VS
Vanguard Canadian Short-Term Bond Index ETF (VSB) and BMO Equal Weight Utilities Index ETF (ZUT) offer distinct profiles for Canadian ETF investors. A direct comparison shows that VSB focuses its top 3 sector exposures on Sovereign, Municipal, and Banks, while ZUT leans towards Utilities. When evaluating costs, VSB features a management fee (MER) of 0.1%, compared to 0.55% for ZUT. Performance-wise, VSB has returned 0.57% year-to-date with +$201 M in net flows, whereas ZUT is at 19.33% with -$75 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
VSB
ZUT
| AuM | $1,548.98 M | $888.42 M |
| Management Fees | 0.10% | 0.55% |
| Exp. ratio | 0.12% | 0.61% |
| Tracking Difference | -0.37% | -0.85% |
Historical performance and flows
As of May 21, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | VSB | +0.07% | -0.43% | +0.57% | +2.82% | +15.66% |
ZUT | +5.25% | +8.88% | +19.33% | +32.47% | +44.46% | |
| Flows | VSB | +$65 M | -$45 M | +$201 M | +$457 M | +$253 M |
ZUT | -$15 M | -$13 M | -$75 M | +$118 M | +$234 M |
VSB vs ZUT exposure
Countries
VSB
Canada
97.41%
ZUT
Canada
85.16%
Bermuda
14.84%
Sectors
VSB
Other
27.23%
Sovereign
22.13%
Municipal
15.28%
Banks
9.87%
Government agencies
8.89%
Other
16.60%
ZUT
Utilities
100.00%
As of May 21, 2026
Top 10 Holdings
VSB
CA135087T792
3.72%
CA135087T388
3.65%
Canada, Bonds 2.75% 1mar2030, CAD
2.91%
CA135087T610
2.77%
Canada, Bonds 3.5% 1sep2029, CAD
2.74%
CA135087T461
2.67%
Canada, Bonds 2.75% 1may2027, CAD
2.44%
Canada, Bonds 4% 1mar2029, CAD
2.38%
CA135087T958
2.38%
Canada, Bond 1.25 1jun2030 10Y
2.36%
ZUT
BORALEX
9.91%
NORTHLAND POWER
7.97%
BROOKFIELD RENEWABLE PARTNERS
7.84%
CAPITAL POWER
7.84%
ALTAGAS
7.70%
ATCO
7.53%
ALGONQUIN POWER
7.52%
TRANSALTA
7.49%
EMERA
7.42%
CANADIAN UTILITIES
7.38%
Diversification
VSB
Total weight of top 10 holdings out of 570 total
28.01%
ZUT
Total weight of top 10 holdings out of 13 total
78.61%
Characteristics
Compare
VSB
ZUT
| 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 | Solactive Equal Weight Canada Utilities Total Return Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.06% | 2.81% |
| Meets ESG criteria | No | No |
| Inception Date | November 30, 2011 | January 19, 2010 |
Frequently asked questions about VSB and ZUT
Which ETF has performed better year to date: VSB or ZUT?
As of May 21, 2026, VSB has returned 0.57% year to date, while ZUT has returned 19.33%. ZUT is ahead on YTD performance.
Which ETF is larger by assets under management: VSB or ZUT?
As of May 21, 2026, VSB manages $1.55 B in assets, while ZUT manages $888.42 M. VSB is the larger fund by AUM.
How are VSB and ZUT 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. ZUT is passively managed by BMO. It tracks the Solactive Equal Weight Canada Utilities Total Return Index - CAD benchmark.
What sectors do VSB and ZUT emphasize?
VSB is most exposed to Sovereign, Municipal, and Banks. ZUT is most exposed to Utilities.
Which ETF is attracting more investor flows: VSB or ZUT?
Year to date, VSB has seen +$201.46 M in net flows, compared with -$74.85 M for ZUT. VSB has attracted more net investor money so far.
How do the fees of VSB and ZUT compare?
VSB has an expense ratio of 0.12%, while ZUT has an expense ratio of 0.61%.
What are the top holdings of VSB and ZUT?
VSB's largest holdings include Canada, Bonds 2.75% 1mar2030, CAD and Canada, Bonds 3.5% 1sep2029, CAD. ZUT's top holdings include BORALEX, NORTHLAND POWER, and BROOKFIELD RENEWABLE PARTNERS.
Which ETF is more diversified: VSB or ZUT?
VSB holds 453 securities, while ZUT holds 13. On holdings count, VSB is the more diversified portfolio.
Recent articles about VSB and ZUT
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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.