XRB.TO vs. VDY.TO
XRB.TO (iShares Canadian Real Return Bond Index ETF) and VDY.TO (Vanguard FTSE Canadian High Dividend Yield Index ETF) are both exchange-traded funds - XRB.TO is a Inflation-Protected Bonds fund tracking the FTSE Canada Real Return Bond Index, while VDY.TO is a Dividend fund tracking the FTSE Canada High Dividend Yield Index. Both are passively managed. Over the past 10 years, XRB.TO returned 0.06%/yr vs 14.02%/yr for VDY.TO. At a correlation of -0.07, they often move in opposite directions. XRB.TO charges 0.39%/yr vs 0.22%/yr for VDY.TO.
Performance
XRB.TO vs. VDY.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XRB.TO achieves a 2.56% return, which is significantly lower than VDY.TO's 20.59% return. Over the past 10 years, XRB.TO has underperformed VDY.TO with an annualized return of 0.06%, while VDY.TO has yielded a comparatively higher 14.02% annualized return.
XRB.TO
- 1D
- -0.13%
- 1M
- 1.21%
- YTD
- 2.56%
- 6M
- 0.86%
- 1Y
- 3.06%
- 3Y*
- 1.50%
- 5Y*
- -1.66%
- 10Y*
- 0.06%
VDY.TO
- 1D
- -0.07%
- 1M
- 4.52%
- YTD
- 20.59%
- 6M
- 22.32%
- 1Y
- 46.18%
- 3Y*
- 26.00%
- 5Y*
- 17.21%
- 10Y*
- 14.02%
XRB.TO vs. VDY.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XRB.TO iShares Canadian Real Return Bond Index ETF | 2.56% | 0.05% | 3.95% | -2.15% | -15.01% | -1.30% | 12.11% | 5.93% | -1.23% | -0.11% |
VDY.TO Vanguard FTSE Canadian High Dividend Yield Index ETF | 20.59% | 29.20% | 20.71% | 8.40% | -0.23% | 36.78% | -1.37% | 21.43% | -10.09% | 8.75% |
Correlation
The correlation between XRB.TO and VDY.TO is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2012 | -0.07 |
The correlation between XRB.TO and VDY.TO shifts across timeframes, from -0.07 (all time) to 0.15 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XRB.TO vs. VDY.TO — Risk / Return Rank
XRB.TO
VDY.TO
XRB.TO vs. VDY.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Canadian Real Return Bond Index ETF (XRB.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.
| XRB.TO | VDY.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.20 | ||
| Sortino ratioReturn per unit of downside risk | -7.47 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 2.14 | -1.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.87 | 14.88 | -14.02 |
| Martin ratioReturn relative to average drawdown | 1.73 | 60.75 | -59.02 |
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
| XRB.TO | VDY.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.45 | 5.65 | -5.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.14 | 1.50 | -1.64 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.01 | 0.88 | -0.88 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.84 | -0.57 |
Drawdowns
XRB.TO vs. VDY.TO - Drawdown Comparison
The maximum XRB.TO drawdown since its inception was -26.58%, smaller than the maximum VDY.TO drawdown of -39.21%. Use the drawdown chart below to compare losses from any high point for XRB.TO and VDY.TO.
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Drawdown Indicators
| XRB.TO | VDY.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.58% | -39.21% | +12.63% |
Max Drawdown (1Y)Largest decline over 1 year | -3.55% | -3.12% | -0.43% |
Max Drawdown (3Y)Largest decline over 3 years | -10.65% | -10.87% | +0.22% |
Max Drawdown (5Y)Largest decline over 5 years | -26.58% | -16.18% | -10.40% |
Max Drawdown (10Y)Largest decline over 10 years | -26.58% | -39.21% | +12.63% |
Current DrawdownCurrent decline from peak | -13.56% | -0.77% | -12.79% |
Average DrawdownAverage peak-to-trough decline | -7.09% | -4.61% | -2.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.78% | 0.76% | +1.02% |
Volatility
XRB.TO vs. VDY.TO - Volatility Comparison
The current volatility for iShares Canadian Real Return Bond Index ETF (XRB.TO) is 2.72%, while Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) has a volatility of 3.31%. This indicates that XRB.TO experiences smaller price fluctuations and is considered to be less risky 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
| XRB.TO | VDY.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.72% | 3.31% | -0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 5.11% | 6.87% | -1.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.85% | 8.21% | -1.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.91% | 11.56% | +0.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.35% | 15.96% | -4.61% |
XRB.TO vs. VDY.TO - Expense Ratio Comparison
XRB.TO has a 0.39% expense ratio, which is higher than VDY.TO's 0.22% expense ratio.
Dividends
XRB.TO vs. VDY.TO - Dividend Comparison
XRB.TO's dividend yield for the trailing twelve months is around 3.63%, more than VDY.TO's 2.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VDY.TO Vanguard FTSE Canadian High Dividend Yield Index ETF | 2.90% | 3.59% | 4.40% | 4.64% | 4.42% | 3.58% | 4.59% | 4.25% | 4.43% | 3.82% | 3.25% | 4.11% |
XRB.TO iShares Canadian Real Return Bond Index ETF | 3.63% | 3.73% | 2.36% | 2.36% | 1.83% | 1.23% | 1.36% | 1.72% | 1.74% | 1.69% | 1.58% | 1.61% |
Frequently Asked Questions
XRB.TO and VDY.TO have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VDY.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VDY.TO is cheaper with a 0.22% expense ratio, compared with 0.39% for XRB.TO.
XRB.TO is categorized as Inflation-Protected Bonds, while VDY.TO is Dividend. XRB.TO tracks FTSE Canada Real Return Bond Index, while VDY.TO tracks FTSE Canada High Dividend Yield Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.39% for XRB.TO and 0.22% for VDY.TO.
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