A side-by-side comparison of BMO Premium Yield ETF (ZPAY) and Vanguard Global ex-U.S. Real Estate Index Fund ETF Shares (VNQI) to help Canadian investors make an informed decision.
1-Year Performance
Normalised to 100 at the start — shows relative return over the trailing 12 months.
Head-to-Head Comparison
| Metric | ZPAY | VNQI |
|---|---|---|
| YTD Return | +7.01%✓ | -4.97% |
| 1-Day Change | -0.17% | +0.73%✓ |
| 1-Week Change | -0.63% | -0.12%✓ |
| 1-Month Change | +0.44%✓ | +0.33% |
| Current Price | $34.49 | $42.66 |
| AUM | $467M | $3.27B✓ |
| MER (Expense Ratio) | 0.61% | 0.12%✓ |
| Dividend Yield | 6.78%✓ | 5.30% |
| Distribution Frequency | — | NA |
| Inception Date | 2020-01-15 | 2010-11-01 |
| Holdings Count | 10 | 657 |
| MorningStar Rating | — | — |
| Category | Global Real Estate | Global Real Estate |
| Beta | 0.14 | 0.94 |
| 52-Week High | $35.03 | $50.88 |
| 52-Week Low | $29.30 | $41.53 |
| 50-Day MA | $34.11 | $43.51 |
| 200-Day MA | $32.87 | $45.80 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | ZPAY | VNQI |
|---|---|---|
| YTD | +7.01%✓ | -4.97% |
| 1 Year | +11.29%✓ | -7.43% |
| 3 Year | +13.20%✓ | +10.43% |
| 5 Year | +10.11%✓ | -2.01% |
| 10 Year | — | +1.90% |
| 1Y Volatility | 6.05% | 18.24% |
| Sharpe Ratio (3Y) | 1.39 | 0.27 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | MSFT | Microsoft Corporation | 5.15% |
| 2 | AAPL | Apple Inc. | 3.65% |
| 3 | LLY | Eli Lilly and Company | 2.82% |
| 4 | COST | Costco Wholesale Corp | 2.72% |
| 5 | GOOGL | Alphabet Inc Class A | 2.81% |
| 6 | V | Visa Inc. Class A | 2.74% |
| 7 | META | Meta Platforms Inc. | 2.49% |
| 8 | WMT | Walmart Inc. | 1.95% |
| 9 | LMT | Lockheed Martin Corporation | 1.84% |
| 10 | TJX | The TJX Companies Inc | 1.93% |
| 1 | GMG | Goodman Group | 3.94% |
| 2 | 8802 | Mitsubishi Estate Co Ltd | 2.73% |
| 3 | 8801 | Mitsui Fudosan Co. Ltd. | 2.63% |
| 4 | 0016 | Sun Hung Kai Properties Ltd | 1.99% |
| 5 | 8830 | Sumitomo Realty & Development Co. | 1.88% |
| 6 | 1925 | Daiwa House Industry Co. Ltd. | 1.67% |
| 7 | SGRO | Segro Plc | 1.45% |
| 8 | VNA | Vonovia SE | 1.34% |
| 9 | SCG | Scentre Group | 1.24% |
| 10 | 0823 | Link Real Estate Investment Trust | 1.22% |
Sector Weights
| Sector | ZPAY | VNQI |
|---|---|---|
| Basic Materials | 3.35% | 0.00% |
| Communication Services | 11.18% | 0.00% |
| Consumer Cyclicals | 4.04% | 0.63% |
| Consumer Defensive | 15.70% | 0.00% |
| Energy | 0.00% | 0.00% |
| Financial Services | 9.89% | 0.38% |
| Healthcare | 13.56% | 0.00% |
| Industrials | 7.91% | 0.66% |
| Real Estate | 0.00% | 100.23% |
| Technology | 34.09% | 0.00% |
| Utilities | 0.00% | 0.00% |
About ZPAY
BMO Premium Yield ETF seeks to provide exposure to the performance of a portfolio of U.S. large capitalization companies, primarily by investing in U.S. equity securities and derivative instruments to provide long term capital appreciation, generate income and mitigate downside risk. The Hedged Units of BMO Premium Yield ETF will also invest in or use derivative instruments to seek to hedge U.S. currency exposure.
About VNQI
The fund employs an indexing investment approach designed to track the performance of the index, a float-adjusted, market-capitalization-weighted index that measures the equity market performance of international real estate stocks in both developed and emerging markets. The index is composed of stocks of publicly traded equity real estate investment trusts (known as REITs) and certain real estate management and development companies (REMDs).
Which ETF is Right for You?
Both ZPAY and VNQI 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, ZPAY 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 ZPAY and VNQI?
ZPAY (BMO Premium Yield ETF) and VNQI (Vanguard Global ex-U.S. Real Estate Index Fund ETF Shares) are both Canadian-listed ETFs. Key differences include their AUM ($467M vs $3.27B), dividend yield (6.78% vs 5.30%), and year-to-date performance (+7.01% vs -4.97%).
Is ZPAY better than VNQI?
There is no single "better" ETF — it depends on your investment goals. If you prioritise recent performance, ZPAY has outperformed year-to-date. Always review the fund's prospectus and consider your tax situation.
Can I buy ZPAY and VNQI on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both ZPAY and VNQI should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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