PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
IEFA vs. BND.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IEFA vs. BND.TO

Last updated Jun 16, 2026

IEFA (iShares Core MSCI EAFE ETF) and BND.TO (Purpose Global Bond Fund) are both exchange-traded funds - IEFA is a Foreign Large Cap Equities fund tracking the MSCI EAFE IMI Index (Net), while BND.TO is a Global Bonds fund. IEFA is passively managed, while BND.TO is actively managed. Over the past 10 years, IEFA returned 9.78%/yr vs 2.25%/yr for BND.TO. At a 0.11 correlation, their price movements are largely independent.

Performance

IEFA vs. BND.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core MSCI EAFE ETF (IEFA) and Purpose Global Bond Fund (BND.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

IEFA is traded in USD, while BND.TO is traded in CAD. To make them comparable, the BND.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, IEFA achieves a 10.18% return, which is significantly higher than BND.TO's -0.41% return. Over the past 10 years, IEFA has outperformed BND.TO with an annualized return of 9.78%, while BND.TO has yielded a comparatively lower 2.25% annualized return.

IEFA

1D
0.61%
1M
3.53%
YTD
10.18%
6M
11.10%
1Y
23.18%
3Y*
16.11%
5Y*
8.34%
10Y*
9.78%

BND.TO

1D
0.63%
1M
-0.23%
YTD
-0.41%
6M
0.22%
1Y
3.40%
3Y*
5.46%
5Y*
0.48%
10Y*
2.25%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IEFA vs. BND.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IEFA
iShares Core MSCI EAFE ETF		10.18%32.08%3.26%17.95%-15.24%11.63%8.18%22.64%-14.14%26.57%
BND.TO
Purpose Global Bond Fund		-0.41%12.39%-0.90%11.10%-13.29%2.67%8.72%8.63%-8.59%9.11%

Correlation

The correlation between IEFA and BND.TO is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.24

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

0.21

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

0.17

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

0.11

Correlation (All Time)
Calculated using the full available price history since Oct 28, 2015

0.11

The correlation between IEFA and BND.TO shifts across timeframes, from 0.11 (all time) to 0.24 (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.

iShares Core MSCI EAFE ETF

Purpose Global Bond Fund

Often compared with IEFA:
IEFA vs. VEAIEFA vs. VXUSIEFA vs. EFAIEFA vs. FSPSXIEFA vs. IEMGIEFA vs. XEF.TOIEFA vs. IXUS
Often compared with BND.TO:
BND.TO vs. SGOVBND.TO vs. SCHDBND.TO vs. SPYBND.TO vs. JEPIBND.TO vs. BNDBND.TO vs. SCHIBND.TO vs. FALN

Return for Risk

IEFA vs. BND.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IEFA
IEFA Risk / Return Rank: 4848
Overall Rank
IEFA Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
IEFA Sortino Ratio Rank: 4848
Sortino Ratio Rank
IEFA Omega Ratio Rank: 4747
Omega Ratio Rank
IEFA Calmar Ratio Rank: 4545
Calmar Ratio Rank
IEFA Martin Ratio Rank: 5050
Martin Ratio Rank
BND.TO
BND.TO Risk / Return Rank: 6363
Overall Rank
BND.TO Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
BND.TO Sortino Ratio Rank: 7272
Sortino Ratio Rank
BND.TO Omega Ratio Rank: 7171
Omega Ratio Rank
BND.TO Calmar Ratio Rank: 4848
Calmar Ratio Rank
BND.TO Martin Ratio Rank: 5656
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.

IEFA vs. BND.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI EAFE ETF (IEFA) and Purpose Global Bond Fund (BND.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.

IEFABND.TODifference
Sharpe ratioReturn per unit of total volatility
1.50
0.63

+0.88

Sortino ratioReturn per unit of downside risk
2.17
0.96

+1.21

Omega ratioGain probability vs. loss probability

1.27

1.11

+0.17

Calmar ratioReturn relative to maximum drawdown

2.03

0.69

+1.34

Martin ratioReturn relative to average drawdown

7.69

2.06

+5.63

IEFA vs. BND.TO - Sharpe Ratio Comparison

The current IEFA Sharpe Ratio is 1.50, which is higher than the BND.TO Sharpe Ratio of 0.63. The chart below compares the historical Sharpe Ratios of IEFA and BND.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.

Loading charts...

Drawdowns

IEFA vs. BND.TO - Drawdown Comparison

The maximum IEFA drawdown since its inception was -34.78%, which is greater than BND.TO's maximum drawdown of -26.06%. Use the drawdown chart below to compare losses from any high point for IEFA and BND.TO.

Loading charts...

Drawdown Indicators

IEFABND.TODifference

Max Drawdown

Largest peak-to-trough decline

-34.78%

-26.06%

-8.72%

Max Drawdown (1Y)

Largest decline over 1 year

-11.50%

-4.98%

-6.52%

Max Drawdown (3Y)

Largest decline over 3 years

-13.76%

-8.35%

-5.41%

Max Drawdown (5Y)

Largest decline over 5 years

-30.41%

-21.19%

-9.22%

Max Drawdown (10Y)

Largest decline over 10 years

-34.78%

-26.06%

-8.72%

Current Drawdown

Current decline from peak

0.00%

-2.19%

+2.19%

Average Drawdown

Average peak-to-trough decline

-6.68%

-6.47%

-0.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.02%

1.65%

+1.37%

Volatility

IEFA vs. BND.TO - Volatility Comparison

iShares Core MSCI EAFE ETF (IEFA) has a higher volatility of 5.52% compared to Purpose Global Bond Fund (BND.TO) at 1.76%. This indicates that IEFA's price experiences larger fluctuations and is considered to be riskier than BND.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

IEFABND.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.52%

1.76%

+3.76%

Volatility (6M)

Calculated over the trailing 6-month period

13.12%

4.21%

+8.91%

Volatility (1Y)

Calculated over the trailing 1-year period

15.51%

5.46%

+10.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.62%

8.32%

+8.30%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.31%

8.65%

+8.66%

Dividends

IEFA vs. BND.TO - Dividend Comparison

IEFA's dividend yield for the trailing twelve months is around 4.90%, less than BND.TO's 5.82% yield.

PositionTTM20252024202320222021202020192018201720162015
BND.TO
Purpose Global Bond Fund		5.82%5.70%5.24%5.20%4.14%3.67%3.48%3.11%3.96%3.47%3.26%0.53%
IEFA
iShares Core MSCI EAFE ETF		4.90%3.55%3.47%3.20%2.70%3.32%1.90%3.18%3.46%2.57%2.96%2.63%

Frequently Asked Questions

IEFA and BND.TO have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IEFA is categorized as Foreign Large Cap Equities, while BND.TO is Global Bonds.

Portfolio Optimizer

Find the right allocation for IEFA and BND.TO

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

Open Portfolio Optimizer