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Compare RBC Target 2028 Canadian Government Bond ETF (RGQQ) vs iShares Canadian Government Bond Index ETF (XGB) to find the best fit for your portfolio. RGQQ provides Municipal, Government Agencies, and Sovereign exposures, while XGB is primarily weighted in Sovereign, Municipal, and Government Agencies. When evaluating costs, RGQQ features a management fee (MER) of 0.15%, compared to 0.12% for XGB. Performance-wise, RGQQ has returned 1.32% year-to-date with +$72 M in net flows, whereas XGB is at 0.08% 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
RGQQ
XGB
| AuM | $146.89 M | $1,606.98 M |
| Management Fees | 0.15% | 0.12% |
| Exp. ratio | 0.17% | 0.13% |
| Tracking Difference | - | - |
Historical performance and flows
As of October 16, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | RGQQ | +0.55% | +0.20% | +1.32% | +1.26% | +16.15% |
XGB | +1.07% | -1.09% | +0.08% | -1.09% | +13.82% | |
| Flows | RGQQ | +$34 M | +$40 M | +$72 M | +$76 M | +$130 M |
XGB | -$65 M | -$34 M | -$212 M | -$117 M | +$680 M |
RGQQ vs XGB exposure
Countries
RGQQ
Canada
99.98%
XGB
Canada
99.18%
Sectors
RGQQ
Municipal
45.33%
Government Agencies
24.31%
Sovereign
17.88%
Finance
9.20%
XGB
Sovereign
44.40%
Municipal
38.41%
Government Agencies
9.61%
Other
7.58%
As of October 16, 2026
Top 10 Holdings
RGQQ
CMHC, 2.65% 15dec2028, CAD (85)
11.47%
Province of Quebec, 2.75% 1sep2028, CAD (B124)
7.81%
Province of Ontario, 2.9% 2jun2028, CAD (DMTN238)
7.33%
Canada Housing Trust, 3.1% 15jun2028, CAD (113)
6.71%
Province of Ontario, 3.6% 8mar2028, CAD
6.60%
CMHC, 2.65% 15mar2028, CAD (82)
6.13%
Canada, Bond 2 1jun2028 10Y
5.78%
Canada, Bonds 2.25% 1feb2028, CAD
4.99%
Province of Ontario, 3.4% 8sep2028, CAD (DMTN259)
4.76%
Alberta, 2.9% 1dec2028, CAD
4.26%
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
RGQQ
Total weight of top 10 holdings out of 22 total
65.86%
XGB
Total weight of top 10 holdings out of 550 total
17.48%
Characteristics
Compare
RGQQ
XGB
| Provider | RBC Global Asset Management | iShares |
| Management | Actively managed | Passively managed |
| Benchmark | - | FTSE Canada All Government Bond TR Index - CAD |
| Replication Method | - | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.79% | 3.20% |
| Meets ESG criteria | No | No |
| Inception Date | April 21, 2023 | November 6, 2006 |
Frequently asked questions about RGQQ and XGB
Which ETF has performed better year to date: RGQQ or XGB?
As of October 16, 2026, RGQQ has returned 1.32% year to date, while XGB has returned 0.08%. RGQQ is ahead on YTD performance.
Which ETF is larger by assets under management: RGQQ or XGB?
As of October 16, 2026, RGQQ manages $146.89 M in assets, while XGB manages $1.61 B. XGB is the larger fund by AUM.
How are RGQQ and XGB managed?
RGQQ is actively managed by RBC Global Asset Management. It does not track an index. XGB is passively managed by iShares. It tracks the FTSE Canada All Government Bond TR Index - CAD benchmark.
What sectors do RGQQ and XGB emphasize?
RGQQ is most exposed to Municipal, Government Agencies, and Sovereign. XGB is most exposed to Sovereign, Municipal, and Government Agencies.
Which ETF is attracting more investor flows: RGQQ or XGB?
Year to date, RGQQ has seen +$71.92 M in net flows, compared with -$212.49 M for XGB. RGQQ has attracted more net investor money so far.
How do the fees of RGQQ and XGB compare?
RGQQ has an expense ratio of 0.17%, while XGB has an expense ratio of 0.13%.
What are the top holdings of RGQQ and XGB?
RGQQ's largest holdings include CMHC, 2.65% 15dec2028, CAD (85), Province of Quebec, 2.75% 1sep2028, CAD (B124), and Province of Ontario, 2.9% 2jun2028, CAD (DMTN238). 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: RGQQ or XGB?
RGQQ holds 22 securities, while XGB holds 549. On holdings count, XGB is the more diversified portfolio.
Recent articles about RGQQ 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.