VCIP.TO vs. IAU
VCIP.TO (Vanguard Conservative Income ETF Portfolio) and IAU (iShares Gold Trust) are both exchange-traded funds - VCIP.TO is a Diversified Portfolio fund actively managed by Vanguard, while IAU is a Gold fund tracking the LBMA Gold Price. VCIP.TO is actively managed, while IAU is passively managed. Over the past 5 years, VCIP.TO returned 2.63%/yr vs 20.61%/yr for IAU. At a 0.27 correlation, their price movements are largely independent. Both charge a 0.25% expense ratio.
Performance
VCIP.TO vs. IAU - Performance Comparison
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Different Trading Currencies
VCIP.TO is traded in CAD, while IAU is traded in USD. To make them comparable, the IAU values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, VCIP.TO achieves a 3.72% return, which is significantly higher than IAU's -4.14% return.
VCIP.TO
- 1D
- 0.14%
- 1M
- 0.58%
- YTD
- 3.72%
- 6M
- 3.44%
- 1Y
- 7.73%
- 3Y*
- 7.33%
- 5Y*
- 2.63%
- 10Y*
- —
IAU
- 1D
- -2.68%
- 1M
- -8.80%
- YTD
- -4.14%
- 6M
- -7.68%
- 1Y
- 23.83%
- 3Y*
- 30.65%
- 5Y*
- 20.61%
- 10Y*
- 12.56%
VCIP.TO vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VCIP.TO Vanguard Conservative Income ETF Portfolio | 3.72% | 5.91% | 6.91% | 8.32% | -12.18% | 1.43% | 8.47% | 7.38% |
IAU iShares Gold Trust | -4.14% | 56.46% | 37.59% | 10.15% | 5.66% | -4.05% | 22.07% | 15.11% |
Correlation
The correlation between VCIP.TO and IAU is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2019 | 0.27 |
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Return for Risk
VCIP.TO vs. IAU — Risk / Return Rank
VCIP.TO
IAU
VCIP.TO vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Conservative Income ETF Portfolio (VCIP.TO) and iShares Gold Trust (IAU). 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.
| VCIP.TO | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.18 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.04 | 1.06 | +0.98 |
| Martin ratioReturn relative to average drawdown | 7.19 | 2.85 | +4.34 |
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Drawdowns
VCIP.TO vs. IAU - Drawdown Comparison
The maximum VCIP.TO drawdown since its inception was -15.86%, smaller than the maximum IAU drawdown of -33.49%. Use the drawdown chart below to compare losses from any high point for VCIP.TO and IAU.
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Drawdown Indicators
| VCIP.TO | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.86% | -33.49% | +17.63% |
Max Drawdown (1Y)Largest decline over 1 year | -3.80% | -22.57% | +18.77% |
Max Drawdown (3Y)Largest decline over 3 years | -4.63% | -22.57% | +17.94% |
Max Drawdown (5Y)Largest decline over 5 years | -15.86% | -22.57% | +6.71% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.85% | — |
Current DrawdownCurrent decline from peak | -0.18% | -22.57% | +22.39% |
Average DrawdownAverage peak-to-trough decline | -3.56% | -10.65% | +7.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 8.39% | -7.31% |
Volatility
VCIP.TO vs. IAU - Volatility Comparison
The current volatility for Vanguard Conservative Income ETF Portfolio (VCIP.TO) is 1.44%, while iShares Gold Trust (IAU) has a volatility of 8.52%. This indicates that VCIP.TO experiences smaller price fluctuations and is considered to be less risky than IAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCIP.TO | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.44% | 8.52% | -7.08% |
Volatility (6M)Calculated over the trailing 6-month period | 4.00% | 24.31% | -20.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.78% | 27.49% | -22.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.73% | 19.14% | -13.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.23% | 17.21% | -10.98% |
VCIP.TO vs. IAU - Expense Ratio Comparison
Both VCIP.TO and IAU 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%.
Dividends
VCIP.TO vs. IAU - Dividend Comparison
VCIP.TO's dividend yield for the trailing twelve months is around 2.86%, while IAU has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
IAU iShares Gold Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VCIP.TO Vanguard Conservative Income ETF Portfolio | 2.86% | 2.93% | 2.90% | 2.77% | 2.29% | 2.23% | 1.86% | 2.08% |
Frequently Asked Questions
VCIP.TO and IAU have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
VCIP.TO and IAU have the same expense ratio: 0.25% per year.
VCIP.TO is categorized as Diversified Portfolio, while IAU is Gold. They also come from different issuers: Vanguard and iShares.
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