VCB.TO vs. FLCI.TO
VCB.TO (Vanguard Canadian Corporate Bond Index ETF) and FLCI.TO (Franklin Canadian Corporate Bond Fund ETF) are both Corporate Bonds funds. VCB.TO is passively managed, while FLCI.TO is actively managed. Over the past 5 years, VCB.TO returned 2.37%/yr vs 2.56%/yr for FLCI.TO. At a 0.32 correlation, their price movements are largely independent. VCB.TO charges 0.17%/yr vs 0.39%/yr for FLCI.TO.
Performance
VCB.TO vs. FLCI.TO - Performance Comparison
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Returns By Period
In the year-to-date period, VCB.TO achieves a 1.75% return, which is significantly lower than FLCI.TO's 2.34% return.
VCB.TO
- 1D
- 0.12%
- 1M
- 0.61%
- YTD
- 1.75%
- 6M
- 1.68%
- 1Y
- 4.06%
- 3Y*
- 6.21%
- 5Y*
- 2.37%
- 10Y*
- —
FLCI.TO
- 1D
- 0.44%
- 1M
- 1.18%
- YTD
- 2.34%
- 6M
- 2.58%
- 1Y
- 5.33%
- 3Y*
- 7.24%
- 5Y*
- 2.56%
- 10Y*
- —
VCB.TO vs. FLCI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VCB.TO Vanguard Canadian Corporate Bond Index ETF | 1.75% | 4.46% | 6.63% | 7.98% | -8.96% | -1.55% | 8.33% | 4.76% | 0.29% | 1.06% |
FLCI.TO Franklin Canadian Corporate Bond Fund ETF | 2.34% | 4.88% | 8.03% | 8.31% | -10.13% | -1.36% | 8.04% | 8.29% | 0.09% | -0.28% |
Correlation
The correlation between VCB.TO and FLCI.TO is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2017 | 0.32 |
The correlation between VCB.TO and FLCI.TO shifts across timeframes, from 0.32 (all time) to 0.46 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VCB.TO vs. FLCI.TO — Risk / Return Rank
VCB.TO
FLCI.TO
VCB.TO vs. FLCI.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Canadian Corporate Bond Index ETF (VCB.TO) and Franklin Canadian Corporate Bond Fund ETF (FLCI.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.
| VCB.TO | FLCI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.24 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.66 | 2.36 | -0.70 |
| Martin ratioReturn relative to average drawdown | 5.27 | 6.55 | -1.29 |
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Drawdowns
VCB.TO vs. FLCI.TO - Drawdown Comparison
The maximum VCB.TO drawdown since its inception was -14.00%, smaller than the maximum FLCI.TO drawdown of -17.51%. Use the drawdown chart below to compare losses from any high point for VCB.TO and FLCI.TO.
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Drawdown Indicators
| VCB.TO | FLCI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.00% | -17.51% | +3.51% |
Max Drawdown (1Y)Largest decline over 1 year | -2.45% | -2.27% | -0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -3.22% | -3.31% | +0.09% |
Max Drawdown (5Y)Largest decline over 5 years | -13.17% | -14.63% | +1.46% |
Current DrawdownCurrent decline from peak | -0.08% | 0.00% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -3.05% | -3.29% | +0.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 0.82% | -0.05% |
Volatility
VCB.TO vs. FLCI.TO - Volatility Comparison
The current volatility for Vanguard Canadian Corporate Bond Index ETF (VCB.TO) is 1.04%, while Franklin Canadian Corporate Bond Fund ETF (FLCI.TO) has a volatility of 1.23%. This indicates that VCB.TO experiences smaller price fluctuations and is considered to be less risky than FLCI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCB.TO | FLCI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.04% | 1.23% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 2.66% | 3.00% | -0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.46% | 3.96% | -0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.90% | 5.64% | -0.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.63% | 6.47% | +3.16% |
VCB.TO vs. FLCI.TO - Expense Ratio Comparison
VCB.TO has a 0.17% expense ratio, which is lower than FLCI.TO's 0.39% expense ratio.
Dividends
VCB.TO vs. FLCI.TO - Dividend Comparison
VCB.TO's dividend yield for the trailing twelve months is around 3.86%, less than FLCI.TO's 4.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FLCI.TO Franklin Canadian Corporate Bond Fund ETF | 4.40% | 4.26% | 4.41% | 4.09% | 4.95% | 3.35% | 3.25% | 3.68% | 3.87% | 0.84% |
VCB.TO Vanguard Canadian Corporate Bond Index ETF | 3.86% | 3.88% | 3.74% | 3.41% | 3.21% | 2.69% | 2.75% | 2.86% | 2.86% | 2.51% |
Frequently Asked Questions
VCB.TO and FLCI.TO have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VCB.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VCB.TO is cheaper with a 0.17% expense ratio, compared with 0.39% for FLCI.TO.
They also come from different issuers: Vanguard and Franklin. Their fees differ too: 0.17% for VCB.TO and 0.39% for FLCI.TO.
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