VNQ vs. BND.TO
VNQ (Vanguard Real Estate ETF) and BND.TO (Purpose Global Bond Fund) are both exchange-traded funds - VNQ is a REIT fund tracking the MSCI US Investable Market Real Estate 25/50 Index, while BND.TO is a Global Bonds fund. VNQ is passively managed, while BND.TO is actively managed. Over the past 10 years, VNQ returned 5.44%/yr vs 2.25%/yr for BND.TO. At a 0.12 correlation, their price movements are largely independent.
Performance
VNQ vs. BND.TO - Performance Comparison
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Different Trading Currencies
VNQ is traded in USD, while BND.TO is traded in CAD. To make them comparable, the BND.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, VNQ achieves a 11.72% return, which is significantly higher than BND.TO's -0.41% return. Over the past 10 years, VNQ has outperformed BND.TO with an annualized return of 5.44%, while BND.TO has yielded a comparatively lower 2.25% annualized return.
VNQ
- 1D
- -0.70%
- 1M
- 4.16%
- YTD
- 11.72%
- 6M
- 11.19%
- 1Y
- 13.22%
- 3Y*
- 9.58%
- 5Y*
- 2.68%
- 10Y*
- 5.44%
BND.TO
- 1D
- 0.63%
- 1M
- -0.23%
- YTD
- -0.41%
- 6M
- 0.22%
- 1Y
- 3.40%
- 3Y*
- 5.46%
- 5Y*
- 0.48%
- 10Y*
- 2.25%
VNQ vs. BND.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VNQ Vanguard Real Estate ETF | 11.72% | 3.24% | 4.81% | 11.85% | -26.25% | 40.54% | -4.61% | 28.91% | -6.03% | 4.90% |
BND.TO Purpose Global Bond Fund | -0.41% | 12.39% | -0.90% | 11.10% | -13.29% | 2.67% | 8.72% | 8.63% | -8.59% | 9.11% |
Correlation
The correlation between VNQ and BND.TO is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 2015 | 0.12 |
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Return for Risk
VNQ vs. BND.TO — Risk / Return Rank
VNQ
BND.TO
VNQ vs. BND.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Real Estate ETF (VNQ) and Purpose Global Bond Fund (BND.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.
| VNQ | BND.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.11 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 0.69 | +0.91 |
| Martin ratioReturn relative to average drawdown | 5.01 | 2.06 | +2.95 |
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Drawdowns
VNQ vs. BND.TO - Drawdown Comparison
The maximum VNQ drawdown since its inception was -73.07%, which is greater than BND.TO's maximum drawdown of -26.06%. Use the drawdown chart below to compare losses from any high point for VNQ and BND.TO.
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Drawdown Indicators
| VNQ | BND.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.07% | -26.06% | -47.01% |
Max Drawdown (1Y)Largest decline over 1 year | -8.34% | -4.98% | -3.36% |
Max Drawdown (3Y)Largest decline over 3 years | -17.46% | -8.35% | -9.11% |
Max Drawdown (5Y)Largest decline over 5 years | -34.48% | -21.19% | -13.29% |
Max Drawdown (10Y)Largest decline over 10 years | -42.40% | -26.06% | -16.34% |
Current DrawdownCurrent decline from peak | -0.70% | -2.19% | +1.49% |
Average DrawdownAverage peak-to-trough decline | -13.61% | -6.47% | -7.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.64% | 1.65% | +0.99% |
Volatility
VNQ vs. BND.TO - Volatility Comparison
Vanguard Real Estate ETF (VNQ) has a higher volatility of 4.74% compared to Purpose Global Bond Fund (BND.TO) at 1.76%. This indicates that VNQ's price experiences larger fluctuations and is considered to be riskier than BND.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VNQ | BND.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.74% | 1.76% | +2.98% |
Volatility (6M)Calculated over the trailing 6-month period | 9.79% | 4.21% | +5.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.54% | 5.46% | +8.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.85% | 8.32% | +10.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.72% | 8.65% | +12.07% |
Dividends
VNQ vs. BND.TO - Dividend Comparison
VNQ's dividend yield for the trailing twelve months is around 3.56%, less than BND.TO's 5.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BND.TO Purpose Global Bond Fund | 5.82% | 5.70% | 5.24% | 5.20% | 4.14% | 3.67% | 3.48% | 3.11% | 3.96% | 3.47% | 3.26% | 0.53% |
VNQ Vanguard Real Estate ETF | 3.56% | 3.92% | 3.85% | 3.95% | 3.91% | 2.56% | 3.93% | 3.39% | 4.74% | 4.23% | 4.82% | 3.92% |
Frequently Asked Questions
VNQ and BND.TO have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VNQ is categorized as REIT, while BND.TO is Global Bonds.
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