VS
Compare BMO MSCI Canada Value Index ETF (ZVC) vs Vanguard FTSE Canada Index ETF (VCE) to find the best fit for your portfolio. ZVC and VCE provide the same top sector exposures: Finance, Energy, and Non-Energy Materials. When evaluating costs, ZVC features a management fee (MER) of 0.35%, compared to 0.05% for VCE. Performance-wise, ZVC has returned 21.93% year-to-date with +$7 M in net flows, whereas VCE is at 14.08% with +$367 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
ZVC
VCE
| AuM | $57.79 M | $3,715.51 M |
| Management Fees | 0.35% | 0.05% |
| Exp. ratio | 0.40% | 0.06% |
| Tracking Difference | -0.61% | 0.67% |
Historical performance and flows
As of September 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZVC | +0.83% | +5.45% | +21.93% | +35.54% | +89.74% |
VCE | -1.95% | +3.53% | +14.08% | +24.15% | +95.53% | |
| Flows | ZVC | +$2 M | +$2 M | +$7 M | +$9 M | +$16 M |
VCE | +$37 M | +$101 M | +$367 M | +$503 M | +$978 M |
ZVC vs VCE exposure
Countries
ZVC
Canada
99.59%
VCE
Canada
97.36%
Sectors
ZVC
Finance
41.53%
Energy
18.27%
Non-Energy Materials
13.84%
Industrials
8.49%
Technology
7.81%
Other
10.05%
VCE
Finance
45.69%
Energy
17.67%
Non-Energy Materials
13.15%
Industrials
7.48%
Other
16.01%
As of September 11, 2026
Top 10 Holdings
ZVC
The Toronto-Dominion Bank
7.89%
The Bank of Nova Scotia
7.14%
Bank of Montreal
6.25%
Manulife Financial Corp.
6.15%
Suncor Energy, Inc.
5.81%
CGI, Inc.
4.98%
Barrick Mining Corp.
4.78%
Canadian Natural Resources Ltd.
4.44%
Canadian Pacific Kansas City Ltd.
4.26%
Canadian Imperial Bank of Commerce
3.87%
VCE
Royal Bank of Canada
9.32%
The Toronto-Dominion Bank
6.38%
Shopify, Inc.
4.57%
Bank of Montreal
4.04%
Enbridge, Inc.
3.78%
Canadian Imperial Bank of Commerce
3.47%
The Bank of Nova Scotia
3.44%
Canadian Natural Resources Ltd.
3.10%
Brookfield Corp.
2.83%
Suncor Energy, Inc.
2.54%
Diversification
ZVC
Total weight of top 10 holdings out of 50 total
55.56%
VCE
Total weight of top 10 holdings out of 85 total
43.46%
Characteristics
Compare
ZVC
VCE
| Provider | BMO | Vanguard |
| Management | Passively managed | Passively managed |
| Benchmark | MSCI Canada Enhanced Value Capped Index - CAD | FTSE Canada Domestic TR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.88% | 2.63% |
| Meets ESG criteria | No | No |
| Inception Date | October 4, 2017 | November 30, 2011 |
Frequently asked questions about ZVC and VCE
Which ETF has performed better year to date: ZVC or VCE?
As of September 11, 2026, ZVC has returned 21.93% year to date, while VCE has returned 14.08%. ZVC is ahead on YTD performance.
Which ETF is larger by assets under management: ZVC or VCE?
As of September 11, 2026, ZVC manages $57.79 M in assets, while VCE manages $3.72 B. VCE is the larger fund by AUM.
How are ZVC and VCE managed?
ZVC is passively managed by BMO. It tracks the MSCI Canada Enhanced Value Capped Index - CAD benchmark. VCE is passively managed by Vanguard. It tracks the FTSE Canada Domestic TR Index - CAD benchmark.
What sectors do ZVC and VCE emphasize?
ZVC is most exposed to Finance, Energy, and Non-Energy Materials. VCE is most exposed to Finance, Energy, and Non-Energy Materials.
Which ETF is attracting more investor flows: ZVC or VCE?
Year to date, ZVC has seen +$6.53 M in net flows, compared with +$366.87 M for VCE. VCE has attracted more net investor money so far.
How do the fees of ZVC and VCE compare?
ZVC has an expense ratio of 0.40%, while VCE has an expense ratio of 0.06%.
What are the top holdings of ZVC and VCE?
ZVC's largest holdings include The Toronto-Dominion Bank, The Bank of Nova Scotia, and Bank of Montreal. VCE's top holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and Shopify, Inc..
Which ETF is more diversified: ZVC or VCE?
ZVC holds 50 securities, while VCE holds 84. On holdings count, VCE is the more diversified portfolio.
Recent articles about ZVC and VCE
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