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Compare CI Canadian Government Floating Rate Index ETF (PFL) vs iShares Canadian Government Bond Index ETF (XGB) to find the best fit for your portfolio. PFL provides Government Agencies and Municipal exposures, while XGB is primarily weighted in Sovereign, Municipal, and Government Agencies. When evaluating costs, PFL features a management fee (MER) of 0.2%, compared to 0.12% for XGB. Performance-wise, PFL has returned 1.81% year-to-date with +$16 M in net flows, whereas XGB is at 0.72% with -$212 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
PFL
XGB
| AuM | $278.86 M | $1,594.13 M |
| Management Fees | 0.20% | 0.12% |
| Exp. ratio | 0.13% | 0.13% |
| Tracking Difference | - | - |
Historical performance and flows
As of October 19, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | PFL | +0.17% | +0.44% | +1.81% | +2.36% | +9.25% |
XGB | -0.48% | -1.66% | -0.72% | -2.14% | +14.00% | |
| Flows | PFL | +$9 M | +$14 M | +$16 M | -$14 M | -$434 M |
XGB | -$65 M | -$36 M | -$212 M | -$119 M | +$681 M |
PFL vs XGB exposure
Countries
PFL
Canada
99.98%
XGB
Canada
99.18%
Sectors
PFL
Government Agencies
77.66%
Municipal
22.32%
XGB
Sovereign
44.40%
Municipal
38.41%
Government Agencies
9.61%
Other
7.58%
As of October 19, 2026
Top 10 Holdings
PFL
Canada Housing Trust, FRN 15mar2028, CAD (111)
16.44%
Canada Housing Trust, FRN 15sep2027, CAD (108)
16.43%
CMHC, FRN 15mar2029, CAD (119)
11.24%
Province of Ontario, FRN 27nov2028, CAD (DMTN261)
11.24%
Canada Housing Trust, FRN 15sep2028, CAD (114)
11.22%
Canada Housing Trust, FRN 15mar2030, CAD (124)
11.16%
Canada Housing Trust, FRN 15sep2029, CAD (121)
11.16%
Province of Ontario, FRN 21feb2030, CAD (DMTN270)
11.08%
XGB
Canada, Bonds 2.75% 1sep2030, CAD
2.01%
Canada, Bonds 3.25% 1jun2036, CAD
2.00%
Canada, Bonds 2.75% 1mar2031, CAD
1.99%
Canada, Bonds 3.25% 1dec2035, CAD
1.98%
Canada, Bonds 3.25% 1jun2035, CAD
1.81%
Canada, Bonds 3% 1jun2034, CAD
1.57%
Canada, Bonds 3% 1sep2031, CAD
1.55%
Canada, Bonds 2.75% 1mar2030, CAD
1.55%
Canada, Bonds 3.5% 1sep2029, CAD
1.51%
Canada, Bonds 3.5% 1dec2057, CAD
1.50%
Diversification
PFL
Total weight of top 10 holdings out of 8 total
99.98%
XGB
Total weight of top 10 holdings out of 550 total
17.48%
Characteristics
Compare
PFL
XGB
| Provider | CI | iShares |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Government Floating Rate Note Index - CAD | FTSE Canada All Government Bond TR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.31% | 3.23% |
| Meets ESG criteria | No | No |
| Inception Date | July 21, 2014 | November 6, 2006 |
Frequently asked questions about PFL and XGB
Which ETF has performed better year to date: PFL or XGB?
As of October 19, 2026, PFL has returned 1.81% year to date, while XGB has returned -0.72%. PFL is ahead on YTD performance.
Which ETF is larger by assets under management: PFL or XGB?
As of October 19, 2026, PFL manages $278.86 M in assets, while XGB manages $1.59 B. XGB is the larger fund by AUM.
How are PFL and XGB managed?
PFL is passively managed by CI. It tracks the FTSE Canada Government Floating Rate Note Index - CAD benchmark. XGB is passively managed by iShares. It tracks the FTSE Canada All Government Bond TR Index - CAD benchmark.
What sectors do PFL and XGB emphasize?
PFL is most exposed to Government Agencies and Municipal. XGB is most exposed to Sovereign, Municipal, and Government Agencies.
Which ETF is attracting more investor flows: PFL or XGB?
Year to date, PFL has seen +$15.57 M in net flows, compared with -$212.49 M for XGB. PFL has attracted more net investor money so far.
How do the fees of PFL and XGB compare?
PFL has an expense ratio of 0.13%, while XGB has an expense ratio of 0.13%.
What are the top holdings of PFL and XGB?
PFL's largest holdings include Canada Housing Trust, FRN 15mar2028, CAD (111), Canada Housing Trust, FRN 15sep2027, CAD (108), and CMHC, FRN 15mar2029, CAD (119). XGB's top holdings include Canada, Bonds 2.75% 1sep2030, CAD, Canada, Bonds 3.25% 1jun2036, CAD, and Canada, Bonds 2.75% 1mar2031, CAD.
Which ETF is more diversified: PFL or XGB?
PFL holds 8 securities, while XGB holds 549. On holdings count, XGB is the more diversified portfolio.
Recent articles about PFL and XGB
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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.