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VSB.TO vs. CPD.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

VSB.TO vs. CPD.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Canadian Short Term Bond (VSB.TO) and iShares S&P/TSX Canadian Preferred Share Index ETF (CPD.TO).

VSB.TO and CPD.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VSB.TO is a passively managed fund by Vanguard that tracks the performance of the FTSE Canada Short Term Government Bond Index. It was launched on Nov 30, 2011. CPD.TO is a passively managed fund by iShares that tracks the performance of the S&P/TSX Preferred Share TR. It was launched on Apr 10, 2007. Both VSB.TO and CPD.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

VSB.TO vs. CPD.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard Canadian Short Term Bond (VSB.TO) and iShares S&P/TSX Canadian Preferred Share Index ETF (CPD.TO). The values are adjusted to include any dividend payments, if applicable.

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VSB.TO vs. CPD.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VSB.TO
Vanguard Canadian Short Term Bond		0.24%3.66%5.54%4.92%-3.93%-1.15%5.29%3.06%1.67%-0.36%
CPD.TO
iShares S&P/TSX Canadian Preferred Share Index ETF		0.11%16.10%23.31%6.23%-19.19%18.85%5.35%3.35%-9.05%13.44%

Returns By Period

In the year-to-date period, VSB.TO achieves a 0.24% return, which is significantly higher than CPD.TO's 0.11% return. Over the past 10 years, VSB.TO has underperformed CPD.TO with an annualized return of 1.92%, while CPD.TO has yielded a comparatively higher 6.39% annualized return.

VSB.TO

1D
0.19%
1M
-0.85%
YTD
0.24%
6M
0.56%
1Y
2.23%
3Y*
4.20%
5Y*
1.92%
10Y*
1.92%

CPD.TO

1D
0.88%
1M
-1.07%
YTD
0.11%
6M
3.71%
1Y
13.13%
3Y*
13.99%
5Y*
6.05%
10Y*
6.39%
*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 Short Term Bond

iShares S&P/TSX Canadian Preferred Share Index ETF

Often compared with VSB.TO:
VSB.TO vs. XSB.TOVSB.TO vs. VAB.TOVSB.TO vs. VBAL.TOVSB.TO vs. ZCS.TOVSB.TO vs. XBB.TOVSB.TO vs. VSC.TOVSB.TO vs. XEQT.TO
Often compared with CPD.TO:
CPD.TO vs. XEI.TOCPD.TO vs. VDY.TOCPD.TO vs. XDIV.TOCPD.TO vs. fie.TOCPD.TO vs. ^GSPCCPD.TO vs. ATD.TOCPD.TO vs. XAW.TO

VSB.TO vs. CPD.TO - Expense Ratio Comparison

VSB.TO has a 0.15% expense ratio, which is lower than CPD.TO's 0.50% expense ratio.

CPD.TO
iShares S&P/TSX Canadian Preferred Share Index ETF
VSB.TO
Vanguard Canadian Short Term Bond

Return for Risk

VSB.TO vs. CPD.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VSB.TO
VSB.TO Risk / Return Rank: 6767
Overall Rank
VSB.TO Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
VSB.TO Sortino Ratio Rank: 6666
Sortino Ratio Rank
VSB.TO Omega Ratio Rank: 6464
Omega Ratio Rank
VSB.TO Calmar Ratio Rank: 6868
Calmar Ratio Rank
VSB.TO Martin Ratio Rank: 6767
Martin Ratio Rank
CPD.TO
CPD.TO Risk / Return Rank: 8585
Overall Rank
CPD.TO Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
CPD.TO Sortino Ratio Rank: 8787
Sortino Ratio Rank
CPD.TO Omega Ratio Rank: 9696
Omega Ratio Rank
CPD.TO Calmar Ratio Rank: 7171
Calmar Ratio Rank
CPD.TO Martin Ratio Rank: 8383
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.

VSB.TO vs. CPD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Canadian Short Term Bond (VSB.TO) and iShares S&P/TSX Canadian Preferred Share Index ETF (CPD.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.

VSB.TOCPD.TODifference

Sharpe ratio

Return per unit of total volatility

1.21

1.94

-0.73

Sortino ratio

Return per unit of downside risk

1.63

2.35

-0.72

Omega ratio

Gain probability vs. loss probability

1.23

1.49

-0.26

Calmar ratio

Return relative to maximum drawdown

1.65

1.77

-0.12

Martin ratio

Return relative to average drawdown

6.59

8.95

-2.35

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VSB.TO vs. CPD.TO - Sharpe Ratio Comparison

The current VSB.TO Sharpe Ratio is 1.21, which is lower than the CPD.TO Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of VSB.TO and CPD.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

VSB.TOCPD.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.21

1.94

-0.73

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.76

0.79

-0.03

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.55

0.60

-0.05

Sharpe Ratio (All Time)

Calculated using the full available price history

0.63

0.31

+0.32

Correlation

The correlation between VSB.TO and CPD.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

VSB.TO vs. CPD.TO - Dividend Comparison

VSB.TO's dividend yield for the trailing twelve months is around 3.01%, less than CPD.TO's 5.11% yield.

TTM20252024202320222021202020192018201720162015
VSB.TO
Vanguard Canadian Short Term Bond		3.01%3.04%3.04%2.66%2.24%2.02%2.24%2.31%2.29%2.34%2.45%2.38%
CPD.TO
iShares S&P/TSX Canadian Preferred Share Index ETF		5.11%4.96%5.11%5.88%5.53%4.17%4.96%5.02%4.74%4.33%4.85%5.44%

Drawdowns

VSB.TO vs. CPD.TO - Drawdown Comparison

The maximum VSB.TO drawdown since its inception was -8.38%, smaller than the maximum CPD.TO drawdown of -40.92%. Use the drawdown chart below to compare losses from any high point for VSB.TO and CPD.TO.

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Drawdown Indicators

VSB.TOCPD.TODifference

Max Drawdown

Largest peak-to-trough decline

-8.38%

-40.92%

+32.54%

Max Drawdown (1Y)

Largest decline over 1 year

-1.43%

-7.57%

+6.14%

Max Drawdown (5Y)

Largest decline over 5 years

-6.88%

-24.12%

+17.24%

Max Drawdown (10Y)

Largest decline over 10 years

-8.38%

-40.92%

+32.54%

Current Drawdown

Current decline from peak

-0.85%

-1.07%

+0.22%

Average Drawdown

Average peak-to-trough decline

-0.95%

-6.78%

+5.83%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.36%

1.50%

-1.14%

Volatility

VSB.TO vs. CPD.TO - Volatility Comparison

The current volatility for Vanguard Canadian Short Term Bond (VSB.TO) is 0.94%, while iShares S&P/TSX Canadian Preferred Share Index ETF (CPD.TO) has a volatility of 1.95%. This indicates that VSB.TO experiences smaller price fluctuations and is considered to be less risky than CPD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VSB.TOCPD.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.94%

1.95%

-1.01%

Volatility (6M)

Calculated over the trailing 6-month period

1.34%

3.48%

-2.14%

Volatility (1Y)

Calculated over the trailing 1-year period

1.85%

6.79%

-4.94%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

2.54%

7.72%

-5.18%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.48%

10.66%

-7.18%