VLB.TO vs. VBAL.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Canadian Long-Term Bond Index ETF (VLB.TO) and Vanguard Balanced ETF Portfolio (VBAL.TO).

VLB.TO 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. VLB.TO is a passively managed fund by Vanguard that tracks the performance of the Bloomberg Barclays Global Aggregate Canadian 10+ Year Float Adjusted Bond Index. It was launched on Jan 31, 2017. VBAL.TO is an actively managed fund by Vanguard. It was launched on Jan 25, 2018.

Performance

VLB.TO vs. VBAL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard Canadian Long-Term Bond Index ETF (VLB.TO) and Vanguard Balanced ETF Portfolio (VBAL.TO). The values are adjusted to include any dividend payments, if applicable.

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
VLB.TO Vanguard Canadian Long-Term Bond Index ETF	0.08%	-1.07%	0.69%	9.27%	-21.79%	-4.94%	9.88%	11.93%	1.55%
VBAL.TO Vanguard Balanced ETF Portfolio	0.43%	13.28%	14.60%	12.46%	-11.41%	10.19%	10.25%	14.88%	-2.84%

Returns By Period

In the year-to-date period, VLB.TO achieves a 0.08% return, which is significantly lower than VBAL.TO's 0.43% return.

VLB.TO

• 1D: 0.00%
• 1M: -3.76%
• YTD: 0.08%
• 6M: -1.69%
• 1Y: -2.86%
• 3Y*: 1.31%
• 5Y*: -1.94%
• 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)

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

VLB.TO has a 0.15% 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%.

VBAL.TO

Vanguard Balanced ETF Portfolio

VLB.TO

Vanguard Canadian Long-Term Bond Index ETF

Return for Risk

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

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

VLB.TO

VLB.TO Risk / Return Rank: 5
VLB.TO Sharpe Ratio Rank: 5
VLB.TO Sortino Ratio Rank: 4
VLB.TO Omega Ratio Rank: 5
VLB.TO Calmar Ratio Rank: 6
VLB.TO Martin Ratio Rank: 6

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.

VLB.TO vs. VBAL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Canadian Long-Term Bond Index ETF (VLB.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.

	VLB.TO	VBAL.TO	Difference
Sharpe ratio Return per unit of total volatility	-0.40	1.33	-1.72
Sortino ratio Return per unit of downside risk	-0.47	1.85	-2.32
Omega ratio Gain probability vs. loss probability	0.94	1.28	-0.34
Calmar ratio Return relative to maximum drawdown	-0.39	1.86	-2.25
Martin ratio Return relative to average drawdown	-0.76	7.73	-8.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current VLB.TO Sharpe Ratio is -0.40, which is lower than the VBAL.TO Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of VLB.TO 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

	VLB.TO	VBAL.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.40	1.33	-1.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.16	0.82	-0.98
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	0.71	-0.66

Correlation

The correlation between VLB.TO and VBAL.TO is 0.25, 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

VLB.TO vs. VBAL.TO - Dividend Comparison

VLB.TO's dividend yield for the trailing twelve months is around 4.31%, more than VBAL.TO's 2.20% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
VLB.TO Vanguard Canadian Long-Term Bond Index ETF	4.31%	3.96%	3.78%	3.47%	3.75%	2.95%	2.80%	2.84%	3.43%	2.82%
VBAL.TO Vanguard Balanced ETF Portfolio	2.20%	2.21%	2.29%	2.34%	2.19%	1.93%	1.81%	2.23%	2.01%	0.00%

Drawdowns

VLB.TO vs. VBAL.TO - Drawdown Comparison

The maximum VLB.TO drawdown since its inception was -34.41%, 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 VLB.TO and VBAL.TO.

Drawdown Indicators

	VLB.TO	VBAL.TO	Difference
Max Drawdown Largest peak-to-trough decline	-34.41%	-21.19%	-13.22%
Max Drawdown (1Y) Largest decline over 1 year	-7.32%	-7.55%	+0.23%
Max Drawdown (5Y) Largest decline over 5 years	-27.90%	-16.43%	-11.47%
Current Drawdown Current decline from peak	-22.48%	-3.72%	-18.76%
Average Drawdown Average peak-to-trough decline	-13.99%	-3.21%	-10.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.75%	1.81%	+1.94%

Volatility

VLB.TO vs. VBAL.TO - Volatility Comparison

The current volatility for Vanguard Canadian Long-Term Bond Index ETF (VLB.TO) is 3.51%, while Vanguard Balanced ETF Portfolio (VBAL.TO) has a volatility of 4.17%. This indicates that VLB.TO 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

	VLB.TO	VBAL.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.51%	4.17%	-0.66%
Volatility (6M) Calculated over the trailing 6-month period	5.59%	6.26%	-0.67%
Volatility (1Y) Calculated over the trailing 1-year period	9.13%	10.14%	-1.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.37%	8.54%	+3.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.24%	10.10%	+1.14%