VS
Vanguard Canadian Government Bond Index ETF (VGV) and NBI Sustainable Canadian Bond ETF (NSCB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that VGV focuses its top 3 sector exposures on Sovereign, Municipal, and Government Agencies, while NSCB leans towards Finance, Sovereign, and Utilities. When evaluating costs, VGV features a management fee (MER) of 0.15%, compared to 0.63% for NSCB. Performance-wise, VGV has returned 0.15% year-to-date with -$25 M in net flows, whereas NSCB is at 2.23% with +$40 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
VGV
NSCB
| AuM | $126.37 M | $2,816.67 M |
| Management Fees | 0.15% | 0.63% |
| Exp. ratio | 0.16% | 0.61% |
| Tracking Difference | -0.15% | - |
Historical performance and flows
As of October 30, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | VGV | +1.62% | -0.70% | +0.15% | -1.07% | +15.38% |
NSCB | +1.37% | -1.15% | -2.23% | -3.79% | +5.61% | |
| Flows | VGV | -$19 M | -$17 M | -$25 M | +$13 M | +$52 M |
NSCB | +$2 M | +$43 M | +$40 M | +$52 M | +$873 M |
VGV vs NSCB exposure
Countries
VGV
Canada
99.21%
NSCB
Canada
96.25%
Sectors
VGV
Sovereign
43.90%
Municipal
38.57%
Government Agencies
9.36%
Other
8.17%
NSCB
Finance
30.50%
Sovereign
21.34%
Utilities
17.97%
Municipal
16.59%
Industrials
7.52%
As of October 30, 2026
Top 10 Holdings
VGV
Canada, Bonds 2.75% 1sep2030, CAD
2.00%
Canada, Bonds 2.75% 1mar2031, CAD
1.98%
Canada, Bonds 3.25% 1jun2035, CAD
1.89%
Canada, Bonds 3.25% 1dec2035, CAD
1.82%
Canada, Bonds 3.25% 1jun2036, CAD
1.78%
Canada, Bonds 3% 1sep2031, CAD
1.72%
Canada, Bonds 3.25% 1dec2034, CAD
1.63%
Canada, Bonds 2.5% 1may2028, CAD
1.59%
Canada, Bonds 2.75% 1aug2028, CAD
1.57%
Canada, Bonds 2.75% 1mar2030, CAD
1.50%
NSCB
Canada, Bonds 3.5% 1mar2034, CAD
9.76%
Canada, Bonds 3.25% 1mar2036, CAD
5.15%
Hydro-Quebec, 5% 15feb2050, CAD (JN)
3.26%
Canada, Bonds 3.5% 1dec2056, CAD (D)
3.14%
Province of Ontario, 4.1% 7oct2054, CAD (DMTN267)
2.59%
PSP Capital, 4.4% 2dec2030, CAD (G-13)
2.48%
PSP Capital, 2.6% 1mar2032, CAD (G-4)
2.46%
Canada, Bonds 3% 1mar2032, CAD (C)
2.29%
Hydro-Quebec, 4% 15feb2055, CAD (JQ)
2.26%
Province of Ontario, FRN 19nov2030, CAD (DMTN274)
2.22%
Diversification
VGV
Total weight of top 10 holdings out of 496 total
17.49%
NSCB
Total weight of top 10 holdings out of 160 total
35.64%
Characteristics
Compare
VGV
NSCB
| Provider | Vanguard | National Bank Investments |
| Management | Passively managed | Actively managed |
| Benchmark | Bloomberg Global Aggregate Canadian Government Float Adjusted Total Return Index - CAD | - |
| Replication Method | Direct (Physical) | - |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.24% | 0.00% |
| Meets ESG criteria | No | Yes |
| Inception Date | January 31, 2017 | January 23, 2020 |
Frequently asked questions about VGV and NSCB
Which ETF has performed better year to date: VGV or NSCB?
As of October 30, 2026, VGV has returned 0.15% year to date, while NSCB has returned -2.23%. VGV is ahead on YTD performance.
Which ETF is larger by assets under management: VGV or NSCB?
As of October 30, 2026, VGV manages $126.37 M in assets, while NSCB manages $2.82 B. NSCB is the larger fund by AUM.
How are VGV and NSCB managed?
VGV is passively managed by Vanguard. It tracks the Bloomberg Global Aggregate Canadian Government Float Adjusted Total Return Index - CAD benchmark. NSCB is actively managed by National Bank Investments. It does not track an index.
What sectors do VGV and NSCB emphasize?
VGV is most exposed to Sovereign, Municipal, and Government Agencies. NSCB is most exposed to Finance, Sovereign, and Utilities.
Which ETF is attracting more investor flows: VGV or NSCB?
Year to date, VGV has seen -$25.07 M in net flows, compared with +$39.70 M for NSCB. NSCB has attracted more net investor money so far.
How do the fees of VGV and NSCB compare?
VGV has an expense ratio of 0.16%, while NSCB has an expense ratio of 0.61%.
What are the top holdings of VGV and NSCB?
VGV's largest holdings include Canada, Bonds 2.75% 1sep2030, CAD, Canada, Bonds 2.75% 1mar2031, CAD, and Canada, Bonds 3.25% 1jun2035, CAD. NSCB's top holdings include Canada, Bonds 3.5% 1mar2034, CAD, Canada, Bonds 3.25% 1mar2036, CAD, and Hydro-Quebec, 5% 15feb2050, CAD (JN).
Which ETF is more diversified: VGV or NSCB?
VGV holds 493 securities, while NSCB holds 154. On holdings count, VGV is the more diversified portfolio.
Recent articles about VGV and NSCB
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