VSB.TO vs. VUN.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Canadian Short Term Bond (VSB.TO) and Vanguard US Total Market Index ETF (VUN.TO).

VSB.TO and VUN.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. VUN.TO is a passively managed fund by Vanguard that tracks the performance of the CRSP US Total Market Index. It was launched on Aug 2, 2013. Both VSB.TO and VUN.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. VUN.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 Vanguard US Total Market Index ETF (VUN.TO). The values are adjusted to include any dividend payments, if applicable.

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
VUN.TO Vanguard US Total Market Index ETF	-2.82%	11.43%	33.76%	23.00%	-14.20%	24.54%	18.22%	23.99%	2.35%	13.01%

Returns By Period

In the year-to-date period, VSB.TO achieves a 0.24% return, which is significantly higher than VUN.TO's -2.82% return. Over the past 10 years, VSB.TO has underperformed VUN.TO with an annualized return of 1.92%, while VUN.TO has yielded a comparatively higher 13.94% 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%

VUN.TO

• 1D: 2.65%
• 1M: -3.16%
• YTD: -2.82%
• 6M: -1.85%
• 1Y: 13.71%
• 3Y*: 18.56%
• 5Y*: 12.38%
• 10Y*: 13.94%

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

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

VSB.TO has a 0.15% expense ratio, which is lower than VUN.TO's 0.17% 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%.

VUN.TO

Vanguard US Total Market Index ETF

VSB.TO

Vanguard Canadian Short Term Bond

Return for Risk

VSB.TO vs. VUN.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: 67
VSB.TO Sharpe Ratio Rank: 70
VSB.TO Sortino Ratio Rank: 66
VSB.TO Omega Ratio Rank: 64
VSB.TO Calmar Ratio Rank: 68
VSB.TO Martin Ratio Rank: 67

VUN.TO

VUN.TO Risk / Return Rank: 47
VUN.TO Sharpe Ratio Rank: 43
VUN.TO Sortino Ratio Rank: 42
VUN.TO Omega Ratio Rank: 48
VUN.TO Calmar Ratio Rank: 51
VUN.TO Martin Ratio Rank: 50

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. VUN.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Canadian Short Term Bond (VSB.TO) and Vanguard US Total Market Index ETF (VUN.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.TO	VUN.TO	Difference
Sharpe ratio Return per unit of total volatility	1.21	0.74	+0.47
Sortino ratio Return per unit of downside risk	1.63	1.12	+0.51
Omega ratio Gain probability vs. loss probability	1.23	1.17	+0.06
Calmar ratio Return relative to maximum drawdown	1.65	1.17	+0.48
Martin ratio Return relative to average drawdown	6.59	4.47	+2.12
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. VUN.TO - Sharpe Ratio Comparison

The current VSB.TO Sharpe Ratio is 1.21, which is higher than the VUN.TO Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of VSB.TO and VUN.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

	VSB.TO	VUN.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.21	0.74	+0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.81	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.84	-0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.94	-0.31

Correlation

The correlation between VSB.TO and VUN.TO is 0.04, 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

VSB.TO vs. VUN.TO - Dividend Comparison

VSB.TO's dividend yield for the trailing twelve months is around 3.01%, more than VUN.TO's 0.86% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VUN.TO Vanguard US Total Market Index ETF	0.86%	0.84%	0.93%	1.10%	1.21%	0.97%	1.15%	1.45%	1.52%	1.39%	1.49%	1.49%

Drawdowns

VSB.TO vs. VUN.TO - Drawdown Comparison

The maximum VSB.TO drawdown since its inception was -8.38%, smaller than the maximum VUN.TO drawdown of -28.19%. Use the drawdown chart below to compare losses from any high point for VSB.TO and VUN.TO.

Drawdown Indicators

	VSB.TO	VUN.TO	Difference
Max Drawdown Largest peak-to-trough decline	-8.38%	-28.19%	+19.81%
Max Drawdown (1Y) Largest decline over 1 year	-1.43%	-12.74%	+11.31%
Max Drawdown (5Y) Largest decline over 5 years	-6.88%	-23.67%	+16.79%
Max Drawdown (10Y) Largest decline over 10 years	-8.38%	-28.19%	+19.81%
Current Drawdown Current decline from peak	-0.85%	-6.09%	+5.24%
Average Drawdown Average peak-to-trough decline	-0.95%	-3.84%	+2.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.36%	3.35%	-2.99%

Volatility

VSB.TO vs. VUN.TO - Volatility Comparison

The current volatility for Vanguard Canadian Short Term Bond (VSB.TO) is 0.94%, while Vanguard US Total Market Index ETF (VUN.TO) has a volatility of 5.24%. This indicates that VSB.TO experiences smaller price fluctuations and is considered to be less risky than VUN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSB.TO	VUN.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.94%	5.24%	-4.30%
Volatility (6M) Calculated over the trailing 6-month period	1.34%	9.69%	-8.35%
Volatility (1Y) Calculated over the trailing 1-year period	1.85%	18.76%	-16.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.54%	15.44%	-12.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.48%	16.72%	-13.24%