A side-by-side comparison of Vanguard Canadian Long-Term Bond Index ETF (VLB) and BMO Long Corporate Bond Index ETF (ZLC) 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 | VLB | ZLC |
|---|---|---|
| YTD Return | +0.84%✓ | +0.20% |
| 1-Day Change | -1.21% | -0.59%✓ |
| 1-Week Change | -1.45% | -0.92%✓ |
| 1-Month Change | -1.02% | -1.18%✓ |
| Current Price | $20.39 | $15.12 |
| AUM | $264M | $296M✓ |
| MER (Expense Ratio) | 0% | 0% |
| Dividend Yield | 3.88% | 4.56%✓ |
| Distribution Frequency | Monthly | Monthly |
| Inception Date | 2017-01-31 | 2010-01-19 |
| Holdings Count | 10 | 10 |
| MorningStar Rating | ★★★★ | ★★★★★ |
| Category | Canadian Long Term Fixed Income | Canadian Long Term Fixed Income |
| Beta | 1.02 | 0.85 |
| 52-Week High | $20.88 | $15.31 |
| 52-Week Low | $19.11 | $14.16 |
| 50-Day MA | $20.38 | $15.11 |
| 200-Day MA | $20.54 | $15.24 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | VLB | ZLC |
|---|---|---|
| YTD | +0.84%✓ | +0.20% |
| 1 Year | +3.56% | +4.67%✓ |
| 3 Year | +2.94% | +5.70%✓ |
| 5 Year | -1.78% | +0.76%✓ |
| 10 Year | — | +2.51% |
| 1Y Volatility | 7.95% | 6.50% |
| Sharpe Ratio (3Y) | -0.06 | 0.25 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | Canada (Government of) 2% | 5.03% | |
| 2 | Ontario (Province Of) 4.6% | 3.64% | |
| 3 | Ontario (Province Of) 5.85% | 3.32% | |
| 4 | Ontario (Province Of) 3.5% | 3.08% | |
| 5 | Ontario (Province Of) 2.9% | 3.02% | |
| 6 | Ontario (Province Of) 2.8% | 2.96% | |
| 7 | Quebec (Province Of) 4.25% | 2.85% | |
| 8 | Quebec (Province Of) 5% | 2.43% | |
| 9 | Quebec (Province Of) 3.1% | 2.33% | |
| 10 | Canada (Government of) 5.75% | 2.25% |
| 1 | Health Montreal Collective Limited Partnership 6.72% | 2.07% | |
| 2 | Bell Canada 3.5% | 1.29% | |
| 3 | CU Inc 2.96% | 1.29% | |
| 4 | 407 International Inc 3.65% | 1.25% | |
| 5 | Shaw Communications Inc. 6.75% | 1.23% | |
| 6 | Greater Toronto Airports Authority 2.75% | 1.21% | |
| 7 | Enbridge Incorporation 4.24% | 1.16% | |
| 8 | Greater Toronto Airports Authority 6.47% | 1.12% | |
| 9 | Ontario Power Generation Inc 3.84% | 1.08% | |
| 10 | Great-West Lifeco Incorporation 6.67% | 1.04% |
Sector Weights
| Sector | VLB | ZLC |
|---|---|---|
| Basic Materials | 0.00% | 0.00% |
| Communication Services | 0.00% | 0.00% |
| Consumer Cyclicals | 0.00% | 0.00% |
| Consumer Defensive | 0.00% | 0.00% |
| Energy | 0.00% | 0.00% |
| Financial Services | 0.00% | 0.00% |
| Healthcare | 0.00% | 0.00% |
| Industrials | 0.00% | 0.00% |
| Real Estate | 0.00% | 0.00% |
| Technology | 0.00% | 0.00% |
| Utilities | 0.00% | 0.00% |
About VLB
NA
About ZLC
The BMO Long Corporate Bond Index ETF has been designed to replicate, to the extent possible, the performance of the FTSE TMX Canada Long Term Corporate Bond Index, net of expenses. The Fund invests in a variety of debt securities primarily with a term to maturity greater than ten years. Securities held in the Index are generally corporate bonds issued domestically in Canada in Canadian dollars, with an investment grade rating.
Which ETF is Right for You?
Both VLB and ZLC 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, ZLC 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 VLB and ZLC?
VLB (Vanguard Canadian Long-Term Bond Index ETF) and ZLC (BMO Long Corporate Bond Index ETF) are both Canadian-listed ETFs. Key differences include their AUM ($264M vs $296M), dividend yield (3.88% vs 4.56%), and year-to-date performance (+0.84% vs +0.20%).
Is VLB better than ZLC?
There is no single "better" ETF — it depends on your investment goals. If you prioritise recent performance, VLB has outperformed year-to-date. Always review the fund's prospectus and consider your tax situation.
Can I buy VLB and ZLC on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both VLB and ZLC should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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