VS
RBC Target 2029 Canadian Corporate Bond Index ETF (RQR) and BMO Government Bond Index ETF (ZGB) 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 ZGB leans towards Sovereign, Municipal, and Government Agencies. When evaluating costs, RQR features a management fee (MER) of 0.2%, compared to 0.15% for ZGB. Performance-wise, RQR has returned 1.02% year-to-date with +$70 M in net flows, whereas ZGB is at 0.11% with -$198 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
ZGB
| AuM | $543.77 M | $1,244.47 M |
| Management Fees | 0.20% | 0.15% |
| Exp. ratio | 0.22% | 0.17% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 3, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | RQR | -0.36% | -0.00% | +1.02% | +2.41% | +19.46% |
ZGB | -1.27% | -1.64% | -0.11% | +1.23% | +11.47% | |
| Flows | RQR | +$9 M | +$39 M | +$70 M | +$121 M | +$523 M |
ZGB | -$6 M | -$5 M | -$198 M | -$198 M | +$185 M |
RQR vs ZGB exposure
Countries
RQR
Canada
99.99%
ZGB
Canada
100.00%
Sectors
RQR
Finance
62.36%
Energy
10.65%
Utilities
7.35%
Other
19.65%
ZGB
Sovereign
45.02%
Municipal
41.74%
Government Agencies
13.24%
As of September 3, 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%
ZGB
Canada, Bond 1.25 1jun2030 10Y
12.45%
Canada, Bonds 2% 1jun2032, CAD
6.22%
Canada, Bonds 1.5% 1dec2031 10Y
6.11%
Canada Housing Trust, 4.25% 15mar2034, CAD (118)
3.48%
Canada, Bonds 3.5% 1mar2028, CAD
3.37%
Canada, Bonds 2.5% 1dec2032, CAD
3.18%
CMHC, 1.75% 15jun2030, CAD (92)
3.16%
Province of Ontario, 2.15% 2jun2031, CAD (DMTN249)
3.16%
Canada, Bonds 2.75% 1dec2055, CAD
2.62%
Province of Ontario, 2.65% 2dec2050, CAD (DMTN242)
2.33%
Diversification
RQR
Total weight of top 10 holdings out of 51 total
41.67%
ZGB
Total weight of top 10 holdings out of 48 total
46.09%
Characteristics
Compare
RQR
ZGB
| Provider | RBC Global Asset Management | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada 2029 Maturity Corporate Bond Index - CAD | FTSE Canada All Government Bond TR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 4.13% | 3.15% |
| Meets ESG criteria | No | No |
| Inception Date | October 20, 2022 | March 7, 2018 |
Frequently asked questions about RQR and ZGB
Which ETF has performed better year to date: RQR or ZGB?
As of September 3, 2026, RQR has returned 1.02% year to date, while ZGB has returned -0.11%. RQR is ahead on YTD performance.
Which ETF is larger by assets under management: RQR or ZGB?
As of September 3, 2026, RQR manages $543.77 M in assets, while ZGB manages $1.24 B. ZGB is the larger fund by AUM.
How are RQR and ZGB managed?
RQR is passively managed by RBC Global Asset Management. It tracks the FTSE Canada 2029 Maturity Corporate Bond Index - CAD benchmark. ZGB is passively managed by BMO. It tracks the FTSE Canada All Government Bond TR Index - CAD benchmark.
What sectors do RQR and ZGB emphasize?
RQR is most exposed to Finance, Energy, and Utilities. ZGB is most exposed to Sovereign, Municipal, and Government Agencies.
Which ETF is attracting more investor flows: RQR or ZGB?
Year to date, RQR has seen +$70.20 M in net flows, compared with -$197.62 M for ZGB. RQR has attracted more net investor money so far.
How do the fees of RQR and ZGB compare?
RQR has an expense ratio of 0.22%, while ZGB has an expense ratio of 0.17%.
What are the top holdings of RQR and ZGB?
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. ZGB's top holdings include Canada, Bond 1.25 1jun2030 10Y, Canada, Bonds 2% 1jun2032, CAD, and Canada, Bonds 1.5% 1dec2031 10Y.
Which ETF is more diversified: RQR or ZGB?
RQR holds 51 securities, while ZGB holds 48. On holdings count, RQR is the more diversified portfolio.
Recent articles about RQR and ZGB
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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.