VS
BMO ESG Corporate Bond Index ETF (ESGB) and BMO Long Federal Bond Index ETF (ZFL) 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 ZFL leans towards Sovereign. When evaluating costs, ESGB features a management fee (MER) of 0.15%, compared to 0.2% for ZFL. Performance-wise, ESGB has returned 1.12% year-to-date with +$12 M in net flows, whereas ZFL is at 1.26% with +$171 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
ZFL
| AuM | $90.92 M | $1,383.01 M |
| Management Fees | 0.15% | 0.20% |
| Exp. ratio | 0.17% | 0.22% |
| 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% |
ZFL | +3.62% | -1.35% | -1.26% | -4.67% | +1.90% | |
| Flows | ESGB | +$1 M | +$5 M | +$12 M | +$17 M | +$31 M |
ZFL | -$5 M | +$110 M | +$171 M | -$576 M | -$1,332 M |
ESGB vs ZFL exposure
Countries
ESGB
Canada
100.00%
ZFL
Canada
100.00%
Sectors
ESGB
Finance
51.82%
Utilities
15.18%
Telecommunications
10.55%
Energy
9.00%
Other
13.45%
ZFL
Sovereign
100.00%
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%
ZFL
Canada, Bond 2 1jan2051 30Y
21.05%
Canada, Bonds 3.5% 1dec2057, CAD
15.58%
Canada, Bonds 2.75% 1dec2055, CAD
13.41%
Canada, Bond 3.5 1dec2045 30Y
13.10%
Canada, Bond 4 1jun2041 30Y
12.44%
Canada, Bond 2.75 1dec2048 30Y
11.33%
Canada, Bond 1.75 1dec2053 30Y
9.62%
Canada, Bonds 3.5% 1dec2036, CAD
3.45%
Diversification
ESGB
Total weight of top 10 holdings out of 83 total
24.38%
ZFL
Total weight of top 10 holdings out of 8 total
100.00%
Characteristics
Compare
ESGB
ZFL
| Provider | BMO | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | Bloomberg MSCI Canadian Corporate Sustainability SRI Index CAD Index - CAD | FTSE TMX Canada Long Term Federal 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% | 2.87% |
| Meets ESG criteria | Yes | No |
| Inception Date | January 27, 2020 | May 19, 2010 |
Frequently asked questions about ESGB and ZFL
Which ETF has performed better year to date: ESGB or ZFL?
As of November 3, 2026, ESGB has returned 1.12% year to date, while ZFL has returned -1.26%. ESGB is ahead on YTD performance.
Which ETF is larger by assets under management: ESGB or ZFL?
As of November 3, 2026, ESGB manages $90.92 M in assets, while ZFL manages $1.38 B. ZFL is the larger fund by AUM.
How are ESGB and ZFL managed?
ESGB is passively managed by BMO. It tracks the Bloomberg MSCI Canadian Corporate Sustainability SRI Index CAD Index - CAD benchmark. ZFL is passively managed by BMO. It tracks the FTSE TMX Canada Long Term Federal Bond TR Index - CAD benchmark.
What sectors do ESGB and ZFL emphasize?
ESGB is most exposed to Finance, Utilities, and Telecommunications. ZFL is most exposed to Sovereign.
Which ETF is attracting more investor flows: ESGB or ZFL?
Year to date, ESGB has seen +$12.47 M in net flows, compared with +$171.29 M for ZFL. ZFL has attracted more net investor money so far.
How do the fees of ESGB and ZFL compare?
ESGB has an expense ratio of 0.17%, while ZFL has an expense ratio of 0.22%.
What are the top holdings of ESGB and ZFL?
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. ZFL's top holdings include Canada, Bond 2 1jan2051 30Y, Canada, Bonds 3.5% 1dec2057, CAD, and Canada, Bonds 2.75% 1dec2055, CAD.
Which ETF is more diversified: ESGB or ZFL?
ESGB holds 83 securities, while ZFL holds 8. On holdings count, ESGB is the more diversified portfolio.
Recent articles about ESGB and ZFL
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