VS
Harvest Low Volatility Canadian Equity Income ETF (HVOI) and Vanguard FTSE Canada Index ETF (VCE) offer distinct profiles for Canadian ETF investors. A direct comparison shows that HVOI focuses its top 3 sector exposures on Finance, Energy, and Industrials, while VCE leans towards Finance, Energy, and Non-Energy Materials. When evaluating costs, HVOI features a management fee (MER) of 0.65%, compared to 0.05% for VCE. Performance-wise, HVOI has returned 9.25% year-to-date with -$10 M in net flows, whereas VCE is at 15.29% with +$351 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
HVOI
VCE
| AuM | $45.18 M | $3,739.68 M |
| Management Fees | 0.65% | 0.05% |
| Exp. ratio | 0.65% | 0.06% |
| Tracking Difference | - | 0.67% |
Historical performance and flows
As of September 2, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | HVOI | -1.32% | +2.87% | +9.25% | +15.45% | - |
VCE | +0.66% | +3.76% | +15.29% | +28.54% | +95.52% | |
| Flows | HVOI | -$0 M | -$34 M | -$10 M | -$0 M | - |
VCE | +$43 M | +$102 M | +$351 M | +$491 M | +$965 M |
HVOI vs VCE exposure
Countries
HVOI
Canada
96.70%
VCE
Canada
97.36%
Sectors
HVOI
Finance
39.27%
Energy
13.46%
Industrials
9.86%
Utilities
7.70%
Consumer Non-Cyclicals
7.61%
Other
22.10%
VCE
Finance
45.69%
Energy
17.67%
Non-Energy Materials
13.15%
Industrials
7.48%
Other
16.01%
As of September 2, 2026
Top 10 Holdings
HVOI
Bank of Montreal
4.29%
The Bank of Nova Scotia
4.23%
The Toronto-Dominion Bank
4.16%
Canadian Imperial Bank of Commerce
4.11%
National Bank of Canada
4.04%
Royal Bank of Canada
4.01%
Canadian Pacific Kansas City Ltd.
3.94%
Sun Life Financial, Inc.
3.91%
Canadian National Railway Co.
3.83%
Fortis, Inc.
3.55%
VCE
Royal Bank of Canada
9.32%
The Toronto-Dominion Bank
6.38%
Shopify, Inc.
4.57%
Bank of Montreal
4.04%
Enbridge, Inc.
3.78%
Canadian Imperial Bank of Commerce
3.47%
The Bank of Nova Scotia
3.44%
Canadian Natural Resources Ltd.
3.10%
Brookfield Corp.
2.83%
Suncor Energy, Inc.
2.54%
Diversification
HVOI
Total weight of top 10 holdings out of 40 total
40.09%
VCE
Total weight of top 10 holdings out of 85 total
43.46%
Characteristics
Compare
HVOI
VCE
| Provider | Harvest Portfolios Group | Vanguard |
| Management | Actively managed | Passively managed |
| Benchmark | - | FTSE Canada Domestic TR Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 6.85% | 2.60% |
| Meets ESG criteria | No | No |
| Inception Date | April 15, 2025 | November 30, 2011 |
Frequently asked questions about HVOI and VCE
Which ETF has performed better year to date: HVOI or VCE?
As of September 2, 2026, HVOI has returned 9.25% year to date, while VCE has returned 15.29%. VCE is ahead on YTD performance.
Which ETF is larger by assets under management: HVOI or VCE?
As of September 2, 2026, HVOI manages $45.18 M in assets, while VCE manages $3.74 B. VCE is the larger fund by AUM.
How are HVOI and VCE managed?
HVOI is actively managed by Harvest Portfolios Group. It does not track an index. VCE is passively managed by Vanguard. It tracks the FTSE Canada Domestic TR Index - CAD benchmark.
What sectors do HVOI and VCE emphasize?
HVOI is most exposed to Finance, Energy, and Industrials. VCE is most exposed to Finance, Energy, and Non-Energy Materials.
Which ETF is attracting more investor flows: HVOI or VCE?
Year to date, HVOI has seen -$9.56 M in net flows, compared with +$351.36 M for VCE. VCE has attracted more net investor money so far.
How do the fees of HVOI and VCE compare?
HVOI has an expense ratio of 0.65%, while VCE has an expense ratio of 0.06%.
What are the top holdings of HVOI and VCE?
HVOI's largest holdings include Bank of Montreal, The Bank of Nova Scotia, and The Toronto-Dominion Bank. VCE's top holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and Shopify, Inc..
Which ETF is more diversified: HVOI or VCE?
HVOI holds 40 securities, while VCE holds 84. On holdings count, VCE is the more diversified portfolio.
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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.