VS
Compare Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY) vs iShares S&P/TSX Canadian Dividend Aristocrats Index ETF (CDZ) to find the best fit for your portfolio. VDY provides Finance, Energy, and Utilities exposures, while CDZ is primarily weighted in Finance, Energy, and Industrials. When evaluating costs, VDY features a management fee (MER) of 0.2%, compared to 0.6% for CDZ. Performance-wise, VDY has returned 29.42% year-to-date with +$2 B in net flows, whereas CDZ is at 18.73% with +$13 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
VDY
CDZ
| AuM | $9,146.36 M | $1,289.41 M |
| Management Fees | 0.20% | 0.60% |
| Exp. ratio | 0.22% | 0.66% |
| Tracking Difference | -0.05% | -0.94% |
Historical performance and flows
As of July 24, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | VDY | +4.30% | +14.59% | +29.42% | +54.23% | +117.53% |
CDZ | +4.22% | +9.55% | +18.73% | +28.93% | +74.32% | |
| Flows | VDY | +$307 M | +$901 M | +$1,831 M | +$2,564 M | +$3,779 M |
CDZ | +$7 M | +$21 M | +$13 M | +$47 M | -$93 M |
VDY vs CDZ exposure
Countries
VDY
Canada
96.84%
CDZ
Canada
97.30%
Sectors
VDY
Finance
60.97%
Energy
26.69%
Other
12.34%
CDZ
Finance
29.34%
Energy
18.40%
Industrials
14.54%
Utilities
9.33%
Consumer Non-Cyclicals
7.21%
Telecommunications
7.08%
Other
14.10%
As of July 24, 2026
Top 10 Holdings
VDY
Royal Bank of Canada
16.31%
The Toronto-Dominion Bank
11.45%
Bank of Montreal
7.03%
Enbridge, Inc.
6.66%
The Bank of Nova Scotia
6.03%
Canadian Imperial Bank of Commerce
5.96%
Canadian Natural Resources Ltd.
4.55%
TC Energy Corp.
3.88%
Manulife Financial Corp.
3.82%
Suncor Energy, Inc.
3.60%
CDZ
South Bow Corp.
3.16%
Westshore Terminals Investment Corp.
2.48%
Gibson Energy, Inc.
2.47%
TELUS Corp.
2.42%
Mullen Group Ltd.
2.25%
Enbridge, Inc.
2.24%
Pembina Pipeline Corp.
2.12%
CT Real Estate Investment Trust
2.03%
Capital Power Corp.
1.93%
Canadian Natural Resources Ltd.
1.84%
Diversification
VDY
Total weight of top 10 holdings out of 60 total
69.29%
CDZ
Total weight of top 10 holdings out of 96 total
22.95%
Characteristics
Compare
VDY
CDZ
| Provider | Vanguard | iShares |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada High Dividend Yield Net Tax Index - CAD | S&P/TSX Canadian Dividend Aristocrats Total Return Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.18% | 2.91% |
| Meets ESG criteria | No | No |
| Inception Date | November 2, 2012 | September 8, 2006 |
Frequently asked questions about VDY and CDZ
Which ETF has performed better year to date: VDY or CDZ?
As of July 24, 2026, VDY has returned 29.42% year to date, while CDZ has returned 18.73%. VDY is ahead on YTD performance.
Which ETF is larger by assets under management: VDY or CDZ?
As of July 24, 2026, VDY manages $9.15 B in assets, while CDZ manages $1.29 B. VDY is the larger fund by AUM.
How are VDY and CDZ managed?
VDY is passively managed by Vanguard. It tracks the FTSE Canada High Dividend Yield Net Tax Index - CAD benchmark. CDZ is passively managed by iShares. It tracks the S&P/TSX Canadian Dividend Aristocrats Total Return Index - CAD benchmark.
What sectors do VDY and CDZ emphasize?
VDY is most exposed to Finance, Energy, and Utilities. CDZ is most exposed to Finance, Energy, and Industrials.
Which ETF is attracting more investor flows: VDY or CDZ?
Year to date, VDY has seen +$1,831.28 M in net flows, compared with +$13.13 M for CDZ. VDY has attracted more net investor money so far.
How do the fees of VDY and CDZ compare?
VDY has an expense ratio of 0.22%, while CDZ has an expense ratio of 0.66%.
What are the top holdings of VDY and CDZ?
VDY's largest holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and Bank of Montreal. CDZ's top holdings include South Bow Corp., Westshore Terminals Investment Corp., and Gibson Energy, Inc..
Which ETF is more diversified: VDY or CDZ?
VDY holds 60 securities, while CDZ holds 96. On holdings count, CDZ is the more diversified portfolio.
Recent articles about VDY and CDZ
ETF Comparison: VDY vs XEI
Sector exposure, diversification, and tracking efficiency separate these two dividend ETF heavyweights.
Posted on 6/1/2026 by Kyle Anthony inDividends
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.