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VLB.TO vs. ZLC.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

VLB.TO vs. ZLC.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Canadian Long-Term Bond Index ETF (VLB.TO) and BMO Long Corporate Bond Index ETF (ZLC.TO).

VLB.TO and ZLC.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. ZLC.TO is a passively managed fund by BMO that tracks the performance of the FTSE Canada Long Term Corporate Bond Index. It was launched on Jan 19, 2010. Both VLB.TO and ZLC.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. ZLC.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 BMO Long Corporate Bond Index ETF (ZLC.TO). The values are adjusted to include any dividend payments, if applicable.

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

2026 (YTD)202520242023202220212020201920182017
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%
ZLC.TO
BMO Long Corporate Bond Index ETF		-0.70%2.38%4.69%11.50%-18.31%-3.20%9.51%14.51%-1.66%7.40%

Returns By Period

In the year-to-date period, VLB.TO achieves a 0.08% return, which is significantly higher than ZLC.TO's -0.70% 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*
—

ZLC.TO

1D
0.00%
1M
-3.64%
YTD
-0.70%
6M
-1.03%
1Y
0.05%
3Y*
4.44%
5Y*
0.39%
10Y*
2.62%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard Canadian Long-Term Bond Index ETF

BMO Long Corporate Bond Index ETF

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Often compared with ZLC.TO:
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VLB.TO vs. ZLC.TO - Expense Ratio Comparison

VLB.TO has a 0.15% expense ratio, which is lower than ZLC.TO's 0.33% expense ratio.

ZLC.TO
BMO Long Corporate Bond Index ETF
VLB.TO
Vanguard Canadian Long-Term Bond Index ETF

Return for Risk

VLB.TO vs. ZLC.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: 55
Overall Rank
VLB.TO Sharpe Ratio Rank: 55
Sharpe Ratio Rank
VLB.TO Sortino Ratio Rank: 44
Sortino Ratio Rank
VLB.TO Omega Ratio Rank: 55
Omega Ratio Rank
VLB.TO Calmar Ratio Rank: 66
Calmar Ratio Rank
VLB.TO Martin Ratio Rank: 66
Martin Ratio Rank
ZLC.TO
ZLC.TO Risk / Return Rank: 1212
Overall Rank
ZLC.TO Sharpe Ratio Rank: 1111
Sharpe Ratio Rank
ZLC.TO Sortino Ratio Rank: 1010
Sortino Ratio Rank
ZLC.TO Omega Ratio Rank: 1010
Omega Ratio Rank
ZLC.TO Calmar Ratio Rank: 1414
Calmar Ratio Rank
ZLC.TO Martin Ratio Rank: 1414
Martin Ratio Rank
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. ZLC.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 BMO Long Corporate Bond Index ETF (ZLC.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.TOZLC.TODifference

Sharpe ratio

Return per unit of total volatility

-0.40

0.01

-0.40

Sortino ratio

Return per unit of downside risk

-0.47

0.06

-0.53

Omega ratio

Gain probability vs. loss probability

0.94

1.01

-0.07

Calmar ratio

Return relative to maximum drawdown

-0.39

0.12

-0.51

Martin ratio

Return relative to average drawdown

-0.76

0.27

-1.03

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. ZLC.TO - Sharpe Ratio Comparison

The current VLB.TO Sharpe Ratio is -0.40, which is lower than the ZLC.TO Sharpe Ratio of 0.01. The chart below compares the historical Sharpe Ratios of VLB.TO and ZLC.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.

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Sharpe Ratios by Period

VLB.TOZLC.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.40

0.01

-0.40

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.16

0.04

-0.19

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.24

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.06

0.46

-0.40

Correlation

The correlation between VLB.TO and ZLC.TO is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

VLB.TO vs. ZLC.TO - Dividend Comparison

VLB.TO's dividend yield for the trailing twelve months is around 4.31%, less than ZLC.TO's 4.74% yield.

TTM20252024202320222021202020192018201720162015
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%
ZLC.TO
BMO Long Corporate Bond Index ETF		4.74%4.75%4.70%5.01%5.30%4.12%3.82%4.02%4.26%4.01%4.33%4.53%

Drawdowns

VLB.TO vs. ZLC.TO - Drawdown Comparison

The maximum VLB.TO drawdown since its inception was -34.41%, which is greater than ZLC.TO's maximum drawdown of -28.61%. Use the drawdown chart below to compare losses from any high point for VLB.TO and ZLC.TO.

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Drawdown Indicators

VLB.TOZLC.TODifference

Max Drawdown

Largest peak-to-trough decline

-34.41%

-28.61%

-5.80%

Max Drawdown (1Y)

Largest decline over 1 year

-7.32%

-5.15%

-2.17%

Max Drawdown (5Y)

Largest decline over 5 years

-27.90%

-24.86%

-3.04%

Max Drawdown (10Y)

Largest decline over 10 years

—

-28.61%

—

Current Drawdown

Current decline from peak

-22.48%

-7.27%

-15.21%

Average Drawdown

Average peak-to-trough decline

-13.99%

-5.98%

-8.01%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.75%

2.33%

+1.42%

Volatility

VLB.TO vs. ZLC.TO - Volatility Comparison

Vanguard Canadian Long-Term Bond Index ETF (VLB.TO) has a higher volatility of 3.51% compared to BMO Long Corporate Bond Index ETF (ZLC.TO) at 3.19%. This indicates that VLB.TO's price experiences larger fluctuations and is considered to be riskier than ZLC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VLB.TOZLC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.51%

3.19%

+0.32%

Volatility (6M)

Calculated over the trailing 6-month period

5.59%

5.14%

+0.45%

Volatility (1Y)

Calculated over the trailing 1-year period

9.13%

7.86%

+1.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.37%

11.01%

+1.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.24%

10.85%

+0.39%