VS
CIBC Global Bond ex-Canada Index ETF (CGBI) and BMO Equal Weight Utilities Index ETF (ZUT) 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 ZUT leans towards Utilities, Energy, and Industrials. When evaluating costs, CGBI features a management fee (MER) of 0.19%, compared to 0.55% for ZUT. Performance-wise, CGBI has returned 0.67% year-to-date with +$139 M in net flows, whereas ZUT is at 21.42% with -$120 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
ZUT
| AuM | $757.25 M | $852.96 M |
| Management Fees | 0.19% | 0.55% |
| Exp. ratio | 0.23% | 0.61% |
| Tracking Difference | 0.05% | -1.96% |
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% |
ZUT | +0.97% | +5.29% | +21.42% | +25.86% | +53.82% | |
| Flows | CGBI | +$15 M | +$67 M | +$139 M | +$231 M | +$456 M |
ZUT | +$17 M | -$61 M | -$120 M | -$40 M | +$193 M |
CGBI vs ZUT exposure
Countries
CGBI
USA
28.70%
Other
21.31%
China
9.68%
Japan
7.45%
Other
32.86%
ZUT
Canada
84.68%
Bermuda
15.32%
Sectors
CGBI
Sovereign
49.19%
Other
21.31%
Banks
8.01%
Other
21.49%
ZUT
Utilities
85.04%
Energy
7.95%
Industrials
7.01%
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%
ZUT
Boralex, Inc.
9.46%
Capital Power Corp.
8.42%
Brookfield Renewable Partners LP
8.31%
AltaGas Ltd.
7.95%
ATCO Ltd.
7.77%
TransAlta Corp.
7.74%
Canadian Utilities Ltd.
7.65%
Emera, Inc.
7.38%
Fortis, Inc.
7.23%
Northland Power, Inc.
7.14%
Diversification
CGBI
Total weight of top 10 holdings out of 337 total
20.23%
ZUT
Total weight of top 10 holdings out of 13 total
79.05%
Characteristics
Compare
CGBI
ZUT
| Provider | CIBC | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | Morningstar Global ex-Canada Core Bond Hedged CAD Index - CAD | Solactive Equal Weight Canada Utilities Total Return Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.81% | 2.73% |
| Meets ESG criteria | No | No |
| Inception Date | September 16, 2021 | January 19, 2010 |
Frequently asked questions about CGBI and ZUT
Which ETF has performed better year to date: CGBI or ZUT?
As of July 30, 2026, CGBI has returned -0.67% year to date, while ZUT has returned 21.42%. ZUT is ahead on YTD performance.
Which ETF is larger by assets under management: CGBI or ZUT?
As of July 30, 2026, CGBI manages $757.25 M in assets, while ZUT manages $852.96 M. ZUT is the larger fund by AUM.
How are CGBI and ZUT managed?
CGBI is passively managed by CIBC. It tracks the Morningstar Global ex-Canada Core Bond Hedged CAD Index - CAD benchmark. ZUT is passively managed by BMO. It tracks the Solactive Equal Weight Canada Utilities Total Return Index - CAD benchmark.
What sectors do CGBI and ZUT emphasize?
CGBI is most exposed to Sovereign, Banks, and Other sectors. ZUT is most exposed to Utilities, Energy, and Industrials.
Which ETF is attracting more investor flows: CGBI or ZUT?
Year to date, CGBI has seen +$139.33 M in net flows, compared with -$119.61 M for ZUT. CGBI has attracted more net investor money so far.
How do the fees of CGBI and ZUT compare?
CGBI has an expense ratio of 0.23%, while ZUT has an expense ratio of 0.61%.
What are the top holdings of CGBI and ZUT?
CGBI's largest holdings include USA, Notes 0.875% 15nov2030, USD (F-2030) and USA, Notes 4.25% 28feb2029, USD (V-2029). ZUT's top holdings include Boralex, Inc., Capital Power Corp., and Brookfield Renewable Partners LP.
Which ETF is more diversified: CGBI or ZUT?
CGBI holds 299 securities, while ZUT holds 13. On holdings count, CGBI is the more diversified portfolio.
Recent articles about CGBI and ZUT
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