VGAB.NEO vs. VBAL.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Global Aggregate Bond Index ETF (CAD-hedged) (VGAB.NEO) and Vanguard Balanced ETF Portfolio (VBAL.TO).

VGAB.NEO and VBAL.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VGAB.NEO is a passively managed fund by Vanguard that tracks the performance of the Bloomberg Global Aggregate Float Adjusted Composite Index (CAD-Hedged). It was launched on Jan 17, 2020. VBAL.TO is an actively managed fund by Vanguard. It was launched on Jan 25, 2018.

Performance

VGAB.NEO vs. VBAL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard Global Aggregate Bond Index ETF (CAD-hedged) (VGAB.NEO) and Vanguard Balanced ETF Portfolio (VBAL.TO). The values are adjusted to include any dividend payments, if applicable.

VGAB.NEO vs. VBAL.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
VGAB.NEO Vanguard Global Aggregate Bond Index ETF (CAD-hedged)	-0.55%	2.58%	0.81%	5.73%	-13.57%	-2.59%	5.03%
VBAL.TO Vanguard Balanced ETF Portfolio	0.43%	13.28%	14.60%	12.46%	-11.41%	10.19%	7.93%

Returns By Period

In the year-to-date period, VGAB.NEO achieves a -0.55% return, which is significantly lower than VBAL.TO's 0.43% return.

VGAB.NEO

• 1D: 0.34%
• 1M: -2.12%
• YTD: -0.55%
• 6M: -0.64%
• 1Y: 1.06%
• 3Y*: 1.78%
• 5Y*: -1.18%
• 10Y*: —

VBAL.TO

• 1D: 1.84%
• 1M: -3.47%
• YTD: 0.43%
• 6M: 2.10%
• 1Y: 13.39%
• 3Y*: 11.80%
• 5Y*: 6.97%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

VGAB.NEO vs. VBAL.TO - Expense Ratio Comparison

VGAB.NEO has a 0.33% expense ratio, which is higher than VBAL.TO's 0.24% expense ratio.

VGAB.NEO

Vanguard Global Aggregate Bond Index ETF (CAD-hedged)

VBAL.TO

Vanguard Balanced ETF Portfolio

Return for Risk

VGAB.NEO vs. VBAL.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VGAB.NEO

VGAB.NEO Risk / Return Rank: 18
VGAB.NEO Sharpe Ratio Rank: 19
VGAB.NEO Sortino Ratio Rank: 16
VGAB.NEO Omega Ratio Rank: 15
VGAB.NEO Calmar Ratio Rank: 20
VGAB.NEO Martin Ratio Rank: 20

VBAL.TO

VBAL.TO Risk / Return Rank: 77
VBAL.TO Sharpe Ratio Rank: 76
VBAL.TO Sortino Ratio Rank: 76
VBAL.TO Omega Ratio Rank: 77
VBAL.TO Calmar Ratio Rank: 75
VBAL.TO Martin Ratio Rank: 78

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.

VGAB.NEO vs. VBAL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Global Aggregate Bond Index ETF (CAD-hedged) (VGAB.NEO) 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.

	VGAB.NEO	VBAL.TO	Difference
Sharpe ratio Return per unit of total volatility	0.28	1.33	-1.05
Sortino ratio Return per unit of downside risk	0.39	1.85	-1.46
Omega ratio Gain probability vs. loss probability	1.05	1.28	-0.23
Calmar ratio Return relative to maximum drawdown	0.38	1.86	-1.47
Martin ratio Return relative to average drawdown	1.24	7.73	-6.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VGAB.NEO vs. VBAL.TO - Sharpe Ratio Comparison

The current VGAB.NEO Sharpe Ratio is 0.28, which is lower than the VBAL.TO Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of VGAB.NEO and VBAL.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VGAB.NEO	VBAL.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.28	1.33	-1.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.22	0.82	-1.04
Sharpe Ratio (All Time) Calculated using the full available price history	-0.11	0.71	-0.83

Correlation

The correlation between VGAB.NEO and VBAL.TO is 0.34, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

VGAB.NEO vs. VBAL.TO - Dividend Comparison

VGAB.NEO's dividend yield for the trailing twelve months is around 3.52%, more than VBAL.TO's 2.20% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
VGAB.NEO Vanguard Global Aggregate Bond Index ETF (CAD-hedged)	3.52%	3.44%	3.24%	3.05%	1.67%	2.36%	1.35%	0.00%	0.00%
VBAL.TO Vanguard Balanced ETF Portfolio	2.20%	2.21%	2.29%	2.34%	2.19%	1.93%	1.81%	2.23%	2.01%

Drawdowns

VGAB.NEO vs. VBAL.TO - Drawdown Comparison

The maximum VGAB.NEO drawdown since its inception was -18.09%, smaller than the maximum VBAL.TO drawdown of -21.19%. Use the drawdown chart below to compare losses from any high point for VGAB.NEO and VBAL.TO.

Drawdown Indicators

	VGAB.NEO	VBAL.TO	Difference
Max Drawdown Largest peak-to-trough decline	-18.09%	-21.19%	+3.10%
Max Drawdown (1Y) Largest decline over 1 year	-2.88%	-7.55%	+4.67%
Max Drawdown (5Y) Largest decline over 5 years	-17.61%	-16.43%	-1.18%
Current Drawdown Current decline from peak	-8.47%	-3.72%	-4.75%
Average Drawdown Average peak-to-trough decline	-8.01%	-3.21%	-4.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	1.81%	-0.92%

Volatility

VGAB.NEO vs. VBAL.TO - Volatility Comparison

The current volatility for Vanguard Global Aggregate Bond Index ETF (CAD-hedged) (VGAB.NEO) is 1.63%, while Vanguard Balanced ETF Portfolio (VBAL.TO) has a volatility of 4.17%. This indicates that VGAB.NEO experiences smaller price fluctuations and is considered to be less risky than VBAL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VGAB.NEO	VBAL.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.63%	4.17%	-2.54%
Volatility (6M) Calculated over the trailing 6-month period	2.52%	6.26%	-3.74%
Volatility (1Y) Calculated over the trailing 1-year period	3.84%	10.14%	-6.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.38%	8.54%	-3.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.54%	10.10%	-4.56%