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Compare Vanguard Conservative ETF Portfolio (VCNS) vs BMO Conservative ETF (ZCON) to find the best fit for your portfolio. VCNS and ZCON provide the same top sector exposures: Sovereign, Finance, and Municipal. When evaluating costs, VCNS features a management fee (MER) of 0.22%, compared to 0.18% for ZCON. Performance-wise, VCNS has returned 4.93% year-to-date with +$199 M in net flows, whereas ZCON is at 4.9% with +$37 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
VCNS
ZCON
| AuM | $962.39 M | $118.76 M |
| Management Fees | 0.22% | 0.18% |
| Exp. ratio | 0.25% | 0.20% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | VCNS | -1.29% | -0.30% | +4.93% | +6.81% | +36.59% |
ZCON | -1.19% | -0.39% | +4.90% | +6.79% | +34.75% | |
| Flows | VCNS | +$22 M | +$68 M | +$199 M | +$307 M | +$363 M |
ZCON | +$7 M | +$16 M | +$37 M | +$47 M | +$66 M |
VCNS vs ZCON exposure
Countries
VCNS
Canada
46.47%
USA
28.45%
Other
25.07%
ZCON
Canada
52.07%
USA
32.85%
Other
15.07%
Sectors
VCNS
Sovereign
25.41%
Finance
18.86%
Municipal
11.13%
Technology
10.75%
Other
33.85%
ZCON
Sovereign
22.43%
Finance
16.59%
Municipal
13.27%
Technology
11.43%
Other
36.28%
As of September 11, 2026
Top 10 Holdings
VCNS
NVIDIA Corp.
1.17%
Apple, Inc.
1.15%
Royal Bank of Canada
1.04%
Microsoft Corp.
0.87%
The Toronto-Dominion Bank
0.71%
Amazon.com, Inc.
0.67%
Canada, Bonds 2.75% 1mar2031, CAD
0.64%
Canada, Bonds 2.75% 1sep2030, CAD
0.57%
Canada, Bonds 3.25% 1dec2035, CAD
0.55%
Canada, Bonds 3.25% 1jun2036, CAD
0.54%
ZCON
Canada, Bond 0.5 1oct2030 10Y
7.74%
CMHC, 1.9% 15mar2031, CAD (100)
2.89%
Province of Quebec, 1.5% 1sep2031, CAD (B128)
2.29%
Canada, Bonds 2.25% 1dec2029, CAD
2.18%
Province of Ontario, 2.65% 2dec2050, CAD (DMTN242)
2.15%
Province of Ontario, 2.05% 2jun2030, CAD (DMTN243)
2.14%
Sun Life Financial, 2.06% 1oct2035, CAD (2020-2)
2.09%
Toronto-Dominion Bank, 1.896% 11sep2028, CAD
1.63%
Apple, Inc.
1.39%
NVIDIA Corp.
1.34%
Diversification
VCNS
Total weight of top 10 holdings out of 33,981 total
7.91%
ZCON
Total weight of top 10 holdings out of 19,892 total
25.86%
Characteristics
Compare
VCNS
ZCON
| Provider | Vanguard | BMO |
| Management | Actively managed | Actively managed |
| Benchmark | - | - |
| Replication Method | ||
| Asset Class | Equity, Fixed Income | Equity, Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.51% | 1.93% |
| Meets ESG criteria | No | No |
| Inception Date | February 1, 2018 | February 15, 2019 |
Frequently asked questions about VCNS and ZCON
Which ETF has performed better year to date: VCNS or ZCON?
As of September 11, 2026, VCNS has returned 4.93% year to date, while ZCON has returned 4.90%. VCNS is ahead on YTD performance.
Which ETF is larger by assets under management: VCNS or ZCON?
As of September 11, 2026, VCNS manages $962.39 M in assets, while ZCON manages $118.76 M. VCNS is the larger fund by AUM.
How are VCNS and ZCON managed?
VCNS is actively managed by Vanguard. It does not track an index. ZCON is actively managed by BMO. It does not track an index.
What sectors do VCNS and ZCON emphasize?
VCNS is most exposed to Sovereign, Finance, and Municipal. ZCON is most exposed to Sovereign, Finance, and Municipal.
Which ETF is attracting more investor flows: VCNS or ZCON?
Year to date, VCNS has seen +$199.06 M in net flows, compared with +$36.55 M for ZCON. VCNS has attracted more net investor money so far.
How do the fees of VCNS and ZCON compare?
VCNS has an expense ratio of 0.25%, while ZCON has an expense ratio of 0.20%.
What are the top holdings of VCNS and ZCON?
VCNS's largest holdings include NVIDIA Corp. and Apple, Inc.. ZCON's top holdings include Canada, Bond 0.5 1oct2030 10Y and CMHC, 1.9% 15mar2031, CAD (100).
Which ETF is more diversified: VCNS or ZCON?
VCNS holds 28264 securities, while ZCON holds 11658. On holdings count, VCNS is the more diversified portfolio.
Recent articles about VCNS and ZCON
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