VS
CI Canadian Short-Term Aggregate Bond Index ETF (CAGS) and BMO Short Corporate Bond Index ETF (ZCS) offer distinct profiles for Canadian ETF investors. A direct comparison shows that CAGS focuses its top 3 sector exposures on Sovereign, Finance, and Municipal, while ZCS leans towards Finance, Energy, and Utilities. When evaluating costs, CAGS features a management fee (MER) of 0.18%, compared to 0.1% for ZCS. Performance-wise, CAGS has returned 0.38% year-to-date with +$33 M in net flows, whereas ZCS is at 0.85% with +$370 M. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.
NAV Performance and Flows
Key Data
Compare
CAGS
ZCS
| AuM | $49.26 M | $4,616.08 M |
| Management Fees | 0.18% | 0.10% |
| Exp. ratio | 0.08% | 0.11% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 10, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | CAGS | -0.53% | -0.51% | +0.38% | +0.93% | +14.29% |
ZCS | -0.42% | -0.33% | +0.85% | +1.76% | +18.13% | |
| Flows | CAGS | +$0 M | +$5 M | +$33 M | +$26 M | +$0 M |
ZCS | -$60 M | +$302 M | +$370 M | +$298 M | +$3,231 M |
CAGS vs ZCS exposure
Countries
CAGS
Canada
100.00%
ZCS
Canada
97.13%
Sectors
CAGS
Sovereign
38.48%
Finance
21.08%
Municipal
16.30%
Government Agencies
13.58%
Other
10.57%
ZCS
Finance
65.66%
Energy
13.19%
Other
21.15%
As of September 10, 2026
Top 10 Holdings
CAGS
Canada, Bonds 4% 1mar2029, CAD
7.46%
Canada, Bonds 3.25% 1sep2028, CAD
6.28%
Canada, Bonds 3.5% 1sep2029, CAD
5.27%
Canada, Bonds 3.5% 1mar2028, CAD
5.25%
Canada, Bonds 2.75% 1mar2030, CAD
5.14%
Canada, Bonds 2.75% 1sep2027, CAD
4.16%
Canada Housing Trust, 3.95% 15jun2028, CAD (115)
3.18%
Province of Ontario, 2.9% 2jun2028, CAD (DMTN238)
3.12%
Canada Housing Trust, 2.9% 15dec2029, CAD (123)
3.10%
CMHC, 2.65% 15dec2028, CAD (85)
3.10%
ZCS
Bank of Montreal, 3.19% 1mar2028, CAD
6.51%
Toronto-Dominion Bank, 4.477% 18jan2028, CAD
5.14%
Royal Bank of Canada, 3.985% 22jul2031, CAD
5.09%
CIBC, 3.8% 10dec2030, CAD
4.34%
Royal Bank of Canada, 4.14% 5may2036, CAD (31)
4.32%
Toronto-Dominion Bank, 3.605% 10sep2031, CAD
4.29%
TransCanada PipeLines, 5.277% 15jul2030, CAD
3.79%
Royal Bank of Canada, 4.829% 8aug2034, CAD (28)
3.71%
Royal Bank of Canada, 4.632% 1may2028, CAD
3.69%
RBC Capital Markets, 4% 17oct2030, CAD
3.64%
Diversification
CAGS
Total weight of top 10 holdings out of 54 total
46.05%
ZCS
Total weight of top 10 holdings out of 46 total
44.53%
Characteristics
Compare
CAGS
ZCS
| Provider | CI | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Short Term Overall Bond TR Index - CAD | FTSE TMX Canada Short Term Corporate Bond Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.33% | 4.04% |
| Meets ESG criteria | No | No |
| Inception Date | June 22, 2017 | October 20, 2009 |
Frequently asked questions about CAGS and ZCS
Which ETF has performed better year to date: CAGS or ZCS?
As of September 10, 2026, CAGS has returned 0.38% year to date, while ZCS has returned 0.85%. ZCS is ahead on YTD performance.
Which ETF is larger by assets under management: CAGS or ZCS?
As of September 10, 2026, CAGS manages $49.26 M in assets, while ZCS manages $4.62 B. ZCS is the larger fund by AUM.
How are CAGS and ZCS managed?
CAGS is passively managed by CI. It tracks the FTSE Canada Short Term Overall Bond TR Index - CAD benchmark. ZCS is passively managed by BMO. It tracks the FTSE TMX Canada Short Term Corporate Bond Index - CAD benchmark.
What sectors do CAGS and ZCS emphasize?
CAGS is most exposed to Sovereign, Finance, and Municipal. ZCS is most exposed to Finance, Energy, and Utilities.
Which ETF is attracting more investor flows: CAGS or ZCS?
Year to date, CAGS has seen +$33.27 M in net flows, compared with +$370.48 M for ZCS. ZCS has attracted more net investor money so far.
How do the fees of CAGS and ZCS compare?
CAGS has an expense ratio of 0.08%, while ZCS has an expense ratio of 0.11%.
What are the top holdings of CAGS and ZCS?
CAGS's largest holdings include Canada, Bonds 4% 1mar2029, CAD, Canada, Bonds 3.25% 1sep2028, CAD, and Canada, Bonds 3.5% 1sep2029, CAD. ZCS's top holdings include Bank of Montreal, 3.19% 1mar2028, CAD, Toronto-Dominion Bank, 4.477% 18jan2028, CAD, and Royal Bank of Canada, 3.985% 22jul2031, CAD.
Which ETF is more diversified: CAGS or ZCS?
CAGS holds 54 securities, while ZCS holds 46. On holdings count, CAGS is the more diversified portfolio.
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All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.