VS
When evaluating costs, MCSB features a management fee (MER) of 0.35%, compared to 0.08% for ZAG. Performance-wise, MCSB has returned 0.48% year-to-date with +$1 M in net flows, whereas ZAG is at 0.62% 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
MCSB
ZAG
| AuM | $37.41 M | $12,976.32 M |
| Management Fees | 0.35% | 0.08% |
| Exp. ratio | 0.40% | 0.09% |
| Tracking Difference | - | - |
Historical performance and flows
As of October 1, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | MCSB | -0.54% | -0.93% | +0.48% | +0.80% | +15.74% |
ZAG | -0.66% | -2.31% | -0.62% | -0.88% | +14.95% | |
| Flows | MCSB | -$5 M | +$1 M | +$1 M | +$1 M | +$19 M |
ZAG | -$71 M | +$457 M | +$1,194 M | +$1,978 M | +$7,233 M |
MCSB vs ZAG exposure
Countries
MCSB
Exposure data will be available soon
ZAG
Canada
95.65%
Sectors
MCSB
Exposure data will be available soon
ZAG
Sovereign
34.55%
Municipal
30.89%
Finance
11.07%
Government Agencies
9.38%
Other
14.10%
As of October 1, 2026
Top 10 Holdings
MCSB
Exposure data will be available soon
ZAG
Canada, Bonds 3% 1jun2034, CAD
4.28%
Canada, Bonds 2.5% 1nov2027, CAD
3.69%
Canada, Bonds 2.25% 1feb2028, CAD
2.94%
Canada, Bond 2.25 1jun2029 10Y
2.90%
Canada, Bonds 2.75% 1dec2055, CAD
2.84%
Canada Housing Trust, 1.1% 15mar2031, CAD (95)
2.68%
Province of Quebec, 3.5% 1dec2048, CAD (B117)
2.38%
Bank of Montreal, 3.19% 1mar2028, CAD
2.22%
Province of Quebec, 2.75% 1sep2028, CAD (B124)
2.21%
Canada, Bonds 2.75% 1mar2030, CAD
2.19%
Diversification
MCSB
Exposure data will be available soon
ZAG
Total weight of top 10 holdings out of 86 total
28.34%
Characteristics
Compare
MCSB
ZAG
| Provider | Mackenzie Investments | 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 | 2.59% | 3.50% |
| Meets ESG criteria | No | No |
| Inception Date | November 22, 2017 | January 19, 2010 |
Frequently asked questions about MCSB and ZAG
Which ETF has performed better year to date: MCSB or ZAG?
As of October 1, 2026, MCSB has returned 0.48% year to date, while ZAG has returned -0.62%. MCSB is ahead on YTD performance.
Which ETF is larger by assets under management: MCSB or ZAG?
As of October 1, 2026, MCSB manages $37.41 M in assets, while ZAG manages $12.98 B. ZAG is the larger fund by AUM.
How are MCSB and ZAG managed?
MCSB is actively managed by Mackenzie Investments. 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: MCSB or ZAG?
Year to date, MCSB has seen +$1.05 M in net flows, compared with +$1,193.99 M for ZAG. ZAG has attracted more net investor money so far.
How do the fees of MCSB and ZAG compare?
MCSB has an expense ratio of 0.40%, while ZAG has an expense ratio of 0.09%.
Recent articles about MCSB and ZAG
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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.