A side-by-side comparison of Vanguard FTSE Developed Europe All Cap Index ETF (VE) and BMO MSCI Europe High Quality CAD Hedged (ZEQ) to help Canadian investors make an informed decision.
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1-Year Performance
Normalised to 100 at the start — shows relative return over the trailing 12 months.
Head-to-Head Comparison
| Metric | VE | ZEQ |
|---|---|---|
| YTD Return | +7.58%✓ | +4.11% |
| 1-Day Change | +0.10%✓ | -0.03% |
| 1-Week Change | -0.82% | -0.06%✓ |
| 1-Month Change | +2.32%✓ | +1.84% |
| Current Price | $48.51 | $32.16 |
| AUM | $660M✓ | $316M |
| MER (Expense Ratio) | 0% | 0% |
| Dividend Yield | 2.40% | 2.98%✓ |
| Distribution Frequency | Quarterly | Quarterly |
| Inception Date | 2014-06-30 | 2014-02-10 |
| Holdings Count | 10 | 10 |
| MorningStar Rating | ★★★★ | ★★ |
| Category | European Equity | European Equity |
| Beta | 1.01 | 0.90 |
| 52-Week High | $48.84 | $32.53 |
| 52-Week Low | $39.01 | $28.01 |
| 50-Day MA | $47.18 | $31.29 |
| 200-Day MA | $45.24 | $30.85 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | VE | ZEQ |
|---|---|---|
| YTD | +7.58%✓ | +4.11% |
| 1 Year | +20.74%✓ | +6.26% |
| 3 Year | +18.60%✓ | +6.15% |
| 5 Year | +11.37%✓ | +4.99% |
| 10 Year | +10.66%✓ | +9.16% |
| 1Y Volatility | 11.47% | 11.33% |
| Sharpe Ratio (3Y) | 1.31 | 0.27 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | ASML | ASML Holding N.V. | 3.96% |
| 2 | HSBA | HSBC Holdings PLC | 2.04% |
| 3 | ROP | Roche Holding AG | 1.87% |
| 4 | NOVN | Novartis AG | 1.83% |
| 5 | AZN | AstraZeneca PLC | 1.76% |
| 6 | NESN | Nestle S.A. | 1.65% |
| 7 | SHEL | Shell plc | 1.51% |
| 8 | SIE | Siemens Aktiengesellschaft | 1.46% |
| 9 | SAP | SAP SE | 1.18% |
| 10 | SAN | Banco Santander S.A. | 1.16% |
| 1 | ASML | ASML Holding N.V. | 7.63% |
| 2 | NOVN | Novartis AG | 5.59% |
| 3 | ROP | Roche Holding AG | 5.40% |
| 4 | AZN | AstraZeneca PLC | 5.09% |
| 5 | NESN | Nestle S.A. | 4.74% |
| 6 | NOVO-B | Novo Nordisk A/S | 3.75% |
| 7 | ABBN | ABB Ltd | 3.41% |
| 8 | ALV | Allianz SE VNA O.N. | 2.82% |
| 9 | SU | Schneider Electric S.E. | 2.70% |
| 10 | ULVR | Unilever PLC | 2.58% |
Sector Weights
| Sector | VE | ZEQ |
|---|---|---|
| Basic Materials | 5.95% | 6.33% |
| Communication Services | 3.10% | 1.50% |
| Consumer Cyclicals | 6.87% | 9.70% |
| Consumer Defensive | 8.22% | 15.24% |
| Energy | 5.34% | 0.00% |
| Financial Services | 23.26% | 9.42% |
| Healthcare | 12.37% | 24.93% |
| Industrials | 20.10% | 21.78% |
| Real Estate | 1.63% | 0.00% |
| Technology | 8.38% | 10.79% |
| Utilities | 4.79% | 0.30% |
About VE
Vanguard FTSE Developed Europe All Cap Index ETF seeks to track, to the extent reasonably possible and before fees and expenses, the performance of a broad European equity index that focuses on developed European markets. Currently, this Vanguard ETF seeks to track the FTSE Developed Europe All Cap Index (or any successor thereto). It invests directly or indirectly primarily in large-, mid-, and small-capitalization stocks of companies located in developed European markets.
About ZEQ
BMO MSCI Europe High Quality CAD Hedged (ZEQ.TO) is a Canadian-listed ETF traded on the Toronto Stock Exchange. More detailed information will be available soon.
Which ETF is Right for You?
Both VE and ZEQ are listed on Canadian exchanges and accessible through most Canadian brokerages including Questrade, Wealthsimple Trade, TD Direct, and Interactive Brokers.
Based on the available data, VE scores higher across our tracked metrics including YTD performance, dividend yield, and AUM — though both ETFs warrant individual research before investing.
- Consider your account type (TFSA, RRSP, non-registered) as it can affect dividend taxation.
- Compare management expense ratios (MER) directly on each provider's website.
- Look at average daily trading volume to assess liquidity.
- Review the fund's underlying index and holdings to ensure the exposure matches your goals.
This is not financial advice. Always do your own research or consult a licensed financial advisor before investing.
Frequently Asked Questions
What is the difference between VE and ZEQ?
VE (Vanguard FTSE Developed Europe All Cap Index ETF) and ZEQ (BMO MSCI Europe High Quality CAD Hedged) are both Canadian-listed ETFs. Key differences include their AUM ($660M vs $316M), dividend yield (2.40% vs 2.98%), and year-to-date performance (+7.58% vs +4.11%).
Is VE better than ZEQ?
There is no single "better" ETF — it depends on your investment goals. If you prioritise recent performance, VE has outperformed year-to-date. Always review the fund's prospectus and consider your tax situation.
Can I buy VE and ZEQ on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both VE and ZEQ should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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