IGB.TO vs. BND.TO

Last updated Jun 4, 2026

IGB.TO (Purpose Global Bond Class) and BND.TO (Purpose Global Bond Fund) are both exchange-traded funds - IGB.TO is a fund fund, while BND.TO is a fund fund. Over the past 5 years, IGB.TO returned 2.79%/yr vs 3.27%/yr for BND.TO. At a 0.40 correlation, their price movements are largely independent.

Performance

IGB.TO vs. BND.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Purpose Global Bond Class (IGB.TO) and Purpose Global Bond Fund (BND.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IGB.TO achieves a 0.76% return, which is significantly lower than BND.TO's 0.89% return.

IGB.TO

• 1D: -0.03%
• 1M: 0.93%
• YTD: 0.76%
• 6M: 0.71%
• 1Y: 4.26%
• 3Y*: 6.59%
• 5Y*: 2.79%
• 10Y*: —

BND.TO

• 1D: -0.28%
• 1M: 0.77%
• YTD: 0.89%
• 6M: 1.18%
• 1Y: 6.14%
• 3Y*: 7.22%
• 5Y*: 3.27%
• 10Y*: 3.00%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IGB.TO vs. BND.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
IGB.TO Purpose Global Bond Class	0.76%	6.05%	7.47%	7.40%	-7.68%	2.50%	6.12%	3.21%	-1.68%
BND.TO Purpose Global Bond Fund	0.89%	7.23%	7.49%	8.45%	-7.80%	2.85%	6.14%	4.16%	-0.40%

Correlation

The correlation between IGB.TO and BND.TO is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (All Time) Calculated using the full available price history since Jul 12, 2018	0.40

Over the past year, IGB.TO and BND.TO have become more correlated (0.67) than their long-term average of 0.40, meaning their price movements have been converging.

IGB.TO vs. BND.TO - Sectors Allocation Comparison

Sectors	IGB.TO	BND.TO
Communication Services	100.0%	100.0%
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

IGB.TO vs. BND.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IGB.TO

IGB.TO Risk / Return Rank: 40
IGB.TO Sharpe Ratio Rank: 42
IGB.TO Sortino Ratio Rank: 48
IGB.TO Omega Ratio Rank: 46
IGB.TO Calmar Ratio Rank: 31
IGB.TO Martin Ratio Rank: 35

BND.TO

BND.TO Risk / Return Rank: 55
BND.TO Sharpe Ratio Rank: 58
BND.TO Sortino Ratio Rank: 61
BND.TO Omega Ratio Rank: 61
BND.TO Calmar Ratio Rank: 43
BND.TO Martin Ratio Rank: 52

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.

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

This table presents a comparison of risk-adjusted performance metrics for Purpose Global Bond Class (IGB.TO) 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.

	IGB.TO	BND.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.49	2.02	-0.53
Sortino ratio: Return per unit of downside risk	2.33	2.93	-0.60
Omega ratio: Gain probability vs. loss probability	1.29	1.38	-0.09
Calmar ratio: Return relative to maximum drawdown	1.50	2.17	-0.67
Martin ratio: Return relative to average drawdown	5.33	8.87	-3.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IGB.TO vs. BND.TO - Sharpe Ratio Comparison

The current IGB.TO Sharpe Ratio is 1.49, which is comparable to the BND.TO Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of IGB.TO 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.

Sharpe Ratios by Period

	IGB.TO	BND.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.49	2.02	-0.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.64	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.61	-0.10

Drawdowns

IGB.TO vs. BND.TO - Drawdown Comparison

The maximum IGB.TO drawdown since its inception was -16.40%, roughly equal to the maximum BND.TO drawdown of -16.55%. Use the drawdown chart below to compare losses from any high point for IGB.TO and BND.TO.

Drawdown Indicators

	IGB.TO	BND.TO	Difference
Max Drawdown Largest peak-to-trough decline	-16.40%	-16.55%	+0.15%
Max Drawdown (1Y) Largest decline over 1 year	-2.86%	-2.84%	-0.02%
Max Drawdown (3Y) Largest decline over 3 years	-4.40%	-4.46%	+0.06%
Max Drawdown (5Y) Largest decline over 5 years	-12.34%	-12.23%	-0.11%
Max Drawdown (10Y) Largest decline over 10 years	—	-16.55%	—
Current Drawdown Current decline from peak	-0.24%	-0.45%	+0.21%
Average Drawdown Average peak-to-trough decline	-2.41%	-2.07%	-0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.80%	0.69%	+0.11%

Volatility

IGB.TO vs. BND.TO - Volatility Comparison

The current volatility for Purpose Global Bond Class (IGB.TO) is 1.09%, while Purpose Global Bond Fund (BND.TO) has a volatility of 1.35%. This indicates that IGB.TO experiences smaller price fluctuations and is considered to be less risky than BND.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGB.TO	BND.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.09%	1.35%	-0.26%
Volatility (6M) Calculated over the trailing 6-month period	2.27%	2.52%	-0.25%
Volatility (1Y) Calculated over the trailing 1-year period	2.89%	3.06%	-0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.78%	5.10%	-0.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.79%	5.15%	+0.64%

Dividends

IGB.TO vs. BND.TO - Dividend Comparison

IGB.TO's dividend yield for the trailing twelve months is around 4.86%, less than BND.TO's 5.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BND.TO Purpose Global Bond Fund	5.86%	5.70%	5.24%	5.20%	4.14%	3.89%	3.48%	3.11%	3.96%	3.47%	3.26%	0.53%
IGB.TO Purpose Global Bond Class	4.86%	5.18%	5.23%	4.58%	4.14%	3.67%	3.48%	2.86%	1.58%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IGB.TO and BND.TO in my portfolio?

IGB.TO and BND.TO have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.