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 Finance, Industrials, and Healthcare, while ZEQ leans towards Healthcare, Industrials, and Consumer Non-Cyclicals. When evaluating costs, VE features a management fee (MER) of 0.2%, compared to 0.4% for ZEQ. Performance-wise, VE has returned 8.32% year-to-date with +$128 M in net flows, whereas ZEQ is at 8.61% with -$49 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 | $675.12 M | $317.56 M |
| Management Fees | 0.20% | 0.40% |
| Exp. ratio | 0.23% | 0.45% |
| Tracking Difference | 0.07% | -1.57% |
Historical performance and flows
As of October 30, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | VE | -1.45% | -3.36% | +8.32% | +11.19% | +76.08% |
ZEQ | +3.54% | +0.04% | +8.61% | +9.95% | +31.99% | |
| Flows | VE | +$9 M | +$17 M | +$128 M | +$156 M | +$382 M |
ZEQ | +$3 M | -$3 M | -$49 M | -$58 M | -$435 M |
VE vs ZEQ exposure
Countries
VE
United Kingdom
21.64%
Switzerland
14.29%
Germany
12.55%
France
12.51%
Netherlands
9.47%
Other
29.54%
ZEQ
Switzerland
25.56%
United Kingdom
25.44%
Germany
11.15%
France
10.85%
Netherlands
10.39%
Other
16.60%
Sectors
VE
Finance
26.54%
Industrials
16.70%
Healthcare
11.25%
Technology
9.85%
Consumer Non-Cyclicals
8.08%
Other
27.58%
ZEQ
Healthcare
21.23%
Industrials
21.19%
Consumer Non-Cyclicals
14.33%
Technology
14.24%
Finance
11.06%
Consumer Cyclicals
7.32%
Other
10.63%
As of October 30, 2026
Top 10 Holdings
VE
ASML Holding NV
4.48%
HSBC Holdings Plc
2.19%
Roche Holding AG
1.88%
Shell Plc
1.77%
Novartis AG
1.72%
AstraZeneca PLC
1.57%
Nestlé SA
1.50%
Siemens AG
1.45%
SAP SE
1.32%
Banco Santander SA
1.29%
ZEQ
ASML Holding NV
6.26%
Roche Holding AG
4.82%
Novartis AG
4.80%
AstraZeneca PLC
4.43%
Nestlé SA
4.22%
SAP SE
3.64%
ABB Ltd.
3.29%
Novo Nordisk A/S
3.15%
Rolls-Royce Holdings Plc
3.08%
Unilever Plc
3.03%
Diversification
VE
Total weight of top 10 holdings out of 1,235 total
19.17%
ZEQ
Total weight of top 10 holdings out of 118 total
40.73%
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 | 2.64% | 1.60% |
| 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 October 30, 2026, VE has returned 8.32% year to date, while ZEQ has returned 8.61%. ZEQ is ahead on YTD performance.
Which ETF is larger by assets under management: VE or ZEQ?
As of October 30, 2026, VE manages $675.12 M in assets, while ZEQ manages $317.56 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 Finance, Industrials, and Healthcare. ZEQ is most exposed to Healthcare, Industrials, and Consumer Non-Cyclicals.
Which ETF is attracting more investor flows: VE or ZEQ?
Year to date, VE has seen +$127.76 M in net flows, compared with -$49.12 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 NV, HSBC Holdings Plc, and Roche Holding AG. ZEQ's top holdings include ASML Holding NV, Roche Holding AG, and Novartis AG.
Which ETF is more diversified: VE or ZEQ?
VE holds 1190 securities, while ZEQ holds 114. On holdings count, VE is the more diversified portfolio.
Recent articles about VE and ZEQ
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