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TD Target 2028 Investment Grade Bond ETF (TBCH) and First Asset Enhanced Short Duration Bond ETF (FSB.U) offer distinct profiles for Canadian ETF investors. A direct comparison shows that TBCH focuses its top 3 sector exposures on Finance, Telecommunications, and Utilities, while FSB.U leans towards Finance, Sovereign, and Industrials. When evaluating costs, TBCH features a management fee (MER) of 0.2%, compared to 0.6% for FSB.U. Performance-wise, TBCH has returned 1.32% year-to-date with +$65 M in net flows, whereas FSB.U is at 2.19% with +$1 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
TBCH
FSB.U
| AuM | $126.98 M | $8.09 M |
| Management Fees | 0.20% | 0.60% |
| Exp. ratio | 0.22% | 0.73% |
| Tracking Difference | - | - |
Historical performance and flows
As of October 28, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | TBCH | +0.18% | +0.03% | +1.32% | +1.08% | - |
FSB.U | +0.26% | +0.03% | +2.19% | +2.61% | +16.50% | |
| Flows | TBCH | +$8 M | +$42 M | +$65 M | +$71 M | - |
FSB.U | +$0 M | -$1 M | +$1 M | -$0 M | -$13 M |
TBCH vs FSB.U exposure
Countries
TBCH
Canada
70.96%
USA
28.63%
FSB.U
Canada
53.80%
USA
24.66%
Other
19.48%
Sectors
TBCH
Finance
53.90%
Telecommunications
14.97%
Utilities
12.04%
Other
19.10%
FSB.U
Finance
22.29%
Other
19.48%
Sovereign
15.62%
Industrials
10.91%
Other
31.70%
As of October 28, 2026
Top 10 Holdings
TBCH
Sun Life Financial, 2.8% 21nov2033, CAD (2021-2)
7.42%
Toronto-Dominion Bank, 1.896% 11sep2028, CAD
6.42%
Royal Bank of Canada, 1.67% 28jan2033, CAD (23)
6.38%
Fortis Inc, 2.18% 15may2028, CAD
6.10%
Goldman Sachs, 2.013% 28feb2029, CAD
6.10%
Athene Global Funding, 2.47% 9jun2028, CAD (2021-14)
6.10%
New York Life Global Funding, 2% 17apr2028, CAD (2021-6)
6.04%
MetLife Global Funding I, 1.95% 20mar2028, CAD (2021-6)
6.04%
Bell Canada, 2.2% 29may2028, CAD (M-56)
5.85%
Bruce Power, 2.68% 21dec2028, CAD (2021-1)
5.82%
FSB.U
Canada, Bonds 2.75% 1mar2030, CAD
4.11%
Canada, Bonds 3.5% 1sep2029, CAD
3.47%
Canada, Bonds 2.5% 1may2028, CAD
2.34%
CA292976WK96
1.95%
Canada, Bonds 3.25% 1dec2035, CAD
1.93%
CA292976WB97
1.88%
Viking Cruises Ltd, 5% 15feb2028, USD
1.64%
Carnival Corp, 4% 1aug2028, USD
1.59%
Toronto-Dominion Bank, 4.21% 1jun2027, CAD
1.32%
Toronto-Dominion Bank, 5.376% 21oct2027, CAD
1.22%
Diversification
TBCH
Total weight of top 10 holdings out of 25 total
62.25%
FSB.U
Total weight of top 10 holdings out of 204 total
21.45%
Characteristics
Compare
TBCH
FSB.U
| Provider | TD Asset Management | CI |
| Management | Actively managed | Actively managed |
| Benchmark | - | - |
| Replication Method | - | - |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.78% | 3.85% |
| Meets ESG criteria | No | No |
| Inception Date | January 14, 2025 | October 2, 2017 |
Frequently asked questions about TBCH and FSB.U
Which ETF has performed better year to date: TBCH or FSB.U?
As of October 28, 2026, TBCH has returned 1.32% year to date, while FSB.U has returned 2.19%. FSB.U is ahead on YTD performance.
Which ETF is larger by assets under management: TBCH or FSB.U?
As of October 28, 2026, TBCH manages $126.98 M in assets, while FSB.U manages $8.09 M. TBCH is the larger fund by AUM.
How are TBCH and FSB.U managed?
TBCH is actively managed by TD Asset Management. It does not track an index. FSB.U is actively managed by CI. It does not track an index.
What sectors do TBCH and FSB.U emphasize?
TBCH is most exposed to Finance, Telecommunications, and Utilities. FSB.U is most exposed to Finance, Sovereign, and Industrials.
Which ETF is attracting more investor flows: TBCH or FSB.U?
Year to date, TBCH has seen +$64.71 M in net flows, compared with +$1.26 M for FSB.U. TBCH has attracted more net investor money so far.
How do the fees of TBCH and FSB.U compare?
TBCH has an expense ratio of 0.22%, while FSB.U has an expense ratio of 0.73%.
What are the top holdings of TBCH and FSB.U?
TBCH's largest holdings include Sun Life Financial, 2.8% 21nov2033, CAD (2021-2), Toronto-Dominion Bank, 1.896% 11sep2028, CAD, and Royal Bank of Canada, 1.67% 28jan2033, CAD (23). FSB.U's top holdings include Canada, Bonds 2.75% 1mar2030, CAD and Canada, Bonds 3.5% 1sep2029, CAD.
Which ETF is more diversified: TBCH or FSB.U?
TBCH holds 25 securities, while FSB.U holds 196. On holdings count, FSB.U is the more diversified portfolio.
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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.