VAB.TO vs. BND
VAB.TO (Vanguard Canadian Aggregate Bond Index ETF) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - VAB.TO is a Canadian Government Bonds fund tracking the Bloomberg Global Aggregate Canadian Float Adjusted Bond Index, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Both are passively managed. Over the past 10 years, VAB.TO returned 1.51%/yr vs 2.31%/yr for BND. At a 0.49 correlation, their price movements are largely independent. VAB.TO charges 0.09%/yr vs 0.03%/yr for BND.
Performance
VAB.TO vs. BND - Performance Comparison
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Different Trading Currencies
VAB.TO is traded in CAD, while BND is traded in USD. To make them comparable, the BND values have been converted to CAD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with VAB.TO having a 1.62% return and BND slightly lower at 1.55%. Over the past 10 years, VAB.TO has underperformed BND with an annualized return of 1.51%, while BND has yielded a comparatively higher 2.31% annualized return.
VAB.TO
- 1D
- -0.07%
- 1M
- 1.70%
- YTD
- 1.62%
- 6M
- 0.78%
- 1Y
- 3.12%
- 3Y*
- 4.12%
- 5Y*
- 0.66%
- 10Y*
- 1.51%
BND
- 1D
- 0.22%
- 1M
- 2.27%
- YTD
- 1.55%
- 6M
- -0.27%
- 1Y
- 6.46%
- 3Y*
- 5.17%
- 5Y*
- 2.95%
- 10Y*
- 2.31%
VAB.TO vs. BND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VAB.TO Vanguard Canadian Aggregate Bond Index ETF | 1.62% | 2.28% | 3.98% | 6.90% | -11.86% | -2.88% | 8.26% | 6.77% | 1.13% | 2.30% |
BND Vanguard Total Bond Market ETF | 1.55% | 2.17% | 10.09% | 3.33% | -6.92% | -2.75% | 5.89% | 3.49% | 8.36% | -3.03% |
Correlation
The correlation between VAB.TO and BND is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Dec 7, 2011 | 0.49 |
The correlation between VAB.TO and BND shifts across timeframes, from 0.48 (1 year) to 0.61 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VAB.TO vs. BND — Risk / Return Rank
VAB.TO
BND
VAB.TO vs. BND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Canadian Aggregate Bond Index ETF (VAB.TO) and Vanguard Total Bond Market ETF (BND). 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.
| VAB.TO | BND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.21 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.10 | 1.47 | -0.37 |
| Martin ratioReturn relative to average drawdown | 2.61 | 3.36 | -0.74 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VAB.TO | BND | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.72 | 1.19 | -0.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.10 | 0.38 | -0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.23 | 0.29 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.43 | -0.04 |
Drawdowns
VAB.TO vs. BND - Drawdown Comparison
The maximum VAB.TO drawdown since its inception was -18.39%, smaller than the maximum BND drawdown of -19.96%. Use the drawdown chart below to compare losses from any high point for VAB.TO and BND.
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Drawdown Indicators
| VAB.TO | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.39% | -19.96% | +1.57% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -4.42% | +1.59% |
Max Drawdown (3Y)Largest decline over 3 years | -5.31% | -6.73% | +1.42% |
Max Drawdown (5Y)Largest decline over 5 years | -15.82% | -12.90% | -2.92% |
Max Drawdown (10Y)Largest decline over 10 years | -18.39% | -19.96% | +1.57% |
Current DrawdownCurrent decline from peak | -1.92% | -1.65% | -0.27% |
Average DrawdownAverage peak-to-trough decline | -4.11% | -6.46% | +2.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.20% | 1.93% | -0.73% |
Volatility
VAB.TO vs. BND - Volatility Comparison
Vanguard Canadian Aggregate Bond Index ETF (VAB.TO) has a higher volatility of 1.59% compared to Vanguard Total Bond Market ETF (BND) at 1.32%. This indicates that VAB.TO's price experiences larger fluctuations and is considered to be riskier than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VAB.TO | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.59% | 1.32% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 3.45% | 4.22% | -0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.38% | 5.44% | -1.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.58% | 7.79% | -1.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.48% | 7.97% | -1.49% |
VAB.TO vs. BND - Expense Ratio Comparison
VAB.TO has a 0.09% expense ratio, which is higher than BND's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VAB.TO vs. BND - Dividend Comparison
VAB.TO's dividend yield for the trailing twelve months is around 3.32%, less than BND's 3.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | 3.97% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
VAB.TO Vanguard Canadian Aggregate Bond Index ETF | 3.32% | 3.33% | 3.19% | 2.95% | 2.87% | 2.48% | 2.50% | 2.65% | 2.79% | 2.77% | 2.75% | 2.78% |
Frequently Asked Questions
VAB.TO and BND have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BND is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BND is cheaper with a 0.03% expense ratio, compared with 0.09% for VAB.TO.
VAB.TO is categorized as Canadian Government Bonds, while BND is Total Bond Market. VAB.TO tracks Bloomberg Global Aggregate Canadian Float Adjusted Bond Index, while BND tracks Bloomberg U.S. Aggregate Float Adjusted Index. Their fees differ too: 0.09% for VAB.TO and 0.03% for BND.
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