VS
Compare Vanguard Canadian Government Bond Index ETF (VGV) vs BMO Government Bond Index ETF (ZGB) to find the best fit for your portfolio. VGV and ZGB provide the same top sector exposures: Sovereign, Municipal, and Government Agencies. When evaluating costs, VGV features a management fee (MER) of 0.15%, compared to 0.15% for ZGB. Performance-wise, VGV has returned 0.15% year-to-date with -$25 M in net flows, whereas ZGB is at 0.5% with -$205 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
ZGB
| AuM | $126.37 M | $1,238.66 M |
| Management Fees | 0.15% | 0.15% |
| Exp. ratio | 0.16% | 0.16% |
| 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% |
ZGB | +1.64% | -0.40% | +0.50% | -0.69% | +13.98% | |
| Flows | VGV | -$19 M | -$17 M | -$25 M | +$13 M | +$52 M |
ZGB | -$1 M | -$13 M | -$205 M | -$189 M | +$177 M |
VGV vs ZGB exposure
Countries
VGV
Canada
99.21%
ZGB
Canada
100.00%
Sectors
VGV
Sovereign
43.90%
Municipal
38.57%
Government Agencies
9.36%
Other
8.17%
ZGB
Sovereign
45.20%
Municipal
41.39%
Government Agencies
13.41%
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%
ZGB
Canada, Bond 1.25 1jun2030 10Y
12.65%
Canada, Bonds 2% 1jun2032, CAD
6.27%
Canada, Bonds 1.5% 1dec2031 10Y
6.17%
Canada Housing Trust, 4.25% 15mar2034, CAD (118)
3.49%
Canada, Bonds 3.5% 1mar2028, CAD
3.45%
CMHC, 1.75% 15jun2030, CAD (92)
3.21%
Canada, Bonds 2.5% 1dec2032, CAD
3.20%
Province of Ontario, 2.15% 2jun2031, CAD (DMTN249)
3.20%
Canada, Bonds 2.75% 1dec2055, CAD
2.56%
Province of Ontario, 2.65% 2dec2050, CAD (DMTN242)
2.30%
Diversification
VGV
Total weight of top 10 holdings out of 496 total
17.49%
ZGB
Total weight of top 10 holdings out of 50 total
46.50%
Characteristics
Compare
VGV
ZGB
| Provider | Vanguard | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | Bloomberg Global Aggregate Canadian Government Float Adjusted Total Return Index - CAD | FTSE Canada All Government Bond TR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.24% | 2.93% |
| Meets ESG criteria | No | No |
| Inception Date | January 31, 2017 | March 7, 2018 |
Frequently asked questions about VGV and ZGB
Which ETF has performed better year to date: VGV or ZGB?
As of October 30, 2026, VGV has returned 0.15% year to date, while ZGB has returned 0.50%. ZGB is ahead on YTD performance.
Which ETF is larger by assets under management: VGV or ZGB?
As of October 30, 2026, VGV manages $126.37 M in assets, while ZGB manages $1.24 B. ZGB is the larger fund by AUM.
How are VGV and ZGB managed?
VGV is passively managed by Vanguard. It tracks the Bloomberg Global Aggregate Canadian Government Float Adjusted Total Return Index - CAD benchmark. ZGB is passively managed by BMO. It tracks the FTSE Canada All Government Bond TR Index - CAD benchmark.
What sectors do VGV and ZGB emphasize?
VGV is most exposed to Sovereign, Municipal, and Government Agencies. ZGB is most exposed to Sovereign, Municipal, and Government Agencies.
Which ETF is attracting more investor flows: VGV or ZGB?
Year to date, VGV has seen -$25.07 M in net flows, compared with -$204.80 M for ZGB. VGV has attracted more net investor money so far.
How do the fees of VGV and ZGB compare?
VGV has an expense ratio of 0.16%, while ZGB has an expense ratio of 0.16%.
What are the top holdings of VGV and ZGB?
VGV's largest holdings include Canada, Bonds 2.75% 1sep2030, CAD, Canada, Bonds 2.75% 1mar2031, CAD, and Canada, Bonds 3.25% 1jun2035, CAD. ZGB's top holdings include Canada, Bond 1.25 1jun2030 10Y, Canada, Bonds 2% 1jun2032, CAD, and Canada, Bonds 1.5% 1dec2031 10Y.
Which ETF is more diversified: VGV or ZGB?
VGV holds 493 securities, while ZGB holds 50. On holdings count, VGV is the more diversified portfolio.
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