VLB.TO vs. VDY.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Canadian Long-Term Bond Index ETF (VLB.TO) and Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO).

VLB.TO and VDY.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. VDY.TO is a passively managed fund by Vanguard that tracks the performance of the FTSE Canada High Dividend Yield Index. It was launched on Nov 2, 2012. Both VLB.TO and VDY.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

VLB.TO vs. VDY.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 FTSE Canadian High Dividend Yield Index ETF (VDY.TO). The values are adjusted to include any dividend payments, if applicable.

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%	-0.45%	6.88%
VDY.TO Vanguard FTSE Canadian High Dividend Yield Index ETF	9.07%	29.20%	20.71%	8.40%	-0.23%	36.78%	-1.37%	21.43%	-10.09%	6.12%

Returns By Period

In the year-to-date period, VLB.TO achieves a 0.08% return, which is significantly lower than VDY.TO's 9.07% 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*: —

VDY.TO

• 1D: 1.12%
• 1M: 0.19%
• YTD: 9.07%
• 6M: 16.25%
• 1Y: 39.26%
• 3Y*: 22.01%
• 5Y*: 16.73%
• 10Y*: 13.53%

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

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

VLB.TO has a 0.15% expense ratio, which is lower than VDY.TO's 0.22% 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%.

VDY.TO

Vanguard FTSE Canadian High Dividend Yield Index ETF

VLB.TO

Vanguard Canadian Long-Term Bond Index ETF

Return for Risk

VLB.TO vs. VDY.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

VDY.TO

VDY.TO Risk / Return Rank: 97
VDY.TO Sharpe Ratio Rank: 98
VDY.TO Sortino Ratio Rank: 98
VDY.TO Omega Ratio Rank: 98
VDY.TO Calmar Ratio Rank: 95
VDY.TO Martin Ratio Rank: 98

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. VDY.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 FTSE Canadian High Dividend Yield Index ETF (VDY.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	VDY.TO	Difference
Sharpe ratio Return per unit of total volatility	-0.40	3.58	-3.98
Sortino ratio Return per unit of downside risk	-0.47	4.31	-4.78
Omega ratio Gain probability vs. loss probability	0.94	1.77	-0.83
Calmar ratio Return relative to maximum drawdown	-0.39	4.00	-4.39
Martin ratio Return relative to average drawdown	-0.76	22.92	-23.68
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. VDY.TO - Sharpe Ratio Comparison

The current VLB.TO Sharpe Ratio is -0.40, which is lower than the VDY.TO Sharpe Ratio of 3.58. The chart below compares the historical Sharpe Ratios of VLB.TO and VDY.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	VDY.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.40	3.58	-3.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.16	1.47	-1.62
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.85	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	0.80	-0.74

Correlation

The correlation between VLB.TO and VDY.TO is -0.03. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

VLB.TO vs. VDY.TO - Dividend Comparison

VLB.TO's dividend yield for the trailing twelve months is around 4.31%, more than VDY.TO's 3.51% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%
VDY.TO Vanguard FTSE Canadian High Dividend Yield Index ETF	3.51%	3.59%	4.40%	4.64%	4.42%	3.58%	4.59%	4.25%	4.43%	3.82%	3.25%	4.11%

Drawdowns

VLB.TO vs. VDY.TO - Drawdown Comparison

The maximum VLB.TO drawdown since its inception was -34.41%, smaller than the maximum VDY.TO drawdown of -39.21%. Use the drawdown chart below to compare losses from any high point for VLB.TO and VDY.TO.

Drawdown Indicators

	VLB.TO	VDY.TO	Difference
Max Drawdown Largest peak-to-trough decline	-34.41%	-39.21%	+4.80%
Max Drawdown (1Y) Largest decline over 1 year	-7.32%	-10.07%	+2.75%
Max Drawdown (5Y) Largest decline over 5 years	-27.90%	-16.18%	-11.72%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.21%	—
Current Drawdown Current decline from peak	-22.48%	-0.55%	-21.93%
Average Drawdown Average peak-to-trough decline	-13.99%	-4.67%	-9.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.75%	1.76%	+1.99%

Volatility

VLB.TO vs. VDY.TO - Volatility Comparison

Vanguard Canadian Long-Term Bond Index ETF (VLB.TO) and Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) have volatilities of 3.51% and 3.37%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VLB.TO	VDY.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.51%	3.37%	+0.14%
Volatility (6M) Calculated over the trailing 6-month period	5.59%	6.43%	-0.84%
Volatility (1Y) Calculated over the trailing 1-year period	9.13%	11.03%	-1.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.37%	11.49%	+0.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.24%	15.96%	-4.72%