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 and VAB provide the same top sector exposures: Sovereign, Municipal, and Finance. When evaluating costs, ZDB features a management fee (MER) of 0.09%, compared to 0.08% for VAB. Performance-wise, ZDB has returned 1.05% year-to-date with +$249 M in net flows, whereas VAB is at 0.92% with +$1 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
ZDB
VAB
| AuM | $1,369.59 M | $7,503.60 M |
| Management Fees | 0.09% | 0.08% |
| Exp. ratio | 0.10% | 0.09% |
| Tracking Difference | - | -0.38% |
Historical performance and flows
As of September 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZDB | -1.15% | -2.56% | -1.05% | -1.30% | +11.99% |
VAB | -1.18% | -2.58% | -0.92% | -1.10% | +13.90% | |
| Flows | ZDB | +$52 M | +$108 M | +$249 M | +$585 M | +$526 M |
VAB | +$131 M | +$355 M | +$1,204 M | +$1,936 M | +$3,391 M |
ZDB vs VAB exposure
Countries
ZDB
Canada
100.00%
VAB
Canada
96.44%
Sectors
ZDB
Sovereign
33.15%
Municipal
31.50%
Finance
11.53%
Government Agencies
9.96%
Other
13.86%
VAB
Sovereign
34.45%
Municipal
30.47%
Finance
13.10%
Government Agencies
7.29%
Other
14.69%
As of September 11, 2026
Top 10 Holdings
ZDB
Canada, Bond 0.5 1oct2030 10Y
18.46%
CMHC, 1.9% 15mar2031, CAD (100)
6.90%
Province of Quebec, 1.5% 1sep2031, CAD (B128)
5.47%
Canada, Bonds 2.25% 1dec2029, CAD
5.20%
Province of Ontario, 2.65% 2dec2050, CAD (DMTN242)
5.12%
Province of Ontario, 2.05% 2jun2030, CAD (DMTN243)
5.10%
Sun Life Financial, 2.06% 1oct2035, CAD (2020-2)
5.00%
Toronto-Dominion Bank, 1.896% 11sep2028, CAD
3.90%
Canada, Bonds 2% 1jun2032, CAD
3.11%
Pembina Pipeline Corporation, 3.31% 1feb2030, CAD (15)
2.63%
VAB
Canada, Bonds 2.75% 1mar2031, CAD
1.82%
Canada, Bonds 2.75% 1sep2030, CAD
1.63%
Canada, Bonds 3.25% 1dec2035, CAD
1.56%
Canada, Bonds 3.25% 1jun2036, CAD
1.51%
Canada, Bonds 3.25% 1jun2035, CAD
1.44%
Canada, Bonds 2.75% 1mar2030, CAD
1.22%
Canada, Bonds 3% 1jun2034, CAD
1.18%
Canada, Bonds 3.5% 1sep2029, CAD
1.16%
Canada, Bonds 2.5% 1may2028, CAD
1.14%
Canada, Bonds 3.5% 1dec2057, CAD
1.13%
Diversification
ZDB
Total weight of top 10 holdings out of 48 total
60.88%
VAB
Total weight of top 10 holdings out of 1,305 total
13.78%
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 | 1.90% | 3.48% |
| 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 September 11, 2026, ZDB has returned -1.05% year to date, while VAB has returned -0.92%. VAB is ahead on YTD performance.
Which ETF is larger by assets under management: ZDB or VAB?
As of September 11, 2026, ZDB manages $1.37 B in assets, while VAB manages $7.50 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 Finance. VAB is most exposed to Sovereign, Municipal, and Finance.
Which ETF is attracting more investor flows: ZDB or VAB?
Year to date, ZDB has seen +$248.56 M in net flows, compared with +$1,203.84 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 Quebec, 1.5% 1sep2031, CAD (B128). VAB's top holdings include Canada, Bonds 2.75% 1mar2031, CAD, Canada, Bonds 2.75% 1sep2030, CAD, and Canada, Bonds 3.25% 1dec2035, CAD.
Which ETF is more diversified: ZDB or VAB?
ZDB holds 48 securities, while VAB holds 1305. On holdings count, VAB is the more diversified portfolio.
Recent articles about ZDB and VAB
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