VCN.TO vs. XFR.TO
VCN.TO (Vanguard FTSE Canada All Cap Index ETF) and XFR.TO (iShares Floating Rate Index ETF) are both exchange-traded funds - VCN.TO is a Canada Equities fund tracking the FTSE Canada All Cap Domestic Index, while XFR.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD. Both are passively managed. Over the past 10 years, VCN.TO returned 12.51%/yr vs 2.25%/yr for XFR.TO. At a 0.02 correlation, their price movements are largely independent. VCN.TO charges 0.06%/yr vs 0.14%/yr for XFR.TO.
Performance
VCN.TO vs. XFR.TO - Performance Comparison
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Returns By Period
In the year-to-date period, VCN.TO achieves a 11.80% return, which is significantly higher than XFR.TO's 1.02% return. Over the past 10 years, VCN.TO has outperformed XFR.TO with an annualized return of 12.51%, while XFR.TO has yielded a comparatively lower 2.25% annualized return.
VCN.TO
- 1D
- 1.20%
- 1M
- 5.07%
- YTD
- 11.80%
- 6M
- 12.19%
- 1Y
- 35.18%
- 3Y*
- 24.11%
- 5Y*
- 15.12%
- 10Y*
- 12.51%
XFR.TO
- 1D
- 0.02%
- 1M
- 0.18%
- YTD
- 1.02%
- 6M
- 1.35%
- 1Y
- 2.94%
- 3Y*
- 3.99%
- 5Y*
- 3.21%
- 10Y*
- 2.25%
VCN.TO vs. XFR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VCN.TO Vanguard FTSE Canada All Cap Index ETF | 11.80% | 30.20% | 22.14% | 12.26% | -5.78% | 25.63% | 4.81% | 22.06% | -9.11% | 8.44% |
XFR.TO iShares Floating Rate Index ETF | 1.02% | 3.33% | 4.57% | 5.29% | 1.82% | 0.15% | 0.98% | 2.23% | 1.16% | 1.46% |
Correlation
The correlation between VCN.TO and XFR.TO is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Aug 14, 2013 | 0.02 |
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Return for Risk
VCN.TO vs. XFR.TO — Risk / Return Rank
VCN.TO
XFR.TO
VCN.TO vs. XFR.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Canada All Cap Index ETF (VCN.TO) and iShares Floating Rate Index ETF (XFR.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.
| VCN.TO | XFR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.29 | ||
| Sortino ratioReturn per unit of downside risk | -3.30 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.96 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | 3.88 | 29.53 | -25.65 |
| Martin ratioReturn relative to average drawdown | 18.13 | 87.75 | -69.62 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VCN.TO | XFR.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.80 | 4.09 | -1.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.17 | 3.93 | -2.76 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.84 | 1.22 | -0.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.78 | 1.19 | -0.41 |
Drawdowns
VCN.TO vs. XFR.TO - Drawdown Comparison
The maximum VCN.TO drawdown since its inception was -37.32%, which is greater than XFR.TO's maximum drawdown of -4.12%. Use the drawdown chart below to compare losses from any high point for VCN.TO and XFR.TO.
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Drawdown Indicators
| VCN.TO | XFR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.32% | -4.12% | -33.20% |
Max Drawdown (1Y)Largest decline over 1 year | -9.11% | -0.10% | -9.01% |
Max Drawdown (3Y)Largest decline over 3 years | -12.24% | -0.30% | -11.94% |
Max Drawdown (5Y)Largest decline over 5 years | -16.12% | -0.30% | -15.82% |
Max Drawdown (10Y)Largest decline over 10 years | -37.32% | -4.12% | -33.20% |
Current DrawdownCurrent decline from peak | 0.00% | -0.02% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -3.90% | -0.06% | -3.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.95% | 0.03% | +1.92% |
Volatility
VCN.TO vs. XFR.TO - Volatility Comparison
Vanguard FTSE Canada All Cap Index ETF (VCN.TO) has a higher volatility of 3.54% compared to iShares Floating Rate Index ETF (XFR.TO) at 0.18%. This indicates that VCN.TO's price experiences larger fluctuations and is considered to be riskier than XFR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCN.TO | XFR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.54% | 0.18% | +3.36% |
Volatility (6M)Calculated over the trailing 6-month period | 10.32% | 0.47% | +9.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.62% | 0.72% | +11.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.04% | 0.82% | +12.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.98% | 1.85% | +13.13% |
VCN.TO vs. XFR.TO - Expense Ratio Comparison
VCN.TO has a 0.06% expense ratio, which is lower than XFR.TO's 0.14% 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
VCN.TO vs. XFR.TO - Dividend Comparison
VCN.TO's dividend yield for the trailing twelve months is around 1.98%, less than XFR.TO's 2.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VCN.TO Vanguard FTSE Canada All Cap Index ETF | 1.98% | 2.27% | 2.69% | 2.99% | 3.15% | 2.48% | 2.70% | 2.85% | 2.80% | 2.29% | 2.34% | 2.65% |
XFR.TO iShares Floating Rate Index ETF | 2.77% | 3.23% | 4.93% | 4.91% | 1.85% | 0.30% | 1.07% | 1.96% | 1.60% | 0.95% | 0.77% | 0.94% |
Frequently Asked Questions
VCN.TO and XFR.TO have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VCN.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VCN.TO is cheaper with a 0.06% expense ratio, compared with 0.14% for XFR.TO.
VCN.TO is categorized as Canada Equities, while XFR.TO is Canadian Government Bonds. VCN.TO tracks FTSE Canada All Cap Domestic Index, while XFR.TO tracks Morningstar Can 1-5Y Core Bd GR CAD. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.06% for VCN.TO and 0.14% for XFR.TO.
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