VBG.NEO vs. VAB.TO

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) (VBG.NEO) and Vanguard Canadian Aggregate Bond Index ETF (VAB.TO).

VBG.NEO and VAB.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VBG.NEO is a passively managed fund by Vanguard that tracks the performance of the Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index (CAD Hedged). It was launched on Jun 30, 2014. VAB.TO is a passively managed fund by Vanguard that tracks the performance of the Bloomberg Global Aggregate Canadian Float Adjusted Bond Index. It was launched on Nov 30, 2011. Both VBG.NEO and VAB.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

VBG.NEO vs. VAB.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 Vanguard Canadian Aggregate Bond Index ETF (VAB.TO). The values are adjusted to include any dividend payments, if applicable.

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VBG.NEO Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged)	-0.53%	0.14%	1.68%	6.85%	-13.38%	-3.03%	3.87%	6.33%	1.34%	1.78%
VAB.TO Vanguard Canadian Aggregate Bond Index ETF	0.13%	2.28%	3.98%	6.90%	-11.86%	-2.88%	8.26%	6.77%	1.13%	2.30%

Returns By Period

In the year-to-date period, VBG.NEO achieves a -0.53% return, which is significantly lower than VAB.TO's 0.13% return. Over the past 10 years, VBG.NEO has underperformed VAB.TO with an annualized return of 0.39%, while VAB.TO has yielded a comparatively higher 1.54% annualized return.

VBG.NEO

• 1D: 0.69%
• 1M: -1.85%
• YTD: -0.53%
• 6M: -1.08%
• 1Y: -0.01%
• 3Y*: 1.63%
• 5Y*: -1.44%
• 10Y*: 0.39%

VAB.TO

• 1D: 0.00%
• 1M: -1.51%
• YTD: 0.13%
• 6M: -0.09%
• 1Y: 0.37%
• 3Y*: 3.27%
• 5Y*: 0.52%
• 10Y*: 1.54%

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

VBG.NEO vs. VAB.TO - Expense Ratio Comparison

VBG.NEO has a 0.39% expense ratio, which is higher than VAB.TO's 0.09% expense ratio.

VBG.NEO

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

VAB.TO

Vanguard Canadian Aggregate Bond Index ETF

Return for Risk

VBG.NEO vs. VAB.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: 11
VBG.NEO Sharpe Ratio Rank: 12
VBG.NEO Sortino Ratio Rank: 10
VBG.NEO Omega Ratio Rank: 10
VBG.NEO Calmar Ratio Rank: 12
VBG.NEO Martin Ratio Rank: 12

VAB.TO

VAB.TO Risk / Return Rank: 13
VAB.TO Sharpe Ratio Rank: 13
VAB.TO Sortino Ratio Rank: 11
VAB.TO Omega Ratio Rank: 11
VAB.TO Calmar Ratio Rank: 16
VAB.TO Martin Ratio Rank: 15

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. VAB.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 Vanguard Canadian Aggregate Bond Index ETF (VAB.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.

	VBG.NEO	VAB.TO	Difference
Sharpe ratio Return per unit of total volatility	-0.00	0.08	-0.08
Sortino ratio Return per unit of downside risk	0.02	0.13	-0.12
Omega ratio Gain probability vs. loss probability	1.00	1.02	-0.02
Calmar ratio Return relative to maximum drawdown	0.05	0.20	-0.15
Martin ratio Return relative to average drawdown	0.16	0.40	-0.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current VBG.NEO Sharpe Ratio is -0.00, which is lower than the VAB.TO Sharpe Ratio of 0.08. The chart below compares the historical Sharpe Ratios of VBG.NEO and VAB.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VBG.NEO	VAB.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.00	0.08	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.28	0.08	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.09	0.24	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.38	-0.15

Correlation

The correlation between VBG.NEO and VAB.TO is 0.63, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

VBG.NEO vs. VAB.TO - Dividend Comparison

VBG.NEO's dividend yield for the trailing twelve months is around 3.54%, more than VAB.TO's 3.34% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VBG.NEO Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged)	3.54%	3.46%	3.25%	3.44%	1.14%	2.91%	0.64%	2.54%	2.34%	1.74%	1.41%	1.26%
VAB.TO Vanguard Canadian Aggregate Bond Index ETF	3.34%	3.33%	3.19%	2.95%	2.87%	2.48%	2.50%	2.65%	2.79%	2.77%	2.75%	2.78%

Drawdowns

VBG.NEO vs. VAB.TO - Drawdown Comparison

The maximum VBG.NEO drawdown since its inception was -17.31%, smaller than the maximum VAB.TO drawdown of -18.39%. Use the drawdown chart below to compare losses from any high point for VBG.NEO and VAB.TO.

Drawdown Indicators

	VBG.NEO	VAB.TO	Difference
Max Drawdown Largest peak-to-trough decline	-17.31%	-18.39%	+1.08%
Max Drawdown (1Y) Largest decline over 1 year	-3.14%	-2.86%	-0.28%
Max Drawdown (5Y) Largest decline over 5 years	-16.66%	-15.82%	-0.84%
Max Drawdown (10Y) Largest decline over 10 years	-17.31%	-18.39%	+1.08%
Current Drawdown Current decline from peak	-9.28%	-3.36%	-5.92%
Average Drawdown Average peak-to-trough decline	-4.80%	-4.13%	-0.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	1.41%	-0.46%

Volatility

VBG.NEO vs. VAB.TO - Volatility Comparison

The current volatility for Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) (VBG.NEO) is 1.76%, while Vanguard Canadian Aggregate Bond Index ETF (VAB.TO) has a volatility of 2.02%. This indicates that VBG.NEO experiences smaller price fluctuations and is considered to be less risky than VAB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VBG.NEO	VAB.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.76%	2.02%	-0.26%
Volatility (6M) Calculated over the trailing 6-month period	2.37%	3.06%	-0.69%
Volatility (1Y) Calculated over the trailing 1-year period	3.44%	4.65%	-1.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.12%	6.54%	-1.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.58%	6.46%	-1.88%