VS
RBC Target 2029 Canadian Corporate Bond Index ETF (RQR) and BMO Discount Bond Index ETF (ZDB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that RQR focuses its top 3 sector exposures on Finance, Energy, and Utilities, while ZDB leans towards Sovereign, Municipal, and Finance. When evaluating costs, RQR features a management fee (MER) of 0.2%, compared to 0.09% for ZDB. Performance-wise, RQR has returned 1.13% year-to-date with +$70 M in net flows, whereas ZDB is at 0.04% with +$245 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
RQR
ZDB
| AuM | $544.38 M | $1,380.85 M |
| Management Fees | 0.20% | 0.09% |
| Exp. ratio | 0.22% | 0.10% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 4, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | RQR | -0.25% | +0.07% | +1.13% | +2.42% | +19.59% |
ZDB | -1.00% | -1.44% | +0.04% | +1.14% | +13.23% | |
| Flows | RQR | +$9 M | +$39 M | +$70 M | +$120 M | +$523 M |
ZDB | +$52 M | +$118 M | +$245 M | +$583 M | +$523 M |
RQR vs ZDB exposure
Countries
RQR
Canada
99.99%
ZDB
Canada
100.00%
Sectors
RQR
Finance
62.36%
Energy
10.65%
Utilities
7.35%
Other
19.65%
ZDB
Sovereign
33.15%
Municipal
31.50%
Finance
11.53%
Government Agencies
9.96%
Other
13.86%
As of September 4, 2026
Top 10 Holdings
RQR
Bank of Montreal, 4.42% 17jul2029, CAD
5.96%
CIBC, 3.8% 10dec2030, CAD
5.10%
National Bank of Canada, 5.023% 1feb2029, CAD
4.53%
RBC Capital Markets, 4% 17oct2030, CAD
4.41%
Toronto-Dominion Bank, 4.002% 31oct2030, CAD
4.05%
Bank of Nova Scotia, 4.68% 1feb2029, CAD
3.92%
Federation des caisses Desjardins du Quebec, 3.804% 24sep2029, CAD
3.66%
Toronto-Dominion Bank, 4.68% 8jan2029, CAD
3.40%
Bank of Nova Scotia, 3.836% 26sep2030, CAD
3.34%
Manulife Financial Corporation, 5.054% 23feb2034, CAD
3.31%
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
RQR
Total weight of top 10 holdings out of 51 total
41.67%
ZDB
Total weight of top 10 holdings out of 48 total
60.88%
Characteristics
Compare
RQR
ZDB
| Provider | RBC Global Asset Management | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada 2029 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 | 4.13% | 1.88% |
| Meets ESG criteria | No | No |
| Inception Date | October 20, 2022 | February 10, 2014 |
Frequently asked questions about RQR and ZDB
Which ETF has performed better year to date: RQR or ZDB?
As of September 4, 2026, RQR has returned 1.13% year to date, while ZDB has returned 0.04%. RQR is ahead on YTD performance.
Which ETF is larger by assets under management: RQR or ZDB?
As of September 4, 2026, RQR manages $544.38 M in assets, while ZDB manages $1.38 B. ZDB is the larger fund by AUM.
How are RQR and ZDB managed?
RQR is passively managed by RBC Global Asset Management. It tracks the FTSE Canada 2029 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 RQR and ZDB emphasize?
RQR is most exposed to Finance, Energy, and Utilities. ZDB is most exposed to Sovereign, Municipal, and Finance.
Which ETF is attracting more investor flows: RQR or ZDB?
Year to date, RQR has seen +$70.20 M in net flows, compared with +$244.84 M for ZDB. ZDB has attracted more net investor money so far.
How do the fees of RQR and ZDB compare?
RQR has an expense ratio of 0.22%, while ZDB has an expense ratio of 0.10%.
What are the top holdings of RQR and ZDB?
RQR's largest holdings include Bank of Montreal, 4.42% 17jul2029, CAD, CIBC, 3.8% 10dec2030, CAD, and National Bank of Canada, 5.023% 1feb2029, 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: RQR or ZDB?
RQR holds 51 securities, while ZDB holds 48. On holdings count, RQR is the more diversified portfolio.
Recent articles about RQR 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.