VBAL.TO vs. NA.TO
VBAL.TO (Vanguard Balanced ETF Portfolio) is Diversified Portfolio fund actively managed by Vanguard, while NA.TO (National Bank of Canada) is a stock. Over the past 5 years, VBAL.TO returned 7.73%/yr vs 22.51%/yr for NA.TO. At a 0.49 correlation, their price movements are largely independent.
Performance
VBAL.TO vs. NA.TO - Performance Comparison
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Returns By Period
In the year-to-date period, VBAL.TO achieves a 7.94% return, which is significantly lower than NA.TO's 22.40% return.
VBAL.TO
- 1D
- 0.48%
- 1M
- 2.81%
- YTD
- 7.94%
- 6M
- 7.00%
- 1Y
- 18.37%
- 3Y*
- 13.77%
- 5Y*
- 7.73%
- 10Y*
- —
NA.TO
- 1D
- 0.62%
- 1M
- 2.53%
- YTD
- 22.40%
- 6M
- 23.26%
- 1Y
- 59.71%
- 3Y*
- 33.78%
- 5Y*
- 22.51%
- 10Y*
- 21.48%
VBAL.TO vs. NA.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
VBAL.TO Vanguard Balanced ETF Portfolio | 7.94% | 11.92% | 14.62% | 12.49% | -11.39% | 10.21% | 10.27% | 14.90% | -3.35% |
NA.TO National Bank of Canada | 22.40% | 36.15% | 34.65% | 15.53% | -1.45% | 39.02% | 4.01% | 34.04% | -8.56% |
Correlation
The correlation between VBAL.TO and NA.TO is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2018 | 0.49 |
The correlation between VBAL.TO and NA.TO shifts across timeframes, from 0.47 (3 years) to 0.58 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VBAL.TO vs. NA.TO — Risk / Return Rank
VBAL.TO
NA.TO
VBAL.TO vs. NA.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Balanced ETF Portfolio (VBAL.TO) and National Bank of Canada (NA.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.
| VBAL.TO | NA.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.67 | ||
| Sortino ratioReturn per unit of downside risk | -2.09 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.70 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 2.95 | 6.73 | -3.78 |
| Martin ratioReturn relative to average drawdown | 12.36 | 22.50 | -10.13 |
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Drawdowns
VBAL.TO vs. NA.TO - Drawdown Comparison
The maximum VBAL.TO drawdown since its inception was -21.19%, smaller than the maximum NA.TO drawdown of -55.45%. Use the drawdown chart below to compare losses from any high point for VBAL.TO and NA.TO.
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Drawdown Indicators
| VBAL.TO | NA.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.19% | -55.45% | +34.26% |
Max Drawdown (1Y)Largest decline over 1 year | -5.93% | -8.99% | +3.06% |
Max Drawdown (3Y)Largest decline over 3 years | -9.66% | -22.58% | +12.92% |
Max Drawdown (5Y)Largest decline over 5 years | -16.38% | -22.58% | +6.20% |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.22% | — |
Current DrawdownCurrent decline from peak | -0.50% | -1.68% | +1.18% |
Average DrawdownAverage peak-to-trough decline | -3.14% | -6.76% | +3.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.42% | 2.68% | -1.26% |
Volatility
VBAL.TO vs. NA.TO - Volatility Comparison
The current volatility for Vanguard Balanced ETF Portfolio (VBAL.TO) is 3.41%, while National Bank of Canada (NA.TO) has a volatility of 6.17%. This indicates that VBAL.TO experiences smaller price fluctuations and is considered to be less risky than NA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBAL.TO | NA.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.41% | 6.17% | -2.76% |
Volatility (6M)Calculated over the trailing 6-month period | 7.00% | 13.64% | -6.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.33% | 16.05% | -7.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.70% | 17.50% | -8.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.11% | 20.94% | -10.83% |
Dividends
VBAL.TO vs. NA.TO - Dividend Comparison
VBAL.TO's dividend yield for the trailing twelve months is around 2.07%, less than NA.TO's 2.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NA.TO National Bank of Canada | 2.31% | 2.75% | 3.36% | 4.03% | 4.03% | 3.11% | 3.96% | 3.77% | 4.44% | 3.70% | 4.03% | 5.16% |
VBAL.TO Vanguard Balanced ETF Portfolio | 2.07% | 2.23% | 2.30% | 2.37% | 2.21% | 1.95% | 1.82% | 2.25% | 2.04% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VBAL.TO and NA.TO have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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