VS
iShares Core Canadian 15+ Year Federal Bond Index ETF (XFLB) and BMO Discount Bond Index ETF (ZDB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XFLB focuses its top 3 sector exposures on Sovereign, while ZDB leans towards Sovereign, Municipal, and Finance. When evaluating costs, XFLB features a management fee (MER) of 0.15%, compared to 0.09% for ZDB. Performance-wise, XFLB has returned 2.86% year-to-date with -$2 M in net flows, whereas ZDB is at 0.04% with +$245 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
XFLB
ZDB
| AuM | $46.47 M | $1,380.85 M |
| Management Fees | 0.15% | 0.09% |
| Exp. ratio | 0.17% | 0.10% |
| Tracking Difference | -0.12% | - |
Historical performance and flows
As of September 4, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XFLB | -2.86% | -5.10% | -2.86% | -2.47% | -0.46% |
ZDB | -1.00% | -1.44% | +0.04% | +1.14% | +13.23% | |
| Flows | XFLB | +$0 M | -$4 M | -$2 M | +$7 M | +$18 M |
ZDB | +$52 M | +$118 M | +$245 M | +$583 M | +$523 M |
XFLB vs ZDB exposure
Countries
XFLB
Canada
99.91%
ZDB
Canada
100.00%
Sectors
XFLB
Sovereign
99.91%
ZDB
Sovereign
33.15%
Municipal
31.50%
Finance
11.53%
Government Agencies
9.96%
Other
13.86%
As of September 4, 2026
Top 10 Holdings
XFLB
Canada, Bonds 3.5% 1dec2057, CAD
27.50%
Canada, Bond 2 1jan2051 30Y
19.89%
Canada, Bonds 2.75% 1dec2055, CAD
19.55%
Canada, Bond 1.75 1dec2053 30Y
15.76%
Canada, Bond 2.75 1dec2048 30Y
6.10%
Canada, Bond 3.5 1dec2045 30Y
5.99%
Canada, Bond 2.75 1dec2064 50Y
4.26%
Canada, Bonds 3.5% 1dec2056, CAD (D)
0.87%
ZDB
Canada, Bond 0.5 1oct2030 10Y
18.46%
CMHC, 1.9% 15mar2031, CAD (100)
6.90%
Province of Quebec, 1.5% 1sep2031, CAD (B128)
5.47%
Canada, Bonds 2.25% 1dec2029, CAD
5.20%
Province of Ontario, 2.65% 2dec2050, CAD (DMTN242)
5.12%
Province of Ontario, 2.05% 2jun2030, CAD (DMTN243)
5.10%
Sun Life Financial, 2.06% 1oct2035, CAD (2020-2)
5.00%
Toronto-Dominion Bank, 1.896% 11sep2028, CAD
3.90%
Canada, Bonds 2% 1jun2032, CAD
3.11%
Pembina Pipeline Corporation, 3.31% 1feb2030, CAD (15)
2.63%
Diversification
XFLB
Total weight of top 10 holdings out of 8 total
99.91%
ZDB
Total weight of top 10 holdings out of 48 total
60.88%
Characteristics
Compare
XFLB
ZDB
| Provider | iShares | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | Bloomberg Canada Aggregate 15+ Year Federal Bond Float Adjusted Index - CAD | FTSE Canada Universe Discount Bond Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.27% | 1.88% |
| Meets ESG criteria | No | No |
| Inception Date | February 7, 2023 | February 10, 2014 |
Frequently asked questions about XFLB and ZDB
Which ETF has performed better year to date: XFLB or ZDB?
As of September 4, 2026, XFLB has returned -2.86% year to date, while ZDB has returned 0.04%. ZDB is ahead on YTD performance.
Which ETF is larger by assets under management: XFLB or ZDB?
As of September 4, 2026, XFLB manages $46.47 M in assets, while ZDB manages $1.38 B. ZDB is the larger fund by AUM.
How are XFLB and ZDB managed?
XFLB is passively managed by iShares. It tracks the Bloomberg Canada Aggregate 15+ Year Federal Bond Float Adjusted Index - CAD benchmark. ZDB is passively managed by BMO. It tracks the FTSE Canada Universe Discount Bond Index - CAD benchmark.
What sectors do XFLB and ZDB emphasize?
XFLB is most exposed to Sovereign. ZDB is most exposed to Sovereign, Municipal, and Finance.
Which ETF is attracting more investor flows: XFLB or ZDB?
Year to date, XFLB has seen -$2.04 M in net flows, compared with +$244.84 M for ZDB. ZDB has attracted more net investor money so far.
How do the fees of XFLB and ZDB compare?
XFLB has an expense ratio of 0.17%, while ZDB has an expense ratio of 0.10%.
What are the top holdings of XFLB and ZDB?
XFLB's largest holdings include Canada, Bonds 3.5% 1dec2057, CAD, Canada, Bond 2 1jan2051 30Y, and Canada, Bonds 2.75% 1dec2055, CAD. ZDB's top holdings include Canada, Bond 0.5 1oct2030 10Y, CMHC, 1.9% 15mar2031, CAD (100), and Province of Quebec, 1.5% 1sep2031, CAD (B128).
Which ETF is more diversified: XFLB or ZDB?
XFLB holds 8 securities, while ZDB holds 48. On holdings count, ZDB 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.