VAB.TO vs. HBB.TO

Last updated Jun 25, 2026

VAB.TO (Vanguard Canadian Aggregate Bond Index ETF) and HBB.TO (Global X Canadian Select Universe Bond Index Corporate Class ETF) are both Total Bond Market funds - VAB.TO tracks the Bloomberg Global Aggregate Canadian Float Adjusted Bond Index while HBB.TO tracks the Solactive Canadian Select Universe Bond. Both are passively managed. Over the past 10 years, VAB.TO returned 1.57%/yr vs 1.36%/yr for HBB.TO. Their correlation of 0.80 suggests significant overlap in exposure. Both charge a 0.09% expense ratio.

Performance

VAB.TO vs. HBB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard Canadian Aggregate Bond Index ETF (VAB.TO) and Global X Canadian Select Universe Bond Index Corporate Class ETF (HBB.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VAB.TO achieves a 2.17% return, which is significantly higher than HBB.TO's 2.02% return. Over the past 10 years, VAB.TO has outperformed HBB.TO with an annualized return of 1.57%, while HBB.TO has yielded a comparatively lower 1.36% annualized return.

VAB.TO

• 1D: 0.43%
• 1M: 1.01%
• YTD: 2.17%
• 6M: 1.94%
• 1Y: 3.50%
• 3Y*: 4.51%
• 5Y*: 0.71%
• 10Y*: 1.57%

HBB.TO

• 1D: 0.39%
• 1M: 1.01%
• YTD: 2.02%
• 6M: 1.80%
• 1Y: 3.10%
• 3Y*: 4.11%
• 5Y*: 0.37%
• 10Y*: 1.36%

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

VAB.TO vs. HBB.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VAB.TO Vanguard Canadian Aggregate Bond Index ETF	2.17%	2.28%	3.98%	6.90%	-11.86%	-2.88%	8.27%	6.78%	1.14%	2.31%
HBB.TO Global X Canadian Select Universe Bond Index Corporate Class ETF	2.02%	1.84%	3.96%	5.76%	-11.94%	-2.35%	8.33%	5.81%	1.19%	1.98%

Correlation

The correlation between VAB.TO and HBB.TO is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since May 8, 2014	0.80

The correlation between VAB.TO and HBB.TO shifts across timeframes, from 0.80 (all time) to 0.95 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

VAB.TO vs. HBB.TO — Risk / Return Rank

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

VAB.TO

VAB.TO Risk / Return Rank: 24
VAB.TO Sharpe Ratio Rank: 24
VAB.TO Sortino Ratio Rank: 21
VAB.TO Omega Ratio Rank: 21
VAB.TO Calmar Ratio Rank: 27
VAB.TO Martin Ratio Rank: 24

HBB.TO

HBB.TO Risk / Return Rank: 21
HBB.TO Sharpe Ratio Rank: 21
HBB.TO Sortino Ratio Rank: 19
HBB.TO Omega Ratio Rank: 19
HBB.TO Calmar Ratio Rank: 25
HBB.TO Martin Ratio Rank: 22

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.

VAB.TO vs. HBB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Canadian Aggregate Bond Index ETF (VAB.TO) and Global X Canadian Select Universe Bond Index Corporate Class ETF (HBB.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.

	VAB.TO	HBB.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.80	0.69	+0.10
Sortino ratio: Return per unit of downside risk	1.10	0.96	+0.14
Omega ratio: Gain probability vs. loss probability	1.14	1.12	+0.02
Calmar ratio: Return relative to maximum drawdown	1.24	1.12	+0.12
Martin ratio: Return relative to average drawdown	2.93	2.52	+0.41

VAB.TO vs. HBB.TO - Sharpe Ratio Comparison

The current VAB.TO Sharpe Ratio is 0.80, which is comparable to the HBB.TO Sharpe Ratio of 0.69. The chart below compares the historical Sharpe Ratios of VAB.TO and HBB.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.

Drawdowns

VAB.TO vs. HBB.TO - Drawdown Comparison

The maximum VAB.TO drawdown since its inception was -18.39%, roughly equal to the maximum HBB.TO drawdown of -18.23%. Use the drawdown chart below to compare losses from any high point for VAB.TO and HBB.TO.

Drawdown Indicators

	VAB.TO	HBB.TO	Difference
Max Drawdown Largest peak-to-trough decline	-18.39%	-18.23%	-0.16%
Max Drawdown (1Y) Largest decline over 1 year	-2.83%	-2.78%	-0.05%
Max Drawdown (3Y) Largest decline over 3 years	-5.31%	-5.56%	+0.25%
Max Drawdown (5Y) Largest decline over 5 years	-15.82%	-16.19%	+0.37%
Max Drawdown (10Y) Largest decline over 10 years	-18.39%	-18.23%	-0.16%
Current Drawdown Current decline from peak	-1.38%	-2.45%	+1.07%
Average Drawdown Average peak-to-trough decline	-4.10%	-4.57%	+0.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.20%	1.23%	-0.03%

Volatility

VAB.TO vs. HBB.TO - Volatility Comparison

Vanguard Canadian Aggregate Bond Index ETF (VAB.TO) and Global X Canadian Select Universe Bond Index Corporate Class ETF (HBB.TO) have volatilities of 1.06% and 1.08%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VAB.TO	HBB.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.06%	1.08%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	3.36%	3.38%	-0.02%
Volatility (1Y) Calculated over the trailing 1-year period	4.41%	4.48%	-0.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.58%	6.55%	+0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.47%	7.09%	-0.62%

VAB.TO vs. HBB.TO - Expense Ratio Comparison

Both VAB.TO and HBB.TO have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

VAB.TO vs. HBB.TO - Dividend Comparison

VAB.TO's dividend yield for the trailing twelve months is around 3.30%, while HBB.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HBB.TO Global X Canadian Select Universe Bond Index Corporate Class ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VAB.TO Vanguard Canadian Aggregate Bond Index ETF	3.30%	3.33%	3.19%	2.95%	2.87%	2.48%	2.51%	2.65%	2.80%	2.77%	2.75%	2.79%

Frequently Asked Questions

Can I hold both VAB.TO and HBB.TO in my portfolio?

With a correlation of 0.94, VAB.TO and HBB.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, VAB.TO or HBB.TO?

Both ETFs have the same 0.09% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VAB.TO or HBB.TO?

VAB.TO and HBB.TO have the same expense ratio: 0.09% per year.

What is the main difference between VAB.TO and HBB.TO?

VAB.TO tracks Bloomberg Global Aggregate Canadian Float Adjusted Bond Index, while HBB.TO tracks Solactive Canadian Select Universe Bond. They also come from different issuers: Vanguard and Global X.