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Compare RBC Target 2032 Canadian Government Bond ETF (RGQU) vs BMO Short Federal Bond Index ETF (ZFS) to find the best fit for your portfolio. RGQU provides Sovereign, Municipal, and Government Agencies exposures, while ZFS is primarily weighted in Sovereign and Government Agencies. When evaluating costs, RGQU features a management fee (MER) of 0.15%, compared to 0.2% for ZFS. 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
RGQU
ZFS
| AuM | $1.98 M | $961.53 M |
| Management Fees | 0.15% | 0.20% |
| Exp. ratio | 0.15% | 0.21% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 3, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | RGQU | -1.03% | -0.90% | - | - | - |
ZFS | -0.46% | -0.16% | +0.61% | +1.44% | +11.98% | |
| Flows | RGQU | +$0 M | +$0 M | - | - | - |
ZFS | +$62 M | +$123 M | +$608 M | +$508 M | -$67 M |
RGQU vs ZFS exposure
Countries
RGQU
Canada
99.92%
ZFS
Canada
100.00%
Sectors
RGQU
Sovereign
43.37%
Municipal
35.56%
Government Agencies
11.10%
Finance
7.39%
ZFS
Sovereign
74.18%
Government Agencies
25.82%
As of September 3, 2026
Top 10 Holdings
RGQU
Canada, Bonds 2% 1jun2032, CAD
20.94%
Canada, Bonds 2.5% 1dec2032, CAD
19.44%
Canada Housing Trust, 3.55% 15sep2032, CAD (107)
11.10%
Province of Ontario, 3.75% 2jun2032, CAD (DMTN254)
10.06%
Province of Quebec, 3.25% 1sep2032, CAD (B131)
9.02%
CPPIB Capital, 3.95% 2jun2032, CAD (55)
4.95%
Province of Quebec, 3.65% 20may2032, CAD (B132)
3.86%
Province of Ontario, 4.05% 2feb2032, CAD (DMTN257)
3.01%
Canada, Bonds 3% 1mar2032, CAD (C)
2.98%
Hydro-Quebec, 3.55% 1sep2032, CAD (0091)
2.51%
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
RGQU
Total weight of top 10 holdings out of 17 total
87.88%
ZFS
Total weight of top 10 holdings out of 24 total
71.81%
Characteristics
Compare
RGQU
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 | - | 2.56% |
| Meets ESG criteria | No | No |
| Inception Date | March 25, 2026 | October 20, 2009 |
Frequently asked questions about RGQU and ZFS
Which ETF is larger by assets under management: RGQU or ZFS?
As of September 3, 2026, RGQU manages $1.98 M in assets, while ZFS manages $961.53 M. ZFS is the larger fund by AUM.
How are RGQU and ZFS managed?
RGQU 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 RGQU and ZFS emphasize?
RGQU is most exposed to Sovereign, Municipal, and Government Agencies. ZFS is most exposed to Sovereign and Government Agencies.
How do the fees of RGQU and ZFS compare?
RGQU has an expense ratio of 0.15%, while ZFS has an expense ratio of 0.21%.
What are the top holdings of RGQU and ZFS?
RGQU's largest holdings include Canada, Bonds 2% 1jun2032, CAD, Canada, Bonds 2.5% 1dec2032, CAD, and Canada Housing Trust, 3.55% 15sep2032, CAD (107). 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: RGQU or ZFS?
RGQU holds 17 securities, while ZFS holds 24. On holdings count, ZFS is the more diversified portfolio.
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