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VDY.TO vs. VBAL.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VDY.TO vs. VBAL.TO

Last updated Jun 4, 2026

VDY.TO (Vanguard FTSE Canadian High Dividend Yield Index ETF) and VBAL.TO (Vanguard Balanced ETF Portfolio) are both exchange-traded funds - VDY.TO is a Dividend fund tracking the FTSE Canada High Dividend Yield Index, while VBAL.TO is a Diversified Portfolio fund actively managed by Vanguard. VDY.TO is passively managed, while VBAL.TO is actively managed. Over the past 5 years, VDY.TO returned 17.21%/yr vs 7.87%/yr for VBAL.TO. A 0.65 correlation means they provide meaningful diversification when combined. VDY.TO charges 0.22%/yr vs 0.24%/yr for VBAL.TO.

Performance

VDY.TO vs. VBAL.TO - 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 Vanguard Balanced ETF Portfolio (VBAL.TO). 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 20.59% return, which is significantly higher than VBAL.TO's 8.13% return.

VDY.TO

1D
-0.07%
1M
4.52%
YTD
20.59%
6M
22.32%
1Y
46.18%
3Y*
26.00%
5Y*
17.21%
10Y*
14.02%

VBAL.TO

1D
-0.30%
1M
4.26%
YTD
8.13%
6M
6.49%
1Y
18.31%
3Y*
13.79%
5Y*
7.87%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

VDY.TO vs. VBAL.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index ETF		20.59%29.20%20.71%8.40%-0.23%36.78%-1.37%21.43%-8.35%
VBAL.TO
Vanguard Balanced ETF Portfolio		8.13%11.88%14.56%12.43%-11.44%10.16%10.23%14.85%-2.87%

Correlation

The correlation between VDY.TO and VBAL.TO is 0.52, 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

0.52

Correlation (3Y)
Calculated over the trailing 3-year period

0.63

Correlation (5Y)
Calculated over the trailing 5-year period

0.62

Correlation (All Time)
Calculated using the full available price history since Feb 2, 2018

0.65

The correlation between VDY.TO and VBAL.TO shifts across timeframes, from 0.52 (1 year) to 0.65 (all time), reflecting how their relationship changes across market environments.

VDY.TO vs. VBAL.TO - Sectors Allocation Comparison

Sectors
VDY.TO
VBAL.TO

Financial Services

56.0%
20.6%

Energy

30.8%
8.6%

Utilities

4.1%
2.8%

Consumer Cyclical

3.0%
7.9%

Communication Services

2.8%
6.1%

Basic Materials

2.2%
8.5%

Consumer Defensive

0.4%
4.6%

Technology

0.4%
20.4%

Industrials

0.2%
11.6%

Healthcare

0.1%
6.7%

Real Estate

-

2.3%

Financial Services

VDY.TO
56.0%
VBAL.TO
20.6%

Energy

VDY.TO
30.8%
VBAL.TO
8.6%

Utilities

VDY.TO
4.1%
VBAL.TO
2.8%

Consumer Cyclical

VDY.TO
3.0%
VBAL.TO
7.9%

Communication Services

VDY.TO
2.8%
VBAL.TO
6.1%

Basic Materials

VDY.TO
2.2%
VBAL.TO
8.5%

Consumer Defensive

VDY.TO
0.4%
VBAL.TO
4.6%

Technology

VDY.TO
0.4%
VBAL.TO
20.4%

Industrials

VDY.TO
0.2%
VBAL.TO
11.6%

Healthcare

VDY.TO
0.1%
VBAL.TO
6.7%

Real Estate

VDY.TO

-

VBAL.TO
2.3%

Compare stocks, funds, or ETFs

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Vanguard FTSE Canadian High Dividend Yield Index ETF

Vanguard Balanced ETF Portfolio

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 VBAL.TO:
VBAL.TO vs. VGRO.TOVBAL.TO vs. XBAL.TOVBAL.TO vs. VEQT.TOVBAL.TO vs. XEQT.TOVBAL.TO vs. VCNS.TOVBAL.TO vs. VOOVBAL.TO vs. VT

Return for Risk

VDY.TO vs. VBAL.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VDY.TO
VDY.TO Risk / Return Rank: 9898
Overall Rank
VDY.TO Sharpe Ratio Rank: 9898
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: 9898
Calmar Ratio Rank
VDY.TO Martin Ratio Rank: 9898
Martin Ratio Rank
VBAL.TO
VBAL.TO Risk / Return Rank: 6868
Overall Rank
VBAL.TO Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
VBAL.TO Sortino Ratio Rank: 7171
Sortino Ratio Rank
VBAL.TO Omega Ratio Rank: 7171
Omega Ratio Rank
VBAL.TO Calmar Ratio Rank: 6161
Calmar Ratio Rank
VBAL.TO Martin Ratio Rank: 6969
Martin Ratio Rank
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.

