XFLB.TO vs. VGV.TO
XFLB.TO (iShares Core Canadian 15+ Year Federal Bond Index ETF) and VGV.TO (Vanguard Canadian Government Bond Index ETF) are both Canadian Government Bonds funds - XFLB.TO tracks the Morningstar Can 10+Y Core Bd GR CAD while VGV.TO tracks the Bloomberg Global Aggregate Canadian Government Float Adjusted Bond Index. Both are passively managed. Over the past 3 years, XFLB.TO returned -0.76%/yr vs 3.58%/yr for VGV.TO. A 0.65 correlation means they provide meaningful diversification when combined. Both charge a 0.17% expense ratio.
Performance
XFLB.TO vs. VGV.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XFLB.TO achieves a -0.13% return, which is significantly lower than VGV.TO's 1.17% return.
XFLB.TO
- 1D
- -0.43%
- 1M
- -2.21%
- 6M
- -1.55%
- YTD
- -0.13%
- 1Y
- 2.13%
- 3Y*
- -0.76%
- 5Y*
- —
- 10Y*
- —
VGV.TO
- 1D
- -0.05%
- 1M
- -0.74%
- 6M
- 0.45%
- YTD
- 1.17%
- 1Y
- 4.10%
- 3Y*
- 3.58%
- 5Y*
- -0.32%
- 10Y*
- —
XFLB.TO vs. VGV.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XFLB.TO iShares Core Canadian 15+ Year Federal Bond Index ETF | -0.13% | -6.17% | -2.12% | 4.63% |
VGV.TO Vanguard Canadian Government Bond Index ETF | 1.17% | 1.90% | 3.24% | 3.28% |
Correlation
The correlation between XFLB.TO and VGV.TO is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2023 | 0.65 |
The correlation between XFLB.TO and VGV.TO has been stable across timeframes, ranging from 0.56 to 0.65 - a consistent structural relationship.
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Return for Risk
XFLB.TO vs. VGV.TO — Risk / Return Rank
XFLB.TO
VGV.TO
XFLB.TO vs. VGV.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Canadian 15+ Year Federal Bond Index ETF (XFLB.TO) and Vanguard Canadian Government Bond Index ETF (VGV.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.
| XFLB.TO | VGV.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.15 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.30 | 1.41 | -1.10 |
| Martin ratioReturn relative to average drawdown | 0.57 | 3.18 | -2.61 |
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Drawdowns
XFLB.TO vs. VGV.TO - Drawdown Comparison
The maximum XFLB.TO drawdown since its inception was -20.54%, roughly equal to the maximum VGV.TO drawdown of -20.77%. Use the drawdown chart below to compare losses from any high point for XFLB.TO and VGV.TO.
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Drawdown Indicators
| XFLB.TO | VGV.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.54% | -20.77% | +0.23% |
Max Drawdown (1Y)Largest decline over 1 year | -7.04% | -2.93% | -4.11% |
Max Drawdown (3Y)Largest decline over 3 years | -13.70% | -5.23% | -8.47% |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.94% | — |
Current DrawdownCurrent decline from peak | -11.57% | -6.90% | -4.67% |
Average DrawdownAverage peak-to-trough decline | -8.21% | -7.27% | -0.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.75% | 1.29% | +2.46% |
Volatility
XFLB.TO vs. VGV.TO - Volatility Comparison
iShares Core Canadian 15+ Year Federal Bond Index ETF (XFLB.TO) has a higher volatility of 2.45% compared to Vanguard Canadian Government Bond Index ETF (VGV.TO) at 1.37%. This indicates that XFLB.TO's price experiences larger fluctuations and is considered to be riskier than VGV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XFLB.TO | VGV.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.45% | 1.37% | +1.08% |
Volatility (6M)Calculated over the trailing 6-month period | 7.81% | 3.87% | +3.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.00% | 4.93% | +5.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.46% | 7.01% | +8.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.46% | 7.00% | +8.46% |
XFLB.TO vs. VGV.TO - Expense Ratio Comparison
Both XFLB.TO and VGV.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
XFLB.TO vs. VGV.TO - Dividend Comparison
XFLB.TO's dividend yield for the trailing twelve months is around 3.16%, which matches VGV.TO's 3.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
VGV.TO Vanguard Canadian Government Bond Index ETF | 3.15% | 3.04% | 2.97% | 2.78% | 2.63% | 2.35% | 2.28% | 2.36% | 2.52% | 2.16% |
XFLB.TO iShares Core Canadian 15+ Year Federal Bond Index ETF | 3.16% | 3.05% | 2.72% | 2.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XFLB.TO and VGV.TO have a correlation of 0.56, 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.
XFLB.TO and VGV.TO have the same expense ratio: 0.17% per year.
XFLB.TO tracks Morningstar Can 10+Y Core Bd GR CAD, while VGV.TO tracks Bloomberg Global Aggregate Canadian Government Float Adjusted Bond Index. They also come from different issuers: iShares and Vanguard.
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