I have had no consistency between the .204" 32gr Vmax and Zmax. The Vmax will shoot 1/2-3/4 MOA where the Zmax will sometimes shoot 3/4 MOA but will shoot as large as 1-1/2 MOA.
Maybe I received a bad batch, but I thought they were the same so I bought 500 of them. I shot 1/2 of them and sold the rest. I think they are seconds, personally.