VCIP.TO vs. GCNS.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Conservative Income ETF Portfolio (VCIP.TO) and iShares ESG Conservative Balanced ETF Portfolio (GCNS.TO).

VCIP.TO and GCNS.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VCIP.TO is an actively managed fund by Vanguard. It was launched on Jan 29, 2019. GCNS.TO is an actively managed fund by iShares. It was launched on Sep 2, 2020.

Performance

VCIP.TO vs. GCNS.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard Conservative Income ETF Portfolio (VCIP.TO) and iShares ESG Conservative Balanced ETF Portfolio (GCNS.TO). The values are adjusted to include any dividend payments, if applicable.

VCIP.TO vs. GCNS.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
VCIP.TO Vanguard Conservative Income ETF Portfolio	0.07%	5.91%	6.91%	8.32%	-12.18%	1.42%	2.65%
GCNS.TO iShares ESG Conservative Balanced ETF Portfolio	-2.08%	7.23%	15.54%	11.66%	-10.94%	8.07%	4.37%

Returns By Period

In the year-to-date period, VCIP.TO achieves a 0.07% return, which is significantly higher than GCNS.TO's -2.08% return.

VCIP.TO

• 1D: 0.00%
• 1M: -2.60%
• YTD: 0.07%
• 6M: 0.52%
• 1Y: 5.06%
• 3Y*: 5.74%
• 5Y*: 2.22%
• 10Y*: —

GCNS.TO

• 1D: 0.40%
• 1M: -4.37%
• YTD: -2.08%
• 6M: -2.07%
• 1Y: 6.64%
• 3Y*: 9.17%
• 5Y*: 5.39%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

VCIP.TO vs. GCNS.TO - Expense Ratio Comparison

Both VCIP.TO and GCNS.TO have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

VCIP.TO

Vanguard Conservative Income ETF Portfolio

GCNS.TO

iShares ESG Conservative Balanced ETF Portfolio

Return for Risk

VCIP.TO vs. GCNS.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VCIP.TO

VCIP.TO Risk / Return Rank: 50
VCIP.TO Sharpe Ratio Rank: 52
VCIP.TO Sortino Ratio Rank: 47
VCIP.TO Omega Ratio Rank: 49
VCIP.TO Calmar Ratio Rank: 53
VCIP.TO Martin Ratio Rank: 47

GCNS.TO

GCNS.TO Risk / Return Rank: 39
GCNS.TO Sharpe Ratio Rank: 35
GCNS.TO Sortino Ratio Rank: 32
GCNS.TO Omega Ratio Rank: 39
GCNS.TO Calmar Ratio Rank: 47
GCNS.TO Martin Ratio Rank: 41

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.

VCIP.TO vs. GCNS.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Conservative Income ETF Portfolio (VCIP.TO) and iShares ESG Conservative Balanced ETF Portfolio (GCNS.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.

	VCIP.TO	GCNS.TO	Difference
Sharpe ratio Return per unit of total volatility	0.93	0.65	+0.29
Sortino ratio Return per unit of downside risk	1.26	0.93	+0.33
Omega ratio Gain probability vs. loss probability	1.18	1.15	+0.03
Calmar ratio Return relative to maximum drawdown	1.33	1.22	+0.12
Martin ratio Return relative to average drawdown	4.51	3.91	+0.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VCIP.TO vs. GCNS.TO - Sharpe Ratio Comparison

The current VCIP.TO Sharpe Ratio is 0.93, which is higher than the GCNS.TO Sharpe Ratio of 0.65. The chart below compares the historical Sharpe Ratios of VCIP.TO and GCNS.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VCIP.TO	GCNS.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.93	0.65	+0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.67	-0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.74	-0.19

Correlation

The correlation between VCIP.TO and GCNS.TO is 0.26, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

VCIP.TO vs. GCNS.TO - Dividend Comparison

VCIP.TO's dividend yield for the trailing twelve months is around 3.69%, more than GCNS.TO's 2.16% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
VCIP.TO Vanguard Conservative Income ETF Portfolio	3.69%	2.93%	2.90%	2.77%	2.29%	2.23%	1.86%	2.08%
GCNS.TO iShares ESG Conservative Balanced ETF Portfolio	2.16%	2.07%	2.03%	2.88%	2.09%	1.60%	2.49%	0.00%

Drawdowns

VCIP.TO vs. GCNS.TO - Drawdown Comparison

The maximum VCIP.TO drawdown since its inception was -15.87%, roughly equal to the maximum GCNS.TO drawdown of -15.37%. Use the drawdown chart below to compare losses from any high point for VCIP.TO and GCNS.TO.

Drawdown Indicators

	VCIP.TO	GCNS.TO	Difference
Max Drawdown Largest peak-to-trough decline	-15.87%	-15.37%	-0.50%
Max Drawdown (1Y) Largest decline over 1 year	-3.80%	-5.05%	+1.25%
Max Drawdown (5Y) Largest decline over 5 years	-15.87%	-15.37%	-0.50%
Current Drawdown Current decline from peak	-2.60%	-4.43%	+1.83%
Average Drawdown Average peak-to-trough decline	-3.65%	-3.65%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.12%	1.57%	-0.45%

Volatility

VCIP.TO vs. GCNS.TO - Volatility Comparison

Vanguard Conservative Income ETF Portfolio (VCIP.TO) and iShares ESG Conservative Balanced ETF Portfolio (GCNS.TO) have volatilities of 2.42% and 2.36%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VCIP.TO	GCNS.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.42%	2.36%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	3.45%	4.91%	-1.46%
Volatility (1Y) Calculated over the trailing 1-year period	5.02%	9.58%	-4.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.64%	8.07%	-2.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.25%	7.80%	-1.55%