VBU.NEO vs. QBB.TO
VBU.NEO (Vanguard U.S. Aggregate Bond Index ETF) and QBB.TO (Mackenzie Canadian Aggregate Bond Index ETF) are both Total Bond Market funds. VBU.NEO is passively managed, while QBB.TO is actively managed. Over the past 5 years, VBU.NEO returned -1.34%/yr vs 0.41%/yr for QBB.TO. A 0.53 correlation means they provide meaningful diversification when combined.
Performance
VBU.NEO vs. QBB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, VBU.NEO achieves a -0.70% return, which is significantly lower than QBB.TO's 0.99% return.
VBU.NEO
- 1D
- 0.02%
- 1M
- -0.46%
- 6M
- -1.12%
- YTD
- -0.70%
- 1Y
- 2.37%
- 3Y*
- 2.31%
- 5Y*
- -1.34%
- 10Y*
- 0.51%
QBB.TO
- 1D
- 0.02%
- 1M
- -0.68%
- 6M
- 0.45%
- YTD
- 0.99%
- 1Y
- 4.09%
- 3Y*
- 4.18%
- 5Y*
- 0.41%
- 10Y*
- —
VBU.NEO vs. QBB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
VBU.NEO Vanguard U.S. Aggregate Bond Index ETF | -0.70% | 4.92% | 0.11% | 4.79% | -13.68% | -2.06% | 7.26% | 7.77% | 1.12% |
QBB.TO Mackenzie Canadian Aggregate Bond Index ETF | 0.99% | 2.70% | 3.90% | 7.16% | -11.56% | -2.12% | 6.73% | 7.32% | 2.61% |
Correlation
The correlation between VBU.NEO and QBB.TO is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2018 | 0.53 |
The correlation between VBU.NEO and QBB.TO shifts across timeframes, from 0.53 (all time) to 0.69 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VBU.NEO vs. QBB.TO — Risk / Return Rank
VBU.NEO
QBB.TO
VBU.NEO vs. QBB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard U.S. Aggregate Bond Index ETF (VBU.NEO) and Mackenzie Canadian Aggregate Bond Index ETF (QBB.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.
| VBU.NEO | QBB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.18 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.77 | 1.46 | -0.69 |
| Martin ratioReturn relative to average drawdown | 2.00 | 3.72 | -1.73 |
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Drawdowns
VBU.NEO vs. QBB.TO - Drawdown Comparison
The maximum VBU.NEO drawdown since its inception was -19.34%, which is greater than QBB.TO's maximum drawdown of -16.70%. Use the drawdown chart below to compare losses from any high point for VBU.NEO and QBB.TO.
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Drawdown Indicators
| VBU.NEO | QBB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.34% | -16.70% | -2.64% |
Max Drawdown (1Y)Largest decline over 1 year | -3.08% | -2.81% | -0.27% |
Max Drawdown (3Y)Largest decline over 3 years | -5.94% | -4.21% | -1.73% |
Max Drawdown (5Y)Largest decline over 5 years | -18.44% | -15.32% | -3.12% |
Max Drawdown (10Y)Largest decline over 10 years | -19.34% | — | — |
Current DrawdownCurrent decline from peak | -8.18% | -1.16% | -7.02% |
Average DrawdownAverage peak-to-trough decline | -5.32% | -4.62% | -0.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 1.10% | +0.09% |
Volatility
VBU.NEO vs. QBB.TO - Volatility Comparison
Vanguard U.S. Aggregate Bond Index ETF (VBU.NEO) has a higher volatility of 1.24% compared to Mackenzie Canadian Aggregate Bond Index ETF (QBB.TO) at 1.10%. This indicates that VBU.NEO's price experiences larger fluctuations and is considered to be riskier than QBB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBU.NEO | QBB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 1.10% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 3.71% | 3.23% | +0.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.45% | 4.18% | +0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.30% | 6.15% | +0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.95% | 6.26% | -0.31% |
Dividends
VBU.NEO vs. QBB.TO - Dividend Comparison
VBU.NEO's dividend yield for the trailing twelve months is around 3.67%, more than QBB.TO's 3.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QBB.TO Mackenzie Canadian Aggregate Bond Index ETF | 3.16% | 3.22% | 3.00% | 2.72% | 2.42% | 2.64% | 2.26% | 2.72% | 2.62% | 0.00% | 0.00% | 0.00% |
VBU.NEO Vanguard U.S. Aggregate Bond Index ETF | 3.67% | 3.50% | 3.34% | 2.93% | 2.32% | 1.87% | 2.15% | 2.36% | 2.24% | 2.20% | 2.18% | 2.23% |
Frequently Asked Questions
VBU.NEO and QBB.TO have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Vanguard and Mackenzie.
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