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ZQB.TO vs. VAB.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZQB.TO vs. VAB.TO

Last updated Jul 1, 2026
See Documentation

ZQB.TO (BMO High Quality Corporate Bond Index ETF) and VAB.TO (Vanguard Canadian Aggregate Bond Index ETF) are both exchange-traded funds - ZQB.TO is a Corporate Bonds fund managed by BMO, while VAB.TO is a Total Bond Market fund tracking the Bloomberg Global Aggregate Canadian Float Adjusted Bond Index. Over the past 5 years, ZQB.TO returned 2.46%/yr vs 0.43%/yr for VAB.TO. At a 0.39 correlation, their price movements are largely independent.

Performance

ZQB.TO vs. VAB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO High Quality Corporate Bond Index ETF (ZQB.TO) and Vanguard Canadian Aggregate Bond Index ETF (VAB.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ZQB.TO achieves a 1.59% return, which is significantly lower than VAB.TO's 2.13% return.

ZQB.TO

1D
-0.17%
1M
0.26%
YTD
1.59%
6M
1.56%
1Y
3.80%
3Y*
6.05%
5Y*
2.46%
10Y*
—

VAB.TO

1D
-0.04%
1M
0.44%
YTD
2.13%
6M
2.04%
1Y
3.18%
3Y*
3.84%
5Y*
0.43%
10Y*
1.38%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZQB.TO vs. VAB.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
ZQB.TO
BMO High Quality Corporate Bond Index ETF		1.59%4.80%6.78%6.49%-5.39%-2.02%5.33%
VAB.TO
Vanguard Canadian Aggregate Bond Index ETF		2.13%2.00%3.26%6.90%-11.86%-2.88%5.52%

Correlation

The correlation between ZQB.TO and VAB.TO is 0.58, 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

0.58

Correlation (3Y)
Calculated over the trailing 3-year period

0.54

Correlation (5Y)
Calculated over the trailing 5-year period

0.42

Correlation (All Time)
Calculated using the full available price history since Feb 12, 2020

0.39

The correlation between ZQB.TO and VAB.TO shifts across timeframes, from 0.39 (all time) to 0.58 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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BMO High Quality Corporate Bond Index ETF

Vanguard Canadian Aggregate Bond Index ETF

Often compared with VAB.TO:
VAB.TO vs. ZAG.TOVAB.TO vs. XBB.TOVAB.TO vs. XCB.TOVAB.TO vs. VSB.TOVAB.TO vs. VFV.TOVAB.TO vs. VEQT.TOVAB.TO vs. TLT

Return for Risk

ZQB.TO vs. VAB.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZQB.TO
ZQB.TO Risk / Return Rank: 5858
Overall Rank
ZQB.TO Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
ZQB.TO Sortino Ratio Rank: 6161
Sortino Ratio Rank
ZQB.TO Omega Ratio Rank: 6868
Omega Ratio Rank
ZQB.TO Calmar Ratio Rank: 4949
Calmar Ratio Rank
ZQB.TO Martin Ratio Rank: 5151
Martin Ratio Rank
VAB.TO
VAB.TO Risk / Return Rank: 2222
Overall Rank
VAB.TO Sharpe Ratio Rank: 2222
Sharpe Ratio Rank
VAB.TO Sortino Ratio Rank: 1919
Sortino Ratio Rank
VAB.TO Omega Ratio Rank: 1919
Omega Ratio Rank
VAB.TO Calmar Ratio Rank: 2525
Calmar Ratio Rank
VAB.TO Martin Ratio Rank: 2323
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ZQB.TO vs. VAB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO High Quality Corporate Bond Index ETF (ZQB.TO) and Vanguard Canadian Aggregate Bond Index ETF (VAB.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.

ZQB.TOVAB.TODifference
Sharpe ratioReturn per unit of total volatility
1.72
0.73

+0.99

Sortino ratioReturn per unit of downside risk
2.46
1.01

+1.45

Omega ratioGain probability vs. loss probability

1.35

1.13

+0.22

Calmar ratioReturn relative to maximum drawdown

2.13

1.13

+1.00

Martin ratioReturn relative to average drawdown

7.54

2.79

+4.75

ZQB.TO vs. VAB.TO - Sharpe Ratio Comparison

The current ZQB.TO Sharpe Ratio is 1.72, which is higher than the VAB.TO Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of ZQB.TO and VAB.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

ZQB.TO vs. VAB.TO - Drawdown Comparison

The maximum ZQB.TO drawdown since its inception was -10.18%, smaller than the maximum VAB.TO drawdown of -18.39%. Use the drawdown chart below to compare losses from any high point for ZQB.TO and VAB.TO.

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Drawdown Indicators

ZQB.TOVAB.TODifference

Max Drawdown

Largest peak-to-trough decline

-10.18%

-18.39%

+8.21%

Max Drawdown (1Y)

Largest decline over 1 year

-1.79%

-2.83%

+1.04%

Max Drawdown (3Y)

Largest decline over 3 years

-1.79%

-5.31%

+3.52%

Max Drawdown (5Y)

Largest decline over 5 years

-9.64%

-15.82%

+6.18%

Max Drawdown (10Y)

Largest decline over 10 years

—

-18.39%

—

Current Drawdown

Current decline from peak

-0.17%

-2.38%

+2.21%

Average Drawdown

Average peak-to-trough decline

-2.34%

-4.20%

+1.86%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.51%

1.20%

-0.69%

Volatility

ZQB.TO vs. VAB.TO - Volatility Comparison

The current volatility for BMO High Quality Corporate Bond Index ETF (ZQB.TO) is 0.70%, while Vanguard Canadian Aggregate Bond Index ETF (VAB.TO) has a volatility of 1.04%. This indicates that ZQB.TO experiences smaller price fluctuations and is considered to be less risky than VAB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZQB.TOVAB.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.70%

1.04%

-0.34%

Volatility (6M)

Calculated over the trailing 6-month period

1.79%

3.35%

-1.56%

Volatility (1Y)

Calculated over the trailing 1-year period

2.21%

4.38%

-2.17%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.51%

6.59%

-3.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.18%

6.47%

-2.29%

Dividends

ZQB.TO vs. VAB.TO - Dividend Comparison

ZQB.TO's dividend yield for the trailing twelve months is around 3.92%, more than VAB.TO's 3.30% yield.

PositionTTM20252024202320222021202020192018201720162015
VAB.TO
Vanguard Canadian Aggregate Bond Index ETF		3.30%3.05%2.50%2.95%2.87%2.48%2.51%2.65%2.80%2.77%2.75%2.79%
ZQB.TO
BMO High Quality Corporate Bond Index ETF		3.92%3.67%3.39%3.00%2.80%2.58%2.46%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

ZQB.TO and VAB.TO have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ZQB.TO is categorized as Corporate Bonds, while VAB.TO is Total Bond Market. They also come from different issuers: BMO and Vanguard.

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