HBB.TO vs. VAB.TO
HBB.TO (Global X Canadian Select Universe Bond Index Corporate Class ETF) and VAB.TO (Vanguard Canadian Aggregate Bond Index ETF) are both exchange-traded funds - HBB.TO is a Total Bond Market fund tracking the Solactive Canadian Select Universe Bond, while VAB.TO is a Canadian Government Bonds fund tracking the Bloomberg Global Aggregate Canadian Float Adjusted Bond Index. Both are passively managed. Over the past 10 years, HBB.TO returned 1.30%/yr vs 1.51%/yr for VAB.TO. Their correlation of 0.80 suggests significant overlap in exposure. Both charge a 0.09% expense ratio.
Performance
HBB.TO vs. VAB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HBB.TO achieves a 1.48% return, which is significantly lower than VAB.TO's 1.62% return. Over the past 10 years, HBB.TO has underperformed VAB.TO with an annualized return of 1.30%, while VAB.TO has yielded a comparatively higher 1.51% annualized return.
HBB.TO
- 1D
- -0.04%
- 1M
- 1.71%
- YTD
- 1.48%
- 6M
- 0.58%
- 1Y
- 2.70%
- 3Y*
- 3.63%
- 5Y*
- 0.33%
- 10Y*
- 1.30%
VAB.TO
- 1D
- -0.07%
- 1M
- 1.70%
- YTD
- 1.62%
- 6M
- 0.78%
- 1Y
- 3.12%
- 3Y*
- 4.12%
- 5Y*
- 0.66%
- 10Y*
- 1.51%
HBB.TO vs. VAB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HBB.TO Global X Canadian Select Universe Bond Index Corporate Class ETF | 1.48% | 1.84% | 3.96% | 5.76% | -11.94% | -2.35% | 8.33% | 5.81% | 1.19% | 1.98% |
VAB.TO Vanguard Canadian Aggregate Bond Index ETF | 1.62% | 2.28% | 3.98% | 6.90% | -11.86% | -2.88% | 8.26% | 6.77% | 1.13% | 2.30% |
Correlation
The correlation between HBB.TO and VAB.TO is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since May 9, 2014 | 0.80 |
The correlation between HBB.TO and VAB.TO shifts across timeframes, from 0.80 (all time) to 0.95 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HBB.TO vs. VAB.TO — Risk / Return Rank
HBB.TO
VAB.TO
HBB.TO vs. VAB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Canadian Select Universe Bond Index Corporate Class ETF (HBB.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.
| HBB.TO | VAB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.12 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.97 | 1.10 | -0.13 |
| Martin ratioReturn relative to average drawdown | 2.20 | 2.61 | -0.42 |
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
| HBB.TO | VAB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.61 | 0.72 | -0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 0.10 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.18 | 0.23 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 0.39 | -0.09 |
Drawdowns
HBB.TO vs. VAB.TO - Drawdown Comparison
The maximum HBB.TO drawdown since its inception was -18.23%, roughly equal to the maximum VAB.TO drawdown of -18.39%. Use the drawdown chart below to compare losses from any high point for HBB.TO and VAB.TO.
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Drawdown Indicators
| HBB.TO | VAB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.23% | -18.39% | +0.16% |
Max Drawdown (1Y)Largest decline over 1 year | -2.78% | -2.83% | +0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -5.56% | -5.31% | -0.25% |
Max Drawdown (5Y)Largest decline over 5 years | -16.19% | -15.82% | -0.37% |
Max Drawdown (10Y)Largest decline over 10 years | -18.23% | -18.39% | +0.16% |
Current DrawdownCurrent decline from peak | -2.97% | -1.92% | -1.05% |
Average DrawdownAverage peak-to-trough decline | -4.58% | -4.11% | -0.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 1.20% | +0.03% |
Volatility
HBB.TO vs. VAB.TO - Volatility Comparison
Global X Canadian Select Universe Bond Index Corporate Class ETF (HBB.TO) and Vanguard Canadian Aggregate Bond Index ETF (VAB.TO) have volatilities of 1.58% and 1.59%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HBB.TO | VAB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.58% | 1.59% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 3.43% | 3.45% | -0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.44% | 4.38% | +0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.54% | 6.58% | -0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.09% | 6.48% | +0.61% |
HBB.TO vs. VAB.TO - Expense Ratio Comparison
Both HBB.TO and VAB.TO have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
HBB.TO vs. VAB.TO - Dividend Comparison
HBB.TO has not paid dividends to shareholders, while VAB.TO's dividend yield for the trailing twelve months is around 3.32%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HBB.TO Global X Canadian Select Universe Bond Index Corporate Class ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VAB.TO Vanguard Canadian Aggregate Bond Index ETF | 3.32% | 3.33% | 3.19% | 2.95% | 2.87% | 2.48% | 2.50% | 2.65% | 2.79% | 2.77% | 2.75% | 2.78% |
Frequently Asked Questions
With a correlation of 0.94, HBB.TO and VAB.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
Both ETFs have the same 0.09% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
HBB.TO and VAB.TO have the same expense ratio: 0.09% per year.
HBB.TO is categorized as Total Bond Market, while VAB.TO is Canadian Government Bonds. HBB.TO tracks Solactive Canadian Select Universe Bond, while VAB.TO tracks Bloomberg Global Aggregate Canadian Float Adjusted Bond Index. They also come from different issuers: Global X and Vanguard.
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