VS
iShares Floating Rate Index ETF (XFR) and Global X 0-3 Month T-Bill ETF (CBIL) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XFR focuses its top 3 sector exposures on Government Agencies, Municipal, and Finance, while CBIL leans towards Sovereign. When evaluating costs, XFR features a management fee (MER) of 0.12%, compared to 0.1% for CBIL. Performance-wise, XFR has returned 1.77% year-to-date with +$64 M in net flows, whereas CBIL is at 1.45% with +$1 B. 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
XFR
CBIL
| AuM | $811.52 M | $2,733.80 M |
| Management Fees | 0.12% | 0.10% |
| Exp. ratio | 0.13% | 0.11% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 1, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XFR | +0.21% | +0.69% | +1.77% | +2.80% | +11.73% |
CBIL | +0.17% | +0.55% | +1.45% | +2.24% | +7.34% | |
| Flows | XFR | +$8 M | -$2 M | +$64 M | +$102 M | -$53 M |
CBIL | +$228 M | +$508 M | +$1,144 M | +$1,096 M | +$2,267 M |
XFR vs CBIL exposure
Countries
XFR
Canada
99.87%
CBIL
Canada
99.99%
Sectors
XFR
Government Agencies
51.95%
Municipal
35.75%
Finance
11.48%
CBIL
Sovereign
99.99%
As of September 1, 2026
Top 10 Holdings
XFR
Province of Ontario, FRN 27nov2028, CAD (DMTN261)
9.53%
Canada Housing Trust, FRN 15sep2027, CAD (108)
8.92%
Canada Housing Trust, FRN 15mar2028, CAD (111)
8.54%
Canada Housing Trust, FRN 15sep2028, CAD (114)
8.12%
CMHC, FRN 15mar2027, CAD (103)
6.68%
Province of Quebec, FRN 22jul2030, CAD (B139)
5.35%
Province of Ontario, FRN 21feb2030, CAD (DMTN270)
5.29%
Province of Ontario, FRN 19nov2030, CAD (DMTN274)
5.10%
Province of Ontario, FRN 13jan2031, CAD (DMTN275)
5.05%
Canada Housing Trust, FRN 15mar2030, CAD (124)
4.98%
CBIL
Canada, Bills 0% 9nov2023, CAD (364D)
99.99%
Diversification
XFR
Total weight of top 10 holdings out of 25 total
67.55%
CBIL
Total weight of top 10 holdings out of 1 total
99.99%
Characteristics
Compare
XFR
CBIL
| Provider | iShares | Global X |
| Management | Passively managed | Actively managed |
| Benchmark | FTSE Canada Floating Rate Note TR Index - CAD | - |
| Replication Method | Direct (Physical) | |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.67% | 2.23% |
| Meets ESG criteria | No | No |
| Inception Date | December 6, 2011 | April 12, 2023 |
Frequently asked questions about XFR and CBIL
Which ETF has performed better year to date: XFR or CBIL?
As of September 1, 2026, XFR has returned 1.77% year to date, while CBIL has returned 1.45%. XFR is ahead on YTD performance.
Which ETF is larger by assets under management: XFR or CBIL?
As of September 1, 2026, XFR manages $811.52 M in assets, while CBIL manages $2.73 B. CBIL is the larger fund by AUM.
How are XFR and CBIL managed?
XFR is passively managed by iShares. It tracks the FTSE Canada Floating Rate Note TR Index - CAD benchmark. CBIL is actively managed by Global X. It does not track an index.
What sectors do XFR and CBIL emphasize?
XFR is most exposed to Government Agencies, Municipal, and Finance. CBIL is most exposed to Sovereign.
Which ETF is attracting more investor flows: XFR or CBIL?
Year to date, XFR has seen +$64.12 M in net flows, compared with +$1,143.81 M for CBIL. CBIL has attracted more net investor money so far.
How do the fees of XFR and CBIL compare?
XFR has an expense ratio of 0.13%, while CBIL has an expense ratio of 0.11%.
What are the top holdings of XFR and CBIL?
XFR's largest holdings include Province of Ontario, FRN 27nov2028, CAD (DMTN261), Canada Housing Trust, FRN 15sep2027, CAD (108), and Canada Housing Trust, FRN 15mar2028, CAD (111). CBIL's top holdings include Canada, Bills 0% 9nov2023, CAD (364D).
Which ETF is more diversified: XFR or CBIL?
XFR holds 25 securities, while CBIL holds 1. On holdings count, XFR is the more diversified portfolio.
Recent articles about XFR and CBIL
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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.