RBNK.TO vs. VCE.TO

Last updated Jun 4, 2026

RBNK.TO (RBC Canadian Bank Yield Index ETF) and VCE.TO (Vanguard FTSE Canada Index ETF) are both exchange-traded funds - RBNK.TO is a Financials Equities fund tracking the Solactive Canada Bank Yield Index, while VCE.TO is a Canada Equities fund tracking the FTSE Canada Domestic Index. Both are passively managed. Over the past 5 years, RBNK.TO returned 17.57%/yr vs 14.43%/yr for VCE.TO. A 0.74 correlation means they provide meaningful diversification when combined. RBNK.TO charges 0.32%/yr vs 0.06%/yr for VCE.TO.

Performance

RBNK.TO vs. VCE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in RBC Canadian Bank Yield Index ETF (RBNK.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, RBNK.TO achieves a 19.94% return, which is significantly higher than VCE.TO's 10.03% return.

RBNK.TO

• 1D: -0.56%
• 1M: 6.40%
• YTD: 19.94%
• 6M: 24.92%
• 1Y: 60.94%
• 3Y*: 32.53%
• 5Y*: 17.57%
• 10Y*: —

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)

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RBNK.TO RBC Canadian Bank Yield Index ETF	19.94%	44.94%	22.08%	11.01%	-13.14%	40.30%	3.34%	16.82%	-9.14%	3.71%
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%	2.77%

Correlation

The correlation between RBNK.TO and VCE.TO is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since Oct 23, 2017	0.74

The correlation between RBNK.TO and VCE.TO has been stable across timeframes, ranging from 0.68 to 0.77 - a consistent structural relationship.

RBNK.TO vs. VCE.TO - Sectors Allocation Comparison

Sectors	RBNK.TO	VCE.TO
Financial Services	100.0%	37.4%
Basic Materials	-	15.4%
Communication Services	-	1.5%
Consumer Cyclical	-	3.4%
Consumer Defensive	-	2.9%
Energy	-	18.4%
Healthcare	-	-
Industrials	-	10.6%
Real Estate	-	0.2%
Technology	-	8.2%
Utilities	-	1.9%

Return for Risk

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

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

RBNK.TO

RBNK.TO Risk / Return Rank: 96
RBNK.TO Sharpe Ratio Rank: 97
RBNK.TO Sortino Ratio Rank: 97
RBNK.TO Omega Ratio Rank: 96
RBNK.TO Calmar Ratio Rank: 93
RBNK.TO Martin Ratio Rank: 94

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.

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

This table presents a comparison of risk-adjusted performance metrics for RBC Canadian Bank Yield Index ETF (RBNK.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.

	RBNK.TO	VCE.TO	Difference
Sharpe ratio: Return per unit of total volatility	4.59	2.37	+2.23
Sortino ratio: Return per unit of downside risk	6.14	3.16	+2.99
Omega ratio: Gain probability vs. loss probability	1.85	1.42	+0.43
Calmar ratio: Return relative to maximum drawdown	6.74	3.60	+3.14
Martin ratio: Return relative to average drawdown	29.06	16.77	+12.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current RBNK.TO Sharpe Ratio is 4.59, which is higher than the VCE.TO Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of RBNK.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

	RBNK.TO	VCE.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.59	2.37	+2.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.27	1.14	+0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.84	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	0.77	+0.04

Drawdowns

RBNK.TO vs. VCE.TO - Drawdown Comparison

The maximum RBNK.TO drawdown since its inception was -39.08%, 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 RBNK.TO and VCE.TO.

Drawdown Indicators

	RBNK.TO	VCE.TO	Difference
Max Drawdown Largest peak-to-trough decline	-39.08%	-35.92%	-3.16%
Max Drawdown (1Y) Largest decline over 1 year	-9.08%	-8.09%	-0.99%
Max Drawdown (3Y) Largest decline over 3 years	-14.87%	-12.16%	-2.71%
Max Drawdown (5Y) Largest decline over 5 years	-28.64%	-15.90%	-12.74%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.92%	—
Current Drawdown Current decline from peak	-1.37%	-0.96%	-0.41%
Average Drawdown Average peak-to-trough decline	-7.55%	-3.73%	-3.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.10%	1.73%	+0.37%

Volatility

RBNK.TO vs. VCE.TO - Volatility Comparison

RBC Canadian Bank Yield Index ETF (RBNK.TO) has a higher volatility of 5.06% compared to Vanguard FTSE Canada Index ETF (VCE.TO) at 3.47%. This indicates that RBNK.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

	RBNK.TO	VCE.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.06%	3.47%	+1.59%
Volatility (6M) Calculated over the trailing 6-month period	11.66%	10.00%	+1.66%
Volatility (1Y) Calculated over the trailing 1-year period	13.33%	12.30%	+1.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.90%	12.78%	+1.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.21%	14.99%	+3.22%

RBNK.TO vs. VCE.TO - Expense Ratio Comparison

RBNK.TO has a 0.32% expense ratio, which is higher than VCE.TO's 0.06% expense ratio.

Dividends

RBNK.TO vs. VCE.TO - Dividend Comparison

RBNK.TO's dividend yield for the trailing twelve months is around 2.97%, more than VCE.TO's 2.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RBNK.TO RBC Canadian Bank Yield Index ETF	2.97%	3.39%	4.50%	4.77%	4.49%	3.07%	4.18%	3.86%	4.06%	0.56%	0.00%	0.00%
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 RBNK.TO and VCE.TO in my portfolio?

RBNK.TO and VCE.TO have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RBNK.TO or VCE.TO?

On fees, VCE.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RBNK.TO or VCE.TO?

VCE.TO is cheaper with a 0.06% expense ratio, compared with 0.32% for RBNK.TO.

What is the main difference between RBNK.TO and VCE.TO?

RBNK.TO is categorized as Financials Equities, while VCE.TO is Canada Equities. RBNK.TO tracks Solactive Canada Bank Yield Index, while VCE.TO tracks FTSE Canada Domestic Index. They also come from different issuers: RBC and Vanguard. Their fees differ too: 0.32% for RBNK.TO and 0.06% for VCE.TO.