VCB.TO vs. XEI.TO
VCB.TO (Vanguard Canadian Corporate Bond Index ETF) and XEI.TO (iShares S&P/TSX Composite High Dividend Index ETF) are both exchange-traded funds - VCB.TO is a Corporate Bonds fund tracking the Bloomberg Global Aggregate Canadian Corporate Float Adjusted Bond Index, while XEI.TO is a Canada Equities fund tracking the S&P/TSX Composite High Dividend Index. Both are passively managed. Over the past 5 years, VCB.TO returned 2.32%/yr vs 15.55%/yr for XEI.TO. At a 0.05 correlation, their price movements are largely independent. VCB.TO charges 0.17%/yr vs 0.22%/yr for XEI.TO.
Performance
VCB.TO vs. XEI.TO - Performance Comparison
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Returns By Period
In the year-to-date period, VCB.TO achieves a 1.58% return, which is significantly lower than XEI.TO's 22.21% return.
VCB.TO
- 1D
- 0.04%
- 1M
- 1.53%
- YTD
- 1.58%
- 6M
- 1.39%
- 1Y
- 4.28%
- 3Y*
- 6.09%
- 5Y*
- 2.32%
- 10Y*
- —
XEI.TO
- 1D
- 0.00%
- 1M
- 3.33%
- YTD
- 22.21%
- 6M
- 23.56%
- 1Y
- 43.59%
- 3Y*
- 22.26%
- 5Y*
- 15.55%
- 10Y*
- 12.32%
VCB.TO vs. XEI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VCB.TO Vanguard Canadian Corporate Bond Index ETF | 1.58% | 4.46% | 6.63% | 7.98% | -8.96% | -1.55% | 8.11% | 6.20% | 0.28% | 1.75% |
XEI.TO iShares S&P/TSX Composite High Dividend Index ETF | 22.21% | 25.96% | 15.42% | 6.69% | 0.41% | 35.88% | -7.53% | 25.44% | -10.85% | 5.93% |
Correlation
The correlation between VCB.TO and XEI.TO is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2017 | 0.05 |
The correlation between VCB.TO and XEI.TO shifts across timeframes, from -0.00 (1 year) to 0.17 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VCB.TO vs. XEI.TO — Risk / Return Rank
VCB.TO
XEI.TO
VCB.TO vs. XEI.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 iShares S&P/TSX Composite High Dividend Index ETF (XEI.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.
| VCB.TO | XEI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.82 | ||
| Sortino ratioReturn per unit of downside risk | -7.31 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 2.27 | -1.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | 19.53 | -17.77 |
| Martin ratioReturn relative to average drawdown | 5.51 | 66.28 | -60.77 |
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
| VCB.TO | XEI.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 6.08 | -4.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | 1.39 | -0.92 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.77 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.67 | -0.17 |
Drawdowns
VCB.TO vs. XEI.TO - Drawdown Comparison
The maximum VCB.TO drawdown since its inception was -13.99%, smaller than the maximum XEI.TO drawdown of -45.51%. Use the drawdown chart below to compare losses from any high point for VCB.TO and XEI.TO.
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Drawdown Indicators
| VCB.TO | XEI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.99% | -45.51% | +31.52% |
Max Drawdown (1Y)Largest decline over 1 year | -2.45% | -2.24% | -0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -3.22% | -9.92% | +6.70% |
Max Drawdown (5Y)Largest decline over 5 years | -13.17% | -17.32% | +4.15% |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.51% | — |
Current DrawdownCurrent decline from peak | -0.03% | -0.76% | +0.73% |
Average DrawdownAverage peak-to-trough decline | -2.86% | -5.05% | +2.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 0.66% | +0.12% |
Volatility
VCB.TO vs. XEI.TO - Volatility Comparison
The current volatility for Vanguard Canadian Corporate Bond Index ETF (VCB.TO) is 1.26%, while iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) has a volatility of 2.87%. This indicates that VCB.TO experiences smaller price fluctuations and is considered to be less risky than XEI.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 | XEI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.26% | 2.87% | -1.61% |
Volatility (6M)Calculated over the trailing 6-month period | 2.64% | 6.01% | -3.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.42% | 7.21% | -3.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.89% | 11.24% | -6.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.51% | 16.01% | -10.50% |
VCB.TO vs. XEI.TO - Expense Ratio Comparison
VCB.TO has a 0.17% expense ratio, which is lower than XEI.TO's 0.22% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VCB.TO vs. XEI.TO - Dividend Comparison
VCB.TO's dividend yield for the trailing twelve months is around 3.87%, more than XEI.TO's 3.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VCB.TO Vanguard Canadian Corporate Bond Index ETF | 3.87% | 3.88% | 3.74% | 3.41% | 3.21% | 2.69% | 2.75% | 2.82% | 2.85% | 2.51% | 0.00% | 0.00% |
XEI.TO iShares S&P/TSX Composite High Dividend Index ETF | 3.56% | 4.39% | 5.56% | 5.08% | 4.78% | 3.65% | 5.13% | 4.71% | 5.53% | 4.37% | 4.51% | 5.75% |
Frequently Asked Questions
VCB.TO and XEI.TO have a correlation of -0.00, 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 0.22% for XEI.TO.
VCB.TO is categorized as Corporate Bonds, while XEI.TO is Canada Equities. VCB.TO tracks Bloomberg Global Aggregate Canadian Corporate Float Adjusted Bond Index, while XEI.TO tracks S&P/TSX Composite High Dividend Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.17% for VCB.TO and 0.22% for XEI.TO.
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