99%5.62%2.59%4.69%
VAB.TO
Vanguard Canadian Aggregate Bond Index ETF		1.23%2.28%3.98%6.90%-11.86%-2.88%8.27%6.78%1.14%2.54%

Correlation

The correlation between HAD.TO and VAB.TO is 0.50, 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

0.50

Correlation (3Y)
Calculated over the trailing 3-year period

0.42

Correlation (5Y)
Calculated over the trailing 5-year period

0.42

Correlation (10Y)
Calculated over the trailing 10-year period

0.40

Correlation (All Time)
Calculated using the full available price history since Oct 12, 2012

0.38

The correlation between HAD.TO and VAB.TO shifts across timeframes, from 0.38 (all time) to 0.50 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Global X Active Canadian Bond ETF

Vanguard Canadian Aggregate Bond Index ETF

Often compared with VAB.TO:
VAB.TO vs. ZAG.TOVAB.TO vs. XBB.TOVAB.TO vs. XCB.TOVAB.TO vs. VSB.TOVAB.TO vs. VFV.TOVAB.TO vs. VEQT.TOVAB.TO vs. TLT

Return for Risk

HAD.TO vs. VAB.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HAD.TO
HAD.TO Risk / Return Rank: 2727
Overall Rank
HAD.TO Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
HAD.TO Sortino Ratio Rank: 2525
Sortino Ratio Rank
HAD.TO Omega Ratio Rank: 2424
Omega Ratio Rank
HAD.TO Calmar Ratio Rank: 3131
Calmar Ratio Rank
HAD.TO Martin Ratio Rank: 3030
Martin Ratio Rank
VAB.TO
VAB.TO Risk / Return Rank: 3333
Overall Rank
VAB.TO Sharpe Ratio Rank: 3434
Sharpe Ratio Rank
VAB.TO Sortino Ratio Rank: 3030
Sortino Ratio Rank
VAB.TO Omega Ratio Rank: 3232
Omega Ratio Rank
VAB.TO Calmar Ratio Rank: 3737
Calmar Ratio Rank
VAB.TO Martin Ratio Rank: 3232
Martin Ratio Rank
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.

HAD.TO vs. VAB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Active Canadian Bond ETF (HAD.TO) and Vanguard Canadian Aggregate Bond Index ETF (VAB.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.

HAD.TOVAB.TODifference
Sharpe ratioReturn per unit of total volatility
0.81
1.01

-0.20

Sortino ratioReturn per unit of downside risk
1.20
1.38

-0.18

Omega ratioGain probability vs. loss probability

1.15

1.18

-0.03

Calmar ratioReturn relative to maximum drawdown

1.32

1.53

-0.22

Martin ratioReturn relative to average drawdown

3.48

3.85

-0.37

HAD.TO vs. VAB.TO - Sharpe Ratio Comparison

The current HAD.TO Sharpe Ratio is 0.81, which is comparable to the VAB.TO Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of HAD.TO and VAB.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.

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Drawdowns

HAD.TO vs. VAB.TO - Drawdown Comparison

The maximum HAD.TO drawdown since its inception was -22.77%, which is greater than VAB.TO's maximum drawdown of -18.39%. Use the drawdown chart below to compare losses from any high point for HAD.TO and VAB.TO.

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Drawdown Indicators

HAD.TOVAB.TODifference

Max Drawdown

Largest peak-to-trough decline

-22.77%

-18.39%

-4.38%

Max Drawdown (1Y)

Largest decline over 1 year

-3.05%

-2.83%

-0.22%

Max Drawdown (3Y)

Largest decline over 3 years

-5.95%

-4.84%

-1.11%

Max Drawdown (5Y)

Largest decline over 5 years

-17.19%

-15.82%

-1.37%

Max Drawdown (10Y)

Largest decline over 10 years

-22.77%

-18.39%

-4.38%

Current Drawdown

Current decline from peak

-4.38%

-2.29%

-2.09%

Average Drawdown

Average peak-to-trough decline

-5.45%

-4.06%

-1.39%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.15%

1.13%

+0.02%

Volatility

HAD.TO vs. VAB.TO - Volatility Comparison

Global X Active Canadian Bond ETF (HAD.TO) has a higher volatility of 1.46% compared to Vanguard Canadian Aggregate Bond Index ETF (VAB.TO) at 1.24%. This indicates that HAD.TO's price experiences larger fluctuations and is considered to be riskier than VAB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HAD.TOVAB.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.46%

1.24%

+0.22%

Volatility (6M)

Calculated over the trailing 6-month period

3.61%

3.42%

+0.19%

Volatility (1Y)

Calculated over the trailing 1-year period

4.98%

4.37%

+0.61%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.06%

6.58%

+0.48%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.90%

6.46%

+2.44%

Dividends

HAD.TO vs. VAB.TO - Dividend Comparison

HAD.TO's dividend yield for the trailing twelve months is around 3.73%, more than VAB.TO's 3.35% yield.

PositionTTM20252024202320222021202020192018201720162015
HAD.TO
Global X Active Canadian Bond ETF		3.73%3.46%3.14%3.04%3.12%2.09%2.04%2.29%2.64%2.85%2.96%2.61%
VAB.TO
Vanguard Canadian Aggregate Bond Index ETF		3.35%3.33%3.19%2.95%2.87%2.48%2.51%2.65%2.80%2.99%2.75%2.79%

Frequently Asked Questions

HAD.TO and VAB.TO have a correlation of 0.50, 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: Global X and Vanguard.

Portfolio Optimizer

Find the right allocation for HAD.TO and VAB.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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