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VDY.TO vs. FLVC.NEO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VDY.TO vs. FLVC.NEO

Last updated Aug 2, 2026
Documentation

VDY.TO (Vanguard FTSE Canadian High Dividend Yield Index ETF) and FLVC.NEO (Franklin Canadian Low Volatility High Dividend Index ETF) are both exchange-traded funds - VDY.TO is a Dividend fund tracking the FTSE Canada High Dividend Yield Index, while FLVC.NEO is a Canada Equities fund tracking the Franklin Canadian Low Volatility High Dividend Index. Both are passively managed. Over the past year, VDY.TO returned 52.46% vs 36.38% for FLVC.NEO. Their 0.50 correlation means they have sometimes moved together and sometimes differently. VDY.TO charges 0.22%/yr vs 0.15%/yr for FLVC.NEO.

Performance

VDY.TO vs. FLVC.NEO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) and Franklin Canadian Low Volatility High Dividend Index ETF (FLVC.NEO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VDY.TO achieves a 28.99% return, which is significantly higher than FLVC.NEO's 21.78% return.

VDY.TO

1D
-0.14%
1M
3.60%
6M
26.36%
YTD
28.99%
1Y
52.46%
3Y*
28.21%
5Y*
19.25%
10Y*
14.82%
ALL TIME*
13.17%

FLVC.NEO

1D
0.33%
1M
3.35%
6M
23.34%
YTD
21.78%
1Y
36.38%
3Y*
—
5Y*
—
10Y*
—
ALL TIME*
24.74%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

FLVC.NEO

Franklin Canadian Low Volatility High Dividend Index ETF
CA$134.83KCA$145.15KCA$488.47K

VDY.TO

Vanguard FTSE Canadian High Dividend Yield Index ETF
CA$16.58MCA$18.51MCA$18.79M

VDY.TO vs. FLVC.NEO - Yearly Performance Comparison

2026 (YTD)20252024
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index ETF		28.99%29.21%16.70%
FLVC.NEO
Franklin Canadian Low Volatility High Dividend Index ETF		21.78%21.15%13.79%

Correlation

The correlation between VDY.TO and FLVC.NEO is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.66

Correlation (All Time)
Calculated using the full available price history since Mar 27, 2024

0.50

The correlation between VDY.TO and FLVC.NEO shifts across timeframes, from 0.50 (all time) to 0.66 (1 year), reflecting how their relationship changes across market environments.

VDY.TO vs. FLVC.NEO - Sectors Allocation Comparison

Sectors
VDY.TO
FLVC.NEO

Financial Services

60.7%
43.0%

Energy

27.3%
8.8%

Utilities

3.9%
10.8%

Consumer Cyclical

2.8%
7.0%

Communication Services

2.6%
7.5%

Basic Materials

1.8%
0.4%

Technology

0.4%
2.0%

Consumer Defensive

0.3%
6.9%

Industrials

0.2%
13.7%

Healthcare

0.1%

-

Real Estate

-

-

Financial Services

VDY.TO
60.7%
FLVC.NEO
43.0%

Energy

VDY.TO
27.3%
FLVC.NEO
8.8%

Utilities

VDY.TO
3.9%
FLVC.NEO
10.8%

Consumer Cyclical

VDY.TO
2.8%
FLVC.NEO
7.0%

Communication Services

VDY.TO
2.6%
FLVC.NEO
7.5%

Basic Materials

VDY.TO
1.8%
FLVC.NEO
0.4%

Technology

VDY.TO
0.4%
FLVC.NEO
2.0%

Consumer Defensive

VDY.TO
0.3%
FLVC.NEO
6.9%

Industrials

VDY.TO
0.2%
FLVC.NEO
13.7%

Healthcare

VDY.TO
0.1%
FLVC.NEO

-

Real Estate

VDY.TO

-

FLVC.NEO

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard FTSE Canadian High Dividend Yield Index ETF

Franklin Canadian Low Volatility High Dividend Index ETF

Often compared with VDY.TO:
VDY.TO vs. XEI.TOVDY.TO vs. XDIV.TOVDY.TO vs. VCN.TOVDY.TO vs. SCHDVDY.TO vs. XIC.TOVDY.TO vs. VCE.TOVDY.TO vs. ZDV.TO
Often compared with FLVC.NEO:
FLVC.NEO vs. FCRI.TOFLVC.NEO vs. XCV.TOFLVC.NEO vs. FLVI.NEOFLVC.NEO vs. QCE.TOFLVC.NEO vs. CBNK.TOFLVC.NEO vs. DMEC.TOFLVC.NEO vs. FCMI.TO

