VBG.NEO vs. XBM.TO
VBG.NEO (Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged)) and XBM.TO (iShares S&P/TSX Global Base Metals 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 XBM.TO is a Energy Equities fund tracking the Morningstar Can Natural Resource NR CAD. Both are passively managed. Over the past 10 years, VBG.NEO returned 0.33%/yr vs 19.60%/yr for XBM.TO. At a correlation of -0.04, they often move in opposite directions. VBG.NEO charges 0.39%/yr vs 0.60%/yr for XBM.TO.
Performance
VBG.NEO vs. XBM.TO - Performance Comparison
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Returns By Period
In the year-to-date period, VBG.NEO achieves a -0.27% return, which is significantly lower than XBM.TO's 37.13% return. Over the past 10 years, VBG.NEO has underperformed XBM.TO with an annualized return of 0.33%, while XBM.TO has yielded a comparatively higher 19.60% annualized return.
VBG.NEO
- 1D
- 0.09%
- 1M
- 0.02%
- YTD
- -0.27%
- 6M
- -0.75%
- 1Y
- -0.38%
- 3Y*
- 1.83%
- 5Y*
- -1.35%
- 10Y*
- 0.33%
XBM.TO
- 1D
- -0.98%
- 1M
- 10.90%
- YTD
- 37.13%
- 6M
- 45.86%
- 1Y
- 109.92%
- 3Y*
- 30.22%
- 5Y*
- 19.46%
- 10Y*
- 19.60%
VBG.NEO vs. XBM.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) | -0.27% | 0.14% | 1.68% | 6.85% | -13.38% | -3.03% | 3.87% | 6.33% | 1.34% | 1.78% |
XBM.TO iShares S&P/TSX Global Base Metals Index ETF | 37.13% | 50.69% | 5.96% | 2.84% | 3.69% | 32.04% | 31.54% | 9.93% | -22.39% | 32.45% |
Correlation
The correlation between VBG.NEO and XBM.TO is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2014 | -0.04 |
The correlation between VBG.NEO and XBM.TO shifts across timeframes, from -0.04 (10 years) to 0.15 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VBG.NEO vs. XBM.TO — Risk / Return Rank
VBG.NEO
XBM.TO
VBG.NEO vs. XBM.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 iShares S&P/TSX Global Base Metals Index ETF (XBM.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 | XBM.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.44 | ||
| Sortino ratioReturn per unit of downside risk | -3.83 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.48 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.23 | 4.84 | -5.07 |
| Martin ratioReturn relative to average drawdown | -0.55 | 18.72 | -19.27 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VBG.NEO | XBM.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.19 | 3.25 | -3.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.26 | 0.59 | -0.85 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.07 | 0.60 | -0.53 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.25 | -0.02 |
Drawdowns
VBG.NEO vs. XBM.TO - Drawdown Comparison
The maximum VBG.NEO drawdown since its inception was -17.31%, smaller than the maximum XBM.TO drawdown of -67.40%. Use the drawdown chart below to compare losses from any high point for VBG.NEO and XBM.TO.
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Drawdown Indicators
| VBG.NEO | XBM.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.31% | -67.40% | +50.09% |
Max Drawdown (1Y)Largest decline over 1 year | -3.17% | -23.88% | +20.71% |
Max Drawdown (3Y)Largest decline over 3 years | -3.17% | -37.45% | +34.28% |
Max Drawdown (5Y)Largest decline over 5 years | -16.66% | -40.57% | +23.91% |
Max Drawdown (10Y)Largest decline over 10 years | -17.31% | -57.24% | +39.93% |
Current DrawdownCurrent decline from peak | -9.05% | -4.12% | -4.93% |
Average DrawdownAverage peak-to-trough decline | -4.86% | -25.79% | +20.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.31% | 6.17% | -4.86% |
Volatility
VBG.NEO vs. XBM.TO - Volatility Comparison
The current volatility for Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) (VBG.NEO) is 1.84%, while iShares S&P/TSX Global Base Metals Index ETF (XBM.TO) has a volatility of 13.10%. This indicates that VBG.NEO experiences smaller price fluctuations and is considered to be less risky than XBM.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 | XBM.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.84% | 13.10% | -11.26% |
Volatility (6M)Calculated over the trailing 6-month period | 3.13% | 29.71% | -26.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.77% | 35.64% | -31.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.20% | 33.06% | -27.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.62% | 32.65% | -28.03% |
VBG.NEO vs. XBM.TO - Expense Ratio Comparison
VBG.NEO has a 0.39% expense ratio, which is lower than XBM.TO's 0.60% expense ratio.
Dividends
VBG.NEO vs. XBM.TO - Dividend Comparison
VBG.NEO's dividend yield for the trailing twelve months is around 3.61%, more than XBM.TO's 0.63% 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) | 3.61% | 3.46% | 3.25% | 3.44% | 1.14% | 2.91% | 0.64% | 2.54% | 2.34% | 1.74% | 1.41% | 1.26% |
XBM.TO iShares S&P/TSX Global Base Metals Index ETF | 0.63% | 0.86% | 1.25% | 2.09% | 4.83% | 3.01% | 1.81% | 3.71% | 3.43% | 1.63% | 2.42% | 5.70% |
Frequently Asked Questions
VBG.NEO and XBM.TO have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VBG.NEO is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VBG.NEO is cheaper with a 0.39% expense ratio, compared with 0.60% for XBM.TO.
VBG.NEO is categorized as Global Bonds, while XBM.TO is Energy Equities. VBG.NEO tracks Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index (CAD Hedged), while XBM.TO tracks Morningstar Can Natural Resource NR CAD. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.39% for VBG.NEO and 0.60% for XBM.TO.
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