VS
Global X Active Ultra-Short Term Investment Grade Bond ETF (HFR) and Vanguard Canadian Aggregate Bond Index ETF (VAB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that HFR focuses its top 3 sector exposures on Finance, Energy, and Telecommunications, while VAB leans towards Sovereign, Municipal, and Finance. When evaluating costs, HFR features a management fee (MER) of 0.47%, compared to 0.08% for VAB. Performance-wise, HFR has returned 2.1% year-to-date with +$204 M in net flows, whereas VAB is at 1.19% with +$1 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
HFR
VAB
| AuM | $713.34 M | $7,847.22 M |
| Management Fees | 0.47% | 0.08% |
| Exp. ratio | 0.49% | 0.09% |
| Tracking Difference | - | -0.39% |
Historical performance and flows
As of November 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | HFR | +0.16% | +0.50% | +2.10% | +2.47% | +13.50% |
VAB | +1.21% | +0.92% | +1.19% | +0.28% | +16.15% | |
| Flows | HFR | +$7 M | +$64 M | +$204 M | +$217 M | +$293 M |
VAB | +$70 M | +$357 M | +$1,430 M | +$1,724 M | +$3,507 M |
HFR vs VAB exposure
Countries
HFR
Canada
88.03%
Other
8.09%
VAB
Canada
94.18%
Sectors
HFR
Finance
67.98%
Energy
8.59%
Other
8.09%
Other
15.34%
VAB
Sovereign
33.17%
Municipal
29.83%
Finance
12.87%
Government Agencies
7.38%
Other
16.75%
As of November 11, 2026
Top 10 Holdings
HFR
Federation des caisses Desjardins du Quebec, 5.035% 23aug2032, CAD
2.22%
TransCanada PipeLines, 3.8% 5apr2027, CAD
1.70%
Bank of Montreal, 4.976% 3jul2034, CAD (M)
1.63%
Toronto-Dominion Bank, 4.68% 8jan2029, CAD
1.43%
Rogers Communications, 3.65% 31mar2027, CAD
1.39%
Royal Bank of Canada, 3.831% 27mar2030, CAD
1.29%
Bank of Nova Scotia, 3.575% 1may2030, CAD
1.16%
Manulife Financial Corporation, 5.409% 10mar2033, CAD
1.02%
Toronto-Dominion Bank, 5.491% 8sep2028, CAD
0.99%
CIBC, 5.33% 20jan2033, CAD
0.97%
VAB
Canada, Bonds 2.75% 1mar2031, CAD
1.80%
Canada, Bonds 3% 1sep2031, CAD
1.69%
Canada, Bonds 3.25% 1dec2035, CAD
1.47%
Canada, Bonds 2.75% 1sep2030, CAD
1.46%
Canada, Bonds 3.25% 1jun2036, CAD
1.42%
Canada, Bonds 3.25% 1jun2035, CAD
1.38%
Canada, Bonds 2.75% 1mar2030, CAD
1.23%
Canada, Bonds 2.25% 1feb2028, CAD
1.13%
Canada, Bonds 2.5% 1may2028, CAD
1.12%
Canada, Bonds 3% 1jun2034, CAD
1.12%
Diversification
HFR
Total weight of top 10 holdings out of 293 total
13.80%
VAB
Total weight of top 10 holdings out of 1,324 total
13.81%
Characteristics
Compare
HFR
VAB
| Provider | Global X | Vanguard |
| Management | Actively managed | Passively managed |
| Benchmark | - | Bloomberg Global Aggregate Canadian Float Adjusted Bond Total Return Index - CAD |
| Replication Method | - | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.44% | 3.42% |
| Meets ESG criteria | No | No |
| Inception Date | December 8, 2010 | November 30, 2011 |
Frequently asked questions about HFR and VAB
Which ETF has performed better year to date: HFR or VAB?
As of November 11, 2026, HFR has returned 2.10% year to date, while VAB has returned 1.19%. HFR is ahead on YTD performance.
Which ETF is larger by assets under management: HFR or VAB?
As of November 11, 2026, HFR manages $713.34 M in assets, while VAB manages $7.85 B. VAB is the larger fund by AUM.
How are HFR and VAB managed?
HFR is actively managed by Global X. It does not track an index. VAB is passively managed by Vanguard. It tracks the Bloomberg Global Aggregate Canadian Float Adjusted Bond Total Return Index - CAD benchmark.
What sectors do HFR and VAB emphasize?
HFR is most exposed to Finance, Energy, and Telecommunications. VAB is most exposed to Sovereign, Municipal, and Finance.
Which ETF is attracting more investor flows: HFR or VAB?
Year to date, HFR has seen +$204.32 M in net flows, compared with +$1,429.53 M for VAB. VAB has attracted more net investor money so far.
How do the fees of HFR and VAB compare?
HFR has an expense ratio of 0.49%, while VAB has an expense ratio of 0.09%.
What are the top holdings of HFR and VAB?
HFR's largest holdings include Federation des caisses Desjardins du Quebec, 5.035% 23aug2032, CAD and TransCanada PipeLines, 3.8% 5apr2027, CAD. VAB's top holdings include Canada, Bonds 2.75% 1mar2031, CAD and Canada, Bonds 3% 1sep2031, CAD.
Which ETF is more diversified: HFR or VAB?
HFR holds 281 securities, while VAB holds 1284. On holdings count, VAB is the more diversified portfolio.
Recent articles about HFR and VAB
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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.