VS
Compare BMO Discount Bond Index ETF (ZDB) vs Vanguard Canadian Aggregate Bond Index ETF (VAB) to find the best fit for your portfolio. ZDB provides Sovereign, Municipal, and Government agencies exposures, while VAB is primarily weighted in Municipal, Sovereign, and Government agencies. When evaluating costs, ZDB features a management fee (MER) of 0.09%, compared to 0.08% for VAB. Performance-wise, ZDB has returned 0.76% year-to-date with +$70 M in net flows, whereas VAB is at 0.86% with +$604 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
ZDB
VAB
| AuM | $1,225.21 M | $7,145.63 M |
| Management Fees | 0.09% | 0.08% |
| Exp. ratio | 0.10% | 0.09% |
| Tracking Difference | - | -0.36% |
Historical performance and flows
As of April 24, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZDB | +1.46% | +0.01% | +0.76% | +2.44% | +10.37% |
VAB | +1.50% | +0.04% | +0.86% | +2.77% | +12.40% | |
| Flows | ZDB | +$20 M | +$67 M | +$70 M | +$441 M | +$365 M |
VAB | +$103 M | +$363 M | +$604 M | +$1,714 M | +$3,062 M |
ZDB vs VAB exposure
Countries
ZDB
Canada
100.00%
VAB
Canada
98.29%
Sectors
ZDB
Sovereign
33.26%
Municipal
32.65%
Government agencies
9.33%
Banks
7.15%
Other
17.60%
VAB
Municipal
29.06%
Sovereign
24.44%
Other
19.34%
Other
27.15%
As of April 24, 2026
Top 10 Holdings
ZDB
Canada, Bond 0.5 1oct2030 10Y
18.41%
CMHC, 1.9% 15mar2031, CAD (100)
6.90%
Province of Ontario, 2.05% 2jun2030, CAD (DMTN243)
5.74%
Province of Ontario, 2.65% 2dec2050, CAD (DMTN242)
5.64%
Province of Quebec, 1.5% 1sep2031, CAD (B128)
5.46%
Canada, Bonds 2.25% 1dec2029, CAD
5.21%
Toronto-Dominion Bank, 1.896% 11sep2028, CAD
3.89%
Canada, Bonds 2% 1jun2032, CAD
3.11%
Canada, Bond 2.75 1dec2048 30Y
2.80%
Greater Toronto Airports Authority, 2.75% 17oct2039, CAD (2019-2)
2.71%
VAB
CA135087T537
1.57%
CA135087T792
1.54%
CA135087T388
1.43%
Canada, Bonds 3.25% 1jun2035, CAD
1.41%
Canada, Bonds 3% 1jun2034, CAD
1.28%
Canada, Bonds 2.75% 1mar2030, CAD
1.25%
CA135087T610
1.21%
Canada, Bonds 3.5% 1sep2029, CAD
1.20%
Canada, Bond 1.25 1jun2030 10Y
1.19%
Canada, Bonds 3.25% 1dec2034, CAD
1.18%
Diversification
ZDB
Total weight of top 10 holdings out of 41 total
59.87%
VAB
Total weight of top 10 holdings out of 1,295 total
13.27%
Characteristics
Compare
ZDB
VAB
| Provider | BMO | Vanguard |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Universe Discount Bond Index - CAD | Bloomberg Global Aggregate Canadian Float Adjusted Bond Total Return Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.12% | 3.33% |
| Meets ESG criteria | No | No |
| Inception Date | February 10, 2014 | November 30, 2011 |
Frequently asked questions about ZDB and VAB
Which ETF has performed better year to date: ZDB or VAB?
As of April 24, 2026, ZDB has returned 0.76% year to date, while VAB has returned 0.86%. VAB is ahead on YTD performance.
Which ETF is larger by assets under management: ZDB or VAB?
As of April 24, 2026, ZDB manages $1.23 B in assets, while VAB manages $7.15 B. VAB is the larger fund by AUM.
How are ZDB and VAB managed?
ZDB is passively managed by BMO. It tracks the FTSE Canada Universe Discount Bond Index - CAD benchmark. VAB is passively managed by Vanguard. It tracks the Bloomberg Global Aggregate Canadian Float Adjusted Bond Total Return Index - CAD benchmark.
What sectors do ZDB and VAB emphasize?
ZDB is most exposed to Sovereign, Municipal, and Government agencies. VAB is most exposed to Municipal, Sovereign, and Government agencies.
Which ETF is attracting more investor flows: ZDB or VAB?
Year to date, ZDB has seen +$69.71 M in net flows, compared with +$604.49 M for VAB. VAB has attracted more net investor money so far.
How do the fees of ZDB and VAB compare?
ZDB has an expense ratio of 0.10%, while VAB has an expense ratio of 0.09%.
What are the top holdings of ZDB and VAB?
ZDB's largest holdings include Canada, Bond 0.5 1oct2030 10Y, CMHC, 1.9% 15mar2031, CAD (100), and Province of Ontario, 2.05% 2jun2030, CAD (DMTN243). VAB's top holdings include Canada, Bonds 3.25% 1jun2035, CAD and Canada, Bonds 3% 1jun2034, CAD.
Which ETF is more diversified: ZDB or VAB?
ZDB holds 41 securities, while VAB holds 1053. On holdings count, VAB is the more diversified portfolio.
Recent articles about ZDB and VAB
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