VS
BMO Covered Call Canadian Banks ETF (ZWB) and Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZWB focuses its top 3 sector exposures on Financials, while VDY leans towards Financials, Energy, and Utilities. When evaluating costs, ZWB features a management fee (MER) of 0.65%, compared to 0.2% for VDY. Performance-wise, ZWB has returned 10.55% year-to-date with +$10 M in net flows, whereas VDY is at 12.94% with +$940 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
ZWB
VDY
| AuM | $4,148.33 M | $7,212.31 M |
| Management Fees | 0.65% | 0.20% |
| Exp. ratio | 0.72% | 0.22% |
| Tracking Difference | - | -0.02% |
Historical performance and flows
As of April 24, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZWB | +9.56% | +9.84% | +10.55% | +54.48% | +83.66% |
VDY | +4.55% | +10.29% | +12.94% | +49.09% | +88.92% | |
| Flows | ZWB | -$9 M | +$2 M | +$10 M | -$45 M | -$148 M |
VDY | +$284 M | +$740 M | +$940 M | +$1,968 M | +$2,977 M |
ZWB vs VDY exposure
Countries
ZWB
Canada
100.12%
VDY
Canada
99.51%
Sectors
ZWB
Financials
100.12%
VDY
Financials
52.27%
Energy
31.07%
Other
16.66%
As of April 24, 2026
Top 10 Holdings
ZWB
TORONTO DOMINION
16.89%
ROYAL BK CANADA
16.86%
BNS
16.70%
BANK OF MONTREAL
16.61%
NATIONAL BANK OF CANADA
16.60%
CDN IMPERIAL BK
16.45%
VDY
ROYAL BK CANADA
14.07%
TORONTO DOMINION
9.76%
ENBRIDGE
7.35%
CDN NATURAL RESOURCE
6.20%
BANK OF MONTREAL
5.97%
CDN IMPERIAL BK
5.54%
BNS
5.38%
SUNCOR ENERGY
4.95%
TC ENERGY CORP
4.04%
MANULIFE-S
3.60%
Diversification
ZWB
Total weight of top 10 holdings out of 6 total
100.12%
VDY
Total weight of top 10 holdings out of 61 total
66.86%
Characteristics
Compare
ZWB
VDY
| Provider | BMO | Vanguard |
| Management | Actively managed | Passively managed |
| Benchmark | - | FTSE Canada High Dividend Yield Net Tax Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 5.04% | 3.60% |
| Meets ESG criteria | No | No |
| Inception Date | January 28, 2011 | November 2, 2012 |
Frequently asked questions about ZWB and VDY
Which ETF has performed better year to date: ZWB or VDY?
As of April 24, 2026, ZWB has returned 10.55% year to date, while VDY has returned 12.94%. VDY is ahead on YTD performance.
Which ETF is larger by assets under management: ZWB or VDY?
As of April 24, 2026, ZWB manages $4.15 B in assets, while VDY manages $7.21 B. VDY is the larger fund by AUM.
How are ZWB and VDY managed?
ZWB is actively managed by BMO. It does not track an index. VDY is passively managed by Vanguard. It tracks the FTSE Canada High Dividend Yield Net Tax Index - CAD benchmark.
What sectors do ZWB and VDY emphasize?
ZWB is most exposed to Financials. VDY is most exposed to Financials, Energy, and Utilities.
Which ETF is attracting more investor flows: ZWB or VDY?
Year to date, ZWB has seen +$10.50 M in net flows, compared with +$940.34 M for VDY. VDY has attracted more net investor money so far.
How do the fees of ZWB and VDY compare?
ZWB has an expense ratio of 0.72%, while VDY has an expense ratio of 0.22%.
What are the top holdings of ZWB and VDY?
ZWB's largest holdings include TORONTO DOMINION, ROYAL BK CANADA, and BNS. VDY's top holdings include ROYAL BK CANADA, TORONTO DOMINION, and ENBRIDGE.
Which ETF is more diversified: ZWB or VDY?
ZWB holds 6 securities, while VDY holds 58. On holdings count, VDY is the more diversified portfolio.
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