ZUAG.TO vs. VONV

Last updated Jun 5, 2026

ZUAG.TO (BMO US Aggregate Bond Index ETF) and VONV (Vanguard Russell 1000 Value ETF) are both exchange-traded funds - ZUAG.TO is a Global Bonds fund tracking the Bloomberg US Aggregate Bond Index, while VONV is a Large Cap Value Equities fund tracking the Russell 1000 Value Index. Both are passively managed. Over the past 3 years, ZUAG.TO returned 4.00%/yr vs 20.32%/yr for VONV. At a 0.05 correlation, their price movements are largely independent. ZUAG.TO charges 0.09%/yr vs 0.06%/yr for VONV.

Performance

ZUAG.TO vs. VONV - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO US Aggregate Bond Index ETF (ZUAG.TO) and Vanguard Russell 1000 Value ETF (VONV). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ZUAG.TO is traded in CAD, while VONV is traded in USD. To make them comparable, the VONV values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ZUAG.TO achieves a 1.81% return, which is significantly lower than VONV's 16.62% return.

ZUAG.TO

• 1D: 0.47%
• 1M: 2.62%
• YTD: 1.81%
• 6M: -2.81%
• 1Y: 3.62%
• 3Y*: 4.00%
• 5Y*: —
• 10Y*: —

VONV

• 1D: 0.76%
• 1M: 6.03%
• YTD: 16.62%
• 6M: 15.24%
• 1Y: 31.91%
• 3Y*: 20.32%
• 5Y*: 13.62%
• 10Y*: 12.26%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ZUAG.TO vs. VONV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ZUAG.TO BMO US Aggregate Bond Index ETF	1.81%	-0.80%	9.45%	365.73%
VONV Vanguard Russell 1000 Value ETF	16.62%	10.50%	24.09%	6.33%

Correlation

The correlation between ZUAG.TO and VONV is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (All Time) Calculated using the full available price history since Jan 31, 2023	0.05

Return for Risk

ZUAG.TO vs. VONV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ZUAG.TO

ZUAG.TO Risk / Return Rank: 16
ZUAG.TO Sharpe Ratio Rank: 17
ZUAG.TO Sortino Ratio Rank: 15
ZUAG.TO Omega Ratio Rank: 18
ZUAG.TO Calmar Ratio Rank: 16
ZUAG.TO Martin Ratio Rank: 13

VONV

VONV Risk / Return Rank: 85
VONV Sharpe Ratio Rank: 85
VONV Sortino Ratio Rank: 87
VONV Omega Ratio Rank: 83
VONV Calmar Ratio Rank: 83
VONV Martin Ratio Rank: 87

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ZUAG.TO vs. VONV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO US Aggregate Bond Index ETF (ZUAG.TO) and Vanguard Russell 1000 Value ETF (VONV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ZUAG.TO	VONV	Difference
Sharpe ratio: Return per unit of total volatility	0.50	2.98	-2.49
Sortino ratio: Return per unit of downside risk	0.70	4.11	-3.41
Omega ratio: Gain probability vs. loss probability	1.11	1.55	-0.44
Calmar ratio: Return relative to maximum drawdown	0.52	5.72	-5.20
Martin ratio: Return relative to average drawdown	0.92	22.06	-21.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZUAG.TO vs. VONV - Sharpe Ratio Comparison

The current ZUAG.TO Sharpe Ratio is 0.50, which is lower than the VONV Sharpe Ratio of 2.98. The chart below compares the historical Sharpe Ratios of ZUAG.TO and VONV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ZUAG.TO	VONV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.50	2.98	-2.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.08	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.97	-0.65

Drawdowns

ZUAG.TO vs. VONV - Drawdown Comparison

The maximum ZUAG.TO drawdown since its inception was -7.19%, smaller than the maximum VONV drawdown of -32.45%. Use the drawdown chart below to compare losses from any high point for ZUAG.TO and VONV.

Drawdown Indicators

	ZUAG.TO	VONV	Difference
Max Drawdown Largest peak-to-trough decline	-7.19%	-32.45%	+25.26%
Max Drawdown (1Y) Largest decline over 1 year	-6.92%	-5.60%	-1.32%
Max Drawdown (3Y) Largest decline over 3 years	-7.12%	-15.38%	+8.26%
Max Drawdown (5Y) Largest decline over 5 years	—	-15.38%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-32.45%	—
Current Drawdown Current decline from peak	-4.46%	0.00%	-4.46%
Average Drawdown Average peak-to-trough decline	-2.95%	-3.10%	+0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.95%	1.45%	+2.50%

Volatility

ZUAG.TO vs. VONV - Volatility Comparison

The current volatility for BMO US Aggregate Bond Index ETF (ZUAG.TO) is 1.59%, while Vanguard Russell 1000 Value ETF (VONV) has a volatility of 2.75%. This indicates that ZUAG.TO experiences smaller price fluctuations and is considered to be less risky than VONV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZUAG.TO	VONV	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.59%	2.75%	-1.16%
Volatility (6M) Calculated over the trailing 6-month period	5.20%	8.22%	-3.02%
Volatility (1Y) Calculated over the trailing 1-year period	7.32%	10.78%	-3.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	196.30%	12.68%	+183.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	196.30%	15.32%	+180.98%

ZUAG.TO vs. VONV - Expense Ratio Comparison

ZUAG.TO has a 0.09% expense ratio, which is higher than VONV's 0.06% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ZUAG.TO vs. VONV - Dividend Comparison

ZUAG.TO's dividend yield for the trailing twelve months is around 2.66%, more than VONV's 1.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VONV Vanguard Russell 1000 Value ETF	1.62%	1.82%	1.97%	2.10%	2.22%	1.67%	2.25%	2.30%	2.56%	2.18%	2.39%	2.38%
ZUAG.TO BMO US Aggregate Bond Index ETF	2.66%	2.51%	2.09%	1.89%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ZUAG.TO and VONV in my portfolio?

ZUAG.TO and VONV have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZUAG.TO or VONV?

On fees, VONV is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZUAG.TO or VONV?

VONV is cheaper with a 0.06% expense ratio, compared with 0.09% for ZUAG.TO.

What is the main difference between ZUAG.TO and VONV?

ZUAG.TO is categorized as Global Bonds, while VONV is Large Cap Value Equities. ZUAG.TO tracks Bloomberg US Aggregate Bond Index, while VONV tracks Russell 1000 Value Index. They also come from different issuers: BMO and Vanguard. Their fees differ too: 0.09% for ZUAG.TO and 0.06% for VONV.