VS
RBC Target 2028 Canadian Corporate Bond Index ETF (RQQ) and BMO Discount Bond Index ETF (ZDB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that RQQ focuses its top 3 sector exposures on Finance, Utilities, and Energy, while ZDB leans towards Sovereign, Municipal, and Finance. When evaluating costs, RQQ features a management fee (MER) of 0.2%, compared to 0.09% for ZDB. Performance-wise, RQQ has returned 1.07% year-to-date with +$144 M in net flows, whereas ZDB is at 1.05% with +$249 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
RQQ
ZDB
| AuM | $785.62 M | $1,369.59 M |
| Management Fees | 0.20% | 0.09% |
| Exp. ratio | 0.22% | 0.10% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | RQQ | -0.23% | -0.05% | +1.07% | +1.86% | +19.36% |
ZDB | -1.15% | -2.56% | -1.05% | -1.30% | +11.99% | |
| Flows | RQQ | +$32 M | +$120 M | +$144 M | +$191 M | +$646 M |
ZDB | +$52 M | +$108 M | +$249 M | +$585 M | +$526 M |
RQQ vs ZDB exposure
Countries
RQQ
Canada
99.99%
ZDB
Canada
100.00%
Sectors
RQQ
Finance
68.44%
Utilities
8.54%
Energy
7.08%
Other
15.94%
ZDB
Sovereign
33.15%
Municipal
31.50%
Finance
11.53%
Government Agencies
9.96%
Other
13.86%
As of September 11, 2026
Top 10 Holdings
RQQ
National Bank of Canada, 5.219% 14jun2028, CAD
6.11%
Bank of Montreal, 5.039% 29may2028, CAD
4.92%
Bank of Nova Scotia, 3.1% 2feb2028, CAD
4.85%
Federation des caisses Desjardins du Quebec, 5.467% 17nov2028, CAD
4.77%
CIBC, 5.5% 14jan2028, CAD
4.72%
Manulife Financial Corporation, 5.409% 10mar2033, CAD
4.53%
Rogers Communications, 5.7% 21sep2028, CAD
3.82%
Sun Life Financial, 2.8% 21nov2033, CAD (2021-2)
3.60%
Royal Bank of Canada, 4.642% 17jan2028, CAD
3.49%
National Bank of Canada, 3.522% 17jul2029, CAD
3.38%
ZDB
Canada, Bond 0.5 1oct2030 10Y
18.46%
CMHC, 1.9% 15mar2031, CAD (100)
6.90%
Province of Quebec, 1.5% 1sep2031, CAD (B128)
5.47%
Canada, Bonds 2.25% 1dec2029, CAD
5.20%
Province of Ontario, 2.65% 2dec2050, CAD (DMTN242)
5.12%
Province of Ontario, 2.05% 2jun2030, CAD (DMTN243)
5.10%
Sun Life Financial, 2.06% 1oct2035, CAD (2020-2)
5.00%
Toronto-Dominion Bank, 1.896% 11sep2028, CAD
3.90%
Canada, Bonds 2% 1jun2032, CAD
3.11%
Pembina Pipeline Corporation, 3.31% 1feb2030, CAD (15)
2.63%
Diversification
RQQ
Total weight of top 10 holdings out of 40 total
44.19%
ZDB
Total weight of top 10 holdings out of 48 total
60.88%
Characteristics
Compare
RQQ
ZDB
| Provider | RBC Global Asset Management | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada 2028 Maturity Corporate Bond Index - CAD | FTSE Canada Universe Discount Bond Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 4.14% | 1.90% |
| Meets ESG criteria | No | No |
| Inception Date | October 20, 2022 | February 10, 2014 |
Frequently asked questions about RQQ and ZDB
Which ETF has performed better year to date: RQQ or ZDB?
As of September 11, 2026, RQQ has returned 1.07% year to date, while ZDB has returned -1.05%. RQQ is ahead on YTD performance.
Which ETF is larger by assets under management: RQQ or ZDB?
As of September 11, 2026, RQQ manages $785.62 M in assets, while ZDB manages $1.37 B. ZDB is the larger fund by AUM.
How are RQQ and ZDB managed?
RQQ is passively managed by RBC Global Asset Management. It tracks the FTSE Canada 2028 Maturity Corporate Bond Index - CAD benchmark. ZDB is passively managed by BMO. It tracks the FTSE Canada Universe Discount Bond Index - CAD benchmark.
What sectors do RQQ and ZDB emphasize?
RQQ is most exposed to Finance, Utilities, and Energy. ZDB is most exposed to Sovereign, Municipal, and Finance.
Which ETF is attracting more investor flows: RQQ or ZDB?
Year to date, RQQ has seen +$144.34 M in net flows, compared with +$248.56 M for ZDB. ZDB has attracted more net investor money so far.
How do the fees of RQQ and ZDB compare?
RQQ has an expense ratio of 0.22%, while ZDB has an expense ratio of 0.10%.
What are the top holdings of RQQ and ZDB?
RQQ's largest holdings include National Bank of Canada, 5.219% 14jun2028, CAD, Bank of Montreal, 5.039% 29may2028, CAD, and Bank of Nova Scotia, 3.1% 2feb2028, CAD. ZDB's top holdings include Canada, Bond 0.5 1oct2030 10Y, CMHC, 1.9% 15mar2031, CAD (100), and Province of Quebec, 1.5% 1sep2031, CAD (B128).
Which ETF is more diversified: RQQ or ZDB?
RQQ holds 40 securities, while ZDB holds 48. On holdings count, ZDB is the more diversified portfolio.
Recent articles about RQQ 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.