IGB.TO vs. VBG.NEO
IGB.TO (Purpose Global Bond Class) and VBG.NEO (Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged)) are both Global Bonds funds. IGB.TO is actively managed, while VBG.NEO is passively managed. Over the past 5 years, IGB.TO returned 2.38%/yr vs -1.73%/yr for VBG.NEO. At a 0.15 correlation, their price movements are largely independent. IGB.TO charges 0.55%/yr vs 0.39%/yr for VBG.NEO.
Performance
IGB.TO vs. VBG.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, IGB.TO achieves a -0.32% return, which is significantly higher than VBG.NEO's -0.90% return.
IGB.TO
- 1D
- 0.00%
- 1M
- -1.48%
- 6M
- -0.65%
- YTD
- -0.32%
- 1Y
- 1.77%
- 3Y*
- 5.79%
- 5Y*
- 2.38%
- 10Y*
- —
- ALL TIME*
- 2.74%
VBG.NEO
- 1D
- 0.18%
- 1M
- -1.12%
- 6M
- -1.08%
- YTD
- -0.90%
- 1Y
- -0.81%
- 3Y*
- 1.55%
- 5Y*
- -1.73%
- 10Y*
- 0.08%
- ALL TIME*
- 1.02%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$95.58K | CA$158.59K | CA$295.38K | |
| CA$386.77K | CA$1.00M | CA$1.26M |
IGB.TO vs. VBG.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IGB.TO Purpose Global Bond Class | -0.32% | 6.05% | 7.47% | 7.40% | -7.68% | 2.50% | 6.12% | 3.21% | -1.63% |
VBG.NEO Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) | -0.90% | 0.14% | 1.68% | 6.97% | -13.38% | -3.03% | 3.87% | 6.33% | 0.88% |
Correlation
The correlation between IGB.TO and VBG.NEO is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2018 | 0.15 |
The correlation between IGB.TO and VBG.NEO shifts across timeframes, from 0.15 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IGB.TO vs. VBG.NEO — Risk / Return Rank
IGB.TO
VBG.NEO
IGB.TO vs. VBG.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Global Bond Class (IGB.TO) and Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) (VBG.NEO). 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.
| IGB.TO | VBG.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.83 | ||
| Sortino ratioReturn per unit of downside risk | +1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 0.97 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.62 | -0.26 | +0.88 |
| Martin ratioReturn relative to average drawdown | 2.16 | -0.54 | +2.71 |
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Drawdowns
IGB.TO vs. VBG.NEO - Drawdown Comparison
The maximum IGB.TO drawdown since its inception was -16.40%, smaller than the maximum VBG.NEO drawdown of -17.31%. Use the drawdown chart below to compare losses from any high point for IGB.TO and VBG.NEO.
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Drawdown Indicators
| IGB.TO | VBG.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.40% | -17.31% | +0.91% |
Max Drawdown (1Y)Largest decline over 1 year | -2.86% | -3.17% | +0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -4.28% | -3.17% | -1.11% |
Max Drawdown (5Y)Largest decline over 5 years | -12.34% | -16.66% | +4.32% |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.31% | — |
Current DrawdownCurrent decline from peak | -1.60% | -9.52% | +7.92% |
Average DrawdownAverage peak-to-trough decline | -2.37% | -4.88% | +2.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 1.49% | -0.67% |
Volatility
IGB.TO vs. VBG.NEO - Volatility Comparison
The current volatility for Purpose Global Bond Class (IGB.TO) is 0.73%, while Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) (VBG.NEO) has a volatility of 2.21%. This indicates that IGB.TO experiences smaller price fluctuations and is considered to be less risky than VBG.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGB.TO | VBG.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.73% | 2.21% | -1.48% |
Volatility (6M)Calculated over the trailing 6-month period | 2.37% | 3.78% | -1.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.81% | 4.20% | -1.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.79% | 5.29% | -0.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.75% | 4.65% | +1.10% |
IGB.TO vs. VBG.NEO - Expense Ratio Comparison
IGB.TO has a 0.55% expense ratio, which is higher than VBG.NEO's 0.39% expense ratio.
Dividends
IGB.TO vs. VBG.NEO - Dividend Comparison
IGB.TO's dividend yield for the trailing twelve months is around 4.86%, more than VBG.NEO's 3.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VBG.NEO Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) | 3.67% | 3.46% | 3.25% | 3.54% | 1.14% | 2.91% | 0.64% | 2.54% | 2.34% | 1.74% | 1.41% | 1.26% |
Frequently Asked Questions
IGB.TO and VBG.NEO have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VBG.NEO is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VBG.NEO is cheaper with a 0.39% expense ratio, compared with 0.55% for IGB.TO.
They also come from different issuers: Purpose Investments Inc. and Vanguard. Their fees differ too: 0.55% for IGB.TO and 0.39% for VBG.NEO.
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