VS
Vanguard U.S. Aggregate Bond Index ETF (VBU) and BMO Equal Weight Banks Index ETF (ZEB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that VBU focuses its top 3 sector exposures on Sovereign, Other sectors, and Banks, while ZEB leans towards Financials. When evaluating costs, VBU features a management fee (MER) of 0.2%, compared to 0.25% for ZEB. Performance-wise, VBU has returned 0.18% year-to-date with +$241 M in net flows, whereas ZEB is at 23.88% with -$1,116 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
VBU
ZEB
| AuM | $1,821.36 M | $5,536.30 M |
| Management Fees | 0.20% | 0.25% |
| Exp. ratio | 0.23% | 0.28% |
| Tracking Difference | -0.60% | -0.62% |
Historical performance and flows
As of June 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | VBU | +0.13% | -0.25% | -0.18% | +2.86% | +9.65% |
ZEB | +7.80% | +20.31% | +23.88% | +66.43% | +145.04% | |
| Flows | VBU | +$42 M | +$122 M | +$241 M | +$489 M | +$973 M |
ZEB | -$85 M | -$309 M | -$1,116 M | -$946 M | -$1,896 M |
VBU vs ZEB exposure
Countries
VBU
USA
91.64%
Other
8.36%
ZEB
Canada
100.00%
Sectors
VBU
Other
36.17%
Sovereign
35.93%
Other
27.90%
ZEB
Financials
100.00%
As of June 11, 2026
Top 10 Holdings
VBU
USA, Notes 3.5% 31jan2028, USD (U-2028)
0.47%
US91282CPZ85
0.47%
USA, Notes 4.375% 15may2034, USD (C-2034)
0.41%
US91282CPL99
0.41%
USA, Notes 4.25% 15nov2034, USD (F-2034)
0.40%
USA, Notes 4.625% 15feb2035, USD (B-2035)
0.40%
USA, Notes 3.875% 15aug2034, USD (E-2034)
0.40%
USA, Notes 4% 15feb2034, USD (B-2034)
0.40%
USA, Notes 4.5% 15nov2033, USD (F-2033)
0.38%
US91282CNT44
0.38%
ZEB
TORONTO DOMINION
17.02%
CDN IMPERIAL BK
16.89%
NATIONAL BANK OF CANADA
16.73%
ROYAL BK CANADA
16.71%
BNS
16.37%
BANK OF MONTREAL
16.28%
Diversification
VBU
Total weight of top 10 holdings out of 15,764 total
4.11%
ZEB
Total weight of top 10 holdings out of 6 total
100.00%
Characteristics
Compare
VBU
ZEB
| Provider | Vanguard | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | Bloomberg U.S. Aggregate Float Adjusted Bond (CAD Hedged) Total Return Index - CAD | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Fixed Income | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.63% | 2.44% |
| Meets ESG criteria | No | No |
| Inception Date | June 30, 2014 | October 20, 2009 |
Frequently asked questions about VBU and ZEB
Which ETF has performed better year to date: VBU or ZEB?
As of June 11, 2026, VBU has returned -0.18% year to date, while ZEB has returned 23.88%. ZEB is ahead on YTD performance.
Which ETF is larger by assets under management: VBU or ZEB?
As of June 11, 2026, VBU manages $1.82 B in assets, while ZEB manages $5.54 B. ZEB is the larger fund by AUM.
How are VBU and ZEB managed?
VBU is passively managed by Vanguard. It tracks the Bloomberg U.S. Aggregate Float Adjusted Bond (CAD Hedged) Total Return Index - CAD benchmark. ZEB is passively managed by BMO. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do VBU and ZEB emphasize?
VBU is most exposed to Sovereign, Other sectors, and Banks. ZEB is most exposed to Financials.
Which ETF is attracting more investor flows: VBU or ZEB?
Year to date, VBU has seen +$241.02 M in net flows, compared with -$1,115.72 M for ZEB. VBU has attracted more net investor money so far.
How do the fees of VBU and ZEB compare?
VBU has an expense ratio of 0.23%, while ZEB has an expense ratio of 0.28%.
What are the top holdings of VBU and ZEB?
VBU's largest holdings include USA, Notes 3.5% 31jan2028, USD (U-2028) and USA, Notes 4.375% 15may2034, USD (C-2034). ZEB's top holdings include TORONTO DOMINION, CDN IMPERIAL BK, and NATIONAL BANK OF CANADA.
Which ETF is more diversified: VBU or ZEB?
VBU holds 7924 securities, while ZEB holds 6. On holdings count, VBU is the more diversified portfolio.
Recent articles about VBU and ZEB
Bank Stocks: An Undervalued Gem?
Bank stocks are poised for growth amid declining inflation and rate cuts.
Posted on 7/29/2024 by ETF Market Canada inBanks
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.