VS
RBC 1-5 Year Laddered Canadian Corporate Bond ETF (RBO) and BMO Aggregate Bond Index ETF (ZAG) offer distinct profiles for Canadian ETF investors. A direct comparison shows that RBO focuses its top 3 sector exposures on Finance, Energy, and Utilities, while ZAG leans towards Sovereign, Municipal, and Finance. When evaluating costs, RBO features a management fee (MER) of 0.25%, compared to 0.08% for ZAG. Performance-wise, RBO has returned 1.09% year-to-date with +$24 M in net flows, whereas ZAG is at 0.04% with +$1 B. 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
RBO
ZAG
| AuM | $207.05 M | $13,173.39 M |
| Management Fees | 0.25% | 0.08% |
| Exp. ratio | 0.28% | 0.09% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 2, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | RBO | -0.36% | -0.06% | +1.09% | +2.25% | +16.50% |
ZAG | -1.20% | -1.66% | +0.04% | +1.95% | +13.54% | |
| Flows | RBO | +$5 M | +$12 M | +$24 M | +$42 M | +$99 M |
ZAG | +$200 M | +$698 M | +$1,269 M | +$2,402 M | +$7,209 M |
RBO vs ZAG exposure
Countries
RBO
Canada
95.95%
ZAG
Canada
96.36%
Sectors
RBO
Finance
67.05%
Energy
10.08%
Utilities
7.39%
Other
15.48%
ZAG
Sovereign
34.56%
Municipal
31.38%
Finance
11.84%
Government Agencies
9.39%
Other
12.84%
As of September 2, 2026
Top 10 Holdings
RBO
Bank of Nova Scotia, 3.61% 30jan2032, CAD
1.66%
CIBC, 3.65% 13jan2032, CAD
1.64%
Bank of Montreal, 3.539% 3mar2032, CAD
1.45%
Royal Bank of Canada, 3.626% 10dec2028, CAD
1.41%
Royal Bank of Canada, 3.985% 22jul2031, CAD
1.34%
Federation des caisses Desjardins du Quebec, 3.714% 16jul2031, CAD
1.30%
Toronto-Dominion Bank, 3.687% 9jan2032, CAD
1.24%
National Bank of Canada, 5.219% 14jun2028, CAD
1.22%
Goldman Sachs, 3.641% 5mar2032, CAD
1.20%
Bank of Montreal, 4.42% 17jul2029, CAD
1.19%
ZAG
Canada, Bonds 3% 1jun2034, CAD
4.29%
Canada, Bonds 2.5% 1nov2027, CAD
3.68%
Canada, Bond 2.25 1jun2029 10Y
2.89%
Canada Housing Trust, 1.1% 15mar2031, CAD (95)
2.68%
Province of Quebec, 3.5% 1dec2048, CAD (B117)
2.41%
Canada, Bonds 2.75% 1dec2055, CAD
2.32%
Canada Housing Trust, 3.55% 15sep2032, CAD (107)
2.23%
Bank of Montreal, 3.19% 1mar2028, CAD
2.21%
Province of Quebec, 2.75% 1sep2028, CAD (B124)
2.20%
Canada, Bonds 2.25% 1feb2028, CAD
2.19%
Diversification
RBO
Total weight of top 10 holdings out of 214 total
13.66%
ZAG
Total weight of top 10 holdings out of 85 total
27.10%
Characteristics
Compare
RBO
ZAG
| Provider | RBC Global Asset Management | BMO |
| Management | Actively managed | Passively managed |
| Benchmark | - | FTSE Canada Universe Bond TR Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.98% | 3.48% |
| Meets ESG criteria | No | No |
| Inception Date | January 15, 2014 | January 19, 2010 |
Frequently asked questions about RBO and ZAG
Which ETF has performed better year to date: RBO or ZAG?
As of September 2, 2026, RBO has returned 1.09% year to date, while ZAG has returned 0.04%. RBO is ahead on YTD performance.
Which ETF is larger by assets under management: RBO or ZAG?
As of September 2, 2026, RBO manages $207.05 M in assets, while ZAG manages $13.17 B. ZAG is the larger fund by AUM.
How are RBO and ZAG managed?
RBO is actively managed by RBC Global Asset Management. It does not track an index. ZAG is passively managed by BMO. It tracks the FTSE Canada Universe Bond TR Index - CAD benchmark.
What sectors do RBO and ZAG emphasize?
RBO is most exposed to Finance, Energy, and Utilities. ZAG is most exposed to Sovereign, Municipal, and Finance.
Which ETF is attracting more investor flows: RBO or ZAG?
Year to date, RBO has seen +$24.27 M in net flows, compared with +$1,268.82 M for ZAG. ZAG has attracted more net investor money so far.
How do the fees of RBO and ZAG compare?
RBO has an expense ratio of 0.28%, while ZAG has an expense ratio of 0.09%.
What are the top holdings of RBO and ZAG?
RBO's largest holdings include Bank of Nova Scotia, 3.61% 30jan2032, CAD, CIBC, 3.65% 13jan2032, CAD, and Bank of Montreal, 3.539% 3mar2032, CAD. ZAG's top holdings include Canada, Bonds 3% 1jun2034, CAD, Canada, Bonds 2.5% 1nov2027, CAD, and Canada, Bond 2.25 1jun2029 10Y.
Which ETF is more diversified: RBO or ZAG?
RBO holds 214 securities, while ZAG holds 85. On holdings count, RBO is the more diversified portfolio.
Recent articles about RBO and ZAG
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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.