VVSG.TO vs. PMNT.TO
VVSG.TO (Vanguard Canadian Ultra-Short Government Bond Index ETF) and PMNT.TO (PIMCO Global Short Maturity Fund (Canada)) are both exchange-traded funds - VVSG.TO is a Canadian Government Bonds fund tracking the Bloomberg Canadian Short Treasury 1-12M Float Adjusted Index, while PMNT.TO is a Ultrashort Bond fund actively managed by PIMCO. VVSG.TO is passively managed, while PMNT.TO is actively managed. Over the past year, VVSG.TO returned 2.39% vs 3.01% for PMNT.TO. Their 0.03 correlation means their historical movements had little consistent relationship. VVSG.TO charges 0.12%/yr vs 0.39%/yr for PMNT.TO.
Performance
VVSG.TO vs. PMNT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, VVSG.TO achieves a 1.28% return, which is significantly lower than PMNT.TO's 1.69% return.
VVSG.TO
- 1D
- 0.02%
- 1M
- 0.16%
- 6M
- 1.06%
- YTD
- 1.28%
- 1Y
- 2.39%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.81%
PMNT.TO
- 1D
- 0.05%
- 1M
- 0.15%
- 6M
- 1.46%
- YTD
- 1.69%
- 1Y
- 3.01%
- 3Y*
- 4.13%
- 5Y*
- 2.97%
- 10Y*
- —
- ALL TIME*
- 2.53%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$78.37K | CA$50.53K | CA$54.61K | |
| CA$194.30K | CA$244.08K | CA$304.69K |
VVSG.TO vs. PMNT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
VVSG.TO Vanguard Canadian Ultra-Short Government Bond Index ETF | 1.28% | 2.80% | 1.20% |
PMNT.TO PIMCO Global Short Maturity Fund (Canada) | 1.69% | 3.11% | 1.32% |
Correlation
The correlation between VVSG.TO and PMNT.TO is 0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.01 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2024 | 0.03 |
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Return for Risk
VVSG.TO vs. PMNT.TO — Risk / Return Rank
VVSG.TO
PMNT.TO
VVSG.TO vs. PMNT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Canadian Ultra-Short Government Bond Index ETF (VVSG.TO) and PIMCO Global Short Maturity Fund (Canada) (PMNT.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.
| VVSG.TO | PMNT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +5.44 | ||
| Sortino ratioReturn per unit of downside risk | +11.20 | ||
| Omega ratioGain probability vs. loss probability | 4.66 | 1.45 | +3.21 |
| Calmar ratioReturn relative to maximum drawdown | 17.56 | 4.80 | +12.76 |
| Martin ratioReturn relative to average drawdown | 214.73 | 15.95 | +198.78 |
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Drawdowns
VVSG.TO vs. PMNT.TO - Drawdown Comparison
The maximum VVSG.TO drawdown since its inception was -0.14%, smaller than the maximum PMNT.TO drawdown of -6.81%. Use the drawdown chart below to compare losses from any high point for VVSG.TO and PMNT.TO.
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Drawdown Indicators
| VVSG.TO | PMNT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.14% | -6.81% | +6.67% |
Max Drawdown (1Y)Largest decline over 1 year | -0.14% | -0.63% | +0.49% |
Max Drawdown (3Y)Largest decline over 3 years | — | -1.15% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -1.94% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | 0.00% | -0.36% | +0.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.19% | -0.18% |
Volatility
VVSG.TO vs. PMNT.TO - Volatility Comparison
The current volatility for Vanguard Canadian Ultra-Short Government Bond Index ETF (VVSG.TO) is 0.07%, while PIMCO Global Short Maturity Fund (Canada) (PMNT.TO) has a volatility of 0.28%. This indicates that VVSG.TO experiences smaller price fluctuations and is considered to be less risky than PMNT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VVSG.TO | PMNT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.07% | 0.28% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 0.19% | 0.71% | -0.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.34% | 1.70% | -1.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.35% | 2.13% | -1.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.35% | 3.18% | -2.83% |
VVSG.TO vs. PMNT.TO - Expense Ratio Comparison
VVSG.TO has a 0.12% expense ratio, which is lower than PMNT.TO's 0.39% expense ratio.
Dividends
VVSG.TO vs. PMNT.TO - Dividend Comparison
VVSG.TO's dividend yield for the trailing twelve months is around 2.18%, less than PMNT.TO's 4.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
PMNT.TO PIMCO Global Short Maturity Fund (Canada) | 4.38% | 4.65% | 5.48% | 4.92% | 2.60% | 1.17% | 2.68% | 2.09% |
VVSG.TO Vanguard Canadian Ultra-Short Government Bond Index ETF | 2.18% | 2.50% | 0.73% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VVSG.TO and PMNT.TO have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VVSG.TO is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VVSG.TO is cheaper with a 0.12% expense ratio, compared with 0.39% for PMNT.TO.
VVSG.TO is categorized as Canadian Government Bonds, while PMNT.TO is Ultrashort Bond. They also come from different issuers: Vanguard and PIMCO. Their fees differ too: 0.12% for VVSG.TO and 0.39% for PMNT.TO.
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