VGV.TO vs. XSTB.TO
VGV.TO (Vanguard Canadian Government Bond Index ETF) and XSTB.TO (iShares ESG Aware Canadian Short Term Bond Index ETF) are both Canadian Government Bonds funds - VGV.TO tracks the Bloomberg Global Aggregate Canadian Government Float Adjusted Bond Index while XSTB.TO tracks the Morningstar Can 1-5Y Core Bd GR CAD. Both are passively managed. Over the past 5 years, VGV.TO returned -0.32%/yr vs 2.01%/yr for XSTB.TO. A 0.57 correlation means they provide meaningful diversification when combined. Both charge a 0.17% expense ratio.
Performance
VGV.TO vs. XSTB.TO - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both stocks are quite close, with VGV.TO having a 1.17% return and XSTB.TO slightly lower at 1.13%.
VGV.TO
- 1D
- -0.05%
- 1M
- -0.74%
- 6M
- 0.45%
- YTD
- 1.17%
- 1Y
- 4.10%
- 3Y*
- 3.58%
- 5Y*
- -0.32%
- 10Y*
- —
XSTB.TO
- 1D
- -0.05%
- 1M
- -0.12%
- 6M
- 0.77%
- YTD
- 1.13%
- 1Y
- 3.11%
- 3Y*
- 4.70%
- 5Y*
- 2.01%
- 10Y*
- —
VGV.TO vs. XSTB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VGV.TO Vanguard Canadian Government Bond Index ETF | 1.17% | 1.90% | 3.24% | 5.61% | -12.28% | -3.53% | 7.64% | 2.83% |
XSTB.TO iShares ESG Aware Canadian Short Term Bond Index ETF | 1.13% | 3.60% | 5.28% | 4.86% | -3.91% | -1.12% | 4.95% | 1.59% |
Correlation
The correlation between VGV.TO and XSTB.TO is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2019 | 0.57 |
The correlation between VGV.TO and XSTB.TO shifts across timeframes, from 0.57 (all time) to 0.68 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VGV.TO vs. XSTB.TO — Risk / Return Rank
VGV.TO
XSTB.TO
VGV.TO vs. XSTB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Canadian Government Bond Index ETF (VGV.TO) and iShares ESG Aware Canadian Short Term Bond Index ETF (XSTB.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.
| VGV.TO | XSTB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.90 | ||
| Sortino ratioReturn per unit of downside risk | -1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.35 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | 2.31 | -0.91 |
| Martin ratioReturn relative to average drawdown | 3.18 | 7.29 | -4.11 |
Loading charts...
Drawdowns
VGV.TO vs. XSTB.TO - Drawdown Comparison
The maximum VGV.TO drawdown since its inception was -20.77%, which is greater than XSTB.TO's maximum drawdown of -6.92%. Use the drawdown chart below to compare losses from any high point for VGV.TO and XSTB.TO.
Loading charts...
Drawdown Indicators
| VGV.TO | XSTB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.77% | -6.92% | -13.85% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -1.35% | -1.58% |
Max Drawdown (3Y)Largest decline over 3 years | -5.23% | -1.35% | -3.88% |
Max Drawdown (5Y)Largest decline over 5 years | -16.94% | -6.76% | -10.18% |
Current DrawdownCurrent decline from peak | -6.90% | -0.25% | -6.65% |
Average DrawdownAverage peak-to-trough decline | -7.27% | -1.38% | -5.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.29% | 0.43% | +0.86% |
Volatility
VGV.TO vs. XSTB.TO - Volatility Comparison
Vanguard Canadian Government Bond Index ETF (VGV.TO) has a higher volatility of 1.37% compared to iShares ESG Aware Canadian Short Term Bond Index ETF (XSTB.TO) at 0.42%. This indicates that VGV.TO's price experiences larger fluctuations and is considered to be riskier than XSTB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VGV.TO | XSTB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.37% | 0.42% | +0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 3.87% | 1.47% | +2.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.93% | 1.80% | +3.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.01% | 2.55% | +4.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.00% | 2.70% | +4.30% |
VGV.TO vs. XSTB.TO - Expense Ratio Comparison
Both VGV.TO and XSTB.TO have an expense ratio of 0.17%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VGV.TO vs. XSTB.TO - Dividend Comparison
VGV.TO's dividend yield for the trailing twelve months is around 3.15%, more than XSTB.TO's 2.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
VGV.TO Vanguard Canadian Government Bond Index ETF | 3.15% | 3.04% | 2.97% | 2.78% | 2.63% | 2.35% | 2.28% | 2.36% | 2.52% | 2.16% |
XSTB.TO iShares ESG Aware Canadian Short Term Bond Index ETF | 2.88% | 2.88% | 2.64% | 2.22% | 1.93% | 1.82% | 2.10% | 1.83% | 0.00% | 0.00% |
Frequently Asked Questions
VGV.TO and XSTB.TO have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.17% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
VGV.TO and XSTB.TO have the same expense ratio: 0.17% per year.
VGV.TO tracks Bloomberg Global Aggregate Canadian Government Float Adjusted Bond Index, while XSTB.TO tracks Morningstar Can 1-5Y Core Bd GR CAD. They also come from different issuers: Vanguard and iShares.
Find the right allocation for VGV.TO and XSTB.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer