VS
iShares Convertible Bond Index ETF (CVD) and Global X 0-3 Month T-Bill ETF (CBIL) offer distinct profiles for Canadian ETF investors. A direct comparison shows that CVD focuses its top 3 sector exposures on Finance, Industrials, and Energy, while CBIL leans towards Sovereign. When evaluating costs, CVD features a management fee (MER) of 0.45%, compared to 0.1% for CBIL. Performance-wise, CVD has returned 3.28% year-to-date with +$14 M in net flows, whereas CBIL is at 1.45% with +$1 B. 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
CVD
CBIL
| AuM | $124.82 M | $2,733.80 M |
| Management Fees | 0.45% | 0.10% |
| Exp. ratio | 0.50% | 0.11% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 2, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | CVD | -0.70% | +0.55% | +3.28% | +5.31% | +27.38% |
CBIL | +0.17% | +0.55% | +1.45% | +2.24% | +7.34% | |
| Flows | CVD | -$0 M | -$1 M | +$14 M | +$24 M | +$19 M |
CBIL | +$228 M | +$508 M | +$1,144 M | +$1,096 M | +$2,267 M |
CVD vs CBIL exposure
Countries
CVD
Canada
100.01%
CBIL
Canada
99.99%
Sectors
CVD
Finance
39.68%
Industrials
25.01%
Energy
12.19%
Consumer Cyclicals
9.97%
Consumer Non-Cyclicals
7.82%
CBIL
Sovereign
99.99%
As of September 2, 2026
Top 10 Holdings
CVD
NFI Group, 5% 15jan2027, CAD (Conv.)
9.69%
Morguard REIT, 5.25% 31dec2026, CAD (Conv.)
6.67%
Advantage Energy, 5% 30jun2029, CAD (Conv.)
6.42%
Storagevault Canada, 5% 31mar2028, CAD (Conv.)
6.30%
Vital Infrastructure Property Trust, 6.25% 31aug2027, CAD (Conv.)
6.25%
Tidewater Midstream, 8% 30jun2029, CAD (Conv.)
5.77%
Rogers Sugar, 6% 30jun2030, CAD (Conv.)
5.23%
Alaris Equity Partners Income, 6.25% 31dec2030, CAD (Conv.)
5.09%
Ag Growth International, 5% 30jun2027, CAD (Conv.)
4.73%
Ag Growth International, 5.2% 31dec2027, CAD (Conv.)
4.28%
CBIL
Canada, Bills 0% 9nov2023, CAD (364D)
99.99%
Diversification
CVD
Total weight of top 10 holdings out of 24 total
60.43%
CBIL
Total weight of top 10 holdings out of 1 total
99.99%
Characteristics
Compare
CVD
CBIL
| Provider | iShares | Global X |
| Management | Passively managed | Actively managed |
| Benchmark | FTSE Canada Convertible Bond TR Index - CAD | - |
| Replication Method | Direct (Physical) | |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 5.01% | 2.23% |
| Meets ESG criteria | No | No |
| Inception Date | June 14, 2011 | April 12, 2023 |
Frequently asked questions about CVD and CBIL
Which ETF has performed better year to date: CVD or CBIL?
As of September 2, 2026, CVD has returned 3.28% year to date, while CBIL has returned 1.45%. CVD is ahead on YTD performance.
Which ETF is larger by assets under management: CVD or CBIL?
As of September 2, 2026, CVD manages $124.82 M in assets, while CBIL manages $2.73 B. CBIL is the larger fund by AUM.
How are CVD and CBIL managed?
CVD is passively managed by iShares. It tracks the FTSE Canada Convertible Bond TR Index - CAD benchmark. CBIL is actively managed by Global X. It does not track an index.
What sectors do CVD and CBIL emphasize?
CVD is most exposed to Finance, Industrials, and Energy. CBIL is most exposed to Sovereign.
Which ETF is attracting more investor flows: CVD or CBIL?
Year to date, CVD has seen +$14.27 M in net flows, compared with +$1,143.81 M for CBIL. CBIL has attracted more net investor money so far.
How do the fees of CVD and CBIL compare?
CVD has an expense ratio of 0.50%, while CBIL has an expense ratio of 0.11%.
What are the top holdings of CVD and CBIL?
CVD's largest holdings include NFI Group, 5% 15jan2027, CAD (Conv.), Morguard REIT, 5.25% 31dec2026, CAD (Conv.), and Advantage Energy, 5% 30jun2029, CAD (Conv.). CBIL's top holdings include Canada, Bills 0% 9nov2023, CAD (364D).
Which ETF is more diversified: CVD or CBIL?
CVD holds 24 securities, while CBIL holds 1. On holdings count, CVD is the more diversified portfolio.
Recent articles about CVD and CBIL
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