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VCE.TO vs. VGRO.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VCE.TO vs. VGRO.TO

Last updated Jun 5, 2026

VCE.TO (Vanguard FTSE Canada Index ETF) and VGRO.TO (Vanguard Growth ETF Portfolio) are both exchange-traded funds - VCE.TO is a Canada Equities fund tracking the FTSE Canada Domestic Index, while VGRO.TO is a Diversified Portfolio fund actively managed by Vanguard. VCE.TO is passively managed, while VGRO.TO is actively managed. Over the past 5 years, VCE.TO returned 14.72%/yr vs 11.00%/yr for VGRO.TO. Their correlation of 0.83 suggests significant overlap in exposure. VCE.TO charges 0.06%/yr vs 0.20%/yr for VGRO.TO.

Performance

VCE.TO vs. VGRO.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Canada Index ETF (VCE.TO) and Vanguard Growth ETF Portfolio (VGRO.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with VCE.TO having a 11.48% return and VGRO.TO slightly lower at 10.97%.

VCE.TO

1D
1.31%
1M
5.01%
YTD
11.48%
6M
10.47%
1Y
31.35%
3Y*
22.98%
5Y*
14.72%
10Y*
12.70%

VGRO.TO

1D
0.57%
1M
5.12%
YTD
10.97%
6M
9.68%
1Y
25.48%
3Y*
18.25%
5Y*
11.00%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

VCE.TO vs. VGRO.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
VCE.TO
Vanguard FTSE Canada Index ETF		11.48%26.39%21.43%12.26%-5.20%28.59%4.09%22.99%-5.83%
VGRO.TO
Vanguard Growth ETF Portfolio		10.97%16.11%19.27%14.79%-11.21%14.79%10.85%17.74%-4.13%

Correlation

The correlation between VCE.TO and VGRO.TO is 0.84, 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

0.84

Correlation (3Y)
Calculated over the trailing 3-year period

0.84

Correlation (5Y)
Calculated over the trailing 5-year period

0.83

Correlation (All Time)
Calculated using the full available price history since Feb 2, 2018

0.83

The correlation between VCE.TO and VGRO.TO has been stable across timeframes, ranging from 0.83 to 0.84 - a consistent structural relationship.

VCE.TO vs. VGRO.TO - Sectors Allocation Comparison

Sectors
VCE.TO
VGRO.TO

Financial Services

37.4%
20.6%

Energy

18.4%
8.7%

Basic Materials

15.4%
8.6%

Industrials

10.6%
11.6%

Technology

8.2%
20.3%

Consumer Cyclical

3.4%
7.8%

Consumer Defensive

2.9%
4.6%

Utilities

1.9%
2.8%

Communication Services

1.5%
6.0%

Real Estate

0.2%
2.3%

Healthcare

-

6.7%

Financial Services

VCE.TO
37.4%
VGRO.TO
20.6%

Energy

VCE.TO
18.4%
VGRO.TO
8.7%

Basic Materials

VCE.TO
15.4%
VGRO.TO
8.6%

Industrials

VCE.TO
10.6%
VGRO.TO
11.6%

Technology

VCE.TO
8.2%
VGRO.TO
20.3%

Consumer Cyclical

VCE.TO
3.4%
VGRO.TO
7.8%

Consumer Defensive

VCE.TO
2.9%
VGRO.TO
4.6%

Utilities

VCE.TO
1.9%
VGRO.TO
2.8%

Communication Services

VCE.TO
1.5%
VGRO.TO
6.0%

Real Estate

VCE.TO
0.2%
VGRO.TO
2.3%

Healthcare

VCE.TO

-

VGRO.TO
6.7%

Compare stocks, funds, or ETFs

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Vanguard FTSE Canada Index ETF

Vanguard Growth ETF Portfolio

Often compared with VCE.TO:
VCE.TO vs. VDY.TOVCE.TO vs. VCN.TOVCE.TO vs. XIC.TOVCE.TO vs. VFV.TOVCE.TO vs. VEQT.TOVCE.TO vs. ZCN.TOVCE.TO vs. VXC.TO
Often compared with VGRO.TO:
VGRO.TO vs. VEQT.TOVGRO.TO vs. XEQT.TOVGRO.TO vs. VBAL.TOVGRO.TO vs. XGRO.TOVGRO.TO vs. VDY.TOVGRO.TO vs. TGRO.TOVGRO.TO vs. ZGRO.TO

