VS
Invesco Ultra Liquid Long Term Government Bond Index ETF (PGL) and iShares Core Canadian Long Term Bond Index ETF (XLB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that PGL focuses its top 3 sector exposures on Municipal, Sovereign, and Power, while XLB leans towards Municipal, Sovereign, and Power. When evaluating costs, PGL features a management fee (MER) of 0.25%, compared to 0.18% for XLB. Performance-wise, PGL has returned 0.8% year-to-date with -$9 M in net flows, whereas XLB is at 0.86% with -$83 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
PGL
XLB
| AuM | $70.94 M | $750.51 M |
| Management Fees | 0.25% | 0.18% |
| Exp. ratio | 0.27% | 0.20% |
| Tracking Difference | - | - |
Historical performance and flows
As of May 1, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | PGL | +1.50% | +0.13% | +0.80% | -0.27% | +0.19% |
XLB | +1.54% | +0.05% | +0.86% | +0.75% | +5.68% | |
| Flows | PGL | -$3 M | -$8 M | -$9 M | -$225 M | -$274 M |
XLB | -$64 M | -$57 M | -$83 M | -$78 M | +$37 M |
PGL vs XLB exposure
Countries
PGL
Canada
100.00%
XLB
Canada
99.83%
Sectors
PGL
Municipal
63.63%
Sovereign
24.90%
Other
7.02%
XLB
Municipal
49.20%
Sovereign
17.79%
Power
9.48%
Other
7.77%
Other
15.76%
As of May 1, 2026
Top 10 Holdings
PGL
Canada, Bonds 3.5% 1dec2057, CAD
5.07%
Canada, Bond 2 1jan2051 30Y
4.88%
Canada, Bonds 2.75% 1dec2055, CAD
4.79%
Canada, Bond 1.75 1dec2053 30Y
3.86%
Province of Quebec, 4.4% 1dec2055, CAD (B133)
3.21%
Province of Ontario, 3.45% 2jun2045, CAD (DMTN220)
2.39%
Province of Ontario, 2.9% 2dec2046, CAD (DMTN228)
2.20%
Province of Ontario, 4.65% 2jun2041, CAD (DMTN204)
2.20%
Province of Quebec, 3.1% 1dec2051, CAD (B125-01)
2.19%
Province of Ontario, 3.75% 2dec2053, CAD (DMTN255)
2.00%
XLB
Canada, Bonds 3.5% 1dec2057, CAD
3.90%
Canada, Bond 2 1jan2051 30Y
3.42%
Canada, Bonds 2.75% 1dec2055, CAD
3.35%
Canada, Bond 1.75 1dec2053 30Y
2.69%
CA135087U287
2.37%
Province of Quebec, 4.4% 1dec2055, CAD (B133)
2.23%
Province of Ontario, 3.45% 2jun2045, CAD (DMTN220)
1.67%
Province of Ontario, 2.9% 2dec2046, CAD (DMTN228)
1.56%
Province of Ontario, 4.65% 2jun2041, CAD (DMTN204)
1.52%
Province of Quebec, 3.1% 1dec2051, CAD (B125-01)
1.51%
Diversification
PGL
Total weight of top 10 holdings out of 96 total
32.79%
XLB
Total weight of top 10 holdings out of 629 total
24.23%
Characteristics
Compare
PGL
XLB
| Provider | Invesco | iShares |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE TMX Canada Ultra Liquid Long Term Government Bond Total Return Index - CAD | FTSE Canada Long Term Overall Bond TR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 4.21% | 4.07% |
| Meets ESG criteria | No | No |
| Inception Date | June 15, 2011 | November 6, 2006 |
Frequently asked questions about PGL and XLB
Which ETF has performed better year to date: PGL or XLB?
As of May 1, 2026, PGL has returned 0.80% year to date, while XLB has returned 0.86%. XLB is ahead on YTD performance.
Which ETF is larger by assets under management: PGL or XLB?
As of May 1, 2026, PGL manages $70.94 M in assets, while XLB manages $750.51 M. XLB is the larger fund by AUM.
How are PGL and XLB managed?
PGL is passively managed by Invesco. It tracks the FTSE TMX Canada Ultra Liquid Long Term Government Bond Total Return Index - CAD benchmark. XLB is passively managed by iShares. It tracks the FTSE Canada Long Term Overall Bond TR Index - CAD benchmark.
What sectors do PGL and XLB emphasize?
PGL is most exposed to Municipal, Sovereign, and Power. XLB is most exposed to Municipal, Sovereign, and Power.
Which ETF is attracting more investor flows: PGL or XLB?
Year to date, PGL has seen -$9.42 M in net flows, compared with -$83.30 M for XLB. PGL has attracted more net investor money so far.
How do the fees of PGL and XLB compare?
PGL has an expense ratio of 0.27%, while XLB has an expense ratio of 0.20%.
What are the top holdings of PGL and XLB?
PGL's largest holdings include Canada, Bonds 3.5% 1dec2057, CAD and Canada, Bond 2 1jan2051 30Y. XLB's top holdings include Canada, Bonds 3.5% 1dec2057, CAD and Canada, Bond 2 1jan2051 30Y.
Which ETF is more diversified: PGL or XLB?
PGL holds 87 securities, while XLB holds 579. On holdings count, XLB is the more diversified portfolio.
Recent articles about PGL and XLB
Sharp Decline for Long-Term Bonds After Fed Rate Hike
ETF data story for the week of July 24 to 28, 2023
Posted on 8/1/2023 by ETF Market Canada inStock Market
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