VVL.TO vs. CYBR.TO

Last updated Aug 4, 2026

VVL.TO (Vanguard Global Value Factor ETF) and CYBR.TO (Evolve Cyber Security Index Fund - Hedged Units) are both exchange-traded funds - VVL.TO is a Global Equities fund actively managed by Vanguard, while CYBR.TO is a Cybersecurity fund tracking the Solactive Global Cyber Security Index Canadian Dollar Hedged. VVL.TO is actively managed, while CYBR.TO is passively managed. Over the past 5 years, VVL.TO returned 15.45%/yr vs 6.98%/yr for CYBR.TO. Their 0.33 correlation means their historical movements had little consistent relationship. VVL.TO charges 0.38%/yr vs 0.60%/yr for CYBR.TO.

Performance

VVL.TO vs. CYBR.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard Global Value Factor ETF (VVL.TO) and Evolve Cyber Security Index Fund - Hedged Units (CYBR.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VVL.TO achieves a 19.93% return, which is significantly lower than CYBR.TO's 31.37% return.

VVL.TO

• 1D: -0.54%
• 1M: 2.41%
• 6M: 13.59%
• YTD: 19.93%
• 1Y: 36.20%
• 3Y*: 19.80%
• 5Y*: 15.45%
• 10Y*: 12.44%
• ALL TIME*: 12.64%

CYBR.TO

• 1D: 2.50%
• 1M: -3.86%
• 6M: 31.68%
• YTD: 31.37%
• 1Y: 23.21%
• 3Y*: 19.83%
• 5Y*: 6.98%
• 10Y*: —
• ALL TIME*: 14.86%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CYBR.TO Evolve Cyber Security Index Fund - Hedged Units	CA$239.84K	CA$197.23K	CA$250.21K
VVL.TO Vanguard Global Value Factor ETF	CA$1.10M	CA$1.04M	CA$875.29K

VVL.TO vs. CYBR.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VVL.TO Vanguard Global Value Factor ETF	19.93%	18.01%	15.01%	16.57%	0.50%	29.77%	-3.29%	13.44%	-9.39%	9.73%
CYBR.TO Evolve Cyber Security Index Fund - Hedged Units	31.37%	2.14%	13.45%	44.51%	-37.17%	5.65%	66.41%	24.43%	7.17%	5.29%

Correlation

The correlation between VVL.TO and CYBR.TO is 0.25, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.25
Correlation (3Y) Balances recent behavior with more history.	0.32
Correlation (5Y) Shows whether the relationship held over a longer period.	0.39
Correlation (All Time) Calculated using the full available price history since Sep 21, 2017	0.33

The correlation between VVL.TO and CYBR.TO shifts across timeframes, from 0.25 (1 year) to 0.39 (5 years), reflecting how their relationship changes across market environments.

VVL.TO vs. CYBR.TO - Sectors Allocation Comparison

Sectors	VVL.TO	CYBR.TO
Financial Services	25.3%	-
Consumer Cyclical	14.8%	-
Healthcare	10.8%	-
Technology	10.5%	87.4%
Industrials	9.8%	2.2%
Energy	9.4%	-
Consumer Defensive	6.5%	-
Communication Services	6.1%	10.0%
Basic Materials	6.0%	-
Real Estate	0.9%	0.4%
Utilities	0.0%	-

Return for Risk

VVL.TO vs. CYBR.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VVL.TO

VVL.TO Risk / Return Rank: 91
VVL.TO Sharpe Ratio Rank: 92
VVL.TO Sortino Ratio Rank: 93
VVL.TO Omega Ratio Rank: 91
VVL.TO Calmar Ratio Rank: 90
VVL.TO Martin Ratio Rank: 91

CYBR.TO

CYBR.TO Risk / Return Rank: 27
CYBR.TO Sharpe Ratio Rank: 29
CYBR.TO Sortino Ratio Rank: 30
CYBR.TO Omega Ratio Rank: 29
CYBR.TO Calmar Ratio Rank: 25
CYBR.TO Martin Ratio Rank: 22

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VVL.TO vs. CYBR.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Global Value Factor ETF (VVL.TO) and Evolve Cyber Security Index Fund - Hedged Units (CYBR.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.

