VCE.TO vs. VBAL.TO
VCE.TO (Vanguard FTSE Canada Index ETF) and VBAL.TO (Vanguard Balanced ETF Portfolio) are both exchange-traded funds - VCE.TO is a Canada Equities fund tracking the FTSE Canada Domestic Index, while VBAL.TO is a Diversified Portfolio fund actively managed by Vanguard. VCE.TO is passively managed, while VBAL.TO is actively managed. Over the past 5 years, VCE.TO returned 14.43%/yr vs 7.87%/yr for VBAL.TO. Their correlation of 0.81 suggests significant overlap in exposure. VCE.TO charges 0.06%/yr vs 0.24%/yr for VBAL.TO.
Performance
VCE.TO vs. VBAL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, VCE.TO achieves a 10.03% return, which is significantly higher than VBAL.TO's 8.13% return.
VCE.TO
- 1D
- -0.96%
- 1M
- 3.36%
- YTD
- 10.03%
- 6M
- 10.19%
- 1Y
- 28.98%
- 3Y*
- 22.22%
- 5Y*
- 14.43%
- 10Y*
- 12.58%
VBAL.TO
- 1D
- -0.30%
- 1M
- 4.26%
- YTD
- 8.13%
- 6M
- 6.49%
- 1Y
- 18.31%
- 3Y*
- 13.79%
- 5Y*
- 7.87%
- 10Y*
- —
VCE.TO vs. VBAL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
VCE.TO Vanguard FTSE Canada Index ETF | 10.03% | 26.39% | 21.43% | 12.26% | -5.20% | 28.59% | 4.09% | 22.99% | -5.83% |
VBAL.TO Vanguard Balanced ETF Portfolio | 8.13% | 11.88% | 14.56% | 12.43% | -11.44% | 10.16% | 10.23% | 14.85% | -2.87% |
Correlation
The correlation between VCE.TO and VBAL.TO is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2018 | 0.81 |
The correlation between VCE.TO and VBAL.TO has been stable across timeframes, ranging from 0.80 to 0.82 - a consistent structural relationship.
VCE.TO vs. VBAL.TO - Sectors Allocation Comparison
Sectors
VCE.TO
VBAL.TO
Financial Services
Energy
Basic Materials
Industrials
Technology
Consumer Cyclical
Consumer Defensive
Utilities
Communication Services
Real Estate
Healthcare
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Financial Services
VCE.TO
VBAL.TO
Energy
VCE.TO
VBAL.TO
Basic Materials
VCE.TO
VBAL.TO
Industrials
VCE.TO
VBAL.TO
Technology
VCE.TO
VBAL.TO
Consumer Cyclical
VCE.TO
VBAL.TO
Consumer Defensive
VCE.TO
VBAL.TO
Utilities
VCE.TO
VBAL.TO
Communication Services
VCE.TO
VBAL.TO
Real Estate
VCE.TO
VBAL.TO
Healthcare
VCE.TO
-
VBAL.TO
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Return for Risk
VCE.TO vs. VBAL.TO — Risk / Return Rank
VCE.TO
VBAL.TO
VCE.TO vs. VBAL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Canada Index ETF (VCE.TO) and Vanguard Balanced ETF Portfolio (VBAL.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.
| VCE.TO | VBAL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.44 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.60 | 3.10 | +0.50 |
| Martin ratioReturn relative to average drawdown | 16.77 | 13.17 | +3.60 |
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
| VCE.TO | VBAL.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.37 | 2.30 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.14 | 0.92 | +0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.84 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 0.78 | -0.01 |
Drawdowns
VCE.TO vs. VBAL.TO - Drawdown Comparison
The maximum VCE.TO drawdown since its inception was -35.92%, which is greater than VBAL.TO's maximum drawdown of -21.19%. Use the drawdown chart below to compare losses from any high point for VCE.TO and VBAL.TO.
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Drawdown Indicators
| VCE.TO | VBAL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.92% | -21.19% | -14.73% |
Max Drawdown (1Y)Largest decline over 1 year | -8.09% | -5.93% | -2.16% |
Max Drawdown (3Y)Largest decline over 3 years | -12.16% | -9.68% | -2.48% |
Max Drawdown (5Y)Largest decline over 5 years | -15.90% | -16.45% | +0.55% |
Max Drawdown (10Y)Largest decline over 10 years | -35.92% | — | — |
Current DrawdownCurrent decline from peak | -0.96% | -0.30% | -0.66% |
Average DrawdownAverage peak-to-trough decline | -3.73% | -3.17% | -0.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.73% | 1.39% | +0.34% |
Volatility
VCE.TO vs. VBAL.TO - Volatility Comparison
Vanguard FTSE Canada Index ETF (VCE.TO) has a higher volatility of 3.47% compared to Vanguard Balanced ETF Portfolio (VBAL.TO) at 2.73%. This indicates that VCE.TO's price experiences larger fluctuations and is considered to be riskier than VBAL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCE.TO | VBAL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.47% | 2.73% | +0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 10.00% | 6.59% | +3.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.30% | 7.99% | +4.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.78% | 8.63% | +4.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.99% | 10.09% | +4.90% |
VCE.TO vs. VBAL.TO - Expense Ratio Comparison
VCE.TO has a 0.06% expense ratio, which is lower than VBAL.TO's 0.24% 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
VCE.TO vs. VBAL.TO - Dividend Comparison
VCE.TO's dividend yield for the trailing twelve months is around 2.17%, more than VBAL.TO's 2.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBAL.TO Vanguard Balanced ETF Portfolio | 2.05% | 2.21% | 2.26% | 2.32% | 2.16% | 1.91% | 1.79% | 2.20% | 1.99% | 0.00% | 0.00% | 0.00% |
VCE.TO Vanguard FTSE Canada Index ETF | 2.17% | 2.42% | 2.84% | 3.16% | 3.21% | 2.61% | 2.93% | 3.01% | 3.21% | 2.57% | 2.64% | 2.98% |
Frequently Asked Questions
VCE.TO and VBAL.TO have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VCE.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VCE.TO is cheaper with a 0.06% expense ratio, compared with 0.24% for VBAL.TO.
VCE.TO is categorized as Canada Equities, while VBAL.TO is Diversified Portfolio. Their fees differ too: 0.06% for VCE.TO and 0.24% for VBAL.TO.
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