VSBSX vs. XBB.TO

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard Short-Term Treasury Index Fund Admiral Shares (VSBSX) and iShares Core Canadian Universe Bond Index ETF (XBB.TO).

VSBSX is managed by Vanguard. It was launched on Dec 28, 2009. XBB.TO is a passively managed fund by iShares that tracks the performance of the Morningstar Can Core Bd GR CAD. It was launched on Nov 20, 2000.

Performance

VSBSX vs. XBB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Short-Term Treasury Index Fund Admiral Shares (VSBSX) and iShares Core Canadian Universe Bond Index ETF (XBB.TO). The values are adjusted to include any dividend payments, if applicable.

VSBSX vs. XBB.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VSBSX Vanguard Short-Term Treasury Index Fund Admiral Shares	0.29%	5.08%	4.39%	4.23%	-3.87%	-0.69%	3.09%	3.51%	1.52%	0.35%
XBB.TO iShares Core Canadian Universe Bond Index ETF	-1.35%	7.51%	-4.22%	9.07%	-17.58%	-2.09%	10.75%	12.63%	-6.84%	9.49%

Different Trading Currencies

VSBSX is traded in USD, while XBB.TO is traded in CAD. To make them comparable, the XBB.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VSBSX achieves a 0.29% return, which is significantly higher than XBB.TO's -1.35% return. Over the past 10 years, VSBSX has outperformed XBB.TO with an annualized return of 1.74%, while XBB.TO has yielded a comparatively lower 0.95% annualized return.

VSBSX

• 1D: 0.10%
• 1M: -0.31%
• YTD: 0.29%
• 6M: 1.25%
• 1Y: 3.68%
• 3Y*: 4.11%
• 5Y*: 1.84%
• 10Y*: 1.74%

XBB.TO

• 1D: -0.14%
• 1M: -3.29%
• YTD: -1.35%
• 6M: -0.00%
• 1Y: 3.01%
• 3Y*: 2.33%
• 5Y*: -1.51%
• 10Y*: 0.95%

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

VSBSX vs. XBB.TO - Expense Ratio Comparison

VSBSX has a 0.07% expense ratio, which is lower than XBB.TO's 0.10% 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%.

XBB.TO

iShares Core Canadian Universe Bond Index ETF

VSBSX

Vanguard Short-Term Treasury Index Fund Admiral Shares

Return for Risk

VSBSX vs. XBB.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VSBSX

VSBSX Risk / Return Rank: 97
VSBSX Sharpe Ratio Rank: 97
VSBSX Sortino Ratio Rank: 97
VSBSX Omega Ratio Rank: 96
VSBSX Calmar Ratio Rank: 98
VSBSX Martin Ratio Rank: 97

XBB.TO

XBB.TO Risk / Return Rank: 12
XBB.TO Sharpe Ratio Rank: 12
XBB.TO Sortino Ratio Rank: 10
XBB.TO Omega Ratio Rank: 10
XBB.TO Calmar Ratio Rank: 15
XBB.TO Martin Ratio Rank: 14

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.

VSBSX vs. XBB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Treasury Index Fund Admiral Shares (VSBSX) and iShares Core Canadian Universe Bond Index ETF (XBB.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.

	VSBSX	XBB.TO	Difference
Sharpe ratio Return per unit of total volatility	2.60	0.45	+2.15
Sortino ratio Return per unit of downside risk	4.12	0.68	+3.45
Omega ratio Gain probability vs. loss probability	1.56	1.08	+0.48
Calmar ratio Return relative to maximum drawdown	4.52	0.92	+3.60
Martin ratio Return relative to average drawdown	17.41	2.66	+14.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VSBSX vs. XBB.TO - Sharpe Ratio Comparison

The current VSBSX Sharpe Ratio is 2.60, which is higher than the XBB.TO Sharpe Ratio of 0.45. The chart below compares the historical Sharpe Ratios of VSBSX and XBB.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

	VSBSX	XBB.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.60	0.45	+2.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.96	-0.16	+1.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.14	0.10	+1.04
Sharpe Ratio (All Time) Calculated using the full available price history	1.07	0.26	+0.81

Correlation

The correlation between VSBSX and XBB.TO is 0.32, 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

VSBSX vs. XBB.TO - Dividend Comparison

VSBSX's dividend yield for the trailing twelve months is around 3.57%, more than XBB.TO's 3.43% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VSBSX Vanguard Short-Term Treasury Index Fund Admiral Shares	3.57%	3.98%	4.50%	3.29%	1.12%	0.63%	1.72%	2.26%	1.80%	1.10%	0.76%	0.71%
XBB.TO iShares Core Canadian Universe Bond Index ETF	3.43%	3.39%	3.25%	3.01%	2.91%	2.54%	2.55%	2.80%	2.92%	2.83%	2.81%	2.87%

Drawdowns

VSBSX vs. XBB.TO - Drawdown Comparison

The maximum VSBSX drawdown since its inception was -5.77%, smaller than the maximum XBB.TO drawdown of -24.77%. Use the drawdown chart below to compare losses from any high point for VSBSX and XBB.TO.

Drawdown Indicators

	VSBSX	XBB.TO	Difference
Max Drawdown Largest peak-to-trough decline	-5.77%	-18.16%	+12.39%
Max Drawdown (1Y) Largest decline over 1 year	-0.84%	-2.80%	+1.96%
Max Drawdown (5Y) Largest decline over 5 years	-5.77%	-15.90%	+10.13%
Max Drawdown (10Y) Largest decline over 10 years	-5.77%	-18.16%	+12.39%
Current Drawdown Current decline from peak	-0.43%	-3.03%	+2.60%
Average Drawdown Average peak-to-trough decline	-0.59%	-2.77%	+2.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.22%	1.41%	-1.19%

Volatility

VSBSX vs. XBB.TO - Volatility Comparison

The current volatility for Vanguard Short-Term Treasury Index Fund Admiral Shares (VSBSX) is 0.53%, while iShares Core Canadian Universe Bond Index ETF (XBB.TO) has a volatility of 2.31%. This indicates that VSBSX experiences smaller price fluctuations and is considered to be less risky than XBB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSBSX	XBB.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.53%	2.31%	-1.78%
Volatility (6M) Calculated over the trailing 6-month period	0.84%	4.17%	-3.33%
Volatility (1Y) Calculated over the trailing 1-year period	1.44%	6.75%	-5.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.94%	9.44%	-7.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.53%	9.64%	-8.11%