VS
Invesco Global Bond ETF (ICGB) and BMO Equal Weight Banks Index ETF (ZEB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ICGB focuses its top 3 sector exposures on Sovereign, Power, and Banks, while ZEB leans towards Financials. When evaluating costs, ICGB features a management fee (MER) of 0.55%, compared to 0.25% for ZEB. Performance-wise, ICGB has returned 1.55% year-to-date with -$2 M in net flows, whereas ZEB is at 15.52% with -$1,017 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
ICGB
ZEB
| AuM | $160.24 M | $5,273.71 M |
| Management Fees | 0.55% | 0.25% |
| Exp. ratio | 0.63% | 0.28% |
| Tracking Difference | - | -0.67% |
Historical performance and flows
As of May 12, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ICGB | -0.36% | -2.15% | -1.55% | -0.82% | - |
ZEB | +4.94% | +12.72% | +15.52% | +63.06% | +122.25% | |
| Flows | ICGB | +$1 M | +$77 M | -$2 M | +$18 M | - |
ZEB | -$97 M | -$405 M | -$1,017 M | -$1,400 M | -$1,455 M |
ICGB vs ZEB exposure
Countries
ICGB
USA
52.63%
Canada
21.40%
Other
25.97%
ZEB
Canada
100.00%
Sectors
ICGB
Other
76.52%
Sovereign
16.63%
ZEB
Financials
100.00%
As of May 12, 2026
Top 10 Holdings
ICGB
Netherlands, DSL 0.75% 15jul2027, EUR
2.46%
US01F0606420
2.33%
US01F0326417
2.32%
Germany, Bund 2.6% 15aug2034, EUR
2.24%
JP1103781R44
1.65%
US26951TAA88
1.36%
US076912AA21
1.29%
Japan, JGB 0.2% 20jun2032, JPY
1.27%
Netherlands, DSL 0.25% 15jul2029, EUR
1.22%
France, OAT 3.2% 25may2035, EUR
1.21%
ZEB
ROYAL BK CANADA
17.14%
TORONTO DOMINION
17.02%
BNS
16.62%
BANK OF MONTREAL
16.48%
CDN IMPERIAL BK
16.40%
NATIONAL BANK OF CANADA
16.33%
Diversification
ICGB
Total weight of top 10 holdings out of 1,568 total
17.34%
ZEB
Total weight of top 10 holdings out of 6 total
100.00%
Characteristics
Compare
ICGB
ZEB
| Provider | Invesco | BMO |
| Management | Actively managed | Passively managed |
| Benchmark | - | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Fixed Income | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 0.00% | 2.61% |
| Meets ESG criteria | No | No |
| Inception Date | August 15, 2024 | October 20, 2009 |
Frequently asked questions about ICGB and ZEB
Which ETF has performed better year to date: ICGB or ZEB?
As of May 12, 2026, ICGB has returned -1.55% year to date, while ZEB has returned 15.52%. ZEB is ahead on YTD performance.
Which ETF is larger by assets under management: ICGB or ZEB?
As of May 12, 2026, ICGB manages $160.24 M in assets, while ZEB manages $5.27 B. ZEB is the larger fund by AUM.
How are ICGB and ZEB managed?
ICGB is actively managed by Invesco. It does not track an index. ZEB is passively managed by BMO. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do ICGB and ZEB emphasize?
ICGB is most exposed to Sovereign, Power, and Banks. ZEB is most exposed to Financials.
Which ETF is attracting more investor flows: ICGB or ZEB?
Year to date, ICGB has seen -$1.58 M in net flows, compared with -$1,017.47 M for ZEB. ICGB has attracted more net investor money so far.
How do the fees of ICGB and ZEB compare?
ICGB has an expense ratio of 0.63%, while ZEB has an expense ratio of 0.28%.
What are the top holdings of ICGB and ZEB?
ICGB's largest holdings include Netherlands, DSL 0.75% 15jul2027, EUR and Germany, Bund 2.6% 15aug2034, EUR. ZEB's top holdings include ROYAL BK CANADA, TORONTO DOMINION, and BNS.
Which ETF is more diversified: ICGB or ZEB?
ICGB holds 523 securities, while ZEB holds 6. On holdings count, ICGB is the more diversified portfolio.
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