VS
Compare Vanguard Canadian Short-Term Bond Index ETF (VSB) vs BMO Aggregate Bond Index ETF (ZAG) to find the best fit for your portfolio. VSB provides Sovereign, Finance, and Municipal exposures, while ZAG is primarily weighted in Sovereign, Municipal, and Finance. When evaluating costs, VSB features a management fee (MER) of 0.1%, compared to 0.08% for ZAG. Performance-wise, VSB has returned 1.4% year-to-date with +$508 M in net flows, whereas ZAG is at 1.22% with +$2 B. 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
VSB
ZAG
| AuM | $1,844.63 M | $13,609.02 M |
| Management Fees | 0.10% | 0.08% |
| Exp. ratio | 0.12% | 0.09% |
| Tracking Difference | -0.38% | - |
Historical performance and flows
As of November 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | VSB | +0.41% | +0.44% | +1.40% | +1.35% | +15.64% |
ZAG | +1.18% | +0.90% | +1.22% | +0.36% | +14.60% | |
| Flows | VSB | -$134 M | +$234 M | +$508 M | +$458 M | +$758 M |
ZAG | +$261 M | +$382 M | +$1,622 M | +$2,068 M | +$7,682 M |
VSB vs ZAG exposure
Countries
VSB
Canada
92.59%
Other
7.41%
ZAG
Canada
95.65%
Sectors
VSB
Sovereign
38.01%
Finance
22.46%
Municipal
15.41%
Government Agencies
9.79%
Other
14.33%
ZAG
Sovereign
34.55%
Municipal
30.80%
Finance
11.12%
Government Agencies
9.39%
Other
14.14%
As of November 11, 2026
Top 10 Holdings
VSB
Canada, Bonds 3% 1sep2031, CAD
3.44%
Canada, Bonds 2.75% 1sep2030, CAD
3.44%
Canada, Bonds 2.75% 1mar2031, CAD
3.40%
Canada, Bonds 2.75% 1mar2030, CAD
2.87%
Canada, Bonds 2.5% 1may2028, CAD
2.47%
Canada, Bonds 2.75% 1aug2028, CAD
2.40%
Canada, Bonds 2.5% 1nov2027, CAD
2.30%
Canada, Bonds 2.25% 1feb2028, CAD
2.24%
Canada, Bonds 4% 1mar2029, CAD
2.19%
Canada, Bond 1.25 1jun2030 10Y
2.19%
ZAG
Canada, Bonds 3% 1jun2034, CAD
4.26%
Canada, Bonds 2.5% 1nov2027, CAD
3.74%
Canada, Bonds 2.25% 1feb2028, CAD
2.97%
Canada, Bond 2.25 1jun2029 10Y
2.92%
Canada, Bonds 2.75% 1dec2055, CAD
2.80%
Canada Housing Trust, 1.1% 15mar2031, CAD (95)
2.69%
Province of Quebec, 3.5% 1dec2048, CAD (B117)
2.35%
Bank of Montreal, 3.19% 1mar2028, CAD
2.25%
Province of Quebec, 2.75% 1sep2028, CAD (B124)
2.23%
Canada, Bonds 2.75% 1mar2030, CAD
2.20%
Diversification
VSB
Total weight of top 10 holdings out of 583 total
26.95%
ZAG
Total weight of top 10 holdings out of 86 total
28.40%
Characteristics
Compare
VSB
ZAG
| Provider | Vanguard | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | Bloomberg Global Aggregate Canadian Government/Credit 1-5 Year Float Adjusted Bond Total Return Index - CAD | FTSE Canada Universe Bond TR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.99% | 3.43% |
| Meets ESG criteria | No | No |
| Inception Date | November 30, 2011 | January 19, 2010 |
Frequently asked questions about VSB and ZAG
Which ETF has performed better year to date: VSB or ZAG?
As of November 11, 2026, VSB has returned 1.40% year to date, while ZAG has returned 1.22%. VSB is ahead on YTD performance.
Which ETF is larger by assets under management: VSB or ZAG?
As of November 11, 2026, VSB manages $1.84 B in assets, while ZAG manages $13.61 B. ZAG is the larger fund by AUM.
How are VSB and ZAG managed?
VSB is passively managed by Vanguard. It tracks the Bloomberg Global Aggregate Canadian Government/Credit 1-5 Year Float Adjusted Bond Total Return Index - CAD benchmark. ZAG is passively managed by BMO. It tracks the FTSE Canada Universe Bond TR Index - CAD benchmark.
What sectors do VSB and ZAG emphasize?
VSB is most exposed to Sovereign, Finance, and Municipal. ZAG is most exposed to Sovereign, Municipal, and Finance.
Which ETF is attracting more investor flows: VSB or ZAG?
Year to date, VSB has seen +$507.76 M in net flows, compared with +$1,622.04 M for ZAG. ZAG has attracted more net investor money so far.
How do the fees of VSB and ZAG compare?
VSB has an expense ratio of 0.12%, while ZAG has an expense ratio of 0.09%.
What are the top holdings of VSB and ZAG?
VSB's largest holdings include Canada, Bonds 3% 1sep2031, CAD, Canada, Bonds 2.75% 1sep2030, CAD, and Canada, Bonds 2.75% 1mar2031, CAD. ZAG's top holdings include Canada, Bonds 3% 1jun2034, CAD, Canada, Bonds 2.5% 1nov2027, CAD, and Canada, Bonds 2.25% 1feb2028, CAD.
Which ETF is more diversified: VSB or ZAG?
VSB holds 562 securities, while ZAG holds 86. On holdings count, VSB is the more diversified portfolio.
Recent articles about VSB and ZAG
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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.