When evaluating costs, NHYB features a management fee (MER) of 0.69%, compared to 0.15% for ZMBS. Performance-wise, NHYB has returned 2.19% year-to-date with +$179 M in net flows, whereas ZMBS is at 1.29% with +$12 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
NHYB
ZMBS
| AuM | $1,525.77 M | $448.40 M |
| Management Fees | 0.69% | 0.15% |
| Exp. ratio | 0.68% | 0.17% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 2, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | NHYB | -0.44% | -1.04% | -2.19% | -2.34% | +3.63% |
ZMBS | -0.16% | +0.24% | +1.29% | +2.41% | +13.63% | |
| Flows | NHYB | +$48 M | +$88 M | +$179 M | +$264 M | +$426 M |
ZMBS | -$5 M | -$15 M | +$12 M | +$32 M | +$144 M |
NHYB vs ZMBS exposure
Countries
NHYB
Other
100.00%
ZMBS
Other
100.00%
Sectors
NHYB
Other
100.00%
ZMBS
Other
100.00%
As of September 2, 2026
Top 10 Holdings
NHYB
US698ESCAA82
80.00%
ZMBS
CA62989ZXQ58
12.30%
CA62978ZSZ40
9.79%
CA62976Z7R73
8.92%
CA62985ZGG06
6.47%
CA62969ZJ282
6.20%
CA62973Z7C36
5.65%
CA62992ZXE73
4.87%
CA62972ZWF93
4.54%
CA62976ZU425
4.53%
CA62982ZQC19
3.94%
Diversification
NHYB
Total weight of top 10 holdings out of 1 total
80.00%
ZMBS
Total weight of top 10 holdings out of 34 total
67.21%
Characteristics
Compare
NHYB
ZMBS
| Provider | National Bank Investments | BMO |
| Management | Actively managed | Passively managed |
| Benchmark | - | FTSE Canada NHA MBS 975 GTR Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 0.00% | 2.98% |
| Meets ESG criteria | No | No |
| Inception Date | March 4, 2020 | February 11, 2020 |
Frequently asked questions about NHYB and ZMBS
Which ETF has performed better year to date: NHYB or ZMBS?
As of September 2, 2026, NHYB has returned -2.19% year to date, while ZMBS has returned 1.29%. ZMBS is ahead on YTD performance.
Which ETF is larger by assets under management: NHYB or ZMBS?
As of September 2, 2026, NHYB manages $1.53 B in assets, while ZMBS manages $448.40 M. NHYB is the larger fund by AUM.
How are NHYB and ZMBS managed?
NHYB is actively managed by National Bank Investments. It does not track an index. ZMBS is passively managed by BMO. It tracks the FTSE Canada NHA MBS 975 GTR Index - CAD benchmark.
Which ETF is attracting more investor flows: NHYB or ZMBS?
Year to date, NHYB has seen +$178.57 M in net flows, compared with +$12.24 M for ZMBS. NHYB has attracted more net investor money so far.
How do the fees of NHYB and ZMBS compare?
NHYB has an expense ratio of 0.68%, while ZMBS has an expense ratio of 0.17%.
Which ETF is more diversified: NHYB or ZMBS?
NHYB holds 1 securities, while ZMBS holds 1. On holdings count, NHYB is the more diversified portfolio.
Recent articles about NHYB and ZMBS
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