XBAL.TO vs. VDY.TO
XBAL.TO (iShares Core Balanced ETF Portfolio) and VDY.TO (Vanguard FTSE Canadian High Dividend Yield Index ETF) are both exchange-traded funds - XBAL.TO is a Diversified Portfolio fund actively managed by iShares, while VDY.TO is a Dividend fund tracking the FTSE Canada High Dividend Yield Index. XBAL.TO is actively managed, while VDY.TO is passively managed. Over the past 10 years, XBAL.TO returned 7.66%/yr vs 14.58%/yr for VDY.TO. A 0.55 correlation means they provide meaningful diversification when combined. XBAL.TO charges 0.20%/yr vs 0.22%/yr for VDY.TO.
Performance
XBAL.TO vs. VDY.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XBAL.TO achieves a 7.90% return, which is significantly lower than VDY.TO's 23.81% return. Over the past 10 years, XBAL.TO has underperformed VDY.TO with an annualized return of 7.66%, while VDY.TO has yielded a comparatively higher 14.58% annualized return.
XBAL.TO
- 1D
- 0.53%
- 1M
- 2.87%
- YTD
- 7.90%
- 6M
- 6.86%
- 1Y
- 18.03%
- 3Y*
- 14.22%
- 5Y*
- 8.02%
- 10Y*
- 7.66%
VDY.TO
- 1D
- 0.65%
- 1M
- 5.11%
- YTD
- 23.81%
- 6M
- 23.43%
- 1Y
- 49.57%
- 3Y*
- 27.42%
- 5Y*
- 17.91%
- 10Y*
- 14.58%
XBAL.TO vs. VDY.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XBAL.TO iShares Core Balanced ETF Portfolio | 7.90% | 11.90% | 15.80% | 13.05% | -11.16% | 10.16% | 10.73% | 15.34% | -2.73% | 5.55% |
VDY.TO Vanguard FTSE Canadian High Dividend Yield Index ETF | 23.81% | 29.21% | 21.44% | 8.41% | -0.23% | 36.60% | -1.37% | 21.42% | -10.09% | 8.32% |
Correlation
The correlation between XBAL.TO and VDY.TO is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2012 | 0.55 |
The correlation between XBAL.TO and VDY.TO shifts across timeframes, from 0.51 (1 year) to 0.61 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
XBAL.TO vs. VDY.TO — Risk / Return Rank
XBAL.TO
VDY.TO
XBAL.TO vs. VDY.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Balanced ETF Portfolio (XBAL.TO) and Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.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.
| XBAL.TO | VDY.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.02 | ||
| Sortino ratioReturn per unit of downside risk | -5.83 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 2.21 | -0.85 |
| Calmar ratioReturn relative to maximum drawdown | 2.84 | 15.94 | -13.10 |
| Martin ratioReturn relative to average drawdown | 11.82 | 64.95 | -53.12 |
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Drawdowns
XBAL.TO vs. VDY.TO - Drawdown Comparison
The maximum XBAL.TO drawdown since its inception was -28.55%, smaller than the maximum VDY.TO drawdown of -39.21%. Use the drawdown chart below to compare losses from any high point for XBAL.TO and VDY.TO.
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Drawdown Indicators
| XBAL.TO | VDY.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.55% | -39.21% | +10.66% |
Max Drawdown (1Y)Largest decline over 1 year | -6.06% | -3.12% | -2.94% |
Max Drawdown (3Y)Largest decline over 3 years | -9.34% | -10.38% | +1.04% |
Max Drawdown (5Y)Largest decline over 5 years | -17.10% | -16.17% | -0.93% |
Max Drawdown (10Y)Largest decline over 10 years | -20.93% | -39.21% | +18.28% |
Current DrawdownCurrent decline from peak | -0.36% | 0.00% | -0.36% |
Average DrawdownAverage peak-to-trough decline | -3.35% | -4.47% | +1.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.46% | 0.76% | +0.70% |
Volatility
XBAL.TO vs. VDY.TO - Volatility Comparison
iShares Core Balanced ETF Portfolio (XBAL.TO) has a higher volatility of 3.49% compared to Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) at 3.27%. This indicates that XBAL.TO's price experiences larger fluctuations and is considered to be riskier than VDY.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XBAL.TO | VDY.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.49% | 3.27% | +0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 7.46% | 6.96% | +0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.76% | 8.32% | +0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.84% | 11.58% | -2.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.78% | 15.95% | -6.17% |
XBAL.TO vs. VDY.TO - Expense Ratio Comparison
XBAL.TO has a 0.20% expense ratio, which is lower than VDY.TO's 0.22% 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%.
Dividends
XBAL.TO vs. VDY.TO - Dividend Comparison
XBAL.TO's dividend yield for the trailing twelve months is around 2.11%, less than VDY.TO's 2.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VDY.TO Vanguard FTSE Canadian High Dividend Yield Index ETF | 2.83% | 3.59% | 4.37% | 4.64% | 4.42% | 3.46% | 4.59% | 4.25% | 4.44% | 3.42% | 3.25% | 4.11% |
XBAL.TO iShares Core Balanced ETF Portfolio | 2.11% | 2.27% | 2.72% | 2.43% | 2.12% | 1.78% | 2.04% | 2.31% | 3.47% | 3.00% | 3.72% | 3.38% |
Frequently Asked Questions
XBAL.TO and VDY.TO have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XBAL.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XBAL.TO is cheaper with a 0.20% expense ratio, compared with 0.22% for VDY.TO.
XBAL.TO is categorized as Diversified Portfolio, while VDY.TO is Dividend. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.20% for XBAL.TO and 0.22% for VDY.TO.
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