Compare TD Conservative ETF Portfolio (TCON) vs BMO Conservative ETF (ZCON) to find the best fit for your portfolio. TCON and ZCON provide the same top sector exposures: Sovereign, Finance, and Municipal. When evaluating costs, TCON features a management fee (MER) of 0.27%, compared to 0.18% for ZCON. Performance-wise, TCON has returned 5.99% year-to-date with +$52 M in net flows, whereas ZCON is at 5.6% with +$47 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
TCON
ZCON
| AuM | $137.85 M | $129.54 M |
| Management Fees | 0.27% | 0.18% |
| Exp. ratio | 0.17% | 0.20% |
| Tracking Difference | - | - |
Historical performance and flows
As of October 16, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | TCON | +1.31% | +0.38% | +5.99% | +6.12% | +38.16% |
ZCON | +0.92% | -0.16% | +5.60% | +5.78% | +38.61% | |
| Flows | TCON | +$3 M | +$10 M | +$52 M | +$66 M | +$110 M |
ZCON | +$10 M | +$22 M | +$47 M | +$56 M | +$78 M |
TCON vs ZCON exposure
Countries
TCON
Canada
72.71%
USA
16.17%
Other
11.12%
ZCON
Canada
51.72%
USA
33.11%
Other
15.18%
Sectors
TCON
Sovereign
21.29%
Finance
17.74%
Municipal
16.50%
Technology
8.83%
Other
35.64%
ZCON
Sovereign
22.24%
Finance
16.46%
Municipal
13.04%
Technology
11.92%
Other
36.34%
As of October 16, 2026
Top 10 Holdings
TCON
NVIDIA Corp.
1.15%
Royal Bank of Canada
1.13%
Apple, Inc.
1.02%
Canada, Bonds 3.25% 1dec2035, CAD
0.94%
Canada, Bonds 2.75% 1sep2030, CAD
0.89%
Canada, Bond 1.5 1jun2031 10Y
0.86%
Microsoft Corp.
0.83%
Canada, Bonds 1.5% 1dec2031 10Y
0.80%
Canada, Bonds 2.75% 1mar2031, CAD
0.80%
The Toronto-Dominion Bank
0.79%
ZCON
Canada, Bond 0.5 1oct2030 10Y
7.67%
CMHC, 1.9% 15mar2031, CAD (100)
2.60%
Sun Life Financial, 2.06% 1oct2035, CAD (2020-2)
2.34%
Province of Quebec, 1.5% 1sep2031, CAD (B128)
2.27%
Province of Ontario, 2.05% 2jun2030, CAD (DMTN243)
2.12%
Province of Ontario, 2.65% 2dec2050, CAD (DMTN242)
2.09%
Canada, Bonds 2.25% 1dec2029, CAD
1.89%
NVIDIA Corp.
1.48%
Toronto-Dominion Bank, 1.896% 11sep2028, CAD
1.35%
Apple, Inc.
1.32%
Diversification
TCON
Total weight of top 10 holdings out of 3,314 total
9.23%
ZCON
Total weight of top 10 holdings out of 19,935 total
25.13%
Characteristics
Compare
TCON
ZCON
| Provider | TD Asset Management | BMO |
| Management | Actively managed | Actively managed |
| Benchmark | - | - |
| Replication Method | - | - |
| Asset Class | Equity, Fixed Income | Equity, Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.08% | 1.77% |
| Meets ESG criteria | No | No |
| Inception Date | August 18, 2020 | February 15, 2019 |
Frequently asked questions about TCON and ZCON
Which ETF has performed better year to date: TCON or ZCON?
As of October 16, 2026, TCON has returned 5.99% year to date, while ZCON has returned 5.60%. TCON is ahead on YTD performance.
Which ETF is larger by assets under management: TCON or ZCON?
As of October 16, 2026, TCON manages $137.85 M in assets, while ZCON manages $129.54 M. TCON is the larger fund by AUM.
How are TCON and ZCON managed?
TCON is actively managed by TD Asset Management. It does not track an index. ZCON is actively managed by BMO. It does not track an index.
What sectors do TCON and ZCON emphasize?
TCON is most exposed to Sovereign, Finance, and Municipal. ZCON is most exposed to Sovereign, Finance, and Municipal.
Which ETF is attracting more investor flows: TCON or ZCON?
Year to date, TCON has seen +$51.97 M in net flows, compared with +$47.05 M for ZCON. TCON has attracted more net investor money so far.
How do the fees of TCON and ZCON compare?
TCON has an expense ratio of 0.17%, while ZCON has an expense ratio of 0.20%.
What are the top holdings of TCON and ZCON?
TCON's largest holdings include NVIDIA Corp., Royal Bank of Canada, and Apple, Inc.. ZCON's top holdings include Canada, Bond 0.5 1oct2030 10Y and CMHC, 1.9% 15mar2031, CAD (100).
Which ETF is more diversified: TCON or ZCON?
TCON holds 3271 securities, while ZCON holds 11677. On holdings count, ZCON is the more diversified portfolio.
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