XCB.TO vs. VCB.TO
XCB.TO (iShares Core Canadian Corporate Bond Index ETF) and VCB.TO (Vanguard Canadian Corporate Bond Index ETF) are both Corporate Bonds funds - XCB.TO tracks the Morningstar Can Corp Bd GR CAD while VCB.TO tracks the Bloomberg Global Aggregate Canadian Corporate Float Adjusted Bond Index. Both are passively managed. Over the past 5 years, XCB.TO returned 2.30%/yr vs 2.32%/yr for VCB.TO. A 0.63 correlation means they provide meaningful diversification when combined. Both charge a 0.17% expense ratio.
Performance
XCB.TO vs. VCB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XCB.TO achieves a 1.75% return, which is significantly higher than VCB.TO's 1.58% return.
XCB.TO
- 1D
- -0.10%
- 1M
- 1.66%
- YTD
- 1.75%
- 6M
- 1.49%
- 1Y
- 4.27%
- 3Y*
- 6.23%
- 5Y*
- 2.30%
- 10Y*
- 2.77%
VCB.TO
- 1D
- 0.04%
- 1M
- 1.53%
- YTD
- 1.58%
- 6M
- 1.39%
- 1Y
- 4.28%
- 3Y*
- 6.09%
- 5Y*
- 2.32%
- 10Y*
- —
XCB.TO vs. VCB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XCB.TO iShares Core Canadian Corporate Bond Index ETF | 1.75% | 4.45% | 6.72% | 8.30% | -9.79% | -1.81% | 8.36% | 7.90% | 0.39% | 2.01% |
VCB.TO Vanguard Canadian Corporate Bond Index ETF | 1.58% | 4.46% | 6.63% | 7.98% | -8.96% | -1.55% | 8.11% | 6.20% | 0.28% | 1.75% |
Correlation
The correlation between XCB.TO and VCB.TO is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2017 | 0.63 |
Over the past year, XCB.TO and VCB.TO have become more correlated (0.86) than their long-term average of 0.63, meaning their price movements have been converging.
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Return for Risk
XCB.TO vs. VCB.TO — Risk / Return Rank
XCB.TO
VCB.TO
XCB.TO vs. VCB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Canadian Corporate Bond Index ETF (XCB.TO) and Vanguard Canadian Corporate Bond Index ETF (VCB.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.
| XCB.TO | VCB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.23 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 1.75 | -0.03 |
| Martin ratioReturn relative to average drawdown | 5.08 | 5.51 | -0.43 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XCB.TO | VCB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.15 | 1.26 | -0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | 0.48 | -0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.49 | +0.14 |
Drawdowns
XCB.TO vs. VCB.TO - Drawdown Comparison
The maximum XCB.TO drawdown since its inception was -22.59%, which is greater than VCB.TO's maximum drawdown of -13.99%. Use the drawdown chart below to compare losses from any high point for XCB.TO and VCB.TO.
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Drawdown Indicators
| XCB.TO | VCB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.59% | -13.99% | -8.60% |
Max Drawdown (1Y)Largest decline over 1 year | -2.49% | -2.45% | -0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -3.56% | -3.22% | -0.34% |
Max Drawdown (5Y)Largest decline over 5 years | -14.17% | -13.17% | -1.00% |
Max Drawdown (10Y)Largest decline over 10 years | -22.59% | — | — |
Current DrawdownCurrent decline from peak | -0.10% | -0.03% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -2.12% | -2.86% | +0.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 0.78% | +0.06% |
Volatility
XCB.TO vs. VCB.TO - Volatility Comparison
iShares Core Canadian Corporate Bond Index ETF (XCB.TO) has a higher volatility of 1.45% compared to Vanguard Canadian Corporate Bond Index ETF (VCB.TO) at 1.26%. This indicates that XCB.TO's price experiences larger fluctuations and is considered to be riskier than VCB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XCB.TO | VCB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.45% | 1.26% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 2.92% | 2.64% | +0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.74% | 3.42% | +0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.67% | 4.89% | +0.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.23% | 5.51% | +1.72% |
XCB.TO vs. VCB.TO - Expense Ratio Comparison
Both XCB.TO and VCB.TO have an expense ratio of 0.17%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
XCB.TO vs. VCB.TO - Dividend Comparison
XCB.TO's dividend yield for the trailing twelve months is around 4.13%, more than VCB.TO's 3.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VCB.TO Vanguard Canadian Corporate Bond Index ETF | 3.87% | 3.88% | 3.74% | 3.41% | 3.21% | 2.69% | 2.75% | 2.82% | 2.85% | 2.51% | 0.00% | 0.00% |
XCB.TO iShares Core Canadian Corporate Bond Index ETF | 4.13% | 4.10% | 4.00% | 3.69% | 3.55% | 3.01% | 2.75% | 2.95% | 3.10% | 3.07% | 3.19% | 3.31% |
Frequently Asked Questions
XCB.TO and VCB.TO have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.17% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
XCB.TO and VCB.TO have the same expense ratio: 0.17% per year.
XCB.TO tracks Morningstar Can Corp Bd GR CAD, while VCB.TO tracks Bloomberg Global Aggregate Canadian Corporate Float Adjusted Bond Index. They also come from different issuers: iShares and Vanguard.
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