	VVL.TO	CYBR.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.48	0.71	+1.77
Sortino ratio: Return per unit of downside risk	3.55	1.14	+2.41
Omega ratio: Gain probability vs. loss probability	1.44	1.14	+0.30
Calmar ratio: Return relative to maximum drawdown	3.88	0.76	+3.12
Martin ratio: Return relative to average drawdown	15.44	1.59	+13.85

VVL.TO vs. CYBR.TO - Sharpe Ratio Comparison

The current VVL.TO Sharpe Ratio is 2.48, which is higher than the CYBR.TO Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of VVL.TO and CYBR.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VVL.TO vs. CYBR.TO - Drawdown Comparison

The maximum VVL.TO drawdown since its inception was -43.88%, roughly equal to the maximum CYBR.TO drawdown of -44.40%. Use the drawdown chart below to compare losses from any high point for VVL.TO and CYBR.TO.

Drawdown Indicators

	VVL.TO	CYBR.TO	Difference
Max Drawdown Largest peak-to-trough decline	-43.88%	-44.40%	+0.52%
Max Drawdown (1Y) Largest decline over 1 year	-8.83%	-28.10%	+19.27%
Max Drawdown (3Y) Largest decline over 3 years	-18.07%	-28.10%	+10.03%
Max Drawdown (5Y) Largest decline over 5 years	-18.07%	-44.40%	+26.33%
Max Drawdown (10Y) Largest decline over 10 years	-43.88%	—	—
Current Drawdown Current decline from peak	-1.33%	-7.21%	+5.88%
Average Drawdown Average peak-to-trough decline	-5.71%	-12.68%	+6.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.22%	13.35%	-11.13%

Volatility

VVL.TO vs. CYBR.TO - Volatility Comparison

The current volatility for Vanguard Global Value Factor ETF (VVL.TO) is 3.73%, while Evolve Cyber Security Index Fund - Hedged Units (CYBR.TO) has a volatility of 8.61%. This indicates that VVL.TO experiences smaller price fluctuations and is considered to be less risky than CYBR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VVL.TO	CYBR.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	8.61%	-4.88%
Volatility (6M) Calculated over the trailing 6-month period	9.47%	25.60%	-16.13%
Volatility (1Y) Calculated over the trailing 1-year period	13.85%	29.98%	-16.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.10%	27.91%	-11.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.78%	26.64%	-7.86%

VVL.TO vs. CYBR.TO - Expense Ratio Comparison

VVL.TO has a 0.38% expense ratio, which is lower than CYBR.TO's 0.60% expense ratio.

Dividends

VVL.TO vs. CYBR.TO - Dividend Comparison

VVL.TO's dividend yield for the trailing twelve months is around 1.58%, more than CYBR.TO's 0.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CYBR.TO Evolve Cyber Security Index Fund - Hedged Units	0.18%	0.23%	0.24%	0.27%	0.39%	0.22%	0.13%	0.21%	0.26%	0.00%	0.00%
VVL.TO Vanguard Global Value Factor ETF	1.58%	1.89%	2.19%	2.69%	2.57%	1.50%	1.70%	2.65%	2.15%	1.35%	0.60%

Frequently Asked Questions

Can I hold both VVL.TO and CYBR.TO in my portfolio?

VVL.TO and CYBR.TO have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VVL.TO or CYBR.TO?

On fees, VVL.TO is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VVL.TO or CYBR.TO?

VVL.TO is cheaper with a 0.38% expense ratio, compared with 0.60% for CYBR.TO.

What is the main difference between VVL.TO and CYBR.TO?

VVL.TO is categorized as Global Equities, while CYBR.TO is Cybersecurity. They also come from different issuers: Vanguard and Evolve. Their fees differ too: 0.38% for VVL.TO and 0.60% for CYBR.TO.