Compare
Head to head
All comparisons

VEQT vs ZEQT.

Vanguard or BMO? The numbers side by side, then our take.

Compare VEQT with
Side by side

VEQT and ZEQT, side by side

Measure
VEQT
Vanguard · since Jan 2019 · $15.7B
ZEQT
BMO · since Jan 2022 · $591M
Edge
Yearly fee
The MER. On $10,000: $22 vs $18 a year.
0.22%
0.18%
ZEQT
Companies held
More means broader.
13,743
9,000
VEQT
Canada share
Neither better nor worse. A matter of taste.
29.6%
25%
No winner
Past year
Past results only.
+19.1%
+19.6%
Tie
$10k, same window
Since Feb 2022, when both existed.
$18,611
$18,762
Tie
Typical day
Smaller means a calmer ride.
±0.60%
±0.60%
Tie
Payouts
How often cash is paid out.
Once a year
Every quarter
No winner

Where the money goes

Very similar mixes. VEQT holds a little more Canada.

VEQT
ZEQT
Growth, head to head

$10,000 in each, since Feb 2022.

Almost the same result. The difference is noise.

Drag across the chart to compare any date.

VEQT
$18,611
ZEQT
$18,762

Only the stretch both funds existed. Payouts reinvested. Past results only.

Our take

A close call, mostly on track record.

ZEQT is the youngest and smallest of the big three, with a mix close to XEQT’s and similar fees. It launched in 2022, so its record is shorter.

What we’d do

We’d pick VEQT for its longer history and bigger size. ZEQT doesn’t add anything VEQT doesn’t already do, but it’s a fine choice if your brokerage favours BMO funds or you like its slightly different mix. Either will serve a hands-off investor well.

Point by point

Tally: VEQT 4ZEQT 0Tie 1

  1. Track recordVEQT has been through the 2020 crash. ZEQT launched in 2022.Winner: VEQT
  2. CostVery close. ZEQT is a little cheaper on paper: 0.18% against 0.22% all in, 0.15% against 0.17% in management fees. Not enough to decide it.Winner: Tie
  3. SizeVEQT is many times larger ($15.7B against $591M), which means tighter trading spreads.Winner: VEQT
  4. Who owns the companyVanguard’s investor-owned setup versus a bank subsidiary.Winner: VEQT
  5. Companies heldAbout 13,700 in VEQT against about 9,000.Winner: VEQT

Our opinion, built on public fund data we update every quarter. Not financial advice; your situation may differ.

What the fee gap costs

Small fees, long time.

Same money, same growth, different fee. Move the sliders to see how much the gap adds up to. Assumes 6% a year before fees.

The gap after 25 years
$3,870

More in your pocket with ZEQT. Real, but small next to picking a fund you’ll actually keep.

VEQT · 0.22%
$407,464
ZEQT · 0.18%
$411,333
More matchups

Five more, same math.

The figure on each row is VEQT’s lead in growth, in points, since both funds existed.

Request a comparison
Questions

Asked a lot.

Not investment advice.

  • Both are all-stock, worldwide funds for long-term Canadian investors. The differences are the provider (Vanguard or iShares) and the mix: XEQT holds less Canada, 25% against 29.6%. Both charge a 0.17% management fee since the late-2025 cuts, and they’ve performed very similarly.

  • A lower fee means you keep more, all else equal. But a 0.02% gap, like the one between VEQT and XEQT, is about $20 a year on $100,000. Don’t let a tiny fee gap be the only reason you choose.

  • Smaller funds can have slightly wider trading spreads. ZEQT holds about $591M against VEQT’s $15.7B. For most people buying and holding with market orders during the day, the difference is negligible.

  • It depends on how you handle drops. VEQT is all stocks: more growth, bigger swings. VGRO adds 20% bonds for a smoother ride. Neither is better for everyone.

  • VFV holds only the 500 largest U.S. companies. It has no Canadian, international or emerging-market stocks. It’s a great fund, but it’s one market.

  • Both cover the global stock market. VEQT weights by company size. CAGE leans toward smaller, cheaper and more profitable companies. CAGE costs more: 0.28% against 0.22%.

  • Sort of. It doesn’t pick stocks on opinion, but it does follow rules that tilt away from the plain market. Think factor investing rather than stock picking.

  • Only if you really believe in the size and value premiums. They’ve paid off over long periods, but they’ve also vanished for ten years or more, most recently from 2010 to 2020. If you’d sell CAGE during a long stretch of lagging the index, you’d do worse than holding VEQT.

  • Yes. Some people use VEQT as a core and add CAGE on the side. Just know a 50/50 split dilutes the tilt and raises your overall fee.

  • The U.S. has had a historic run. It hasn’t always been this way: from 2000 to 2009 the S&P 500 went roughly nowhere while other markets grew. VEQT covers you if the U.S. doesn’t lead forever.

  • VFV costs 0.09% against VEQT’s 0.22%. On $100,000 that’s about $130 a year. Real, but small next to the bigger question: one market or the whole world.

  • Partly. S&P 500 companies earn about 40% of their revenue abroad, but their shares still move with the U.S. market, U.S. rules and U.S. interest rates. Owning companies listed around the world, as VEQT does, spreads both.

  • Common, but it’s a deliberate bet on more U.S. VEQT already holds about 45% U.S. A small VFV side position is fine if you mean to make that bet.

  • You’d be doubling up. VUN is one of VEQT’s building blocks, about 45% of the fund, so VEQT already owns it. Adding more only raises your U.S. share. That’s fine if it’s a bet you mean to make.

Stop comparing.

You’ve seen the numbers and our take. Pick the fund you’d hold through a bad year, automate it, and close the tab.