VS
RBC Target 2029 Canadian Government Bond ETF (RGQR) and BMO Discount Bond Index ETF (ZDB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that RGQR focuses its top 3 sector exposures on Municipal, Sovereign, and Finance, while ZDB leans towards Sovereign, Municipal, and Finance. When evaluating costs, RGQR features a management fee (MER) of 0.15%, compared to 0.09% for ZDB. Performance-wise, RGQR has returned 1.21% year-to-date with +$37 M in net flows, whereas ZDB is at 0.97% with +$303 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
RGQR
ZDB
| AuM | $101.46 M | $1,448.26 M |
| Management Fees | 0.15% | 0.09% |
| Exp. ratio | 0.17% | 0.10% |
| Tracking Difference | - | - |
Historical performance and flows
As of November 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | RGQR | +0.35% | +0.36% | +1.21% | +0.97% | +15.00% |
ZDB | +1.15% | +0.87% | +0.97% | +0.04% | +14.03% | |
| Flows | RGQR | +$5 M | +$10 M | +$37 M | +$24 M | +$71 M |
ZDB | +$39 M | +$106 M | +$303 M | +$600 M | +$541 M |
RGQR vs ZDB exposure
Countries
RGQR
Canada
99.63%
ZDB
Canada
100.00%
Sectors
RGQR
Municipal
46.92%
Sovereign
22.64%
Finance
14.63%
Government Agencies
11.05%
ZDB
Sovereign
33.38%
Municipal
31.30%
Finance
11.64%
Government Agencies
9.98%
Other
13.70%
As of November 11, 2026
Top 10 Holdings
RGQR
Province of Ontario, 2.7% 2jun2029, CAD (DMTN240)
11.08%
Province of Quebec, 2.3% 1sep2029, CAD (B126)
10.37%
Canada, Bonds 4% 1mar2029, CAD
10.06%
Province of Ontario, 4% 8mar2029, CAD (DMTN264)
7.38%
Canada, Bonds 2.25% 1dec2029, CAD
6.98%
CMHC, 2.1% 15sep2029, CAD (88)
6.17%
PSP Capital, 3.75% 15jun2029, CAD (G-8)
6.07%
Alberta, 2.9% 20sep2029, CAD
5.91%
Canada, Bond 2.25 1jun2029 10Y
5.60%
Hydro-Quebec, 3.4% 1sep2029, CAD (0086)
4.40%
ZDB
Canada, Bond 0.5 1oct2030 10Y
18.61%
CMHC, 1.9% 15mar2031, CAD (100)
6.31%
Sun Life Financial, 2.06% 1oct2035, CAD (2020-2)
5.67%
Province of Quebec, 1.5% 1sep2031, CAD (B128)
5.50%
Province of Ontario, 2.05% 2jun2030, CAD (DMTN243)
5.15%
Province of Ontario, 2.65% 2dec2050, CAD (DMTN242)
5.01%
Canada, Bonds 2.25% 1dec2029, CAD
4.59%
Toronto-Dominion Bank, 1.896% 11sep2028, CAD
3.30%
Canada, Bonds 2% 1jun2032, CAD
3.11%
Pembina Pipeline Corporation, 3.31% 1feb2030, CAD (15)
2.66%
Diversification
RGQR
Total weight of top 10 holdings out of 21 total
74.02%
ZDB
Total weight of top 10 holdings out of 45 total
59.92%
Characteristics
Compare
RGQR
ZDB
| Provider | RBC Global Asset Management | BMO |
| Management | Actively managed | Passively managed |
| Benchmark | - | FTSE Canada Universe Discount Bond Index - CAD |
| Replication Method | - | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.90% | 1.80% |
| Meets ESG criteria | No | No |
| Inception Date | April 21, 2023 | February 10, 2014 |
Frequently asked questions about RGQR and ZDB
Which ETF has performed better year to date: RGQR or ZDB?
As of November 11, 2026, RGQR has returned 1.21% year to date, while ZDB has returned 0.97%. RGQR is ahead on YTD performance.
Which ETF is larger by assets under management: RGQR or ZDB?
As of November 11, 2026, RGQR manages $101.46 M in assets, while ZDB manages $1.45 B. ZDB is the larger fund by AUM.
How are RGQR and ZDB managed?
RGQR is actively managed by RBC Global Asset Management. It does not track an index. ZDB is passively managed by BMO. It tracks the FTSE Canada Universe Discount Bond Index - CAD benchmark.
What sectors do RGQR and ZDB emphasize?
RGQR is most exposed to Municipal, Sovereign, and Finance. ZDB is most exposed to Sovereign, Municipal, and Finance.
Which ETF is attracting more investor flows: RGQR or ZDB?
Year to date, RGQR has seen +$37.28 M in net flows, compared with +$302.93 M for ZDB. ZDB has attracted more net investor money so far.
How do the fees of RGQR and ZDB compare?
RGQR has an expense ratio of 0.17%, while ZDB has an expense ratio of 0.10%.
What are the top holdings of RGQR and ZDB?
RGQR's largest holdings include Province of Ontario, 2.7% 2jun2029, CAD (DMTN240), Province of Quebec, 2.3% 1sep2029, CAD (B126), and Canada, Bonds 4% 1mar2029, CAD. ZDB's top holdings include Canada, Bond 0.5 1oct2030 10Y, CMHC, 1.9% 15mar2031, CAD (100), and Sun Life Financial, 2.06% 1oct2035, CAD (2020-2).
Which ETF is more diversified: RGQR or ZDB?
RGQR holds 21 securities, while ZDB holds 45. On holdings count, ZDB is the more diversified portfolio.
Recent articles about RGQR and ZDB
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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.