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Compare Manulife Smart Global Bond ETF (GBND) vs Vanguard Global Aggregate Bond Index ETF (VGAB) to find the best fit for your portfolio. GBND provides Sovereign, Finance, and Municipal exposures, while VGAB is primarily weighted in Sovereign, Finance, and Industrials. When evaluating costs, GBND features a management fee (MER) of 0.4%, compared to 0.34% for VGAB. Performance-wise, GBND has returned 1.63% year-to-date with +$5 M in net flows, whereas VGAB is at 2.07% with +$197 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
VGAB
| AuM | $15.34 M | $703.53 M |
| Management Fees | 0.40% | 0.34% |
| Exp. ratio | 0.45% | 0.31% |
| Tracking Difference | - | - |
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% |
VGAB | +1.40% | -0.94% | -2.07% | -2.79% | +9.72% | |
| Flows | GBND | +$1 M | +$1 M | +$5 M | +$5 M | +$6 M |
VGAB | +$29 M | +$77 M | +$197 M | +$490 M | +$609 M |
GBND vs VGAB exposure
Countries
GBND
Canada
19.49%
USA
18.89%
Japan
9.74%
Germany
8.18%
Other
43.70%
VGAB
USA
41.19%
Other
10.10%
Other
48.71%
Sectors
GBND
Sovereign
63.87%
Finance
10.93%
Municipal
7.13%
Other
18.07%
VGAB
Sovereign
56.35%
Finance
14.89%
Other
10.10%
Other
18.65%
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%
VGAB
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0.39%
USA, Notes 4.25% 15nov2034, USD (F-2034)
0.22%
USA, Notes 4.375% 15may2034, USD (C-2034)
0.22%
USA, Notes 4.625% 15feb2035, USD (B-2035)
0.22%
USA, Notes 3.875% 15aug2034, USD (E-2034)
0.21%
USA, Notes 3.5% 31jan2028, USD (U-2028)
0.21%
USA, Notes 4% 15feb2034, USD (B-2034)
0.21%
USA, Notes 4.125% 15feb2036, USD (B-2036)
0.21%
USA, Notes 4.25% 15aug2035, USD (E-2035)
0.20%
USA, Notes 4.5% 15nov2033, USD (F-2033)
0.20%
Diversification
GBND
Total weight of top 10 holdings out of 141 total
33.99%
VGAB
Total weight of top 10 holdings out of 21,809 total
2.29%
Characteristics
Compare
GBND
VGAB
| Provider | Manulife Investments | Vanguard |
| Management | Actively managed | Passively managed |
| Benchmark | - | Bloomberg Global Aggregate Float Adjusted Composite GTR Index - CAD |
| Replication Method | - | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.50% | 3.78% |
| Meets ESG criteria | No | No |
| Inception Date | May 15, 2023 | January 23, 2020 |
Frequently asked questions about GBND and VGAB
Which ETF has performed better year to date: GBND or VGAB?
As of October 29, 2026, GBND has returned -1.63% year to date, while VGAB has returned -2.07%. GBND is ahead on YTD performance.
Which ETF is larger by assets under management: GBND or VGAB?
As of October 29, 2026, GBND manages $15.34 M in assets, while VGAB manages $703.53 M. VGAB is the larger fund by AUM.
How are GBND and VGAB managed?
GBND is actively managed by Manulife Investments. It does not track an index. VGAB is passively managed by Vanguard. It tracks the Bloomberg Global Aggregate Float Adjusted Composite GTR Index - CAD benchmark.
What sectors do GBND and VGAB emphasize?
GBND is most exposed to Sovereign, Finance, and Municipal. VGAB is most exposed to Sovereign, Finance, and Industrials.
Which ETF is attracting more investor flows: GBND or VGAB?
Year to date, GBND has seen +$4.74 M in net flows, compared with +$196.53 M for VGAB. VGAB has attracted more net investor money so far.
How do the fees of GBND and VGAB compare?
GBND has an expense ratio of 0.45%, while VGAB has an expense ratio of 0.31%.
What are the top holdings of GBND and VGAB?
GBND's largest holdings include Canada, Bills 0% 13jan2027, CAD (182D) and Japan, JGB 1.1% 20sep2042, JPY. VGAB's top holdings include USA, Notes 4.25% 15nov2034, USD (F-2034) and USA, Notes 4.375% 15may2034, USD (C-2034).
Which ETF is more diversified: GBND or VGAB?
GBND holds 115 securities, while VGAB holds 16096. On holdings count, VGAB is the more diversified portfolio.
Recent articles about GBND and VGAB
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