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iShares Canadian Government Bond Index ETF (XGB) and BMO S&P 500 Index ETF (ZSP) 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 ZSP leans towards Technology, Finance, and Consumer Non-Cyclicals. When evaluating costs, XGB features a management fee (MER) of 0.12%, compared to 0.08% for ZSP. Performance-wise, XGB has returned 0.08% year-to-date with -$165 M in net flows, whereas ZSP is at 12.81% with +$371 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
ZSP
| AuM | $1,662.15 M | $24,085.68 M |
| Management Fees | 0.12% | 0.08% |
| Exp. ratio | 0.13% | 0.09% |
| Tracking Difference | - | -0.66% |
Historical performance and flows
As of August 20, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XGB | -1.03% | -0.40% | -0.08% | +1.81% | +12.64% |
ZSP | +0.75% | +3.42% | +12.81% | +19.87% | +82.41% | |
| Flows | XGB | +$11 M | +$75 M | -$165 M | +$88 M | +$756 M |
ZSP | +$86 M | -$35 M | +$371 M | +$858 M | +$4,935 M |
XGB vs ZSP exposure
Countries
XGB
Canada
99.23%
ZSP
USA
97.59%
Sectors
XGB
Sovereign
44.37%
Municipal
38.60%
Government Agencies
9.48%
Other
7.55%
ZSP
Technology
45.24%
Finance
13.35%
Consumer Non-Cyclicals
8.96%
Healthcare
8.87%
Industrials
7.90%
Other
15.69%
As of August 20, 2026
Top 10 Holdings
XGB
Canada, Bonds 2.75% 1mar2031, CAD
2.05%
Canada, Bonds 3.25% 1dec2035, CAD
2.02%
Canada, Bonds 2.75% 1sep2030, CAD
2.01%
Canada, Bonds 3.25% 1jun2035, CAD
1.88%
Canada, Bonds 3.25% 1jun2036, CAD
1.79%
Canada, Bonds 3% 1jun2034, CAD
1.63%
Canada, Bonds 3.5% 1dec2057, CAD
1.62%
Canada, Bonds 2.75% 1mar2030, CAD
1.59%
Canada, Bond 1.5 1jun2031 10Y
1.51%
Canada, Bonds 3.5% 1sep2029, CAD
1.45%
ZSP
NVIDIA Corp.
7.39%
Apple, Inc.
6.48%
Microsoft Corp.
4.29%
Amazon.com, Inc.
3.68%
Alphabet, Inc.
3.24%
Broadcom Inc.
2.76%
Alphabet, Inc.
2.60%
Micron Technology, Inc.
2.03%
Meta Platforms, Inc.
1.94%
Tesla, Inc.
1.81%
Diversification
XGB
Total weight of top 10 holdings out of 550 total
17.54%
ZSP
Total weight of top 10 holdings out of 502 total
36.20%
Characteristics
Compare
XGB
ZSP
| Provider | iShares | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada All Government Bond TR Index - CAD | S&P 500 CAD Total Return Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.18% | 0.77% |
| Meets ESG criteria | No | No |
| Inception Date | November 6, 2006 | November 14, 2012 |
Frequently asked questions about XGB and ZSP
Which ETF has performed better year to date: XGB or ZSP?
As of August 20, 2026, XGB has returned -0.08% year to date, while ZSP has returned 12.81%. ZSP is ahead on YTD performance.
Which ETF is larger by assets under management: XGB or ZSP?
As of August 20, 2026, XGB manages $1.66 B in assets, while ZSP manages $24.09 B. ZSP is the larger fund by AUM.
How are XGB and ZSP managed?
XGB is passively managed by iShares. It tracks the FTSE Canada All Government Bond TR Index - CAD benchmark. ZSP is passively managed by BMO. It tracks the S&P 500 CAD Total Return Index - CAD benchmark.
What sectors do XGB and ZSP emphasize?
XGB is most exposed to Sovereign, Municipal, and Government Agencies. ZSP is most exposed to Technology, Finance, and Consumer Non-Cyclicals.
Which ETF is attracting more investor flows: XGB or ZSP?
Year to date, XGB has seen -$165.09 M in net flows, compared with +$371.01 M for ZSP. ZSP has attracted more net investor money so far.
How do the fees of XGB and ZSP compare?
XGB has an expense ratio of 0.13%, while ZSP has an expense ratio of 0.09%.
What are the top holdings of XGB and ZSP?
XGB's largest holdings include Canada, Bonds 2.75% 1mar2031, CAD, Canada, Bonds 3.25% 1dec2035, CAD, and Canada, Bonds 2.75% 1sep2030, CAD. ZSP's top holdings include NVIDIA Corp., Apple, Inc., and Alphabet, Inc..
Which ETF is more diversified: XGB or ZSP?
XGB holds 550 securities, while ZSP holds 495. On holdings count, XGB is the more diversified portfolio.
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