VS
Compare iShares Canadian Corporate Bond Index ETF (XCB) vs BMO Short Corporate Bond Index ETF (ZCS) to find the best fit for your portfolio. XCB provides Banks, Power, and Pipelines exposures, while ZCS is primarily weighted in Banks, Pipelines, and Communication services. When evaluating costs, XCB features a management fee (MER) of 0.15%, compared to 0.1% for ZCS. Performance-wise, XCB has returned 0.92% year-to-date with +$419 M in net flows, whereas ZCS is at 0.75% with -$135 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
XCB
ZCS
| AuM | $3,212.36 M | $4,184.50 M |
| Management Fees | 0.15% | 0.10% |
| Exp. ratio | 0.17% | 0.11% |
| Tracking Difference | - | - |
Historical performance and flows
As of April 24, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XCB | +1.52% | +0.03% | +0.92% | +4.74% | +17.65% |
ZCS | +1.02% | +0.25% | +0.75% | +4.22% | +17.65% | |
| Flows | XCB | +$96 M | +$354 M | +$419 M | +$1,082 M | +$1,406 M |
ZCS | +$85 M | -$35 M | -$135 M | +$129 M | +$2,831 M |
XCB vs ZCS exposure
Countries
XCB
Canada
99.13%
ZCS
Canada
100.00%
Sectors
XCB
Other
25.50%
Banks
16.56%
Power
11.30%
Pipelines
9.97%
Other
36.67%
ZCS
Banks
43.26%
Other
14.39%
Pipelines
13.21%
Other
29.14%
As of April 24, 2026
Top 10 Holdings
XCB
CA06418Y4L93
0.56%
CA779926WF74
0.53%
CA89116C7J09
0.52%
CA13607QQT27
0.48%
CA06418YXB96
0.43%
Toronto-Dominion Bank, 4.21% 1jun2027, CAD
0.42%
Royal Bank of Canada, 4.632% 1may2028, CAD
0.42%
Toronto-Dominion Bank, 4.68% 8jan2029, CAD
0.41%
Bank of Montreal, 4.709% 7dec2027, CAD
0.41%
Bank of Montreal, 3.19% 1mar2028, CAD
0.39%
ZCS
Bank of Montreal, 4.709% 7dec2027, CAD
7.38%
Bank of Montreal, 3.19% 1mar2028, CAD
6.50%
Toronto-Dominion Bank, 4.477% 18jan2028, CAD
5.15%
CA779926QX54
5.09%
CIBC, 3.8% 10dec2030, CAD
4.34%
CA89116C3S44
4.29%
TransCanada PipeLines, 5.277% 15jul2030, CAD
3.81%
Royal Bank of Canada, 4.829% 8aug2034, CAD (28)
3.71%
Royal Bank of Canada, 4.632% 1may2028, CAD
3.70%
RBC Capital Markets, 4% 17oct2030, CAD
3.64%
Diversification
XCB
Total weight of top 10 holdings out of 1,278 total
4.55%
ZCS
Total weight of top 10 holdings out of 40 total
47.60%
Characteristics
Compare
XCB
ZCS
| Provider | iShares | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada All Corporate Bond TR Index - CAD | FTSE TMX Canada Short Term Corporate Bond Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 4.14% | 3.80% |
| Meets ESG criteria | No | No |
| Inception Date | November 6, 2006 | October 20, 2009 |
Frequently asked questions about XCB and ZCS
Which ETF has performed better year to date: XCB or ZCS?
As of April 24, 2026, XCB has returned 0.92% year to date, while ZCS has returned 0.75%. XCB is ahead on YTD performance.
Which ETF is larger by assets under management: XCB or ZCS?
As of April 24, 2026, XCB manages $3.21 B in assets, while ZCS manages $4.18 B. ZCS is the larger fund by AUM.
How are XCB and ZCS managed?
XCB is passively managed by iShares. It tracks the FTSE Canada All Corporate Bond TR Index - CAD benchmark. ZCS is passively managed by BMO. It tracks the FTSE TMX Canada Short Term Corporate Bond Index - CAD benchmark.
What sectors do XCB and ZCS emphasize?
XCB is most exposed to Banks, Power, and Pipelines. ZCS is most exposed to Banks, Pipelines, and Communication services.
Which ETF is attracting more investor flows: XCB or ZCS?
Year to date, XCB has seen +$418.75 M in net flows, compared with -$135.50 M for ZCS. XCB has attracted more net investor money so far.
How do the fees of XCB and ZCS compare?
XCB has an expense ratio of 0.17%, while ZCS has an expense ratio of 0.11%.
What are the top holdings of XCB and ZCS?
XCB's largest holdings include Toronto-Dominion Bank, 4.21% 1jun2027, CAD and Royal Bank of Canada, 4.632% 1may2028, CAD. ZCS's top holdings include Bank of Montreal, 4.709% 7dec2027, CAD and Bank of Montreal, 3.19% 1mar2028, CAD.
Which ETF is more diversified: XCB or ZCS?
XCB holds 1012 securities, while ZCS holds 34. On holdings count, XCB is the more diversified portfolio.
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