XEQT vs VEQT: Quick Comparison
| Feature | XEQT | VEQT |
|---|---|---|
| Provider | iShares (BlackRock) | Vanguard |
| MER | 0.20% | 0.24% |
| Holdings | 9,000+ stocks | 13,000+ stocks |
| Allocation | 100% equity | 100% equity |
| Dividend yield | ~2% | ~2% |
| AUM | $5B+ | $6B+ |
Bottom line: Both are excellent. The differences are trivial. Pick one and invest consistently.
Fund Details
XEQT - iShares Core Equity ETF Portfolio
| Metric | Value |
|---|---|
| Ticker | XEQT |
| Exchange | TSX |
| MER | 0.20% |
| Inception | 2019 |
| Holdings | 9,000+ stocks |
| Distributions | Quarterly |
Underlying ETFs:
- ITOT (US Total Market) - 46%
- XIC (Canada) - 25%
- IEFA (International Developed) - 24%
- IEMG (Emerging Markets) - 5%
VEQT - Vanguard All-Equity ETF Portfolio
| Metric | Value |
|---|---|
| Ticker | VEQT |
| Exchange | TSX |
| MER | 0.24% |
| Inception | 2019 |
| Holdings | 13,000+ stocks |
| Distributions | Quarterly |
Underlying ETFs:
- VUN (US Total Market) - 44%
- VCN (Canada) - 30%
- VIU (International Developed) - 20%
- VEE (Emerging Markets) - 6%
Geographic Allocation
| Region | XEQT | VEQT |
|---|---|---|
| United States | 46% | 44% |
| Canada | 25% | 30% |
| International Developed | 24% | 20% |
| Emerging Markets | 5% | 6% |
VEQT has a slight home-country bias with 30% Canadian allocation vs XEQT’s 25%. This can be good (familiar companies, no currency risk) or bad (Canada is only ~3% of global markets).
Cost Comparison
The MER difference is 0.04% (4 basis points).
| Portfolio Size | XEQT Annual Cost | VEQT Annual Cost | Difference |
|---|---|---|---|
| $10,000 | $20 | $24 | $4 |
| $50,000 | $100 | $120 | $20 |
| $100,000 | $200 | $240 | $40 |
| $500,000 | $1,000 | $1,200 | $200 |
| $1,000,000 | $2,000 | $2,400 | $400 |
The difference is minimal. On a $100,000 portfolio, you save $40/year with XEQT — less than the cost of a single trade on some platforms.
Historical Performance
Both funds launched in 2019, so track records are similar:
| Period | XEQT | VEQT |
|---|---|---|
| 2020 | +10.9% | +11.2% |
| 2021 | +21.3% | +21.0% |
| 2022 | -11.5% | -11.3% |
| 2023 | +18.9% | +18.2% |
| 2024 | +20.1% | +19.8% |
| 2025 | +12.5% | +12.2% |
Performance differences are slight and vary year to year. Neither consistently outperforms.
Which Should You Choose?
Choose XEQT if:
- You want the lowest possible cost
- You prefer iShares/BlackRock
- You want slightly more US/international exposure
- You already have other Vanguard holdings and want diversification
Choose VEQT if:
- You prefer Vanguard’s philosophy
- You want more Canadian exposure
- You already have XEQT and want to compare
- You like having more underlying holdings
It Really Doesn’t Matter
Both funds:
- Hold thousands of global stocks
- Rebalance automatically
- Have extremely low costs
- Will perform nearly identically over time
The best choice is the one you’ll stick with for decades.
Common Questions
Should I hold both XEQT and VEQT?
No. You’re creating unnecessary complexity. Both hold similar portfolios, so holding both doesn’t add diversification.
Should I switch from VEQT to XEQT?
No. The 0.04% difference doesn’t justify:
- Potential capital gains from selling
- Time spent making the switch
- Transaction costs (if applicable)
What about XGRO vs VGRO?
Same comparison, but with 20% bonds:
| Feature | XGRO | VGRO |
|---|---|---|
| MER | 0.20% | 0.24% |
| Equity | 80% | 80% |
| Bonds | 20% | 20% |
Choose XGRO/VGRO if you want some bonds for stability, or if your time horizon is 5-10 years instead of 10+.
What about building my own portfolio?
You could buy the underlying ETFs separately:
| ETF | MER | What It Holds |
|---|---|---|
| XIC | 0.06% | Canadian stocks |
| XUU | 0.07% | US stocks |
| XEF | 0.22% | International stocks |
Total: ~0.10% blended MER
But this requires:
- Manual rebalancing
- Multiple purchases
- More complexity
For most investors, the simplicity of XEQT or VEQT is worth the extra 0.10-0.14%.
Where to Buy
Both XEQT and VEQT trade on the TSX and are commission-free at most brokerages:
| Brokerage | Commission |
|---|---|
| Wealthsimple | $0 |
| Questrade | $0 (ETF buys) |
| TD Direct | $0 (selected ETFs) |
| BMO InvestorLine | $0 (BMO ETFs only) |
| RBC Direct | ~$10/trade |
See our Best Online Brokers comparison for more details.
The Real Question
The XEQT vs VEQT debate often distracts from what matters most:
- Are you investing regularly?
- Are you investing enough?
- Will you stay invested through market downturns?
If you spend an hour researching XEQT vs VEQT but then only invest $100/month, you’re optimizing the wrong thing.
The best ETF is the one you actually buy and hold.