XCB.TO vs. VCIP.TO
XCB.TO (iShares Core Canadian Corporate Bond Index ETF) and VCIP.TO (Vanguard Conservative Income ETF Portfolio) are both exchange-traded funds - XCB.TO is a Corporate Bonds fund tracking the Morningstar Can Corp Bd GR CAD, while VCIP.TO is a Diversified Portfolio fund actively managed by Vanguard. XCB.TO is passively managed, while VCIP.TO is actively managed. Over the past 5 years, XCB.TO returned 2.30%/yr vs 2.56%/yr for VCIP.TO. A 0.73 correlation means they provide meaningful diversification when combined. XCB.TO charges 0.17%/yr vs 0.25%/yr for VCIP.TO.
Performance
XCB.TO vs. VCIP.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 lower than VCIP.TO's 3.28% 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%
VCIP.TO
- 1D
- -0.24%
- 1M
- 2.22%
- YTD
- 3.28%
- 6M
- 2.14%
- 1Y
- 7.45%
- 3Y*
- 6.78%
- 5Y*
- 2.56%
- 10Y*
- —
XCB.TO vs. VCIP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XCB.TO iShares Core Canadian Corporate Bond Index ETF | 1.75% | 4.45% | 6.72% | 8.30% | -9.79% | -1.81% | 8.36% | 6.08% |
VCIP.TO Vanguard Conservative Income ETF Portfolio | 3.28% | 5.36% | 6.89% | 8.31% | -12.19% | 1.41% | 8.46% | 7.24% |
Correlation
The correlation between XCB.TO and VCIP.TO is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Feb 6, 2019 | 0.73 |
The correlation between XCB.TO and VCIP.TO has been stable across timeframes, ranging from 0.73 to 0.81 - a consistent structural relationship.
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Return for Risk
XCB.TO vs. VCIP.TO — Risk / Return Rank
XCB.TO
VCIP.TO
XCB.TO vs. VCIP.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 Conservative Income ETF Portfolio (VCIP.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 | VCIP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.30 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 1.97 | -0.25 |
| Martin ratioReturn relative to average drawdown | 5.08 | 6.71 | -1.63 |
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 | VCIP.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.15 | 1.59 | -0.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | 0.45 | -0.04 |
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 | 0.59 | +0.04 |
Drawdowns
XCB.TO vs. VCIP.TO - Drawdown Comparison
The maximum XCB.TO drawdown since its inception was -22.59%, which is greater than VCIP.TO's maximum drawdown of -15.88%. Use the drawdown chart below to compare losses from any high point for XCB.TO and VCIP.TO.
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Drawdown Indicators
| XCB.TO | VCIP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.59% | -15.88% | -6.71% |
Max Drawdown (1Y)Largest decline over 1 year | -2.49% | -3.80% | +1.31% |
Max Drawdown (3Y)Largest decline over 3 years | -3.56% | -4.64% | +1.08% |
Max Drawdown (5Y)Largest decline over 5 years | -14.17% | -15.88% | +1.71% |
Max Drawdown (10Y)Largest decline over 10 years | -22.59% | — | — |
Current DrawdownCurrent decline from peak | -0.10% | -0.24% | +0.14% |
Average DrawdownAverage peak-to-trough decline | -2.12% | -3.61% | +1.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 1.11% | -0.27% |
Volatility
XCB.TO vs. VCIP.TO - Volatility Comparison
The current volatility for iShares Core Canadian Corporate Bond Index ETF (XCB.TO) is 1.45%, while Vanguard Conservative Income ETF Portfolio (VCIP.TO) has a volatility of 1.86%. This indicates that XCB.TO experiences smaller price fluctuations and is considered to be less risky than VCIP.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 | VCIP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.45% | 1.86% | -0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 2.92% | 3.94% | -1.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.74% | 4.70% | -0.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.67% | 5.72% | -0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.23% | 6.25% | +0.98% |
XCB.TO vs. VCIP.TO - Expense Ratio Comparison
XCB.TO has a 0.17% expense ratio, which is lower than VCIP.TO's 0.25% 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
XCB.TO vs. VCIP.TO - Dividend Comparison
XCB.TO's dividend yield for the trailing twelve months is around 4.13%, more than VCIP.TO's 2.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VCIP.TO Vanguard Conservative Income ETF Portfolio | 2.87% | 2.93% | 2.89% | 2.75% | 2.28% | 2.22% | 1.85% | 2.07% | 0.00% | 0.00% | 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 VCIP.TO have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XCB.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XCB.TO is cheaper with a 0.17% expense ratio, compared with 0.25% for VCIP.TO.
XCB.TO is categorized as Corporate Bonds, while VCIP.TO is Diversified Portfolio. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.17% for XCB.TO and 0.25% for VCIP.TO.
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