VS
BMO Floating Rate High Yield ETF (ZFH) and Vanguard Canadian Ultra-Short Government Bond Index ETF (VVSG) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZFH focuses its top 3 sector exposures on Sovereign, while VVSG leans towards Sovereign. When evaluating costs, ZFH features a management fee (MER) of 0.4%, compared to 0.1% for VVSG. Performance-wise, ZFH has returned 2.06% year-to-date with +$12 M in net flows, whereas VVSG is at 1.89% with +$103 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
ZFH
VVSG
| AuM | $268.36 M | $252.96 M |
| Management Fees | 0.40% | 0.10% |
| Exp. ratio | 0.44% | 0.12% |
| Tracking Difference | - | -0.13% |
Historical performance and flows
As of October 19, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZFH | -1.22% | -0.39% | +2.06% | +3.57% | +30.43% |
VVSG | +0.17% | +0.50% | +1.89% | +2.34% | - | |
| Flows | ZFH | +$7 M | +$22 M | +$12 M | +$52 M | +$189 M |
VVSG | +$11 M | +$33 M | +$103 M | +$171 M | - |
ZFH vs VVSG exposure
Countries
ZFH
Canada
93.31%
VVSG
Canada
100.00%
Sectors
ZFH
Sovereign
93.31%
VVSG
Sovereign
100.00%
As of October 19, 2026
Top 10 Holdings
ZFH
Canada, Bills 0% 16dec2026, CAD (182D)
40.51%
Canada, Bills 0% 7oct2026, CAD (364D)
32.78%
Canada, Bills 0% 9sep2026, CAD (364D)
20.02%
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%
Diversification
ZFH
Total weight of top 10 holdings out of 3 total
93.31%
VVSG
Total weight of top 10 holdings out of 24 total
63.43%
Characteristics
Compare
ZFH
VVSG
| Provider | BMO | Vanguard |
| Management | Actively managed | Passively 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 | 5.00% | 2.48% |
| Meets ESG criteria | No | No |
| Inception Date | February 14, 2014 | September 9, 2024 |
Frequently asked questions about ZFH and VVSG
Which ETF has performed better year to date: ZFH or VVSG?
As of October 19, 2026, ZFH has returned 2.06% year to date, while VVSG has returned 1.89%. ZFH is ahead on YTD performance.
Which ETF is larger by assets under management: ZFH or VVSG?
As of October 19, 2026, ZFH manages $268.36 M in assets, while VVSG manages $252.96 M. ZFH is the larger fund by AUM.
How are ZFH and VVSG managed?
ZFH is actively managed by BMO. It does not track an index. VVSG is passively managed by Vanguard. It tracks the Bloomberg Canadian Short Treasury 1-12m Float Adjusted Index - CAD benchmark.
What sectors do ZFH and VVSG emphasize?
ZFH is most exposed to Sovereign. VVSG is most exposed to Sovereign.
Which ETF is attracting more investor flows: ZFH or VVSG?
Year to date, ZFH has seen +$12.41 M in net flows, compared with +$103.19 M for VVSG. VVSG has attracted more net investor money so far.
How do the fees of ZFH and VVSG compare?
ZFH has an expense ratio of 0.44%, while VVSG has an expense ratio of 0.12%.
What are the top holdings of ZFH and VVSG?
ZFH's largest holdings include Canada, Bills 0% 16dec2026, CAD (182D), Canada, Bills 0% 7oct2026, CAD (364D), and Canada, Bills 0% 9sep2026, CAD (364D). VVSG's top holdings include Canada, Bonds 2.5% 1aug2027, CAD, Canada, Bills 0% 21oct2026, CAD (182D), and Canada, Bills 0% 4nov2026, CAD (364D).
Which ETF is more diversified: ZFH or VVSG?
ZFH holds 3 securities, while VVSG holds 24. On holdings count, VVSG is the more diversified portfolio.
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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.