VBG.NEO vs. VEE.TO
VBG.NEO (Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged)) and VEE.TO (Vanguard FTSE Emerging Markets All Cap Index ETF) are both exchange-traded funds - VBG.NEO is a Global Bonds fund tracking the Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index (CAD Hedged), while VEE.TO is a Emerging Markets Equities fund tracking the FTSE Emerging Markets All Cap China A Inclusion Index. Both are passively managed. Over the past 10 years, VBG.NEO returned 0.30%/yr vs 9.28%/yr for VEE.TO. At a 0.03 correlation, their price movements are largely independent. VBG.NEO charges 0.39%/yr vs 0.25%/yr for VEE.TO.
Performance
VBG.NEO vs. VEE.TO - Performance Comparison
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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 VEE.TO's 13.09% return. Over the past 10 years, VBG.NEO has underperformed VEE.TO with an annualized return of 0.30%, while VEE.TO has yielded a comparatively higher 9.28% 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%
VEE.TO
- 1D
- -0.50%
- 1M
- 0.39%
- YTD
- 13.09%
- 6M
- 13.78%
- 1Y
- 26.42%
- 3Y*
- 19.16%
- 5Y*
- 7.11%
- 10Y*
- 9.28%
VBG.NEO vs. VEE.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) | 0.49% | 0.14% | 1.68% | 6.97% | -13.38% | -3.03% | 3.87% | 6.33% | 1.34% | 1.78% |
VEE.TO Vanguard FTSE Emerging Markets All Cap Index ETF | 13.09% | 19.32% | 19.06% | 6.24% | -12.79% | 0.06% | 12.32% | 14.32% | -7.93% | 22.60% |
Correlation
The correlation between VBG.NEO and VEE.TO is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2014 | 0.03 |
Over the past year, VBG.NEO and VEE.TO have become more correlated (0.25) than their long-term average of 0.03, meaning their price movements have been converging.
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Return for Risk
VBG.NEO vs. VEE.TO — Risk / Return Rank
VBG.NEO
VEE.TO
VBG.NEO vs. VEE.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 FTSE Emerging Markets All Cap Index ETF (VEE.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.NEO | VEE.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.65 | ||
| Sortino ratioReturn per unit of downside risk | -2.28 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.31 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.01 | 2.47 | -2.49 |
| Martin ratioReturn relative to average drawdown | -0.03 | 8.77 | -8.80 |
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Drawdowns
VBG.NEO vs. VEE.TO - Drawdown Comparison
The maximum VBG.NEO drawdown since its inception was -17.31%, smaller than the maximum VEE.TO drawdown of -29.84%. Use the drawdown chart below to compare losses from any high point for VBG.NEO and VEE.TO.
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Drawdown Indicators
| VBG.NEO | VEE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.31% | -29.84% | +12.53% |
Max Drawdown (1Y)Largest decline over 1 year | -3.17% | -10.74% | +7.57% |
Max Drawdown (3Y)Largest decline over 3 years | -3.17% | -14.97% | +11.80% |
Max Drawdown (5Y)Largest decline over 5 years | -16.66% | -26.10% | +9.44% |
Max Drawdown (10Y)Largest decline over 10 years | -17.31% | -29.84% | +12.53% |
Current DrawdownCurrent decline from peak | -8.25% | -3.72% | -4.53% |
Average DrawdownAverage peak-to-trough decline | -4.86% | -8.70% | +3.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.38% | 3.02% | -1.64% |
Volatility
VBG.NEO vs. VEE.TO - Volatility Comparison
The current volatility for Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) (VBG.NEO) is 0.93%, while Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO) has a volatility of 6.85%. This indicates that VBG.NEO experiences smaller price fluctuations and is considered to be less risky than VEE.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.NEO | VEE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.93% | 6.85% | -5.92% |
Volatility (6M)Calculated over the trailing 6-month period | 3.17% | 14.18% | -11.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.79% | 16.21% | -12.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.21% | 15.51% | -10.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.62% | 17.00% | -12.38% |
VBG.NEO vs. VEE.TO - Expense Ratio Comparison
VBG.NEO has a 0.39% expense ratio, which is higher than VEE.TO's 0.25% expense ratio.
Dividends
VBG.NEO vs. VEE.TO - Dividend Comparison
VBG.NEO's dividend yield for the trailing twelve months is around 3.58%, more than VEE.TO's 1.84% yield.
| Position | 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) | 3.58% | 3.46% | 3.25% | 3.54% | 1.14% | 2.91% | 0.64% | 2.54% | 2.34% | 1.74% | 1.41% | 1.26% |
VEE.TO Vanguard FTSE Emerging Markets All Cap Index ETF | 1.84% | 2.26% | 2.45% | 2.83% | 3.35% | 2.18% | 1.62% | 2.71% | 2.24% | 1.93% | 2.01% | 2.53% |
Frequently Asked Questions
VBG.NEO and VEE.TO have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VEE.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VEE.TO is cheaper with a 0.25% expense ratio, compared with 0.39% for VBG.NEO.
VBG.NEO is categorized as Global Bonds, while VEE.TO is Emerging Markets Equities. VBG.NEO tracks Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index (CAD Hedged), while VEE.TO tracks FTSE Emerging Markets All Cap China A Inclusion Index. Their fees differ too: 0.39% for VBG.NEO and 0.25% for VEE.TO.
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