VCIP.TO vs. XCNS.TO

Last updated Apr 1, 2026

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

VCIP.TO and XCNS.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. XCNS.TO is an actively managed fund by iShares. It was launched on Aug 7, 2019.

Performance

VCIP.TO vs. XCNS.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 Core Conservative Balanced ETF Portfolio (XCNS.TO). The values are adjusted to include any dividend payments, if applicable.

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VCIP.TO Vanguard Conservative Income ETF Portfolio	0.07%	5.91%	6.91%	8.32%	-12.18%	1.42%	8.47%	0.72%
XCNS.TO iShares Core Conservative Balanced ETF Portfolio	0.28%	9.44%	11.73%	10.66%	-11.25%	5.93%	10.28%	3.45%

Returns By Period

In the year-to-date period, VCIP.TO achieves a 0.07% return, which is significantly lower than XCNS.TO's 0.28% 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*: —

XCNS.TO

• 1D: 1.49%
• 1M: -2.82%
• YTD: 0.28%
• 6M: 0.46%
• 1Y: 8.57%
• 3Y*: 9.16%
• 5Y*: 4.95%
• 10Y*: —

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

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

VCIP.TO has a 0.25% expense ratio, which is higher than XCNS.TO's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

VCIP.TO

Vanguard Conservative Income ETF Portfolio

XCNS.TO

iShares Core Conservative Balanced ETF Portfolio

Return for Risk

VCIP.TO vs. XCNS.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

XCNS.TO

XCNS.TO Risk / Return Rank: 65
XCNS.TO Sharpe Ratio Rank: 68
XCNS.TO Sortino Ratio Rank: 64
XCNS.TO Omega Ratio Rank: 65
XCNS.TO Calmar Ratio Rank: 65
XCNS.TO Martin Ratio Rank: 62

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. XCNS.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 Core Conservative Balanced ETF Portfolio (XCNS.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	XCNS.TO	Difference
Sharpe ratio Return per unit of total volatility	0.93	1.14	-0.21
Sortino ratio Return per unit of downside risk	1.26	1.56	-0.30
Omega ratio Gain probability vs. loss probability	1.18	1.23	-0.05
Calmar ratio Return relative to maximum drawdown	1.33	1.58	-0.25
Martin ratio Return relative to average drawdown	4.51	5.83	-1.32
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. XCNS.TO - Sharpe Ratio Comparison

The current VCIP.TO Sharpe Ratio is 0.93, which is comparable to the XCNS.TO Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of VCIP.TO and XCNS.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	XCNS.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.93	1.14	-0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.74	-0.34
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.78	-0.23

Correlation

The correlation between VCIP.TO and XCNS.TO is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

VCIP.TO vs. XCNS.TO - Dividend Comparison

VCIP.TO's dividend yield for the trailing twelve months is around 3.69%, more than XCNS.TO's 2.63% 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%
XCNS.TO iShares Core Conservative Balanced ETF Portfolio	2.63%	2.55%	2.58%	2.49%	2.26%	1.81%	2.15%	0.92%

Drawdowns

VCIP.TO vs. XCNS.TO - Drawdown Comparison

The maximum VCIP.TO drawdown since its inception was -15.87%, smaller than the maximum XCNS.TO drawdown of -16.96%. Use the drawdown chart below to compare losses from any high point for VCIP.TO and XCNS.TO.

Drawdown Indicators

	VCIP.TO	XCNS.TO	Difference
Max Drawdown Largest peak-to-trough decline	-15.87%	-16.96%	+1.09%
Max Drawdown (1Y) Largest decline over 1 year	-3.80%	-5.60%	+1.80%
Max Drawdown (5Y) Largest decline over 5 years	-15.87%	-16.09%	+0.22%
Current Drawdown Current decline from peak	-2.60%	-3.00%	+0.40%
Average Drawdown Average peak-to-trough decline	-3.65%	-3.56%	-0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.12%	1.52%	-0.40%

Volatility

VCIP.TO vs. XCNS.TO - Volatility Comparison

The current volatility for Vanguard Conservative Income ETF Portfolio (VCIP.TO) is 2.42%, while iShares Core Conservative Balanced ETF Portfolio (XCNS.TO) has a volatility of 3.47%. This indicates that VCIP.TO experiences smaller price fluctuations and is considered to be less risky than XCNS.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VCIP.TO	XCNS.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.42%	3.47%	-1.05%
Volatility (6M) Calculated over the trailing 6-month period	3.45%	5.06%	-1.61%
Volatility (1Y) Calculated over the trailing 1-year period	5.02%	7.55%	-2.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.64%	6.72%	-1.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.25%	7.57%	-1.32%