VS
CI Canadian Government Floating Rate Index ETF (PFL) and iShares Floating Rate Index ETF (XFR) offer distinct profiles for Canadian ETF investors. A direct comparison shows that PFL focuses its top 3 sector exposures on Government Agencies and Municipal, while XFR leans towards Government Agencies, Municipal, and Finance. When evaluating costs, PFL features a management fee (MER) of 0.2%, compared to 0.12% for XFR. 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
PFL
XFR
| AuM | - | $991.87 M |
| Management Fees | 0.20% | 0.12% |
| Exp. ratio | 0.13% | 0.13% |
| Tracking Difference | - | - |
Historical performance and flows
As of October 30, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | PFL | - | - | - | - | - |
XFR | +0.17% | +0.69% | +2.21% | +2.77% | +11.42% | |
| Flows | PFL | - | - | - | - | - |
XFR | +$106 M | +$191 M | +$245 M | +$247 M | +$132 M |
PFL vs XFR exposure
Countries
PFL
Canada
100.21%
XFR
Canada
91.52%
Other
8.47%
Sectors
PFL
Government Agencies
77.71%
Municipal
22.50%
XFR
Government Agencies
47.29%
Municipal
33.41%
Finance
10.83%
Other
8.47%
As of October 30, 2026
Top 10 Holdings
PFL
Canada Housing Trust, FRN 15mar2028, CAD (111)
16.45%
Canada Housing Trust, FRN 15sep2027, CAD (108)
16.44%
Province of Ontario, FRN 27nov2028, CAD (DMTN261)
11.32%
CMHC, FRN 15mar2029, CAD (119)
11.25%
Canada Housing Trust, FRN 15sep2028, CAD (114)
11.23%
Province of Ontario, FRN 21feb2030, CAD (DMTN270)
11.18%
Canada Housing Trust, FRN 15mar2030, CAD (124)
11.17%
Canada Housing Trust, FRN 15sep2029, CAD (121)
11.17%
XFR
Province of Ontario, FRN 27nov2028, CAD (DMTN261)
8.58%
Canada Housing Trust, FRN 15mar2028, CAD (111)
8.04%
Canada Housing Trust, FRN 15sep2027, CAD (108)
7.93%
Canada Housing Trust, FRN 15sep2028, CAD (114)
7.21%
CMHC, FRN 15mar2027, CAD (103)
6.05%
Province of Ontario, FRN 13jan2031, CAD (DMTN275)
5.33%
Canada Housing Trust, FRN 15mar2030, CAD (124)
5.07%
Province of Quebec, FRN 22jul2030, CAD (B139)
5.00%
Province of Ontario, FRN 21feb2030, CAD (DMTN270)
4.70%
Province of Ontario, FRN 19nov2030, CAD (DMTN274)
4.66%
Diversification
PFL
Total weight of top 10 holdings out of 8 total
100.21%
XFR
Total weight of top 10 holdings out of 24 total
62.56%
Characteristics
Compare
PFL
XFR
| Provider | CI | iShares |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Government Floating Rate Note Index - CAD | FTSE Canada Floating Rate Note TR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | - | 2.59% |
| Meets ESG criteria | No | No |
| Inception Date | July 21, 2014 | December 6, 2011 |
Frequently asked questions about PFL and XFR
How do the fees of PFL and XFR compare?
PFL has an expense ratio of 0.13%, while XFR has an expense ratio of 0.13%.
What are the top holdings of PFL and XFR?
PFL's largest holdings include Canada Housing Trust, FRN 15mar2028, CAD (111), Canada Housing Trust, FRN 15sep2027, CAD (108), and Province of Ontario, FRN 27nov2028, CAD (DMTN261). XFR's top holdings include Province of Ontario, FRN 27nov2028, CAD (DMTN261) and Canada Housing Trust, FRN 15mar2028, CAD (111).
Which ETF is more diversified: PFL or XFR?
PFL holds 8 securities, while XFR holds 22. On holdings count, XFR is the more diversified portfolio.
How are PFL and XFR managed?
PFL is passively managed by CI. It tracks the FTSE Canada Government Floating Rate Note Index - CAD benchmark. XFR is passively managed by iShares. It tracks the FTSE Canada Floating Rate Note TR Index - CAD benchmark.
What sectors do PFL and XFR emphasize?
PFL is most exposed to Government Agencies and Municipal. XFR is most exposed to Government Agencies, Municipal, and Finance.
Recent articles about PFL and XFR
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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.