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Compare iShares S&P/TSX Canadian Dividend Aristocrats Index ETF (CDZ) vs Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY) to find the best fit for your portfolio. CDZ provides Finance, Energy, and Industrials exposures, while VDY is primarily weighted in Finance, Energy, and Utilities. When evaluating costs, CDZ features a management fee (MER) of 0.6%, compared to 0.2% for VDY. Performance-wise, CDZ has returned 18.2% year-to-date with +$11 M in net flows, whereas VDY is at 27.93% with +$2 B. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.
NAV Performance and Flows
Key Data
Compare
CDZ
VDY
| AuM | $1,278.19 M | $9,064.41 M |
| Management Fees | 0.60% | 0.20% |
| Exp. ratio | 0.66% | 0.22% |
| Tracking Difference | -0.94% | -0.05% |
Historical performance and flows
As of July 29, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | CDZ | +3.17% | +9.03% | +18.20% | +27.97% | +75.14% |
VDY | +2.73% | +12.25% | +27.93% | +52.16% | +115.59% | |
| Flows | CDZ | +$5 M | +$18 M | +$11 M | +$45 M | -$94 M |
VDY | +$308 M | +$883 M | +$1,855 M | +$2,582 M | +$3,796 M |
CDZ vs VDY exposure
Countries
CDZ
Canada
97.30%
VDY
Canada
96.84%
Sectors
CDZ
Finance
29.34%
Energy
18.40%
Industrials
14.54%
Utilities
9.33%
Consumer Non-Cyclicals
7.21%
Telecommunications
7.08%
Other
14.10%
VDY
Finance
60.97%
Energy
26.69%
Other
12.34%
As of July 29, 2026
Top 10 Holdings
CDZ
South Bow Corp.
3.16%
Westshore Terminals Investment Corp.
2.48%
Gibson Energy, Inc.
2.47%
TELUS Corp.
2.42%
Mullen Group Ltd.
2.25%
Enbridge, Inc.
2.24%
Pembina Pipeline Corp.
2.12%
CT Real Estate Investment Trust
2.03%
Capital Power Corp.
1.93%
Canadian Natural Resources Ltd.
1.84%
VDY
Royal Bank of Canada
16.31%
The Toronto-Dominion Bank
11.45%
Bank of Montreal
7.03%
Enbridge, Inc.
6.66%
The Bank of Nova Scotia
6.03%
Canadian Imperial Bank of Commerce
5.96%
Canadian Natural Resources Ltd.
4.55%
TC Energy Corp.
3.88%
Manulife Financial Corp.
3.82%
Suncor Energy, Inc.
3.60%
Diversification
CDZ
Total weight of top 10 holdings out of 96 total
22.95%
VDY
Total weight of top 10 holdings out of 60 total
69.29%
Characteristics
Compare
CDZ
VDY
| Provider | iShares | Vanguard |
| Management | Passively managed | Passively managed |
| Benchmark | S&P/TSX Canadian Dividend Aristocrats Total Return Index - CAD | FTSE Canada High Dividend Yield Net Tax Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.93% | 3.22% |
| Meets ESG criteria | No | No |
| Inception Date | September 8, 2006 | November 2, 2012 |
Frequently asked questions about CDZ and VDY
Which ETF has performed better year to date: CDZ or VDY?
As of July 29, 2026, CDZ has returned 18.20% year to date, while VDY has returned 27.93%. VDY is ahead on YTD performance.
Which ETF is larger by assets under management: CDZ or VDY?
As of July 29, 2026, CDZ manages $1.28 B in assets, while VDY manages $9.06 B. VDY is the larger fund by AUM.
How are CDZ and VDY managed?
CDZ is passively managed by iShares. It tracks the S&P/TSX Canadian Dividend Aristocrats Total Return Index - CAD benchmark. VDY is passively managed by Vanguard. It tracks the FTSE Canada High Dividend Yield Net Tax Index - CAD benchmark.
What sectors do CDZ and VDY emphasize?
CDZ is most exposed to Finance, Energy, and Industrials. VDY is most exposed to Finance, Energy, and Utilities.
Which ETF is attracting more investor flows: CDZ or VDY?
Year to date, CDZ has seen +$10.75 M in net flows, compared with +$1,854.82 M for VDY. VDY has attracted more net investor money so far.
How do the fees of CDZ and VDY compare?
CDZ has an expense ratio of 0.66%, while VDY has an expense ratio of 0.22%.
What are the top holdings of CDZ and VDY?
CDZ's largest holdings include South Bow Corp., Westshore Terminals Investment Corp., and Gibson Energy, Inc.. VDY's top holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and Bank of Montreal.
Which ETF is more diversified: CDZ or VDY?
CDZ holds 96 securities, while VDY holds 60. On holdings count, CDZ is the more diversified portfolio.
Recent articles about CDZ and VDY
ETF Comparison: VDY vs XEI
Sector exposure, diversification, and tracking efficiency separate these two dividend ETF heavyweights.
Posted on 6/1/2026 by Kyle Anthony inDividends
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