VS
Vanguard Canadian Ultra-Short Government Bond Index ETF (VVSG) and NBI Sustainable Canadian Bond ETF (NSCB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that VVSG focuses its top 3 sector exposures on Sovereign, while NSCB leans towards Finance, Sovereign, and Utilities. When evaluating costs, VVSG features a management fee (MER) of 0.1%, compared to 0.63% for NSCB. Performance-wise, VVSG has returned 1.9% year-to-date with +$104 M in net flows, whereas NSCB is at 2.7% with +$39 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
VVSG
NSCB
| AuM | $254.25 M | $2,802.47 M |
| Management Fees | 0.10% | 0.63% |
| Exp. ratio | 0.12% | 0.61% |
| Tracking Difference | -0.13% | - |
Historical performance and flows
As of October 20, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | VVSG | +0.18% | +0.51% | +1.90% | +2.35% | - |
NSCB | -0.39% | -2.01% | -2.70% | -4.86% | +5.61% | |
| Flows | VVSG | +$13 M | +$34 M | +$104 M | +$172 M | - |
NSCB | +$1 M | +$43 M | +$39 M | +$52 M | +$913 M |
VVSG vs NSCB exposure
Countries
VVSG
Canada
100.00%
NSCB
Canada
94.79%
Sectors
VVSG
Sovereign
100.00%
NSCB
Finance
28.83%
Sovereign
19.54%
Utilities
19.38%
Municipal
16.63%
Industrials
7.35%
Other
8.27%
As of October 20, 2026
Top 10 Holdings
VVSG
Canada, Bonds 2.5% 1aug2027, CAD
8.25%
Canada, Bills 0% 21oct2026, CAD (182D)
7.99%
Canada, Bills 0% 4nov2026, CAD (364D)
7.70%
Canada, Bills 0% 18nov2026, CAD (182D)
7.47%
Canada, Bonds 2.75% 1may2027, CAD
6.54%
Canada, Bills 0% 7oct2026, CAD (364D)
6.47%
Canada, Bills 0% 2dec2026, CAD (364D)
6.01%
Canada, Bonds 3% 1feb2027, CAD
5.58%
Canada, Bonds 1.25% 1mar2027, CAD
3.99%
Canada, Bills 0% 19may2027, CAD (364D)
3.44%
NSCB
Canada, Bonds 3.5% 1mar2034, CAD
9.82%
Canada, Bonds 3.25% 1mar2036, CAD
4.47%
Hydro-Quebec, 5% 15feb2050, CAD (JN)
3.20%
Canada, Bonds 3.5% 1dec2056, CAD (D)
2.72%
Province of Ontario, 4.1% 7oct2054, CAD (DMTN267)
2.62%
Canada, Bonds 3% 1mar2032, CAD (C)
2.53%
PSP Capital, 4.4% 2dec2030, CAD (G-13)
2.49%
PSP Capital, 2.6% 1mar2032, CAD (G-4)
2.40%
Hydro-Quebec, 4% 15feb2055, CAD (JQ)
2.29%
Province of Ontario, FRN 19nov2030, CAD (DMTN274)
2.19%
Diversification
VVSG
Total weight of top 10 holdings out of 24 total
63.43%
NSCB
Total weight of top 10 holdings out of 158 total
34.72%
Characteristics
Compare
VVSG
NSCB
| Provider | Vanguard | National Bank Investments |
| Management | Passively managed | Actively managed |
| Benchmark | Bloomberg Canadian Short Treasury 1-12m Float Adjusted Index - CAD | - |
| Replication Method | Direct (Physical) | - |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.48% | 0.00% |
| Meets ESG criteria | No | Yes |
| Inception Date | September 9, 2024 | January 23, 2020 |
Frequently asked questions about VVSG and NSCB
Which ETF has performed better year to date: VVSG or NSCB?
As of October 20, 2026, VVSG has returned 1.90% year to date, while NSCB has returned -2.70%. VVSG is ahead on YTD performance.
Which ETF is larger by assets under management: VVSG or NSCB?
As of October 20, 2026, VVSG manages $254.25 M in assets, while NSCB manages $2.80 B. NSCB is the larger fund by AUM.
How are VVSG and NSCB managed?
VVSG is passively managed by Vanguard. It tracks the Bloomberg Canadian Short Treasury 1-12m Float Adjusted Index - CAD benchmark. NSCB is actively managed by National Bank Investments. It does not track an index.
What sectors do VVSG and NSCB emphasize?
VVSG is most exposed to Sovereign. NSCB is most exposed to Finance, Sovereign, and Utilities.
Which ETF is attracting more investor flows: VVSG or NSCB?
Year to date, VVSG has seen +$104.44 M in net flows, compared with +$39.15 M for NSCB. VVSG has attracted more net investor money so far.
How do the fees of VVSG and NSCB compare?
VVSG has an expense ratio of 0.12%, while NSCB has an expense ratio of 0.61%.
What are the top holdings of VVSG and NSCB?
VVSG's largest holdings include Canada, Bonds 2.5% 1aug2027, CAD, Canada, Bills 0% 21oct2026, CAD (182D), and Canada, Bills 0% 4nov2026, CAD (364D). 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: VVSG or NSCB?
VVSG holds 24 securities, while NSCB holds 152. On holdings count, NSCB is the more diversified portfolio.
Recent articles about VVSG and NSCB
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