VS
Global X Short-Term Government Bond Premium Yield ETF (PAYS) and CIBC Active Investment Grade Floating Rate Bond ETF (CFRN) offer distinct profiles for Canadian ETF investors. A direct comparison shows that PAYS focuses its top 3 sector exposures on Sovereign, Government Agencies, and Non-Corporate, while CFRN leans towards Finance, Consumer Cyclicals, and Industrials. When evaluating costs, PAYS features a management fee (MER) of 0.4%, compared to 0.3% for CFRN. Performance-wise, PAYS has returned 0.88% year-to-date with +$25 M in net flows, whereas CFRN is at 1.84% with +$84 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
PAYS
CFRN
| AuM | $104.49 M | $635.95 M |
| Management Fees | 0.40% | 0.30% |
| Exp. ratio | 0.52% | 0.34% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 2, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | PAYS | -0.01% | -0.02% | +0.88% | +1.61% | - |
CFRN | +0.17% | +0.69% | +1.84% | +2.88% | +12.59% | |
| Flows | PAYS | -$2 M | -$2 M | +$25 M | +$13 M | - |
CFRN | +$11 M | +$61 M | +$84 M | +$143 M | +$308 M |
PAYS vs CFRN exposure
Countries
PAYS
Canada
79.28%
USA
12.21%
Other
8.51%
CFRN
Canada
72.53%
Other
18.25%
USA
9.22%
Sectors
PAYS
Sovereign
87.78%
Other
8.51%
CFRN
Finance
53.67%
Other
18.25%
Consumer Cyclicals
12.77%
Other
15.31%
As of September 2, 2026
Top 10 Holdings
PAYS
Canada, Bills 0% 9nov2023, CAD (364D)
64.93%
CA37893H2037
6.44%
CA37966J2011
1.87%
Canada, Bonds 2.75% 1sep2030, CAD
1.54%
Canada, Bonds 3.25% 1sep2028, CAD
1.26%
Canada, Bonds 2.75% 1mar2031, CAD
1.23%
Canada, Bonds 4% 1mar2029, CAD
1.17%
Canada, Bonds 2.75% 1mar2030, CAD
1.13%
Canada, Bonds 3.5% 1sep2029, CAD
1.05%
Canada, Bond 1.25 1jun2030 10Y
0.87%
CFRN
Province of Quebec, FRN 22jul2030, CAD (B139)
4.49%
Equitable Bank, FRN 3aug2027, CAD
4.42%
Granite REIT Holdings, FRN 11dec2026, CAD
4.18%
Original WEMPI, 7.791% 4oct2027, CAD (144A)
4.17%
Bank of Nova Scotia, FRN 10mar2029, CAD
4.02%
VW Credit Canada, FRN 19feb2027, CAD
4.02%
Enbridge, FRN 25feb2028, CAD
3.65%
Toyota Credit Canada, FRN 20nov2028, CAD (97)
3.62%
Dream Summit Industrial, FRN 4mar2028, CAD
3.39%
Chartwell Retirement Residences, 6% 8dec2026, CAD
3.29%
Diversification
PAYS
Total weight of top 10 holdings out of 74 total
81.50%
CFRN
Total weight of top 10 holdings out of 40 total
39.24%
Characteristics
Frequently asked questions about PAYS and CFRN
Which ETF has performed better year to date: PAYS or CFRN?
As of September 2, 2026, PAYS has returned 0.88% year to date, while CFRN has returned 1.84%. CFRN is ahead on YTD performance.
Which ETF is larger by assets under management: PAYS or CFRN?
As of September 2, 2026, PAYS manages $104.49 M in assets, while CFRN manages $635.95 M. CFRN is the larger fund by AUM.
How are PAYS and CFRN managed?
PAYS is actively managed by Global X. It does not track an index. CFRN is actively managed by CIBC. It does not track an index.
What sectors do PAYS and CFRN emphasize?
PAYS is most exposed to Sovereign, Government Agencies, and Non-Corporate. CFRN is most exposed to Finance, Consumer Cyclicals, and Industrials.
Which ETF is attracting more investor flows: PAYS or CFRN?
Year to date, PAYS has seen +$24.54 M in net flows, compared with +$84.25 M for CFRN. CFRN has attracted more net investor money so far.
How do the fees of PAYS and CFRN compare?
PAYS has an expense ratio of 0.52%, while CFRN has an expense ratio of 0.34%.
What are the top holdings of PAYS and CFRN?
PAYS's largest holdings include Canada, Bills 0% 9nov2023, CAD (364D) and Canada, Bonds 2.75% 1sep2030, CAD. CFRN's top holdings include Province of Quebec, FRN 22jul2030, CAD (B139) and Equitable Bank, FRN 3aug2027, CAD.
Which ETF is more diversified: PAYS or CFRN?
PAYS holds 73 securities, while CFRN holds 33. On holdings count, PAYS is the more diversified portfolio.
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