VS
When evaluating costs, HBND features a management fee (MER) of 0.45%, compared to 0.08% for ZAG. Performance-wise, HBND has returned 0.75% year-to-date with -$23 M in net flows, whereas ZAG is at 1.89% with +$679 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
HBND
ZAG
| AuM | $162.16 M | $12,936.84 M |
| Management Fees | 0.45% | 0.08% |
| Exp. ratio | 0.65% | 0.09% |
| Tracking Difference | - | - |
Historical performance and flows
As of June 16, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | HBND | +4.06% | +0.31% | +0.75% | +5.26% | - |
ZAG | +2.28% | +1.52% | +1.89% | +4.31% | +14.09% | |
| Flows | HBND | -$1 M | -$10 M | -$23 M | -$13 M | - |
ZAG | +$492 M | +$628 M | +$679 M | +$1,659 M | +$6,430 M |
HBND vs ZAG exposure
Countries
HBND
Exposure data will be available soon
ZAG
Canada
99.27%
Sectors
HBND
Exposure data will be available soon
ZAG
Municipal
28.61%
Sovereign
24.95%
Other
17.41%
Government agencies
9.35%
Other
19.68%
As of June 16, 2026
Top 10 Holdings
HBND
Exposure data will be available soon
ZAG
Canada, Bonds 3% 1jun2034, CAD
4.26%
Canada, Bond 2.25 1jun2029 10Y
3.59%
Province of Quebec, 2.75% 1sep2028, CAD (B124)
2.92%
Canada Housing Trust, 1.1% 15mar2031, CAD (95)
2.65%
Canada, Bond 2.75 1dec2048 30Y
2.43%
Province of Quebec, 3.5% 1dec2048, CAD (B117)
2.42%
Canada Housing Trust, 3.55% 15sep2032, CAD (107)
2.21%
Bank of Montreal, 3.19% 1mar2028, CAD
2.20%
Province of Ontario, 2.9% 2jun2028, CAD (DMTN238)
2.20%
CA135087T461
2.20%
Diversification
HBND
Exposure data will be available soon
ZAG
Total weight of top 10 holdings out of 88 total
27.07%
Characteristics
Compare
HBND
ZAG
| Provider | Hamilton ETFs | BMO |
| Management | Actively managed | Passively managed |
| Benchmark | - | FTSE Canada Universe Bond TR Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 11.22% | 3.41% |
| Meets ESG criteria | No | No |
| Inception Date | September 14, 2023 | January 19, 2010 |
Frequently asked questions about HBND and ZAG
Which ETF has performed better year to date: HBND or ZAG?
As of June 16, 2026, HBND has returned 0.75% year to date, while ZAG has returned 1.89%. ZAG is ahead on YTD performance.
Which ETF is larger by assets under management: HBND or ZAG?
As of June 16, 2026, HBND manages $162.16 M in assets, while ZAG manages $12.94 B. ZAG is the larger fund by AUM.
How are HBND and ZAG managed?
HBND is actively managed by Hamilton ETFs. It does not track an index. ZAG is passively managed by BMO. It tracks the FTSE Canada Universe Bond TR Index - CAD benchmark.
Which ETF is attracting more investor flows: HBND or ZAG?
Year to date, HBND has seen -$23.16 M in net flows, compared with +$679.30 M for ZAG. ZAG has attracted more net investor money so far.
How do the fees of HBND and ZAG compare?
HBND has an expense ratio of 0.65%, while ZAG has an expense ratio of 0.09%.
Recent articles about HBND and ZAG
Yield-focused ETFs and the Benefit They Can Provide Investors
ETFs that employ covered call-writing strategies can be effective ways to generate monthly yield for investors while still providing exposure to a security or asset class on a long-term basis.
Posted on 6/13/2024 by Kyle Anthony inStock Market
The Rise of Covered Call Bond ETFs in Canada
These new products can potentially help fixed income investors target higher yields while mitigating volatility.
Posted on 12/13/2023 by Edouard Caillieux inETF Ecosystem
The ETF Market Canada is brought to you by Cboe in partnership with Trackinsight SA who is providing all the data, analysis and editorial content on this site. Unless explicitly stated as such, any information that you receive is not real-time.
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.
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.