VDY.TO vs. FIE.TO
VDY.TO (Vanguard FTSE Canadian High Dividend Yield Index ETF) and FIE.TO (iShares Canadian Financial Monthly Income ETF) are both exchange-traded funds - VDY.TO is a Dividend fund tracking the FTSE Canada High Dividend Yield Index, while FIE.TO is a Canada Equities fund tracking the Morningstar Can Equity Tgt Alloc NR CAD. Both are passively managed. Over the past 10 years, VDY.TO returned 14.58%/yr vs 11.99%/yr for FIE.TO. Their correlation of 0.84 suggests significant overlap in exposure. VDY.TO charges 0.22%/yr vs 0.85%/yr for FIE.TO.
Performance
VDY.TO vs. FIE.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VDY.TO achieves a 23.81% return, which is significantly higher than FIE.TO's 12.21% return. Over the past 10 years, VDY.TO has outperformed FIE.TO with an annualized return of 14.58%, while FIE.TO has yielded a comparatively lower 11.99% annualized return.
VDY.TO
- 1D
- 0.65%
- 1M
- 5.11%
- YTD
- 23.81%
- 6M
- 23.43%
- 1Y
- 49.57%
- 3Y*
- 27.42%
- 5Y*
- 17.91%
- 10Y*
- 14.58%
FIE.TO
- 1D
- 0.64%
- 1M
- 5.26%
- YTD
- 12.21%
- 6M
- 10.27%
- 1Y
- 31.71%
- 3Y*
- 24.56%
- 5Y*
- 12.62%
- 10Y*
- 11.99%
VDY.TO vs. FIE.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VDY.TO Vanguard FTSE Canadian High Dividend Yield Index ETF | 23.81% | 29.21% | 21.44% | 8.41% | -0.23% | 36.60% | -1.37% | 21.42% | -10.09% | 8.32% |
FIE.TO iShares Canadian Financial Monthly Income ETF | 12.21% | 24.36% | 27.62% | 12.58% | -14.35% | 27.34% | 1.33% | 18.97% | -9.12% | 12.01% |
Correlation
The correlation between VDY.TO and FIE.TO is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2012 | 0.84 |
The correlation between VDY.TO and FIE.TO shifts across timeframes, from 0.67 (1 year) to 0.84 (all time), reflecting how their relationship changes across market environments.
VDY.TO vs. FIE.TO - Sectors Allocation Comparison
Sectors
VDY.TO
FIE.TO
Financial Services
Energy
-
Utilities
-
Consumer Cyclical
-
Communication Services
-
Basic Materials
-
Consumer Defensive
-
Technology
-
Industrials
-
Healthcare
-
Real Estate
-
Financial Services
VDY.TO
FIE.TO
Energy
VDY.TO
FIE.TO
-
Utilities
VDY.TO
FIE.TO
-
Consumer Cyclical
VDY.TO
FIE.TO
-
Communication Services
VDY.TO
FIE.TO
-
Basic Materials
VDY.TO
FIE.TO
-
Consumer Defensive
VDY.TO
FIE.TO
-
Technology
VDY.TO
FIE.TO
-
Industrials
VDY.TO
FIE.TO
-
Healthcare
VDY.TO
FIE.TO
-
Real Estate
VDY.TO
-
FIE.TO
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VDY.TO vs. FIE.TO — Risk / Return Rank
VDY.TO
FIE.TO
VDY.TO vs. FIE.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) and iShares Canadian Financial Monthly Income ETF (FIE.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.
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.
| VDY.TO | FIE.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.54 | ||
| Sortino ratioReturn per unit of downside risk | +3.93 | ||
| Omega ratioGain probability vs. loss probability | 2.21 | 1.67 | +0.54 |
| Calmar ratioReturn relative to maximum drawdown | 15.94 | 4.32 | +11.62 |
| Martin ratioReturn relative to average drawdown | 64.95 | 14.05 | +50.90 |
Loading charts...
Drawdowns
VDY.TO vs. FIE.TO - Drawdown Comparison
The maximum VDY.TO drawdown since its inception was -39.21%, smaller than the maximum FIE.TO drawdown of -42.24%. Use the drawdown chart below to compare losses from any high point for VDY.TO and FIE.TO.
Loading charts...
Drawdown Indicators
| VDY.TO | FIE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.21% | -42.24% | +3.03% |
Max Drawdown (1Y)Largest decline over 1 year | -3.12% | -7.19% | +4.07% |
Max Drawdown (3Y)Largest decline over 3 years | -10.38% | -10.70% | +0.32% |
Max Drawdown (5Y)Largest decline over 5 years | -16.17% | -22.93% | +6.76% |
Max Drawdown (10Y)Largest decline over 10 years | -39.21% | -42.24% | +3.03% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -4.47% | -4.89% | +0.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | 2.21% | -1.45% |
Volatility
VDY.TO vs. FIE.TO - Volatility Comparison
Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) has a higher volatility of 3.27% compared to iShares Canadian Financial Monthly Income ETF (FIE.TO) at 2.93%. This indicates that VDY.TO's price experiences larger fluctuations and is considered to be riskier than FIE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VDY.TO | FIE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.27% | 2.93% | +0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 6.96% | 7.86% | -0.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.32% | 9.04% | -0.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.58% | 10.56% | +1.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.95% | 14.08% | +1.87% |
VDY.TO vs. FIE.TO - Expense Ratio Comparison
VDY.TO has a 0.22% expense ratio, which is lower than FIE.TO's 0.85% expense ratio.
Dividends
VDY.TO vs. FIE.TO - Dividend Comparison
VDY.TO's dividend yield for the trailing twelve months is around 2.83%, less than FIE.TO's 4.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIE.TO iShares Canadian Financial Monthly Income ETF | 4.44% | 4.94% | 5.83% | 6.98% | 7.31% | 5.92% | 7.10% | 6.65% | 7.38% | 6.28% | 6.59% | 7.43% |
VDY.TO Vanguard FTSE Canadian High Dividend Yield Index ETF | 2.83% | 3.59% | 4.37% | 4.64% | 4.42% | 3.46% | 4.59% | 4.25% | 4.44% | 3.42% | 3.25% | 4.11% |
Frequently Asked Questions
VDY.TO and FIE.TO have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VDY.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VDY.TO is cheaper with a 0.22% expense ratio, compared with 0.85% for FIE.TO.
VDY.TO is categorized as Dividend, while FIE.TO is Canada Equities. VDY.TO tracks FTSE Canada High Dividend Yield Index, while FIE.TO tracks Morningstar Can Equity Tgt Alloc NR CAD. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.22% for VDY.TO and 0.85% for FIE.TO.
Find the right allocation for VDY.TO and FIE.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer