VSC.TO vs. ZSU.TO
VSC.TO (Vanguard Canadian Short-Term Corporate Bond Index ETF) and ZSU.TO (BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF) are both Short-Term Bond funds. Over the past 10 years, VSC.TO returned 2.68%/yr vs 1.67%/yr for ZSU.TO. At a 0.23 correlation, their price movements are largely independent.
Performance
VSC.TO vs. ZSU.TO - Performance Comparison
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Returns By Period
In the year-to-date period, VSC.TO achieves a 1.43% return, which is significantly higher than ZSU.TO's -0.12% return. Over the past 10 years, VSC.TO has outperformed ZSU.TO with an annualized return of 2.68%, while ZSU.TO has yielded a comparatively lower 1.67% annualized return.
VSC.TO
- 1D
- 0.12%
- 1M
- -0.01%
- 6M
- 1.14%
- YTD
- 1.43%
- 1Y
- 4.01%
- 3Y*
- 5.65%
- 5Y*
- 2.67%
- 10Y*
- 2.68%
ZSU.TO
- 1D
- 0.31%
- 1M
- 0.07%
- 6M
- -0.12%
- YTD
- -0.12%
- 1Y
- 2.06%
- 3Y*
- 4.00%
- 5Y*
- 1.20%
- 10Y*
- 1.67%
VSC.TO vs. ZSU.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VSC.TO Vanguard Canadian Short-Term Corporate Bond Index ETF | 1.43% | 4.32% | 6.10% | 6.75% | -4.23% | -0.97% | 6.27% | 4.72% | 1.19% | 0.92% |
ZSU.TO BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF | -0.12% | 4.61% | 3.84% | 5.18% | -6.17% | -0.99% | 4.54% | 5.57% | 0.06% | 1.20% |
Correlation
The correlation between VSC.TO and ZSU.TO is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2014 | 0.23 |
The correlation between VSC.TO and ZSU.TO shifts across timeframes, from 0.23 (all time) to 0.45 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VSC.TO vs. ZSU.TO — Risk / Return Rank
VSC.TO
ZSU.TO
VSC.TO vs. ZSU.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Canadian Short-Term Corporate Bond Index ETF (VSC.TO) and BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF (ZSU.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.
| VSC.TO | ZSU.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.19 | ||
| Sortino ratioReturn per unit of downside risk | +1.62 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.15 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.64 | 1.39 | +1.25 |
| Martin ratioReturn relative to average drawdown | 10.59 | 3.66 | +6.94 |
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Drawdowns
VSC.TO vs. ZSU.TO - Drawdown Comparison
The maximum VSC.TO drawdown since its inception was -15.87%, which is greater than ZSU.TO's maximum drawdown of -12.35%. Use the drawdown chart below to compare losses from any high point for VSC.TO and ZSU.TO.
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Drawdown Indicators
| VSC.TO | ZSU.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.87% | -12.35% | -3.52% |
Max Drawdown (1Y)Largest decline over 1 year | -1.53% | -1.49% | -0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -1.53% | -1.49% | -0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -7.68% | -10.02% | +2.34% |
Max Drawdown (10Y)Largest decline over 10 years | -15.87% | -12.35% | -3.52% |
Current DrawdownCurrent decline from peak | -0.21% | -0.70% | +0.49% |
Average DrawdownAverage peak-to-trough decline | -0.97% | -1.62% | +0.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 0.56% | -0.18% |
Volatility
VSC.TO vs. ZSU.TO - Volatility Comparison
Vanguard Canadian Short-Term Corporate Bond Index ETF (VSC.TO) has a higher volatility of 0.70% compared to BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF (ZSU.TO) at 0.66%. This indicates that VSC.TO's price experiences larger fluctuations and is considered to be riskier than ZSU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VSC.TO | ZSU.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 0.66% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 1.65% | 1.79% | -0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.04% | 2.59% | -0.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.76% | 3.68% | -0.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.16% | 4.46% | +0.70% |
Dividends
VSC.TO vs. ZSU.TO - Dividend Comparison
VSC.TO's dividend yield for the trailing twelve months is around 3.71%, less than ZSU.TO's 4.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VSC.TO Vanguard Canadian Short-Term Corporate Bond Index ETF | 3.71% | 3.32% | 2.99% | 3.14% | 2.85% | 2.59% | 2.64% | 2.71% | 2.77% | 2.75% | 2.89% | 3.05% |
ZSU.TO BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF | 4.30% | 3.76% | 3.31% | 3.17% | 3.23% | 2.97% | 2.99% | 2.78% | 2.49% | 2.30% | 2.07% | 2.29% |
Frequently Asked Questions
VSC.TO and ZSU.TO have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Vanguard and BMO.
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