A side-by-side comparison of BMO Growth ETF (ZGRO) and Vanguard Growth Portfolio (VGRO) to help Canadian investors make an informed decision.
CIBC Investor's Edge
Transfer your investments to CIBC Investor's Edge and get rewarded with an offer of up to $3,000.
- ✓$6.95 flat-rate commissions
- ✓Backed by Big Five bank security
- ✓Transfer bonus offer up to $3,000
1-Year Performance
Normalised to 100 at the start — shows relative return over the trailing 12 months.
Head-to-Head Comparison
| Metric | ZGRO | VGRO |
|---|---|---|
| YTD Return | +9.84% | +9.92%✓ |
| 1-Day Change | +0.49% | +0.62%✓ |
| 1-Week Change | +1.20%✓ | +1.20% |
| 1-Month Change | +5.23%✓ | +5.12% |
| Current Price | $19.32 | $47.42 |
| AUM | $740M | $10.14B✓ |
| MER (Expense Ratio) | 0% | 0% |
| Dividend Yield | 1.56% | 1.79%✓ |
| Distribution Frequency | Quarterly | Quarterly |
| Inception Date | 2019-02-12 | 2018-01-25 |
| Holdings Count | 8 | 7 |
| MorningStar Rating | ★★★★ | ★★★★ |
| Category | Global Equity Balanced | Global Equity Balanced |
| Beta | 1.08 | 1.08 |
| 52-Week High | $19.32 | $47.42 |
| 52-Week Low | $15.24 | $37.66 |
| 50-Day MA | $18.28 | $44.87 |
| 200-Day MA | $17.75 | $43.54 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | ZGRO | VGRO |
|---|---|---|
| YTD | +9.84% | +9.92%✓ |
| 1 Year | +25.75% | +25.93%✓ |
| 3 Year | +18.87% | +18.95%✓ |
| 5 Year | +11.60%✓ | +11.32% |
| 10 Year | — | — |
| 1Y Volatility | 8.58% | 8.27% |
| Sharpe Ratio (3Y) | — | — |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | ZSP | BMO S&P 500 | 36.69% |
| 2 | ZCN | BMO S&P/TSX Capped Composite | 19.48% |
| 3 | ZDB | BMO Discount Bond | 13.68% |
| 4 | ZEA | BMO MSCI EAFE | 13.65% |
| 5 | ZEM | BMO MSCI Emerging Markets Index ETF | 7.57% |
| 6 | ZUAG-F | BMO US Aggregate Bond ETF Hedged Units | 5.87% |
| 7 | ZMID | BMO S&P US Mid Cap Index ETF | 2.08% |
| 8 | ZSML | BMO S&P US Small Cap Index ETF | 0.98% |
| 1 | VUN | Vanguard US Total Market | 36.38% |
| 2 | VCN | Vanguard FTSE Canada All Cap | 24.75% |
| 3 | VIU | Vanguard FTSE Developed All Cap ex North Amer Idx ETF | 14.84% |
| 4 | VAB | Vanguard Canadian Aggregate Bond | 10.98% |
| 5 | VEE | Vanguard FTSE Emerging Markets All Cap Index ETF | 5.74% |
| 6 | VBG | Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) (VBG.NE) | 3.73% |
| 7 | VBU | Vanguard U.S. Aggregate Bond Index ETF | 3.58% |
Sector Weights
| Sector | ZGRO | VGRO |
|---|---|---|
| Basic Materials | 7.48% | 8.57% |
| Communication Services | 6.80% | 6.02% |
| Consumer Cyclicals | 8.26% | 7.83% |
| Consumer Defensive | 4.74% | 4.56% |
| Energy | 7.47% | 8.68% |
| Financial Services | 19.85% | 20.63% |
| Healthcare | 6.87% | 6.66% |
| Industrials | 11.26% | 11.64% |
| Real Estate | 1.97% | 2.25% |
| Technology | 22.35% | 20.32% |
| Utilities | 2.95% | 2.84% |
About ZGRO
The BMO Growth ETF is designed to provide long-term capital appreciation by investing in global equity and fixed income ETFs. The ETF will rebalance quarterly to strategic index asset allocation weights. The ETF will invest in broad indexed equity and fixed income ETFs. ZGRO is a fund of fund; the management fees charged are reduced by those accrued in the underlying funds.
About VGRO
Seeks to achieve its investment objective by primarily investing in equity and fixed income securities. It may do so either directly or indirectly through investment in one or more exchange traded funds managed by the manager or an affiliate or certain other investment funds.
Which ETF is Right for You?
Both ZGRO and VGRO 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, VGRO 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 ZGRO and VGRO?
ZGRO (BMO Growth ETF) and VGRO (Vanguard Growth Portfolio) are both Canadian-listed ETFs. Key differences include their AUM ($740M vs $10.14B), dividend yield (1.56% vs 1.79%), and year-to-date performance (+9.84% vs +9.92%).
Is ZGRO better than VGRO?
There is no single "better" ETF — it depends on your investment goals. If you prioritise dividends, compare both yields and choose based on your income needs. Always review the fund's prospectus and consider your tax situation.
Can I buy ZGRO and VGRO on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both ZGRO and VGRO should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
7 stocks to buy and hold forever
Complement your ETF portfolio with these proven long-term individual stocks.
Get the FREE Report