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VBG.NEO vs. BND.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VBG.NEO vs. BND.TO

Last updated Jun 26, 2026

VBG.NEO (Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged)) and BND.TO (Purpose Global Bond Fund) are both Global Bonds funds. VBG.NEO is passively managed, while BND.TO is actively managed. Over the past 10 years, VBG.NEO returned 0.30%/yr vs 3.04%/yr for BND.TO. At a 0.21 correlation, their price movements are largely independent.

Performance

VBG.NEO vs. BND.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) (VBG.NEO) and Purpose Global Bond Fund (BND.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VBG.NEO achieves a 0.49% return, which is significantly lower than BND.TO's 1.60% return. Over the past 10 years, VBG.NEO has underperformed BND.TO with an annualized return of 0.30%, while BND.TO has yielded a comparatively higher 3.04% annualized return.

VBG.NEO

1D
0.27%
1M
0.65%
YTD
0.49%
6M
0.27%
1Y
-0.05%
3Y*
1.94%
5Y*
-1.17%
10Y*
0.30%

BND.TO

1D
0.06%
1M
0.88%
YTD
1.60%
6M
1.75%
1Y
5.54%
3Y*
7.40%
5Y*
3.23%
10Y*
3.04%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VBG.NEO vs. BND.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VBG.NEO
Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged)		0.49%0.14%1.68%6.97%-13.38%-3.03%3.87%6.33%1.34%1.78%
BND.TO
Purpose Global Bond Fund		1.60%7.26%7.49%8.45%-7.80%2.62%6.14%4.16%-0.91%1.72%

Correlation

The correlation between VBG.NEO and BND.TO is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.27

Correlation (3Y)
Calculated over the trailing 3-year period

0.28

Correlation (5Y)
Calculated over the trailing 5-year period

0.23

Correlation (10Y)
Calculated over the trailing 10-year period

0.21

Correlation (All Time)
Calculated using the full available price history since Oct 28, 2015

0.21

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Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged)

Purpose Global Bond Fund

Often compared with VBG.NEO:
VBG.NEO vs. VBU.NEOVBG.NEO vs. VAB.TOVBG.NEO vs. TGFI.TOVBG.NEO vs. NUBF.TOVBG.NEO vs. VGAB.NEOVBG.NEO vs. HAF.TOVBG.NEO vs. FFIX.NEO
Often compared with BND.TO:
BND.TO vs. SGOVBND.TO vs. SCHDBND.TO vs. SPYBND.TO vs. JEPIBND.TO vs. BNDBND.TO vs. SCHIBND.TO vs. FALN

Return for Risk

VBG.NEO vs. BND.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VBG.NEO
VBG.NEO Risk / Return Rank: 88
Overall Rank
VBG.NEO Sharpe Ratio Rank: 99
Sharpe Ratio Rank
VBG.NEO Sortino Ratio Rank: 88
Sortino Ratio Rank
VBG.NEO Omega Ratio Rank: 88
Omega Ratio Rank
VBG.NEO Calmar Ratio Rank: 99
Calmar Ratio Rank
VBG.NEO Martin Ratio Rank: 99
Martin Ratio Rank
BND.TO
BND.TO Risk / Return Rank: 5858
Overall Rank
BND.TO Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
BND.TO Sortino Ratio Rank: 6666
Sortino Ratio Rank
BND.TO Omega Ratio Rank: 6666
Omega Ratio Rank
BND.TO Calmar Ratio Rank: 4444
Calmar Ratio Rank
BND.TO Martin Ratio Rank: 5353
Martin Ratio Rank
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.

VBG.NEO vs. BND.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) (VBG.NEO) and Purpose Global Bond Fund (BND.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.

VBG.NEOBND.TODifference
Sharpe ratioReturn per unit of total volatility
-0.01
1.78

-1.80

Sortino ratioReturn per unit of downside risk
0.01
2.60

-2.59

Omega ratioGain probability vs. loss probability

1.00

1.34

-0.34

Calmar ratioReturn relative to maximum drawdown

-0.01

1.94

-1.95

Martin ratioReturn relative to average drawdown

-0.03

7.99

-8.03

VBG.NEO vs. BND.TO - Sharpe Ratio Comparison

The current VBG.NEO Sharpe Ratio is -0.01, which is lower than the BND.TO Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of VBG.NEO and BND.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.

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Drawdowns

VBG.NEO vs. BND.TO - Drawdown Comparison

The maximum VBG.NEO drawdown since its inception was -17.31%, roughly equal to the maximum BND.TO drawdown of -16.55%. Use the drawdown chart below to compare losses from any high point for VBG.NEO and BND.TO.

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Drawdown Indicators

VBG.NEOBND.TODifference

Max Drawdown

Largest peak-to-trough decline

-17.31%

-16.55%

-0.76%

Max Drawdown (1Y)

Largest decline over 1 year

-3.17%

-2.87%

-0.30%

Max Drawdown (3Y)

Largest decline over 3 years

-3.17%

-4.46%

+1.29%

Max Drawdown (5Y)

Largest decline over 5 years

-16.66%

-12.43%

-4.23%

Max Drawdown (10Y)

Largest decline over 10 years

-17.31%

-16.55%

-0.76%

Current Drawdown

Current decline from peak

-8.25%

-0.06%

-8.19%

Average Drawdown

Average peak-to-trough decline

-4.86%

-2.10%

-2.76%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.38%

0.70%

+0.68%

Volatility

VBG.NEO vs. BND.TO - Volatility Comparison

The current volatility for Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) (VBG.NEO) is 0.93%, while Purpose Global Bond Fund (BND.TO) has a volatility of 1.20%. This indicates that VBG.NEO experiences smaller price fluctuations and is considered to be less risky than BND.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VBG.NEOBND.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.93%

1.20%

-0.27%

Volatility (6M)

Calculated over the trailing 6-month period

3.17%

2.72%

+0.45%

Volatility (1Y)

Calculated over the trailing 1-year period

3.79%

3.12%

+0.67%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.21%

5.10%

+0.11%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.62%

5.15%

-0.53%

Dividends

VBG.NEO vs. BND.TO - Dividend Comparison

VBG.NEO's dividend yield for the trailing twelve months is around 3.58%, less than BND.TO's 5.82% yield.

PositionTTM20252024202320222021202020192018201720162015
BND.TO
Purpose Global Bond Fund		5.82%5.70%5.24%5.20%4.14%3.67%3.48%3.11%3.96%3.47%3.26%0.53%
VBG.NEO
Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged)		3.58%3.46%3.25%3.54%1.14%2.91%0.64%2.54%2.34%1.74%1.41%1.26%

Frequently Asked Questions

VBG.NEO and BND.TO have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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