VS
CIBC 2027 Investment Grade Bond Fund (CTBC) and BMO Ultra Short-Term Bond ETF (ZST.L) offer distinct profiles for Canadian ETF investors. A direct comparison shows that CTBC focuses its top 3 sector exposures on Finance, Utilities, and Consumer Non-Cyclicals, while ZST.L leans towards Finance, Energy, and Utilities. When evaluating costs, CTBC features a management fee (MER) of 0.15%, compared to 0.15% for ZST.L. Performance-wise, CTBC has returned 2.04% year-to-date with +$50 M in net flows, whereas ZST.L is at 2.18% with +$130 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
CTBC
ZST.L
| AuM | $101.41 M | $655.16 M |
| Management Fees | 0.15% | 0.15% |
| Exp. ratio | 0.23% | 0.17% |
| Tracking Difference | - | - |
Historical performance and flows
As of November 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | CTBC | +0.13% | +0.56% | +2.04% | +2.28% | - |
ZST.L | +0.16% | +0.62% | +2.18% | +2.54% | +11.87% | |
| Flows | CTBC | +$5 M | +$16 M | +$50 M | +$58 M | - |
ZST.L | -$24 M | +$9 M | +$130 M | +$138 M | +$390 M |
CTBC vs ZST.L exposure
Countries
CTBC
Canada
89.59%
Other
10.41%
ZST.L
Canada
90.42%
Other
9.58%
Sectors
CTBC
Finance
50.22%
Utilities
9.39%
Consumer Non-Cyclicals
7.76%
Other
32.64%
ZST.L
Finance
59.93%
Energy
11.30%
Utilities
8.66%
Other
20.11%
As of November 11, 2026
Top 10 Holdings
CTBC
Ontario Teachers Finance Trust, 1.1% 19oct2027, CAD
5.31%
Heathrow Funding, 2.694% 13oct2027, CAD (MPLE, ABS)
5.16%
John Deere Financial Inc., 1.34% 8sep2027, CAD
5.14%
Bank of Nova Scotia, 1.4% 1nov2027, CAD
5.11%
Dream Industrial REIT, 2.057% 17jun2027, CAD
4.97%
Stantec, 2.048% 8oct2027, CAD
4.97%
Allied Properties REIT, 3.113% 8apr2027, CAD
4.82%
Canadian Western Bank, 1.818% 16dec2027, CAD
4.71%
Bell Canada, 1.65% 16aug2027, CAD (M-53)
4.63%
Saputo, 2.242% 16jun2027, CAD (7)
4.48%
ZST.L
Bank of Nova Scotia, 1.85% 2nov2026, CAD
9.92%
North West Redwater Partnership, 2.8% 1jun2027, CAD (J)
7.73%
Alectra, 2.488% 17may2027, CAD (A)
7.52%
Royal Bank of Canada, 2.14% 3nov2031, CAD (24)
6.98%
Sun Life Financial, 2.58% 10may2032, CAD (2020-1)
5.73%
Canada, Bond 1 1jun2027 10Y
4.80%
Ventas, 2.45% 4jan2027, CAD (G)
4.36%
Sun Life Financial, 2.46% 18nov2031, CAD (2021-1)
4.16%
CIBC, 2.25% 7jan2027, CAD (7449)
3.98%
Toronto-Dominion Bank, 2.26% 7jan2027, CAD
3.88%
Diversification
CTBC
Total weight of top 10 holdings out of 32 total
49.30%
ZST.L
Total weight of top 10 holdings out of 41 total
59.08%
Characteristics
Frequently asked questions about CTBC and ZST.L
Which ETF has performed better year to date: CTBC or ZST.L?
As of November 11, 2026, CTBC has returned 2.04% year to date, while ZST.L has returned 2.18%. ZST.L is ahead on YTD performance.
Which ETF is larger by assets under management: CTBC or ZST.L?
As of November 11, 2026, CTBC manages $101.41 M in assets, while ZST.L manages $655.16 M. ZST.L is the larger fund by AUM.
How are CTBC and ZST.L managed?
CTBC is actively managed by CIBC. It does not track an index. ZST.L is actively managed by BMO. It does not track an index.
What sectors do CTBC and ZST.L emphasize?
CTBC is most exposed to Finance, Utilities, and Consumer Non-Cyclicals. ZST.L is most exposed to Finance, Energy, and Utilities.
Which ETF is attracting more investor flows: CTBC or ZST.L?
Year to date, CTBC has seen +$49.87 M in net flows, compared with +$129.54 M for ZST.L. ZST.L has attracted more net investor money so far.
How do the fees of CTBC and ZST.L compare?
CTBC has an expense ratio of 0.23%, while ZST.L has an expense ratio of 0.17%.
What are the top holdings of CTBC and ZST.L?
CTBC's largest holdings include Ontario Teachers Finance Trust, 1.1% 19oct2027, CAD, Heathrow Funding, 2.694% 13oct2027, CAD (MPLE, ABS), and John Deere Financial Inc., 1.34% 8sep2027, CAD. ZST.L's top holdings include Bank of Nova Scotia, 1.85% 2nov2026, CAD, North West Redwater Partnership, 2.8% 1jun2027, CAD (J), and Alectra, 2.488% 17may2027, CAD (A).
Which ETF is more diversified: CTBC or ZST.L?
CTBC holds 32 securities, while ZST.L holds 41. On holdings count, ZST.L is the more diversified portfolio.
Recent articles about CTBC and ZST.L
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