Return for Risk

VCE.TO vs. VGRO.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VCE.TO
VCE.TO Risk / Return Rank: 8080
Overall Rank
VCE.TO Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
VCE.TO Sortino Ratio Rank: 7676
Sortino Ratio Rank
VCE.TO Omega Ratio Rank: 7878
Omega Ratio Rank
VCE.TO Calmar Ratio Rank: 7878
Calmar Ratio Rank
VCE.TO Martin Ratio Rank: 8686
Martin Ratio Rank
VGRO.TO
VGRO.TO Risk / Return Rank: 8181
Overall Rank
VGRO.TO Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
VGRO.TO Sortino Ratio Rank: 8484
Sortino Ratio Rank
VGRO.TO Omega Ratio Rank: 8383
Omega Ratio Rank
VGRO.TO Calmar Ratio Rank: 7474
Calmar Ratio Rank
VGRO.TO Martin Ratio Rank: 8181
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VCE.TO vs. VGRO.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 Growth ETF Portfolio (VGRO.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.TOVGRO.TODifference
Sharpe ratioReturn per unit of total volatility
2.55
2.66

-0.11

Sortino ratioReturn per unit of downside risk
3.38
3.72

-0.34

Omega ratioGain probability vs. loss probability

1.46

1.50

-0.04

Calmar ratioReturn relative to maximum drawdown

3.89

3.65

+0.24

Martin ratioReturn relative to average drawdown

18.14

15.92

+2.22

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VCE.TO vs. VGRO.TO - Sharpe Ratio Comparison

The current VCE.TO Sharpe Ratio is 2.55, which is comparable to the VGRO.TO Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of VCE.TO and VGRO.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

VCE.TOVGRO.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.55

2.66

-0.11

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.16

1.04

+0.12

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.85

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.78

0.82

-0.04

Drawdowns

VCE.TO vs. VGRO.TO - Drawdown Comparison

The maximum VCE.TO drawdown since its inception was -35.92%, which is greater than VGRO.TO's maximum drawdown of -25.36%. Use the drawdown chart below to compare losses from any high point for VCE.TO and VGRO.TO.

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Drawdown Indicators

VCE.TOVGRO.TODifference

Max Drawdown

Largest peak-to-trough decline

-35.92%

-25.36%

-10.56%

Max Drawdown (1Y)

Largest decline over 1 year

-8.09%

-7.01%

-1.08%

Max Drawdown (3Y)

Largest decline over 3 years

-12.16%

-12.50%

+0.34%

Max Drawdown (5Y)

Largest decline over 5 years

-15.90%

-17.39%

+1.49%

Max Drawdown (10Y)

Largest decline over 10 years

-35.92%

—

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-3.73%

-3.41%

-0.32%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.73%

1.60%

+0.13%

Volatility

VCE.TO vs. VGRO.TO - Volatility Comparison

Vanguard FTSE Canada Index ETF (VCE.TO) has a higher volatility of 3.62% compared to Vanguard Growth ETF Portfolio (VGRO.TO) at 3.18%. This indicates that VCE.TO's price experiences larger fluctuations and is considered to be riskier than VGRO.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.TOVGRO.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.62%

3.18%

+0.44%

Volatility (6M)

Calculated over the trailing 6-month period

10.07%

7.88%

+2.19%

Volatility (1Y)

Calculated over the trailing 1-year period

12.36%

9.63%

+2.73%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.79%

10.64%

+2.15%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.99%

12.53%

+2.46%

VCE.TO vs. VGRO.TO - Expense Ratio Comparison

VCE.TO has a 0.06% expense ratio, which is lower than VGRO.TO's 0.20% 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. VGRO.TO - Dividend Comparison

VCE.TO's dividend yield for the trailing twelve months is around 2.14%, more than VGRO.TO's 1.70% yield.

PositionTTM20252024202320222021202020192018201720162015
VCE.TO
Vanguard FTSE Canada Index ETF		2.14%2.42%2.84%3.16%3.21%2.61%2.93%3.01%3.21%2.57%2.64%2.98%
VGRO.TO
Vanguard Growth ETF Portfolio		1.70%1.88%2.01%2.13%2.14%1.80%1.77%2.17%2.09%0.00%0.00%0.00%

Frequently Asked Questions

VCE.TO and VGRO.TO have a correlation of 0.84, 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 0.20% for VGRO.TO.

VCE.TO is categorized as Canada Equities, while VGRO.TO is Diversified Portfolio. Their fees differ too: 0.06% for VCE.TO and 0.20% for VGRO.TO.

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