VDY.TO vs. XBAL.TO
VDY.TO (Vanguard FTSE Canadian High Dividend Yield Index ETF) and XBAL.TO (iShares Core Balanced ETF Portfolio) are both exchange-traded funds - VDY.TO is a Dividend fund tracking the FTSE Canada High Dividend Yield Index, while XBAL.TO is a Diversified Portfolio fund actively managed by iShares. VDY.TO is passively managed, while XBAL.TO is actively managed. Over the past 10 years, VDY.TO returned 14.58%/yr vs 7.66%/yr for XBAL.TO. A 0.55 correlation means they provide meaningful diversification when combined. VDY.TO charges 0.22%/yr vs 0.20%/yr for XBAL.TO.
Performance
VDY.TO vs. XBAL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, VDY.TO achieves a 23.81% return, which is significantly higher than XBAL.TO's 7.90% return. Over the past 10 years, VDY.TO has outperformed XBAL.TO with an annualized return of 14.58%, while XBAL.TO has yielded a comparatively lower 7.66% 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%
XBAL.TO
- 1D
- 0.53%
- 1M
- 2.87%
- YTD
- 7.90%
- 6M
- 6.86%
- 1Y
- 18.03%
- 3Y*
- 14.22%
- 5Y*
- 8.02%
- 10Y*
- 7.66%
VDY.TO vs. XBAL.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% |
XBAL.TO iShares Core Balanced ETF Portfolio | 7.90% | 11.90% | 15.80% | 13.05% | -11.16% | 10.16% | 10.73% | 15.34% | -2.73% | 5.55% |
Correlation
The correlation between VDY.TO and XBAL.TO is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2012 | 0.55 |
The correlation between VDY.TO and XBAL.TO shifts across timeframes, from 0.51 (1 year) to 0.61 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VDY.TO vs. XBAL.TO — Risk / Return Rank
VDY.TO
XBAL.TO
VDY.TO vs. XBAL.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 Core Balanced ETF Portfolio (XBAL.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 | XBAL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.02 | ||
| Sortino ratioReturn per unit of downside risk | +5.83 | ||
| Omega ratioGain probability vs. loss probability | 2.21 | 1.36 | +0.85 |
| Calmar ratioReturn relative to maximum drawdown | 15.94 | 2.84 | +13.10 |
| Martin ratioReturn relative to average drawdown | 64.95 | 11.82 | +53.12 |
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Drawdowns
VDY.TO vs. XBAL.TO - Drawdown Comparison
The maximum VDY.TO drawdown since its inception was -39.21%, which is greater than XBAL.TO's maximum drawdown of -28.55%. Use the drawdown chart below to compare losses from any high point for VDY.TO and XBAL.TO.
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Drawdown Indicators
| VDY.TO | XBAL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.21% | -28.55% | -10.66% |
Max Drawdown (1Y)Largest decline over 1 year | -3.12% | -6.06% | +2.94% |
Max Drawdown (3Y)Largest decline over 3 years | -10.38% | -9.34% | -1.04% |
Max Drawdown (5Y)Largest decline over 5 years | -16.17% | -17.10% | +0.93% |
Max Drawdown (10Y)Largest decline over 10 years | -39.21% | -20.93% | -18.28% |
Current DrawdownCurrent decline from peak | 0.00% | -0.36% | +0.36% |
Average DrawdownAverage peak-to-trough decline | -4.47% | -3.35% | -1.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | 1.46% | -0.70% |
Volatility
VDY.TO vs. XBAL.TO - Volatility Comparison
The current volatility for Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) is 3.27%, while iShares Core Balanced ETF Portfolio (XBAL.TO) has a volatility of 3.49%. This indicates that VDY.TO experiences smaller price fluctuations and is considered to be less risky than XBAL.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.TO | XBAL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.27% | 3.49% | -0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 6.96% | 7.46% | -0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.32% | 8.76% | -0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.58% | 8.84% | +2.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.95% | 9.78% | +6.17% |
VDY.TO vs. XBAL.TO - Expense Ratio Comparison
VDY.TO has a 0.22% expense ratio, which is higher than XBAL.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%.
Dividends
VDY.TO vs. XBAL.TO - Dividend Comparison
VDY.TO's dividend yield for the trailing twelve months is around 2.83%, more than XBAL.TO's 2.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XBAL.TO iShares Core Balanced ETF Portfolio | 2.11% | 2.27% | 2.72% | 2.43% | 2.12% | 1.78% | 2.04% | 2.31% | 3.47% | 3.00% | 3.72% | 3.38% |
Frequently Asked Questions
VDY.TO and XBAL.TO have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XBAL.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XBAL.TO is cheaper with a 0.20% expense ratio, compared with 0.22% for VDY.TO.
VDY.TO is categorized as Dividend, while XBAL.TO is Diversified Portfolio. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.22% for VDY.TO and 0.20% for XBAL.TO.
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