TULB.TO vs. FGO.TO
TULB.TO (TD U.S. Long Term Treasury Bond ETF) and FGO.TO (CI Enhanced Government Bond ETF) are both Government Bonds funds. Both are actively managed. Over the past 5 years, TULB.TO returned -4.35%/yr vs 0.00%/yr for FGO.TO. At a 0.48 correlation, their price movements are largely independent.
Performance
TULB.TO vs. FGO.TO - Performance Comparison
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Returns By Period
In the year-to-date period, TULB.TO achieves a 1.32% return, which is significantly higher than FGO.TO's 0.81% return.
TULB.TO
- 1D
- 0.01%
- 1M
- -0.69%
- 6M
- -1.01%
- YTD
- 1.32%
- 1Y
- 6.29%
- 3Y*
- 0.37%
- 5Y*
- -4.35%
- 10Y*
- —
FGO.TO
- 1D
- 0.20%
- 1M
- -0.52%
- 6M
- 0.11%
- YTD
- 0.81%
- 1Y
- 3.28%
- 3Y*
- 2.73%
- 5Y*
- 0.00%
- 10Y*
- —
TULB.TO vs. FGO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
TULB.TO TD U.S. Long Term Treasury Bond ETF | 1.32% | 0.01% | -0.66% | 0.23% | -20.71% | -5.23% | 10.77% | -2.51% |
FGO.TO CI Enhanced Government Bond ETF | 0.81% | 3.02% | 1.37% | 4.36% | -8.78% | -1.53% | 6.75% | -0.96% |
Correlation
The correlation between TULB.TO and FGO.TO is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Nov 28, 2019 | 0.48 |
The correlation between TULB.TO and FGO.TO shifts across timeframes, from 0.48 (all time) to 0.63 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
TULB.TO vs. FGO.TO — Risk / Return Rank
TULB.TO
FGO.TO
TULB.TO vs. FGO.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TD U.S. Long Term Treasury Bond ETF (TULB.TO) and CI Enhanced Government Bond ETF (FGO.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.
| TULB.TO | FGO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.14 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.74 | 1.17 | -0.43 |
| Martin ratioReturn relative to average drawdown | 1.58 | 2.62 | -1.05 |
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Drawdowns
TULB.TO vs. FGO.TO - Drawdown Comparison
The maximum TULB.TO drawdown since its inception was -44.56%, which is greater than FGO.TO's maximum drawdown of -14.83%. Use the drawdown chart below to compare losses from any high point for TULB.TO and FGO.TO.
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Drawdown Indicators
| TULB.TO | FGO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.56% | -14.83% | -29.73% |
Max Drawdown (1Y)Largest decline over 1 year | -8.51% | -2.82% | -5.69% |
Max Drawdown (3Y)Largest decline over 3 years | -13.17% | -6.12% | -7.05% |
Max Drawdown (5Y)Largest decline over 5 years | -34.06% | -13.26% | -20.80% |
Current DrawdownCurrent decline from peak | -35.90% | -2.33% | -33.57% |
Average DrawdownAverage peak-to-trough decline | -30.44% | -4.65% | -25.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.00% | 1.25% | +2.75% |
Volatility
TULB.TO vs. FGO.TO - Volatility Comparison
TD U.S. Long Term Treasury Bond ETF (TULB.TO) has a higher volatility of 2.78% compared to CI Enhanced Government Bond ETF (FGO.TO) at 1.20%. This indicates that TULB.TO's price experiences larger fluctuations and is considered to be riskier than FGO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TULB.TO | FGO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.78% | 1.20% | +1.58% |
Volatility (6M)Calculated over the trailing 6-month period | 7.00% | 3.17% | +3.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.35% | 4.36% | +4.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.01% | 6.13% | +9.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.77% | 5.80% | +10.97% |
Dividends
TULB.TO vs. FGO.TO - Dividend Comparison
TULB.TO's dividend yield for the trailing twelve months is around 4.61%, more than FGO.TO's 2.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FGO.TO CI Enhanced Government Bond ETF | 2.44% | 2.80% | 3.10% | 2.33% | 1.46% | 0.62% | 0.68% | 0.92% | 0.15% |
TULB.TO TD U.S. Long Term Treasury Bond ETF | 4.61% | 4.54% | 1.99% | 3.37% | 1.04% | 0.21% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TULB.TO and FGO.TO have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: TD and CI.
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