VS
Vanguard FTSE Developed Europe All Cap Index ETF (VE) and BMO MSCI Europe High Quality Hedged to CAD Index ETF (ZEQ) offer distinct profiles for Canadian ETF investors. A direct comparison shows that VE focuses its top 3 sector exposures on Financials, Industrials, and Information Technology, while ZEQ leans towards Industrials, Health Care, and Consumer Staples. When evaluating costs, VE features a management fee (MER) of 0.2%, compared to 0.4% for ZEQ. Performance-wise, VE has returned 10.95% year-to-date with +$94 M in net flows, whereas ZEQ is at 5.3% with -$43 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
VE
ZEQ
| AuM | $669.97 M | $316.80 M |
| Management Fees | 0.20% | 0.40% |
| Exp. ratio | 0.23% | 0.45% |
| Tracking Difference | 0.06% | -2.82% |
Historical performance and flows
As of June 17, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | VE | +6.57% | +10.83% | +10.95% | +25.06% | +71.66% |
ZEQ | +3.43% | +5.13% | +5.30% | +8.75% | +19.30% | |
| Flows | VE | +$0 M | -$1 M | +$94 M | +$185 M | +$347 M |
ZEQ | -$3 M | -$39 M | -$43 M | -$656 M | -$482 M |
VE vs ZEQ exposure
Countries
VE
United Kingdom
22.03%
Switzerland
13.97%
Germany
13.89%
France
13.28%
Netherlands
9.09%
Other
27.74%
ZEQ
Switzerland
28.04%
United Kingdom
24.95%
France
11.68%
Netherlands
11.58%
Germany
8.05%
Other
15.69%
Sectors
VE
Financials
22.33%
Industrials
18.26%
Other
10.13%
Information Technology
8.30%
Health Care
8.22%
Other
32.76%
ZEQ
Industrials
21.63%
Health Care
15.83%
Other
13.19%
Consumer Staples
11.00%
Information Technology
10.45%
Financials
10.28%
Other
17.63%
As of June 17, 2026
Top 10 Holdings
VE
ASML HOLDING
3.57%
HSBC HOLDINGS
2.02%
CH1499059983
1.84%
NOVARTIS
1.83%
ASTRAZENECA
1.82%
NESTLE SA
1.67%
SHELL PLC
1.65%
SIEMENS
1.40%
BANCO SANTANDER SA
1.14%
SAP SE
1.13%
ZEQ
ASML HOLDING
6.78%
NOVARTIS
5.46%
CH1499059983
5.26%
ASTRAZENECA
5.20%
NESTLE SA
4.88%
DK0062498333
3.47%
ABB
3.22%
ALLIANZ SE
2.93%
SCHNEIDER ELECTRIC SE
2.85%
GB00BVZK7T90
2.66%
Diversification
VE
Total weight of top 10 holdings out of 1,219 total
18.07%
ZEQ
Total weight of top 10 holdings out of 121 total
42.71%
Characteristics
Compare
VE
ZEQ
| Provider | Vanguard | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Developed Europe All Cap Net Total Return Index - CAD | MSCI Europe Quality 100% Hedged to CAD Net Total Return Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.33% | 2.93% |
| Meets ESG criteria | No | No |
| Inception Date | June 30, 2014 | February 10, 2014 |
Frequently asked questions about VE and ZEQ
Which ETF has performed better year to date: VE or ZEQ?
As of June 17, 2026, VE has returned 10.95% year to date, while ZEQ has returned 5.30%. VE is ahead on YTD performance.
Which ETF is larger by assets under management: VE or ZEQ?
As of June 17, 2026, VE manages $669.97 M in assets, while ZEQ manages $316.80 M. VE is the larger fund by AUM.
How are VE and ZEQ managed?
VE is passively managed by Vanguard. It tracks the FTSE Developed Europe All Cap Net Total Return Index - CAD benchmark. ZEQ is passively managed by BMO. It tracks the MSCI Europe Quality 100% Hedged to CAD Net Total Return Index - CAD benchmark.
What sectors do VE and ZEQ emphasize?
VE is most exposed to Financials, Industrials, and Information Technology. ZEQ is most exposed to Industrials, Health Care, and Consumer Staples.
Which ETF is attracting more investor flows: VE or ZEQ?
Year to date, VE has seen +$93.72 M in net flows, compared with -$42.58 M for ZEQ. VE has attracted more net investor money so far.
How do the fees of VE and ZEQ compare?
VE has an expense ratio of 0.23%, while ZEQ has an expense ratio of 0.45%.
What are the top holdings of VE and ZEQ?
VE's largest holdings include ASML HOLDING and HSBC HOLDINGS. ZEQ's top holdings include ASML HOLDING and NOVARTIS.
Which ETF is more diversified: VE or ZEQ?
VE holds 1083 securities, while ZEQ holds 112. On holdings count, VE is the more diversified portfolio.
Recent articles about VE and ZEQ
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