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Compare RBC Target 2030 Canadian Government Bond ETF (RGQS) vs BMO Long Federal Bond Index ETF (ZFL) to find the best fit for your portfolio. RGQS provides Municipal, Sovereign, and Government Agencies exposures, while ZFL is primarily weighted in Sovereign. When evaluating costs, RGQS features a management fee (MER) of 0.15%, compared to 0.2% for ZFL. Performance-wise, RGQS has returned 0.62% year-to-date with +$14 M in net flows, whereas ZFL is at 2.61% with +$97 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
RGQS
ZFL
| AuM | $112.62 M | $1,294.76 M |
| Management Fees | 0.15% | 0.20% |
| Exp. ratio | 0.17% | 0.22% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 4, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | RGQS | -0.53% | -0.32% | +0.62% | +1.39% | - |
ZFL | -2.69% | -4.71% | -2.61% | -2.38% | +0.14% | |
| Flows | RGQS | +$6 M | +$1 M | +$14 M | +$37 M | - |
ZFL | +$36 M | +$60 M | +$97 M | -$2,347 M | -$1,130 M |
RGQS vs ZFL exposure
Countries
RGQS
Canada
99.71%
ZFL
Canada
100.00%
Sectors
RGQS
Municipal
47.01%
Sovereign
38.18%
Government Agencies
9.54%
ZFL
Sovereign
100.00%
As of September 4, 2026
Top 10 Holdings
RGQS
Canada, Bond 0.5 1oct2030 10Y
11.71%
Canada, Bonds 2.75% 1mar2030, CAD
10.50%
Province of Quebec, 1.9% 1sep2030, CAD (B127)
9.94%
CMHC, 1.75% 15jun2030, CAD (92)
9.54%
Canada, Bonds 2.75% 1sep2030, CAD
8.89%
Alberta, 2.05% 1jun2030, CAD
7.58%
Canada, Bond 1.25 1jun2030 10Y
7.08%
Province of Ontario, 1.35% 2dec2030, CAD (DMTN248)
6.93%
Province of Ontario, 2.05% 2jun2030, CAD (DMTN243)
6.20%
British Columbia, 2.2% 18jun2030, CAD (BCCD-40)
5.92%
ZFL
Canada, Bonds 3.5% 1dec2057, CAD
22.02%
Canada, Bond 2 1jan2051 30Y
20.08%
Canada, Bonds 2.75% 1dec2055, CAD
14.90%
Canada, Bond 3.5 1dec2045 30Y
14.77%
Canada, Bond 2.75 1dec2048 30Y
11.40%
Canada, Bond 1.75 1dec2053 30Y
9.75%
Canada, Bond 4 1jun2041 30Y
7.08%
Diversification
RGQS
Total weight of top 10 holdings out of 19 total
84.29%
ZFL
Total weight of top 10 holdings out of 7 total
100.00%
Characteristics
Compare
RGQS
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 | 1.89% | 2.95% |
| Meets ESG criteria | No | No |
| Inception Date | April 24, 2024 | May 19, 2010 |
Frequently asked questions about RGQS and ZFL
Which ETF has performed better year to date: RGQS or ZFL?
As of September 4, 2026, RGQS has returned 0.62% year to date, while ZFL has returned -2.61%. RGQS is ahead on YTD performance.
Which ETF is larger by assets under management: RGQS or ZFL?
As of September 4, 2026, RGQS manages $112.62 M in assets, while ZFL manages $1.29 B. ZFL is the larger fund by AUM.
How are RGQS and ZFL managed?
RGQS 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 RGQS and ZFL emphasize?
RGQS is most exposed to Municipal, Sovereign, and Government Agencies. ZFL is most exposed to Sovereign.
Which ETF is attracting more investor flows: RGQS or ZFL?
Year to date, RGQS has seen +$13.83 M in net flows, compared with +$97.35 M for ZFL. ZFL has attracted more net investor money so far.
How do the fees of RGQS and ZFL compare?
RGQS has an expense ratio of 0.17%, while ZFL has an expense ratio of 0.22%.
What are the top holdings of RGQS and ZFL?
RGQS's largest holdings include Canada, Bond 0.5 1oct2030 10Y, Canada, Bonds 2.75% 1mar2030, CAD, and Province of Quebec, 1.9% 1sep2030, CAD (B127). ZFL's top holdings include Canada, Bonds 3.5% 1dec2057, CAD, Canada, Bond 2 1jan2051 30Y, and Canada, Bonds 2.75% 1dec2055, CAD.
Which ETF is more diversified: RGQS or ZFL?
RGQS holds 19 securities, while ZFL holds 7. On holdings count, RGQS is the more diversified portfolio.
Recent articles about RGQS and ZFL
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