VS
CIBC Global Bond ex-Canada Index ETF (CGBI) and BMO Equal Weight Banks Index ETF (ZEB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that CGBI focuses its top 3 sector exposures on Sovereign, Banks, and Other sectors, while ZEB leans towards Finance. When evaluating costs, CGBI features a management fee (MER) of 0.19%, compared to 0.25% for ZEB. Performance-wise, CGBI has returned 0.67% year-to-date with +$139 M in net flows, whereas ZEB is at 32.7% with -$13 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
CGBI
ZEB
| AuM | $757.25 M | $7,031.18 M |
| Management Fees | 0.19% | 0.25% |
| Exp. ratio | 0.23% | 0.28% |
| Tracking Difference | 0.16% | -0.65% |
Historical performance and flows
As of July 30, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | CGBI | -1.15% | -0.25% | -0.67% | +0.77% | +7.34% |
ZEB | +0.43% | +16.10% | +32.70% | +67.40% | +146.66% | |
| Flows | CGBI | +$15 M | +$67 M | +$139 M | +$231 M | +$456 M |
ZEB | +$550 M | +$1,053 M | -$13 M | +$264 M | -$820 M |
CGBI vs ZEB exposure
Countries
CGBI
USA
28.70%
Other
21.31%
China
9.68%
Japan
7.45%
Other
32.86%
ZEB
Canada
100.00%
Sectors
CGBI
Sovereign
49.19%
Other
21.31%
Banks
8.01%
Other
21.49%
ZEB
Finance
100.00%
As of July 30, 2026
Top 10 Holdings
CGBI
USA, Notes 0.875% 15nov2030, USD (F-2030)
2.96%
US91282CNC19
2.87%
USA, Notes 4.25% 28feb2029, USD (V-2029)
2.66%
USA, Notes 2.875% 15may2028, USD (C-2028)
2.02%
US912810UM89
1.88%
Japan, JGB 0.1% 20dec2028, JPY
1.64%
China, Bonds 2.8% 24mar2029, CNY
1.61%
USA, Notes 2.75% 15aug2032, USD (E-2032)
1.59%
China Development Bank, 3.09% 9aug2028, CNY
1.52%
Japan, JGB 0.4% 20sep2040, JPY
1.49%
ZEB
The Toronto-Dominion Bank
17.42%
Royal Bank of Canada
17.32%
Bank of Montreal
17.15%
The Bank of Nova Scotia
16.61%
Canadian Imperial Bank of Commerce
15.79%
National Bank of Canada
15.70%
Diversification
CGBI
Total weight of top 10 holdings out of 337 total
20.23%
ZEB
Total weight of top 10 holdings out of 6 total
100.00%
Characteristics
Compare
CGBI
ZEB
| Provider | CIBC | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | Morningstar Global ex-Canada Core Bond Hedged CAD Index - CAD | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.81% | 2.29% |
| Meets ESG criteria | No | No |
| Inception Date | September 16, 2021 | October 20, 2009 |
Frequently asked questions about CGBI and ZEB
Which ETF has performed better year to date: CGBI or ZEB?
As of July 30, 2026, CGBI has returned -0.67% year to date, while ZEB has returned 32.70%. ZEB is ahead on YTD performance.
Which ETF is larger by assets under management: CGBI or ZEB?
As of July 30, 2026, CGBI manages $757.25 M in assets, while ZEB manages $7.03 B. ZEB is the larger fund by AUM.
How are CGBI and ZEB managed?
CGBI is passively managed by CIBC. It tracks the Morningstar Global ex-Canada Core Bond Hedged CAD Index - CAD benchmark. ZEB is passively managed by BMO. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do CGBI and ZEB emphasize?
CGBI is most exposed to Sovereign, Banks, and Other sectors. ZEB is most exposed to Finance.
Which ETF is attracting more investor flows: CGBI or ZEB?
Year to date, CGBI has seen +$139.33 M in net flows, compared with -$12.93 M for ZEB. CGBI has attracted more net investor money so far.
How do the fees of CGBI and ZEB compare?
CGBI has an expense ratio of 0.23%, while ZEB has an expense ratio of 0.28%.
What are the top holdings of CGBI and ZEB?
CGBI's largest holdings include USA, Notes 0.875% 15nov2030, USD (F-2030) and USA, Notes 4.25% 28feb2029, USD (V-2029). ZEB's top holdings include The Toronto-Dominion Bank, Royal Bank of Canada, and Bank of Montreal.
Which ETF is more diversified: CGBI or ZEB?
CGBI holds 299 securities, while ZEB holds 6. On holdings count, CGBI is the more diversified portfolio.
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