VS
Global X Short-Term Government Bond Premium Yield ETF (PAYS) and Vanguard Canadian Corporate Bond Index ETF (VCB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that PAYS focuses its top 3 sector exposures on Sovereign, Government Agencies, and Non-Corporate, while VCB leans towards Finance, Energy, and Utilities. When evaluating costs, PAYS features a management fee (MER) of 0.4%, compared to 0.15% for VCB. Performance-wise, PAYS has returned 0.9% year-to-date with +$25 M in net flows, whereas VCB is at 0.47% with +$330 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
PAYS
VCB
| AuM | $104.52 M | $849.27 M |
| Management Fees | 0.40% | 0.15% |
| Exp. ratio | 0.52% | 0.17% |
| Tracking Difference | - | -0.22% |
Historical performance and flows
As of September 3, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | PAYS | +0.01% | +0.05% | +0.90% | +1.48% | - |
VCB | -0.91% | -1.17% | +0.47% | +2.54% | +21.15% | |
| Flows | PAYS | -$2 M | -$3 M | +$25 M | +$13 M | - |
VCB | +$4 M | +$69 M | +$330 M | +$433 M | +$564 M |
PAYS vs VCB exposure
Countries
PAYS
Canada
79.28%
USA
12.21%
Other
8.51%
VCB
Canada
85.57%
USA
12.00%
Sectors
PAYS
Sovereign
87.78%
Other
8.51%
VCB
Finance
47.40%
Energy
13.95%
Utilities
11.54%
Telecommunications
8.63%
Other
18.48%
As of September 3, 2026
Top 10 Holdings
PAYS
Canada, Bills 0% 9nov2023, CAD (364D)
64.93%
CA37893H2037
6.44%
CA37966J2011
1.87%
Canada, Bonds 2.75% 1sep2030, CAD
1.54%
Canada, Bonds 3.25% 1sep2028, CAD
1.26%
Canada, Bonds 2.75% 1mar2031, CAD
1.23%
Canada, Bonds 4% 1mar2029, CAD
1.17%
Canada, Bonds 2.75% 1mar2030, CAD
1.13%
Canada, Bonds 3.5% 1sep2029, CAD
1.05%
Canada, Bond 1.25 1jun2030 10Y
0.87%
VCB
Amazon.com, 5% 12jun2056, CAD
0.79%
Bank of Nova Scotia, 3.61% 30jan2032, CAD
0.59%
Royal Bank of Canada, 3.572% 9dec2031, CAD
0.58%
Amazon.com, 4.35% 12jun2036, CAD
0.57%
Toronto-Dominion Bank, 3.687% 9jan2032, CAD
0.56%
Royal Bank of Canada, 4.829% 8aug2034, CAD (28)
0.55%
Royal Bank of Canada, 4.632% 1may2028, CAD
0.49%
Toronto-Dominion Bank, 3.605% 10sep2031, CAD
0.49%
Bank of Nova Scotia, 3.734% 27jun2031, CAD
0.48%
Toronto-Dominion Bank, 4.68% 8jan2029, CAD
0.47%
Diversification
PAYS
Total weight of top 10 holdings out of 74 total
81.50%
VCB
Total weight of top 10 holdings out of 861 total
5.56%
Characteristics
Compare
PAYS
VCB
| Provider | Global X | Vanguard |
| Management | Actively managed | Passively managed |
| Benchmark | - | Bloomberg Global Aggregate Canadian Credit Float Adjusted Total Return Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 5.43% | 4.25% |
| Meets ESG criteria | No | No |
| Inception Date | May 21, 2024 | January 31, 2017 |
Frequently asked questions about PAYS and VCB
Which ETF has performed better year to date: PAYS or VCB?
As of September 3, 2026, PAYS has returned 0.90% year to date, while VCB has returned 0.47%. PAYS is ahead on YTD performance.
Which ETF is larger by assets under management: PAYS or VCB?
As of September 3, 2026, PAYS manages $104.52 M in assets, while VCB manages $849.27 M. VCB is the larger fund by AUM.
How are PAYS and VCB managed?
PAYS is actively managed by Global X. It does not track an index. VCB is passively managed by Vanguard. It tracks the Bloomberg Global Aggregate Canadian Credit Float Adjusted Total Return Index - CAD benchmark.
What sectors do PAYS and VCB emphasize?
PAYS is most exposed to Sovereign, Government Agencies, and Non-Corporate. VCB is most exposed to Finance, Energy, and Utilities.
Which ETF is attracting more investor flows: PAYS or VCB?
Year to date, PAYS has seen +$24.54 M in net flows, compared with +$329.64 M for VCB. VCB has attracted more net investor money so far.
How do the fees of PAYS and VCB compare?
PAYS has an expense ratio of 0.52%, while VCB has an expense ratio of 0.17%.
What are the top holdings of PAYS and VCB?
PAYS's largest holdings include Canada, Bills 0% 9nov2023, CAD (364D) and Canada, Bonds 2.75% 1sep2030, CAD. VCB's top holdings include Amazon.com, 5% 12jun2056, CAD, Bank of Nova Scotia, 3.61% 30jan2032, CAD, and Royal Bank of Canada, 3.572% 9dec2031, CAD.
Which ETF is more diversified: PAYS or VCB?
PAYS holds 73 securities, while VCB holds 861. On holdings count, VCB is the more diversified portfolio.
The ETF Market Canada is brought to you by Cboe in partnership with Trackinsight SA who is providing all the data, analysis and editorial content on this site. Unless explicitly stated as such, any information that you receive is not real-time.
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.
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.