VCIP.TO vs. MFC

Last updated Jun 4, 2026

VCIP.TO (Vanguard Conservative Income ETF Portfolio) is Diversified Portfolio fund actively managed by Vanguard, while MFC (Manulife Financial Corporation) is a stock. Over the past 5 years, VCIP.TO returned 2.56%/yr vs 21.80%/yr for MFC. At a 0.23 correlation, their price movements are largely independent.

Performance

VCIP.TO vs. MFC - Performance Comparison

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

Different Trading Currencies

VCIP.TO is traded in CAD, while MFC is traded in USD. To make them comparable, the MFC 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 3.28% return, which is significantly lower than MFC's 8.61% return.

VCIP.TO

• 1D: -0.24%
• 1M: 2.22%
• YTD: 3.28%
• 6M: 2.14%
• 1Y: 7.45%
• 3Y*: 6.78%
• 5Y*: 2.56%
• 10Y*: —

MFC

• 1D: -0.29%
• 1M: 2.01%
• YTD: 8.61%
• 6M: 10.42%
• 1Y: 25.80%
• 3Y*: 32.89%
• 5Y*: 21.80%
• 10Y*: 16.02%

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

VCIP.TO vs. MFC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VCIP.TO Vanguard Conservative Income ETF Portfolio	3.28%	5.36%	6.89%	8.31%	-12.19%	1.41%	8.46%	7.24%
MFC Manulife Financial Corporation	8.61%	17.31%	58.27%	28.24%	5.86%	11.16%	-8.75%	32.11%

Correlation

The correlation between VCIP.TO and MFC is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (All Time) Calculated using the full available price history since Feb 6, 2019	0.23

The correlation between VCIP.TO and MFC shifts across timeframes, from 0.23 (all time) to 0.42 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

VCIP.TO vs. MFC — 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: 44
VCIP.TO Sharpe Ratio Rank: 45
VCIP.TO Sortino Ratio Rank: 45
VCIP.TO Omega Ratio Rank: 48
VCIP.TO Calmar Ratio Rank: 39
VCIP.TO Martin Ratio Rank: 42

MFC

MFC Risk / Return Rank: 72
MFC Sharpe Ratio Rank: 75
MFC Sortino Ratio Rank: 67
MFC Omega Ratio Rank: 67
MFC Calmar Ratio Rank: 73
MFC Martin Ratio Rank: 75

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. MFC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Conservative Income ETF Portfolio (VCIP.TO) and Manulife Financial Corporation (MFC). 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	MFC	Difference
Sharpe ratio: Return per unit of total volatility	1.59	1.29	+0.30
Sortino ratio: Return per unit of downside risk	2.26	1.73	+0.53
Omega ratio: Gain probability vs. loss probability	1.30	1.23	+0.07
Calmar ratio: Return relative to maximum drawdown	1.97	2.04	-0.07
Martin ratio: Return relative to average drawdown	6.71	6.04	+0.68
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. MFC - Sharpe Ratio Comparison

The current VCIP.TO Sharpe Ratio is 1.59, which is comparable to the MFC Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of VCIP.TO and MFC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VCIP.TO	MFC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	1.29	+0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	1.01	-0.56
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.62	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.39	+0.21

Drawdowns

VCIP.TO vs. MFC - Drawdown Comparison

The maximum VCIP.TO drawdown since its inception was -15.88%, smaller than the maximum MFC drawdown of -57.61%. Use the drawdown chart below to compare losses from any high point for VCIP.TO and MFC.

Drawdown Indicators

	VCIP.TO	MFC	Difference
Max Drawdown Largest peak-to-trough decline	-15.88%	-57.61%	+41.73%
Max Drawdown (1Y) Largest decline over 1 year	-3.80%	-12.71%	+8.91%
Max Drawdown (3Y) Largest decline over 3 years	-4.64%	-17.12%	+12.48%
Max Drawdown (5Y) Largest decline over 5 years	-15.88%	-20.87%	+4.99%
Max Drawdown (10Y) Largest decline over 10 years	—	-52.78%	—
Current Drawdown Current decline from peak	-0.24%	-2.35%	+2.11%
Average Drawdown Average peak-to-trough decline	-3.61%	-15.90%	+12.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.11%	4.28%	-3.17%

Volatility

VCIP.TO vs. MFC - Volatility Comparison

The current volatility for Vanguard Conservative Income ETF Portfolio (VCIP.TO) is 1.86%, while Manulife Financial Corporation (MFC) has a volatility of 8.16%. This indicates that VCIP.TO experiences smaller price fluctuations and is considered to be less risky than MFC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VCIP.TO	MFC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.86%	8.16%	-6.30%
Volatility (6M) Calculated over the trailing 6-month period	3.94%	15.41%	-11.47%
Volatility (1Y) Calculated over the trailing 1-year period	4.70%	20.09%	-15.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.72%	21.64%	-15.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.25%	25.98%	-19.73%

Dividends

VCIP.TO vs. MFC - Dividend Comparison

VCIP.TO's dividend yield for the trailing twelve months is around 2.87%, less than MFC's 3.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MFC Manulife Financial Corporation	3.50%	3.45%	4.16%	4.86%	5.71%	4.91%	4.70%	3.71%	4.08%	3.93%	4.15%	5.38%
VCIP.TO Vanguard Conservative Income ETF Portfolio	2.87%	2.93%	2.89%	2.75%	2.28%	2.22%	1.85%	2.07%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VCIP.TO and MFC in my portfolio?

VCIP.TO and MFC have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.