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Compare RBC Target 2030 Canadian Government Bond ETF (RGQS) vs BMO Short Federal Bond Index ETF (ZFS) to find the best fit for your portfolio. RGQS provides Municipal, Sovereign, and Government Agencies exposures, while ZFS is primarily weighted in Sovereign and Government Agencies. When evaluating costs, RGQS features a management fee (MER) of 0.15%, compared to 0.2% for ZFS. Performance-wise, RGQS has returned 0.5% year-to-date with +$14 M in net flows, whereas ZFS is at 0.61% with +$608 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
ZFS
| AuM | $112.48 M | $961.53 M |
| Management Fees | 0.15% | 0.20% |
| Exp. ratio | 0.17% | 0.21% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 3, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | RGQS | -0.66% | -0.42% | +0.50% | +1.40% | - |
ZFS | -0.46% | -0.16% | +0.61% | +1.44% | +11.98% | |
| Flows | RGQS | +$6 M | +$1 M | +$14 M | +$38 M | - |
ZFS | +$62 M | +$123 M | +$608 M | +$508 M | -$67 M |
RGQS vs ZFS exposure
Countries
RGQS
Canada
99.71%
ZFS
Canada
100.00%
Sectors
RGQS
Municipal
47.01%
Sovereign
38.18%
Government Agencies
9.54%
ZFS
Sovereign
74.18%
Government Agencies
25.82%
As of September 3, 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%
ZFS
Canada, Bonds 2.75% 1sep2030, CAD
10.71%
Canada, Bonds 3.25% 1sep2028, CAD
8.77%
Canada, Bonds 2.75% 1mar2031, CAD
8.54%
Canada, Bonds 4% 1mar2029, CAD
8.18%
Canada, Bonds 2.75% 1mar2030, CAD
7.88%
Canada, Bonds 3.5% 1sep2029, CAD
7.35%
Canada, Bond 1.25 1jun2030 10Y
6.09%
Canada, Bonds 2.25% 1feb2028, CAD
5.76%
Canada, Bonds 3.5% 1mar2028, CAD
4.40%
CMHC, 1.75% 15jun2030, CAD (92)
4.13%
Diversification
RGQS
Total weight of top 10 holdings out of 19 total
84.29%
ZFS
Total weight of top 10 holdings out of 24 total
71.81%
Characteristics
Compare
RGQS
ZFS
| Provider | RBC Global Asset Management | BMO |
| Management | Actively managed | Passively managed |
| Benchmark | - | FTSE TMX Canada Short Term Federal Bond Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.90% | 2.56% |
| Meets ESG criteria | No | No |
| Inception Date | April 24, 2024 | October 20, 2009 |
Frequently asked questions about RGQS and ZFS
Which ETF has performed better year to date: RGQS or ZFS?
As of September 3, 2026, RGQS has returned 0.50% year to date, while ZFS has returned 0.61%. ZFS is ahead on YTD performance.
Which ETF is larger by assets under management: RGQS or ZFS?
As of September 3, 2026, RGQS manages $112.48 M in assets, while ZFS manages $961.53 M. ZFS is the larger fund by AUM.
How are RGQS and ZFS managed?
RGQS is actively managed by RBC Global Asset Management. It does not track an index. ZFS is passively managed by BMO. It tracks the FTSE TMX Canada Short Term Federal Bond Index - CAD benchmark.
What sectors do RGQS and ZFS emphasize?
RGQS is most exposed to Municipal, Sovereign, and Government Agencies. ZFS is most exposed to Sovereign and Government Agencies.
Which ETF is attracting more investor flows: RGQS or ZFS?
Year to date, RGQS has seen +$13.83 M in net flows, compared with +$608.11 M for ZFS. ZFS has attracted more net investor money so far.
How do the fees of RGQS and ZFS compare?
RGQS has an expense ratio of 0.17%, while ZFS has an expense ratio of 0.21%.
What are the top holdings of RGQS and ZFS?
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). ZFS's top holdings include Canada, Bonds 2.75% 1sep2030, CAD, Canada, Bonds 3.25% 1sep2028, CAD, and Canada, Bonds 2.75% 1mar2031, CAD.
Which ETF is more diversified: RGQS or ZFS?
RGQS holds 19 securities, while ZFS holds 24. On holdings count, ZFS is the more diversified portfolio.
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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.