VS
Compare Manulife Smart Global Bond ETF (GBND) vs Vanguard Global ex-U.S. Aggregate Bond Index ETF (VBG) to find the best fit for your portfolio. GBND and VBG provide the same top sector exposures: Sovereign, Finance, and Municipal. When evaluating costs, GBND features a management fee (MER) of 0.4%, compared to 0.35% for VBG. Performance-wise, GBND has returned 1.63% year-to-date with +$5 M in net flows, whereas VBG is at 1.8% with +$460 M. 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
GBND
VBG
| AuM | $15.34 M | $1,617.24 M |
| Management Fees | 0.40% | 0.35% |
| Exp. ratio | 0.45% | 0.38% |
| Tracking Difference | - | -0.89% |
Historical performance and flows
As of October 29, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | GBND | +1.29% | -0.97% | -1.63% | -2.85% | +10.61% |
VBG | +1.00% | -0.91% | -1.80% | -2.99% | +8.59% | |
| Flows | GBND | +$1 M | +$1 M | +$5 M | +$5 M | +$6 M |
VBG | +$45 M | +$118 M | +$460 M | +$652 M | +$1,050 M |
GBND vs VBG exposure
Countries
GBND
Canada
19.49%
USA
18.89%
Japan
9.74%
Germany
8.18%
Other
43.70%
VBG
France
11.39%
Japan
10.76%
Germany
9.96%
United Kingdom
8.07%
Italy
7.30%
Other
52.53%
Sectors
GBND
Sovereign
63.87%
Finance
10.93%
Municipal
7.13%
Other
18.07%
VBG
Sovereign
64.31%
Finance
18.98%
Other
16.71%
As of October 29, 2026
Top 10 Holdings
GBND
Canada, Bills 0% 13jan2027, CAD (182D)
7.03%
Japan, JGB 1.1% 20sep2042, JPY
4.67%
Canada, Bills 0% 21oct2026, CAD (182D)
3.96%
Germany, Bund 2.2% 15feb2034, EUR
3.51%
Japan, JGB 0.8% 20mar2034, JPY
2.98%
Austria, AGB 2.9% 23may2029, EUR
2.97%
France, OAT 0.75% 25feb2028, EUR
2.42%
USA, Notes 4.625% 15feb2035, USD (B-2035)
2.23%
USA, Bonds 4.875% 15aug2045, USD
2.13%
Italy, BTP 2.1% 26aug2027, EUR
2.09%
VBG
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0.79%
United Kingdom, Gilt 4.125% 7mar2031, GBP
0.41%
France, OAT 2.7% 25feb2031, EUR
0.36%
United Kingdom, Gilt 4.375% 7mar2030, GBP
0.36%
France, OAT 2.75% 25feb2029, EUR
0.36%
United Kingdom, Gilt 4.375% 7mar2028, GBP
0.35%
United Kingdom, Gilt 4.125% 22jul2029, GBP
0.34%
France, OAT 2% 25nov2032, EUR
0.32%
France, OAT 3.5% 25nov2035, EUR
0.31%
United Kingdom, Gilt 4.5% 7jun2028, GBP
0.30%
Diversification
GBND
Total weight of top 10 holdings out of 141 total
33.99%
VBG
Total weight of top 10 holdings out of 6,838 total
3.89%
Characteristics
Compare
GBND
VBG
| Provider | Manulife Investments | Vanguard |
| Management | Actively managed | Passively managed |
| Benchmark | - | Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped (CAD Hedged) Total Return Index - CAD |
| Replication Method | - | Other |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.50% | 3.81% |
| Meets ESG criteria | No | No |
| Inception Date | May 15, 2023 | June 30, 2014 |
Frequently asked questions about GBND and VBG
Which ETF has performed better year to date: GBND or VBG?
As of October 29, 2026, GBND has returned -1.63% year to date, while VBG has returned -1.80%. GBND is ahead on YTD performance.
Which ETF is larger by assets under management: GBND or VBG?
As of October 29, 2026, GBND manages $15.34 M in assets, while VBG manages $1.62 B. VBG is the larger fund by AUM.
How are GBND and VBG managed?
GBND is actively managed by Manulife Investments. It does not track an index. VBG is passively managed by Vanguard. It tracks the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped (CAD Hedged) Total Return Index - CAD benchmark.
What sectors do GBND and VBG emphasize?
GBND is most exposed to Sovereign, Finance, and Municipal. VBG is most exposed to Sovereign, Finance, and Municipal.
Which ETF is attracting more investor flows: GBND or VBG?
Year to date, GBND has seen +$4.74 M in net flows, compared with +$459.63 M for VBG. VBG has attracted more net investor money so far.
How do the fees of GBND and VBG compare?
GBND has an expense ratio of 0.45%, while VBG has an expense ratio of 0.38%.
What are the top holdings of GBND and VBG?
GBND's largest holdings include Canada, Bills 0% 13jan2027, CAD (182D) and Japan, JGB 1.1% 20sep2042, JPY. VBG's top holdings include United Kingdom, Gilt 4.125% 7mar2031, GBP and France, OAT 2.7% 25feb2031, EUR.
Which ETF is more diversified: GBND or VBG?
GBND holds 115 securities, while VBG holds 6724. On holdings count, VBG is the more diversified portfolio.
Recent articles about GBND and VBG
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All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.