VS
iShares Canadian Government Bond Index ETF (XGB) and RBC Canadian Discount Bond ETF (RCDB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XGB focuses its top 3 sector exposures on Sovereign, Municipal, and Government Agencies, while RCDB leans towards Finance, Municipal, and Sovereign. When evaluating costs, XGB features a management fee (MER) of 0.12%, compared to 0.15% for RCDB. Performance-wise, XGB has returned 0.94% year-to-date with -$239 M in net flows, whereas RCDB is at 0.88% with +$148 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
XGB
RCDB
| AuM | $1,564.54 M | $1,403.78 M |
| Management Fees | 0.12% | 0.15% |
| Exp. ratio | 0.13% | 0.17% |
| Tracking Difference | - | - |
Historical performance and flows
As of October 2, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XGB | -0.80% | -2.59% | -0.94% | -1.41% | +13.03% |
RCDB | -0.13% | -0.45% | +0.88% | +1.13% | +15.17% | |
| Flows | XGB | -$102 M | -$32 M | -$239 M | -$37 M | +$660 M |
RCDB | -$23 M | +$15 M | +$148 M | +$177 M | +$368 M |
XGB vs RCDB exposure
Countries
XGB
Canada
99.18%
RCDB
Canada
99.08%
Sectors
XGB
Sovereign
44.40%
Municipal
38.41%
Government Agencies
9.61%
Other
7.58%
RCDB
Finance
32.14%
Municipal
16.92%
Sovereign
16.13%
Utilities
7.90%
Government Agencies
7.17%
Other
19.73%
As of October 2, 2026
Top 10 Holdings
XGB
Canada, Bonds 2.75% 1sep2030, CAD
2.01%
Canada, Bonds 3.25% 1jun2036, CAD
2.00%
Canada, Bonds 2.75% 1mar2031, CAD
1.99%
Canada, Bonds 3.25% 1dec2035, CAD
1.98%
Canada, Bonds 3.25% 1jun2035, CAD
1.81%
Canada, Bonds 3% 1jun2034, CAD
1.57%
Canada, Bonds 3% 1sep2031, CAD
1.55%
Canada, Bonds 2.75% 1mar2030, CAD
1.55%
Canada, Bonds 3.5% 1sep2029, CAD
1.51%
Canada, Bonds 3.5% 1dec2057, CAD
1.50%
RCDB
Canada, Bond 2 1jun2028 10Y
4.51%
Canada, Bond 0.5 1oct2030 10Y
3.70%
CMHC, 2.35% 15mar2028, CAD (80)
3.42%
Province of Ontario, 1.55% 1nov2029, CAD (DMTN251)
3.40%
Bell Canada, 1.65% 16aug2027, CAD (M-53)
2.24%
Province of Quebec, 1.9% 1sep2030, CAD (B127)
2.05%
CMHC, 1.75% 15jun2030, CAD (92)
2.02%
Royal Bank of Canada, 3.572% 9dec2031, CAD
1.92%
Hydro-Quebec, 2% 1sep2028, CAD (0082)
1.88%
Canada, Bonds 1.5% 1dec2031 10Y
1.78%
Diversification
XGB
Total weight of top 10 holdings out of 550 total
17.48%
RCDB
Total weight of top 10 holdings out of 111 total
26.91%
Characteristics
Compare
XGB
RCDB
| Provider | iShares | RBC Global Asset Management |
| Management | Passively managed | Actively managed |
| Benchmark | FTSE Canada All Government Bond TR Index - CAD | - |
| Replication Method | Direct (Physical) | - |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.24% | 2.26% |
| Meets ESG criteria | No | No |
| Inception Date | November 6, 2006 | June 12, 2019 |
Frequently asked questions about XGB and RCDB
Which ETF has performed better year to date: XGB or RCDB?
As of October 2, 2026, XGB has returned -0.94% year to date, while RCDB has returned 0.88%. RCDB is ahead on YTD performance.
Which ETF is larger by assets under management: XGB or RCDB?
As of October 2, 2026, XGB manages $1.56 B in assets, while RCDB manages $1.40 B. XGB is the larger fund by AUM.
How are XGB and RCDB managed?
XGB is passively managed by iShares. It tracks the FTSE Canada All Government Bond TR Index - CAD benchmark. RCDB is actively managed by RBC Global Asset Management. It does not track an index.
What sectors do XGB and RCDB emphasize?
XGB is most exposed to Sovereign, Municipal, and Government Agencies. RCDB is most exposed to Finance, Municipal, and Sovereign.
Which ETF is attracting more investor flows: XGB or RCDB?
Year to date, XGB has seen -$238.83 M in net flows, compared with +$147.59 M for RCDB. RCDB has attracted more net investor money so far.
How do the fees of XGB and RCDB compare?
XGB has an expense ratio of 0.13%, while RCDB has an expense ratio of 0.17%.
What are the top holdings of XGB and RCDB?
XGB's largest holdings include Canada, Bonds 2.75% 1sep2030, CAD, Canada, Bonds 3.25% 1jun2036, CAD, and Canada, Bonds 2.75% 1mar2031, CAD. RCDB's top holdings include Canada, Bond 2 1jun2028 10Y, Canada, Bond 0.5 1oct2030 10Y, and CMHC, 2.35% 15mar2028, CAD (80).
Which ETF is more diversified: XGB or RCDB?
XGB holds 549 securities, while RCDB holds 111. On holdings count, XGB is the more diversified portfolio.
Recent articles about XGB and RCDB
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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.