VS
BMO ESG Corporate Bond Index ETF (ESGB) and iShares Canadian Government Bond Index ETF (XGB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ESGB focuses its top 3 sector exposures on Finance, Utilities, and Telecommunications, while XGB leans towards Sovereign, Municipal, and Government Agencies. When evaluating costs, ESGB features a management fee (MER) of 0.15%, compared to 0.12% for XGB. Performance-wise, ESGB has returned 1.12% year-to-date with +$12 M in net flows, whereas XGB is at 1.11% with -$216 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
ESGB
XGB
| AuM | $90.92 M | $1,615.34 M |
| Management Fees | 0.15% | 0.12% |
| Exp. ratio | 0.17% | 0.13% |
| Tracking Difference | -0.10% | - |
Historical performance and flows
As of November 3, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ESGB | +0.86% | -0.22% | +1.12% | +0.86% | +18.37% |
XGB | +2.10% | -0.04% | +1.11% | +0.08% | +12.78% | |
| Flows | ESGB | +$1 M | +$5 M | +$12 M | +$17 M | +$31 M |
XGB | +$23 M | -$45 M | -$216 M | -$135 M | +$679 M |
ESGB vs XGB exposure
Countries
ESGB
Canada
100.00%
XGB
Canada
98.12%
Sectors
ESGB
Finance
51.82%
Utilities
15.18%
Telecommunications
10.55%
Energy
9.00%
Other
13.45%
XGB
Sovereign
43.89%
Municipal
37.85%
Government Agencies
9.36%
Other
8.90%
As of November 3, 2026
Top 10 Holdings
ESGB
Toronto-Dominion Bank, 1.888% 8mar2028, CAD
3.62%
Bank of Montreal, 3.19% 1mar2028, CAD
2.95%
Rogers Communications, 6.75% 9nov2039, CAD
2.47%
Royal Bank of Canada, 4.632% 1may2028, CAD
2.25%
Bank of Nova Scotia, 3.836% 26sep2030, CAD
2.20%
Pembina Pipeline Corporation, 3.62% 3apr2029, CAD (12)
2.20%
Manulife Finance (Delaware), L.P, 5.059% 15dec2041, CAD
2.18%
Bank of Nova Scotia, 3.734% 27jun2031, CAD
2.18%
Toronto-Dominion Bank, 4.423% 31oct2035, CAD
2.17%
Royal Bank of Canada, 1.833% 31jul2028, CAD
2.16%
XGB
Canada, Bonds 2.75% 1sep2030, CAD
2.12%
Canada, Bonds 2.75% 1mar2031, CAD
2.02%
Canada, Bonds 3.25% 1jun2035, CAD
1.98%
Canada, Bonds 3.25% 1jun2036, CAD
1.96%
Canada, Bonds 3.25% 1dec2035, CAD
1.89%
Canada, Bonds 3% 1sep2031, CAD
1.88%
Canada, Bonds 3% 1jun2034, CAD
1.62%
Canada, Bonds 3.5% 1dec2057, CAD
1.48%
Canada, Bonds 3.5% 1sep2029, CAD
1.47%
Canada, Bond 1.5 1jun2031 10Y
1.45%
Diversification
ESGB
Total weight of top 10 holdings out of 83 total
24.38%
XGB
Total weight of top 10 holdings out of 552 total
17.88%
Characteristics
Compare
ESGB
XGB
| Provider | BMO | iShares |
| Management | Passively managed | Passively managed |
| Benchmark | Bloomberg MSCI Canadian Corporate Sustainability SRI Index CAD Index - CAD | FTSE Canada All Government Bond TR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 4.08% | 3.18% |
| Meets ESG criteria | Yes | No |
| Inception Date | January 27, 2020 | November 6, 2006 |
Frequently asked questions about ESGB and XGB
Which ETF has performed better year to date: ESGB or XGB?
As of November 3, 2026, ESGB has returned 1.12% year to date, while XGB has returned 1.11%. ESGB is ahead on YTD performance.
Which ETF is larger by assets under management: ESGB or XGB?
As of November 3, 2026, ESGB manages $90.92 M in assets, while XGB manages $1.62 B. XGB is the larger fund by AUM.
How are ESGB and XGB managed?
ESGB is passively managed by BMO. It tracks the Bloomberg MSCI Canadian Corporate Sustainability SRI Index CAD Index - CAD benchmark. XGB is passively managed by iShares. It tracks the FTSE Canada All Government Bond TR Index - CAD benchmark.
What sectors do ESGB and XGB emphasize?
ESGB is most exposed to Finance, Utilities, and Telecommunications. XGB is most exposed to Sovereign, Municipal, and Government Agencies.
Which ETF is attracting more investor flows: ESGB or XGB?
Year to date, ESGB has seen +$12.47 M in net flows, compared with -$216.20 M for XGB. ESGB has attracted more net investor money so far.
How do the fees of ESGB and XGB compare?
ESGB has an expense ratio of 0.17%, while XGB has an expense ratio of 0.13%.
What are the top holdings of ESGB and XGB?
ESGB's largest holdings include Toronto-Dominion Bank, 1.888% 8mar2028, CAD, Bank of Montreal, 3.19% 1mar2028, CAD, and Rogers Communications, 6.75% 9nov2039, CAD. XGB's top holdings include Canada, Bonds 2.75% 1sep2030, CAD, Canada, Bonds 2.75% 1mar2031, CAD, and Canada, Bonds 3.25% 1jun2035, CAD.
Which ETF is more diversified: ESGB or XGB?
ESGB holds 83 securities, while XGB holds 545. On holdings count, XGB is the more diversified portfolio.
Recent articles about ESGB and XGB
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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.