VDY.TO vs. VBAL.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 Vanguard Balanced ETF Portfolio (VBAL.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.

VDY.TOVBAL.TODifference
Sharpe ratioReturn per unit of total volatility
5.65
2.30

+3.35

Sortino ratioReturn per unit of downside risk
8.14
3.30

+4.84

Omega ratioGain probability vs. loss probability

2.14

1.44

+0.71

Calmar ratioReturn relative to maximum drawdown

14.88

3.10

+11.78

Martin ratioReturn relative to average drawdown

60.75

13.17

+47.58

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VDY.TO vs. VBAL.TO - Sharpe Ratio Comparison

The current VDY.TO Sharpe Ratio is 5.65, which is higher than the VBAL.TO Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of VDY.TO and VBAL.TO, 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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Sharpe Ratios by Period

VDY.TOVBAL.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

5.65

2.30

+3.35

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.50

0.92

+0.58

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.88

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.84

0.78

+0.07

Drawdowns

VDY.TO vs. VBAL.TO - Drawdown Comparison

The maximum VDY.TO drawdown since its inception was -39.21%, which is greater than VBAL.TO's maximum drawdown of -21.19%. Use the drawdown chart below to compare losses from any high point for VDY.TO and VBAL.TO.

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Drawdown Indicators

VDY.TOVBAL.TODifference

Max Drawdown

Largest peak-to-trough decline

-39.21%

-21.19%

-18.02%

Max Drawdown (1Y)

Largest decline over 1 year

-3.12%

-5.93%

+2.81%

Max Drawdown (3Y)

Largest decline over 3 years

-10.87%

-9.68%

-1.19%

Max Drawdown (5Y)

Largest decline over 5 years

-16.18%

-16.45%

+0.27%

Max Drawdown (10Y)

Largest decline over 10 years

-39.21%

—

—

Current Drawdown

Current decline from peak

-0.77%

-0.30%

-0.47%

Average Drawdown

Average peak-to-trough decline

-4.61%

-3.17%

-1.44%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.76%

1.39%

-0.63%

Volatility

VDY.TO vs. VBAL.TO - Volatility Comparison

Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) has a higher volatility of 3.31% compared to Vanguard Balanced ETF Portfolio (VBAL.TO) at 2.73%. This indicates that VDY.TO's price experiences larger fluctuations and is considered to be riskier than VBAL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VDY.TOVBAL.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.31%

2.73%

+0.58%

Volatility (6M)

Calculated over the trailing 6-month period

6.87%

6.59%

+0.28%

Volatility (1Y)

Calculated over the trailing 1-year period

8.21%

7.99%

+0.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.56%

8.63%

+2.93%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.96%

10.09%

+5.87%

VDY.TO vs. VBAL.TO - Expense Ratio Comparison

VDY.TO has a 0.22% expense ratio, which is lower than VBAL.TO's 0.24% 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

VDY.TO vs. VBAL.TO - Dividend Comparison

VDY.TO's dividend yield for the trailing twelve months is around 2.90%, more than VBAL.TO's 2.05% yield.

PositionTTM20252024202320222021202020192018201720162015
VBAL.TO
Vanguard Balanced ETF Portfolio		2.05%2.21%2.26%2.32%2.16%1.91%1.79%2.20%1.99%0.00%0.00%0.00%
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index ETF		2.90%3.59%4.40%4.64%4.42%3.58%4.59%4.25%4.43%3.82%3.25%4.11%

Frequently Asked Questions

VDY.TO and VBAL.TO have a correlation of 0.52, 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 0.24% for VBAL.TO.

VDY.TO is categorized as Dividend, while VBAL.TO is Diversified Portfolio. Their fees differ too: 0.22% for VDY.TO and 0.24% for VBAL.TO.

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