VS
Compare RBC Target 2029 Canadian Government Bond ETF (RGQR) vs BMO Long Federal Bond Index ETF (ZFL) to find the best fit for your portfolio. RGQR provides Municipal, Sovereign, and Finance exposures, while ZFL is primarily weighted in Sovereign. When evaluating costs, RGQR features a management fee (MER) of 0.15%, compared to 0.2% for ZFL. Performance-wise, RGQR has returned 1.21% year-to-date with +$37 M in net flows, whereas ZFL is at 0.41% with +$168 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
ZFL
| AuM | $101.46 M | $1,391.59 M |
| Management Fees | 0.15% | 0.20% |
| Exp. ratio | 0.17% | 0.22% |
| 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% |
ZFL | +3.10% | +1.70% | -0.41% | -3.75% | +3.59% | |
| Flows | RGQR | +$5 M | +$10 M | +$37 M | +$24 M | +$71 M |
ZFL | -$14 M | +$104 M | +$168 M | -$125 M | -$1,528 M |
RGQR vs ZFL exposure
Countries
RGQR
Canada
99.63%
ZFL
Canada
100.00%
Sectors
RGQR
Municipal
46.92%
Sovereign
22.64%
Finance
14.63%
Government Agencies
11.05%
ZFL
Sovereign
100.00%
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%
ZFL
Canada, Bond 2 1jan2051 30Y
21.05%
Canada, Bonds 3.5% 1dec2057, CAD
15.58%
Canada, Bonds 2.75% 1dec2055, CAD
13.41%
Canada, Bond 3.5 1dec2045 30Y
13.10%
Canada, Bond 4 1jun2041 30Y
12.44%
Canada, Bond 2.75 1dec2048 30Y
11.33%
Canada, Bond 1.75 1dec2053 30Y
9.62%
Canada, Bonds 3.5% 1dec2036, CAD
3.45%
Diversification
RGQR
Total weight of top 10 holdings out of 21 total
74.02%
ZFL
Total weight of top 10 holdings out of 8 total
100.00%
Characteristics
Compare
RGQR
ZFL
| Provider | RBC Global Asset Management | BMO |
| Management | Actively managed | Passively managed |
| Benchmark | - | FTSE TMX Canada Long Term Federal Bond TR Index - CAD |
| Replication Method | - | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.90% | 2.85% |
| Meets ESG criteria | No | No |
| Inception Date | April 21, 2023 | May 19, 2010 |
Frequently asked questions about RGQR and ZFL
Which ETF has performed better year to date: RGQR or ZFL?
As of November 11, 2026, RGQR has returned 1.21% year to date, while ZFL has returned -0.41%. RGQR is ahead on YTD performance.
Which ETF is larger by assets under management: RGQR or ZFL?
As of November 11, 2026, RGQR manages $101.46 M in assets, while ZFL manages $1.39 B. ZFL is the larger fund by AUM.
How are RGQR and ZFL managed?
RGQR is actively managed by RBC Global Asset Management. It does not track an index. ZFL is passively managed by BMO. It tracks the FTSE TMX Canada Long Term Federal Bond TR Index - CAD benchmark.
What sectors do RGQR and ZFL emphasize?
RGQR is most exposed to Municipal, Sovereign, and Finance. ZFL is most exposed to Sovereign.
Which ETF is attracting more investor flows: RGQR or ZFL?
Year to date, RGQR has seen +$37.28 M in net flows, compared with +$168.04 M for ZFL. ZFL has attracted more net investor money so far.
How do the fees of RGQR and ZFL compare?
RGQR has an expense ratio of 0.17%, while ZFL has an expense ratio of 0.22%.
What are the top holdings of RGQR and ZFL?
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. ZFL's top holdings include Canada, Bond 2 1jan2051 30Y, Canada, Bonds 3.5% 1dec2057, CAD, and Canada, Bonds 2.75% 1dec2055, CAD.
Which ETF is more diversified: RGQR or ZFL?
RGQR holds 21 securities, while ZFL holds 8. On holdings count, RGQR is the more diversified portfolio.
Recent articles about RGQR and ZFL
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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.