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TD Target 2026 Investment Grade Bond ETF (TBCF) and iShares Canadian Government Bond Index ETF (XGB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that TBCF focuses its top 3 sector exposures on Finance, Energy, and Telecommunications, while XGB leans towards Sovereign, Municipal, and Government Agencies. When evaluating costs, TBCF features a management fee (MER) of 0.2%, compared to 0.12% for XGB. Performance-wise, TBCF has returned 2.02% year-to-date with -$55 M in net flows, whereas XGB is at 0.72% with -$212 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
TBCF
XGB
| AuM | $93.70 M | $1,594.13 M |
| Management Fees | 0.20% | 0.12% |
| Exp. ratio | 0.23% | 0.13% |
| Tracking Difference | - | - |
Historical performance and flows
As of October 19, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | TBCF | +0.21% | +0.66% | +2.02% | +2.49% | - |
XGB | -0.48% | -1.66% | -0.72% | -2.14% | +14.00% | |
| Flows | TBCF | -$3 M | -$38 M | -$55 M | -$38 M | - |
XGB | -$65 M | -$36 M | -$212 M | -$119 M | +$681 M |
TBCF vs XGB exposure
Countries
TBCF
Canada
99.19%
XGB
Canada
99.18%
Sectors
TBCF
Finance
72.42%
Energy
13.35%
Telecommunications
7.13%
Other
7.10%
XGB
Sovereign
44.40%
Municipal
38.41%
Government Agencies
9.61%
Other
7.58%
As of October 19, 2026
Top 10 Holdings
TBCF
Sun Life Financial, 2.46% 18nov2031, CAD (2021-1)
9.49%
Bank of Nova Scotia, 1.85% 2nov2026, CAD
9.47%
Suncor Energy, 5.4% 17nov2026, CAD (10)
9.27%
Royal Bank of Canada, 2.14% 3nov2031, CAD (24)
7.77%
iA Financial Corporation, 3.072% 24sep2031, CAD
7.77%
Ford Credit Canada Co, 6.326% 10nov2026, CAD
7.40%
Rogers Communications, 5.65% 21sep2026, CAD
7.13%
National Bank of Canada, 3.637% 7oct2027, CAD
5.21%
Federation des caisses Desjardins du Quebec, 1.587% 10sep2026, CAD
5.08%
Lower Mattagami Energy, 2.307% 21oct2026, CAD
4.57%
XGB
Canada, Bonds 2.75% 1sep2030, CAD
2.01%
Canada, Bonds 3.25% 1jun2036, CAD
2.00%
Canada, Bonds 2.75% 1mar2031, CAD
1.99%
Canada, Bonds 3.25% 1dec2035, CAD
1.98%
Canada, Bonds 3.25% 1jun2035, CAD
1.81%
Canada, Bonds 3% 1jun2034, CAD
1.57%
Canada, Bonds 3% 1sep2031, CAD
1.55%
Canada, Bonds 2.75% 1mar2030, CAD
1.55%
Canada, Bonds 3.5% 1sep2029, CAD
1.51%
Canada, Bonds 3.5% 1dec2057, CAD
1.50%
Diversification
TBCF
Total weight of top 10 holdings out of 20 total
73.15%
XGB
Total weight of top 10 holdings out of 550 total
17.48%
Characteristics
Compare
TBCF
XGB
| Provider | TD Asset Management | iShares |
| Management | Actively managed | Passively managed |
| Benchmark | - | FTSE Canada All Government Bond TR Index - CAD |
| Replication Method | - | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.12% | 3.23% |
| Meets ESG criteria | No | No |
| Inception Date | April 9, 2024 | November 6, 2006 |
Frequently asked questions about TBCF and XGB
Which ETF has performed better year to date: TBCF or XGB?
As of October 19, 2026, TBCF has returned 2.02% year to date, while XGB has returned -0.72%. TBCF is ahead on YTD performance.
Which ETF is larger by assets under management: TBCF or XGB?
As of October 19, 2026, TBCF manages $93.70 M in assets, while XGB manages $1.59 B. XGB is the larger fund by AUM.
How are TBCF and XGB managed?
TBCF is actively managed by TD Asset Management. It does not track an index. XGB is passively managed by iShares. It tracks the FTSE Canada All Government Bond TR Index - CAD benchmark.
What sectors do TBCF and XGB emphasize?
TBCF is most exposed to Finance, Energy, and Telecommunications. XGB is most exposed to Sovereign, Municipal, and Government Agencies.
Which ETF is attracting more investor flows: TBCF or XGB?
Year to date, TBCF has seen -$54.70 M in net flows, compared with -$212.49 M for XGB. TBCF has attracted more net investor money so far.
How do the fees of TBCF and XGB compare?
TBCF has an expense ratio of 0.23%, while XGB has an expense ratio of 0.13%.
What are the top holdings of TBCF and XGB?
TBCF's largest holdings include Sun Life Financial, 2.46% 18nov2031, CAD (2021-1), Bank of Nova Scotia, 1.85% 2nov2026, CAD, and Suncor Energy, 5.4% 17nov2026, CAD (10). XGB's top holdings include Canada, Bonds 2.75% 1sep2030, CAD, Canada, Bonds 3.25% 1jun2036, CAD, and Canada, Bonds 2.75% 1mar2031, CAD.
Which ETF is more diversified: TBCF or XGB?
TBCF holds 20 securities, while XGB holds 549. On holdings count, XGB is the more diversified portfolio.
Recent articles about TBCF and XGB
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