IGM.TO vs. VCE.TO

Last updated Jun 4, 2026

IGM.TO (IGM Financial Inc.) is a stock, while VCE.TO (Vanguard FTSE Canada Index ETF) is Canada Equities fund tracking the FTSE Canada Domestic Index. Over the past 10 years, IGM.TO returned 14.17%/yr vs 12.58%/yr for VCE.TO. A 0.56 correlation means they provide meaningful diversification when combined.

Performance

IGM.TO vs. VCE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in IGM Financial Inc. (IGM.TO) and Vanguard FTSE Canada Index ETF (VCE.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IGM.TO achieves a 29.00% return, which is significantly higher than VCE.TO's 10.03% return. Over the past 10 years, IGM.TO has outperformed VCE.TO with an annualized return of 14.17%, while VCE.TO has yielded a comparatively lower 12.58% annualized return.

IGM.TO

• 1D: -1.51%
• 1M: 4.44%
• YTD: 29.00%
• 6M: 40.81%
• 1Y: 85.74%
• 3Y*: 32.60%
• 5Y*: 18.03%
• 10Y*: 14.17%

VCE.TO

• 1D: -0.96%
• 1M: 3.36%
• YTD: 10.03%
• 6M: 10.19%
• 1Y: 28.98%
• 3Y*: 22.22%
• 5Y*: 14.43%
• 10Y*: 12.58%

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

IGM.TO vs. VCE.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IGM.TO IGM Financial Inc.	29.00%	40.98%	38.87%	-1.67%	-12.00%	39.17%	-0.01%	27.74%	-25.09%	21.99%
VCE.TO Vanguard FTSE Canada Index ETF	10.03%	26.39%	21.43%	12.26%	-5.20%	28.59%	4.09%	22.99%	-7.86%	8.79%

Correlation

The correlation between IGM.TO and VCE.TO is 0.53, 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	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Dec 7, 2011	0.56

The correlation between IGM.TO and VCE.TO has been stable across timeframes, ranging from 0.53 to 0.63 - a consistent structural relationship.

Return for Risk

IGM.TO vs. VCE.TO — Risk / Return Rank

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

IGM.TO

IGM.TO Risk / Return Rank: 97
IGM.TO Sharpe Ratio Rank: 97
IGM.TO Sortino Ratio Rank: 97
IGM.TO Omega Ratio Rank: 97
IGM.TO Calmar Ratio Rank: 96
IGM.TO Martin Ratio Rank: 98

VCE.TO

VCE.TO Risk / Return Rank: 72
VCE.TO Sharpe Ratio Rank: 70
VCE.TO Sortino Ratio Rank: 67
VCE.TO Omega Ratio Rank: 69
VCE.TO Calmar Ratio Rank: 71
VCE.TO Martin Ratio Rank: 82

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.

IGM.TO vs. VCE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IGM Financial Inc. (IGM.TO) and Vanguard FTSE Canada Index ETF (VCE.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.

	IGM.TO	VCE.TO	Difference
Sharpe ratio: Return per unit of total volatility	3.85	2.37	+1.49
Sortino ratio: Return per unit of downside risk	4.89	3.16	+1.74
Omega ratio: Gain probability vs. loss probability	1.68	1.42	+0.26
Calmar ratio: Return relative to maximum drawdown	8.02	3.60	+4.42
Martin ratio: Return relative to average drawdown	34.05	16.77	+17.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IGM.TO vs. VCE.TO - Sharpe Ratio Comparison

The current IGM.TO Sharpe Ratio is 3.85, which is higher than the VCE.TO Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of IGM.TO and VCE.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

	IGM.TO	VCE.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.85	2.37	+1.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.86	1.14	-0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.84	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.77	-0.41

Drawdowns

IGM.TO vs. VCE.TO - Drawdown Comparison

The maximum IGM.TO drawdown since its inception was -68.35%, which is greater than VCE.TO's maximum drawdown of -35.92%. Use the drawdown chart below to compare losses from any high point for IGM.TO and VCE.TO.

Drawdown Indicators

	IGM.TO	VCE.TO	Difference
Max Drawdown Largest peak-to-trough decline	-68.35%	-35.92%	-32.43%
Max Drawdown (1Y) Largest decline over 1 year	-10.75%	-8.09%	-2.66%
Max Drawdown (3Y) Largest decline over 3 years	-25.61%	-12.16%	-13.45%
Max Drawdown (5Y) Largest decline over 5 years	-32.58%	-15.90%	-16.68%
Max Drawdown (10Y) Largest decline over 10 years	-47.65%	-35.92%	-11.73%
Current Drawdown Current decline from peak	-1.51%	-0.96%	-0.55%
Average Drawdown Average peak-to-trough decline	-19.53%	-3.73%	-15.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	1.73%	+0.80%

Volatility

IGM.TO vs. VCE.TO - Volatility Comparison

IGM Financial Inc. (IGM.TO) has a higher volatility of 5.32% compared to Vanguard FTSE Canada Index ETF (VCE.TO) at 3.47%. This indicates that IGM.TO's price experiences larger fluctuations and is considered to be riskier than VCE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGM.TO	VCE.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.32%	3.47%	+1.85%
Volatility (6M) Calculated over the trailing 6-month period	18.84%	10.00%	+8.84%
Volatility (1Y) Calculated over the trailing 1-year period	22.38%	12.30%	+10.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.03%	12.78%	+8.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.45%	14.99%	+7.46%

Dividends

IGM.TO vs. VCE.TO - Dividend Comparison

IGM.TO's dividend yield for the trailing twelve months is around 2.92%, more than VCE.TO's 2.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGM.TO IGM Financial Inc.	2.92%	3.64%	4.91%	6.43%	5.96%	4.94%	6.53%	6.04%	7.26%	5.10%	5.92%	6.37%
VCE.TO Vanguard FTSE Canada Index ETF	2.17%	2.42%	2.84%	3.16%	3.21%	2.61%	2.93%	3.01%	3.21%	2.57%	2.64%	2.98%

Frequently Asked Questions

Can I hold both IGM.TO and VCE.TO in my portfolio?

IGM.TO and VCE.TO have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.