VS
Vanguard Canadian Aggregate Bond Index ETF (VAB) and Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that VAB focuses its top 3 sector exposures on Municipal, Sovereign, and Government agencies, while HEWB leans towards Financials. When evaluating costs, VAB features a management fee (MER) of 0.08%, compared to 0.28% for HEWB. Performance-wise, VAB has returned 0.36% year-to-date with +$709 M in net flows, whereas HEWB is at 14.09% with +$12 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
VAB
HEWB
| AuM | $7,195.10 M | $287.87 M |
| Management Fees | 0.08% | 0.28% |
| Exp. ratio | 0.09% | 0.28% |
| Tracking Difference | -0.35% | -0.80% |
Historical performance and flows
As of May 13, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | VAB | -0.01% | -1.23% | +0.36% | +1.95% | +11.77% |
HEWB | +3.65% | +10.87% | +14.09% | +60.22% | +117.30% | |
| Flows | VAB | +$157 M | +$440 M | +$709 M | +$1,768 M | +$3,118 M |
HEWB | +$5 M | +$9 M | +$12 M | +$7 M | -$3 M |
VAB vs HEWB exposure
Countries
VAB
Canada
98.29%
HEWB
Canada
99.99%
Sectors
VAB
Municipal
29.06%
Sovereign
24.44%
Other
19.34%
Other
27.15%
HEWB
Financials
99.99%
As of May 13, 2026
Top 10 Holdings
VAB
CA135087T537
1.57%
CA135087T792
1.54%
CA135087T388
1.43%
Canada, Bonds 3.25% 1jun2035, CAD
1.41%
Canada, Bonds 3% 1jun2034, CAD
1.28%
Canada, Bonds 2.75% 1mar2030, CAD
1.25%
CA135087T610
1.21%
Canada, Bonds 3.5% 1sep2029, CAD
1.20%
Canada, Bond 1.25 1jun2030 10Y
1.19%
Canada, Bonds 3.25% 1dec2034, CAD
1.18%
HEWB
ROYAL BK CANADA
17.10%
TORONTO DOMINION
16.90%
BNS
16.65%
BANK OF MONTREAL
16.51%
CDN IMPERIAL BK
16.48%
NATIONAL BANK OF CANADA
16.35%
Diversification
VAB
Total weight of top 10 holdings out of 1,295 total
13.27%
HEWB
Total weight of top 10 holdings out of 6 total
99.99%
Characteristics
Compare
VAB
HEWB
| Provider | Vanguard | Global X |
| Management | Passively managed | Passively managed |
| Benchmark | Bloomberg Global Aggregate Canadian Float Adjusted Bond Total Return Index - CAD | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Equity |
| Dividend Policy | Distributing | Capitalization |
| Trailing 12m distribution yield | 3.36% | 0.00% |
| Meets ESG criteria | No | No |
| Inception Date | November 30, 2011 | January 23, 2019 |
Frequently asked questions about VAB and HEWB
Which ETF has performed better year to date: VAB or HEWB?
As of May 13, 2026, VAB has returned 0.36% year to date, while HEWB has returned 14.09%. HEWB is ahead on YTD performance.
Which ETF is larger by assets under management: VAB or HEWB?
As of May 13, 2026, VAB manages $7.20 B in assets, while HEWB manages $287.87 M. VAB is the larger fund by AUM.
How are VAB and HEWB managed?
VAB is passively managed by Vanguard. It tracks the Bloomberg Global Aggregate Canadian Float Adjusted Bond Total Return Index - CAD benchmark. HEWB is passively managed by Global X. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do VAB and HEWB emphasize?
VAB is most exposed to Municipal, Sovereign, and Government agencies. HEWB is most exposed to Financials.
Which ETF is attracting more investor flows: VAB or HEWB?
Year to date, VAB has seen +$709.11 M in net flows, compared with +$12.19 M for HEWB. VAB has attracted more net investor money so far.
How do the fees of VAB and HEWB compare?
VAB has an expense ratio of 0.09%, while HEWB has an expense ratio of 0.28%.
What are the top holdings of VAB and HEWB?
VAB's largest holdings include Canada, Bonds 3.25% 1jun2035, CAD and Canada, Bonds 3% 1jun2034, CAD. HEWB's top holdings include ROYAL BK CANADA, TORONTO DOMINION, and BNS.
Which ETF is more diversified: VAB or HEWB?
VAB holds 1053 securities, while HEWB holds 6. On holdings count, VAB is the more diversified portfolio.
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