Return for Risk

VDY.TO vs. FLVC.NEO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
VDY.TO
VDY.TO Risk / Return Rank: 9999
Overall Rank
VDY.TO Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
VDY.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
VDY.TO Omega Ratio Rank: 9898
Omega Ratio Rank
VDY.TO Calmar Ratio Rank: 9999
Calmar Ratio Rank
VDY.TO Martin Ratio Rank: 9999
Martin Ratio Rank
FLVC.NEO
FLVC.NEO Risk / Return Rank: 9898
Overall Rank
FLVC.NEO Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
FLVC.NEO Sortino Ratio Rank: 9898
Sortino Ratio Rank
FLVC.NEO Omega Ratio Rank: 9898
Omega Ratio Rank
FLVC.NEO Calmar Ratio Rank: 9898
Calmar Ratio Rank
FLVC.NEO Martin Ratio Rank: 9898
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VDY.TO vs. FLVC.NEO - 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 Franklin Canadian Low Volatility High Dividend Index ETF (FLVC.NEO). 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.TOFLVC.NEODifference
Sharpe ratioReturn per unit of total volatility
5.85
5.06

+0.79

Sortino ratioReturn per unit of downside risk
8.07
7.66

+0.41

Omega ratioGain probability vs. loss probability

2.13

2.02

+0.11

Calmar ratioReturn relative to maximum drawdown

16.61

12.45

+4.15

Martin ratioReturn relative to average drawdown

66.25

55.03

+11.22

VDY.TO vs. FLVC.NEO - Sharpe Ratio Comparison

The current VDY.TO Sharpe Ratio is 5.85, which is comparable to the FLVC.NEO Sharpe Ratio of 5.06. The chart below compares the historical Sharpe Ratios of VDY.TO and FLVC.NEO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

VDY.TO vs. FLVC.NEO - Drawdown Comparison

The maximum VDY.TO drawdown since its inception was -39.21%, which is greater than FLVC.NEO's maximum drawdown of -7.89%. Use the drawdown chart below to compare losses from any high point for VDY.TO and FLVC.NEO.

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Drawdown Indicators

VDY.TOFLVC.NEODifference

Max Drawdown

Largest peak-to-trough decline

-39.21%

-7.89%

-31.32%

Max Drawdown (1Y)

Largest decline over 1 year

-3.12%

-3.21%

+0.09%

Max Drawdown (3Y)

Largest decline over 3 years

-10.38%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-16.17%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-39.21%

—

—

Current Drawdown

Current decline from peak

-0.47%

-0.50%

+0.03%

Average Drawdown

Average peak-to-trough decline

-4.43%

-0.80%

-3.63%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.78%

0.71%

+0.07%

Volatility

VDY.TO vs. FLVC.NEO - Volatility Comparison

Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) has a higher volatility of 3.18% compared to Franklin Canadian Low Volatility High Dividend Index ETF (FLVC.NEO) at 2.84%. This indicates that VDY.TO's price experiences larger fluctuations and is considered to be riskier than FLVC.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VDY.TOFLVC.NEODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.18%

2.84%

+0.34%

Volatility (6M)

Calculated over the trailing 6-month period

7.08%

5.74%

+1.34%

Volatility (1Y)

Calculated over the trailing 1-year period

8.86%

7.91%

+0.95%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.57%

11.38%

+0.19%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.92%

11.38%

+4.54%

VDY.TO vs. FLVC.NEO - Expense Ratio Comparison

VDY.TO has a 0.22% expense ratio, which is higher than FLVC.NEO's 0.15% 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%.

Dividends

VDY.TO vs. FLVC.NEO - Dividend Comparison

VDY.TO's dividend yield for the trailing twelve months is around 2.99%, less than FLVC.NEO's 4.70% yield.

PositionTTM20252024202320222021202020192018201720162015
FLVC.NEO
Franklin Canadian Low Volatility High Dividend Index ETF		4.70%4.96%0.95%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index ETF		2.79%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 FLVC.NEO have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, FLVC.NEO is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

FLVC.NEO is cheaper with a 0.15% expense ratio, compared with 0.22% for VDY.TO.

VDY.TO is categorized as Dividend, while FLVC.NEO is Canada Equities. VDY.TO tracks FTSE Canada High Dividend Yield Index, while FLVC.NEO tracks Franklin Canadian Low Volatility High Dividend Index. They also come from different issuers: Vanguard and Franklin Templeton. Their fees differ too: 0.22% for VDY.TO and 0.15% for FLVC.NEO.

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