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iShares Global Government Bond Index ETF (XGGB) and CIBC Global Bond ex-Canada Index ETF (CGBI) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XGGB focuses its top 3 sector exposures on Sovereign, while CGBI leans towards Sovereign, Finance, and Industrials. When evaluating costs, XGGB features a management fee (MER) of 0.2%, compared to 0.19% for CGBI. Performance-wise, XGGB has returned 1.29% year-to-date with -$87 M in net flows, whereas CGBI is at 1.15% with +$174 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
XGGB
CGBI
| AuM | $428.99 M | $784.79 M |
| Management Fees | 0.20% | 0.19% |
| Exp. ratio | 0.22% | 0.22% |
| Tracking Difference | -0.17% | 0.01% |
Historical performance and flows
As of September 8, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XGGB | -0.32% | -0.46% | -1.29% | -1.25% | +6.12% |
CGBI | -0.55% | -0.86% | -1.15% | -0.86% | +8.08% | |
| Flows | XGGB | +$41 M | -$6 M | -$87 M | +$66 M | +$146 M |
CGBI | +$33 M | +$58 M | +$174 M | +$247 M | +$489 M |
XGGB vs CGBI exposure
Countries
XGGB
USA
40.80%
China
11.68%
Japan
8.21%
Other
39.31%
CGBI
USA
35.42%
China
11.76%
Other
9.46%
Japan
8.58%
Other
34.78%
Sectors
XGGB
Sovereign
98.89%
CGBI
Sovereign
57.76%
Finance
13.10%
Other
9.46%
Industrials
7.71%
Other
11.97%
As of September 8, 2026
Top 10 Holdings
XGGB
USA, Notes 4.25% 15nov2034, USD (F-2034)
0.56%
USA, Notes 4.375% 15may2034, USD (C-2034)
0.53%
USA, Notes 3.875% 15aug2034, USD (E-2034)
0.52%
USA, Notes 4.25% 15aug2035, USD (E-2035)
0.51%
USA, Notes 4.25% 15may2035, USD (C-2035)
0.50%
China, TB 1.79% 25mar2032, CNY
0.42%
USA, Notes 2.875% 15may2032, USD (C-2032)
0.40%
USA, Notes 3.5% 31jan2028, USD (U-2028)
0.37%
China, TB 1.44% 15sep2027, CNY
0.37%
USA, Notes 3.375% 31dec2027, USD (BM-2027)
0.37%
CGBI
USA, Notes 0.875% 15nov2030, USD (F-2030)
2.93%
USA, Notes 4.25% 15may2035, USD (C-2035)
2.70%
USA, Notes 4.25% 28feb2029, USD (V-2029)
2.63%
USA, Notes 2.875% 15may2028, USD (C-2028)
2.37%
Japan, JGB 0.1% 20dec2028, JPY
1.67%
USA, Bonds 4.75% 15aug2055, USD
1.65%
China, Bonds 2.8% 24mar2029, CNY
1.61%
USA, Notes 2.75% 15aug2032, USD (E-2032)
1.56%
China Development Bank, 3.09% 9aug2028, CNY
1.52%
Japan, JGB 0.4% 20sep2040, JPY
1.50%
Diversification
XGGB
Total weight of top 10 holdings out of 1,170 total
4.56%
CGBI
Total weight of top 10 holdings out of 342 total
20.14%
Characteristics
Compare
XGGB
CGBI
| Provider | iShares | CIBC |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE World Government Bond Index Currency-hedged in CAD - CAD | Morningstar Global ex-Canada Core Bond Hedged CAD Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.84% | 2.86% |
| Meets ESG criteria | No | No |
| Inception Date | September 21, 2017 | September 16, 2021 |
Frequently asked questions about XGGB and CGBI
Which ETF has performed better year to date: XGGB or CGBI?
As of September 8, 2026, XGGB has returned -1.29% year to date, while CGBI has returned -1.15%. CGBI is ahead on YTD performance.
Which ETF is larger by assets under management: XGGB or CGBI?
As of September 8, 2026, XGGB manages $428.99 M in assets, while CGBI manages $784.79 M. CGBI is the larger fund by AUM.
How are XGGB and CGBI managed?
XGGB is passively managed by iShares. It tracks the FTSE World Government Bond Index Currency-hedged in CAD - CAD benchmark. CGBI is passively managed by CIBC. It tracks the Morningstar Global ex-Canada Core Bond Hedged CAD Index - CAD benchmark.
What sectors do XGGB and CGBI emphasize?
XGGB is most exposed to Sovereign. CGBI is most exposed to Sovereign, Finance, and Industrials.
Which ETF is attracting more investor flows: XGGB or CGBI?
Year to date, XGGB has seen -$86.93 M in net flows, compared with +$174.35 M for CGBI. CGBI has attracted more net investor money so far.
How do the fees of XGGB and CGBI compare?
XGGB has an expense ratio of 0.22%, while CGBI has an expense ratio of 0.22%.
What are the top holdings of XGGB and CGBI?
XGGB's largest holdings include USA, Notes 4.25% 15nov2034, USD (F-2034), USA, Notes 4.375% 15may2034, USD (C-2034), and USA, Notes 3.875% 15aug2034, USD (E-2034). CGBI's top holdings include USA, Notes 0.875% 15nov2030, USD (F-2030) and USA, Notes 4.25% 15may2035, USD (C-2035).
Which ETF is more diversified: XGGB or CGBI?
XGGB holds 1161 securities, while CGBI holds 325. On holdings count, XGGB is the more diversified portfolio.
Recent articles about XGGB and CGBI
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