VEE.TO vs. XBB.TO
VEE.TO (Vanguard FTSE Emerging Markets All Cap Index ETF) and XBB.TO (iShares Core Canadian Universe Bond Index ETF) are both exchange-traded funds - VEE.TO is a Emerging Markets Equities fund tracking the FTSE Emerging Markets All Cap China A Inclusion Index, while XBB.TO is a Intermediate Core Bond fund tracking the FTSE Canada Universe Bond Index. Both are passively managed. Over the past 10 years, VEE.TO returned 9.42%/yr vs 1.63%/yr for XBB.TO. At a correlation of -0.05, they often move in opposite directions. VEE.TO charges 0.25%/yr vs 0.10%/yr for XBB.TO.
Performance
VEE.TO vs. XBB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, VEE.TO achieves a 15.16% return, which is significantly higher than XBB.TO's 1.72% return. Over the past 10 years, VEE.TO has outperformed XBB.TO with an annualized return of 9.42%, while XBB.TO has yielded a comparatively lower 1.63% annualized return.
VEE.TO
- 1D
- 2.22%
- 1M
- 5.84%
- YTD
- 15.16%
- 6M
- 16.71%
- 1Y
- 32.44%
- 3Y*
- 18.31%
- 5Y*
- 7.98%
- 10Y*
- 9.42%
XBB.TO
- 1D
- 0.07%
- 1M
- 2.10%
- YTD
- 1.72%
- 6M
- 1.94%
- 1Y
- 4.05%
- 3Y*
- 4.40%
- 5Y*
- 0.73%
- 10Y*
- 1.63%
VEE.TO vs. XBB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VEE.TO Vanguard FTSE Emerging Markets All Cap Index ETF | 15.16% | 19.32% | 19.06% | 6.24% | -12.79% | 0.06% | 12.32% | 14.32% | -7.93% | 22.60% |
XBB.TO iShares Core Canadian Universe Bond Index ETF | 1.72% | 2.59% | 4.00% | 6.64% | -11.66% | -2.81% | 8.58% | 7.28% | 1.00% | 2.42% |
Correlation
The correlation between VEE.TO and XBB.TO is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2011 | -0.05 |
The correlation between VEE.TO and XBB.TO shifts across timeframes, from -0.05 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VEE.TO vs. XBB.TO — Risk / Return Rank
VEE.TO
XBB.TO
VEE.TO vs. XBB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO) and iShares Core Canadian Universe Bond Index ETF (XBB.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.
| VEE.TO | XBB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.11 | ||
| Sortino ratioReturn per unit of downside risk | +1.53 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.16 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 3.04 | 1.49 | +1.55 |
| Martin ratioReturn relative to average drawdown | 10.84 | 3.47 | +7.36 |
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Drawdowns
VEE.TO vs. XBB.TO - Drawdown Comparison
The maximum VEE.TO drawdown since its inception was -29.84%, which is greater than XBB.TO's maximum drawdown of -18.16%. Use the drawdown chart below to compare losses from any high point for VEE.TO and XBB.TO.
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Drawdown Indicators
| VEE.TO | XBB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.84% | -18.16% | -11.68% |
Max Drawdown (1Y)Largest decline over 1 year | -10.74% | -2.73% | -8.01% |
Max Drawdown (3Y)Largest decline over 3 years | -14.97% | -5.42% | -9.55% |
Max Drawdown (5Y)Largest decline over 5 years | -26.10% | -15.90% | -10.20% |
Max Drawdown (10Y)Largest decline over 10 years | -29.84% | -18.16% | -11.68% |
Current DrawdownCurrent decline from peak | 0.00% | -1.18% | +1.18% |
Average DrawdownAverage peak-to-trough decline | -8.72% | -3.07% | -5.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 1.17% | +1.83% |
Volatility
VEE.TO vs. XBB.TO - Volatility Comparison
Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO) has a higher volatility of 7.28% compared to iShares Core Canadian Universe Bond Index ETF (XBB.TO) at 1.44%. This indicates that VEE.TO's price experiences larger fluctuations and is considered to be riskier than XBB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEE.TO | XBB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.28% | 1.44% | +5.84% |
Volatility (6M)Calculated over the trailing 6-month period | 13.81% | 3.26% | +10.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.03% | 4.37% | +11.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.46% | 6.63% | +8.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.01% | 6.70% | +10.31% |
VEE.TO vs. XBB.TO - Expense Ratio Comparison
VEE.TO has a 0.25% expense ratio, which is higher than XBB.TO's 0.10% 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
VEE.TO vs. XBB.TO - Dividend Comparison
VEE.TO's dividend yield for the trailing twelve months is around 1.89%, less than XBB.TO's 3.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VEE.TO Vanguard FTSE Emerging Markets All Cap Index ETF | 1.89% | 2.26% | 2.45% | 2.83% | 3.35% | 2.18% | 1.62% | 2.71% | 2.24% | 1.93% | 2.01% | 2.53% |
XBB.TO iShares Core Canadian Universe Bond Index ETF | 3.40% | 3.39% | 3.25% | 3.01% | 2.91% | 2.54% | 2.55% | 2.80% | 2.92% | 2.83% | 2.81% | 2.87% |
Frequently Asked Questions
VEE.TO and XBB.TO have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XBB.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XBB.TO is cheaper with a 0.10% expense ratio, compared with 0.25% for VEE.TO.
VEE.TO is categorized as Emerging Markets Equities, while XBB.TO is Intermediate Core Bond. VEE.TO tracks FTSE Emerging Markets All Cap China A Inclusion Index, while XBB.TO tracks FTSE Canada Universe Bond Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.25% for VEE.TO and 0.10% for XBB.TO.
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