VS
Compare iShares Core Canadian Long Term Bond Index ETF (XLB) vs NBI Sustainable Canadian Bond ETF (NSCB) to find the best fit for your portfolio. XLB provides Municipal, Sovereign, and Utilities exposures, while NSCB is primarily weighted in Finance, Sovereign, and Utilities. When evaluating costs, XLB features a management fee (MER) of 0.18%, compared to 0.63% for NSCB. Performance-wise, XLB has returned 3.25% year-to-date with -$65 M in net flows, whereas NSCB is at 3.25% with +$38 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
XLB
NSCB
| AuM | $726.98 M | $2,785.70 M |
| Management Fees | 0.18% | 0.63% |
| Exp. ratio | 0.20% | 0.61% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 30, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XLB | -1.89% | -6.37% | -3.25% | -4.62% | +11.25% |
NSCB | -1.28% | -3.25% | -3.25% | -4.39% | +4.60% | |
| Flows | XLB | +$14 M | +$55 M | -$65 M | -$82 M | -$12 M |
NSCB | +$1 M | +$42 M | +$38 M | -$30 M | +$1,125 M |
XLB vs NSCB exposure
Countries
XLB
Canada
98.26%
NSCB
Canada
94.79%
Sectors
XLB
Municipal
51.71%
Sovereign
19.48%
Utilities
10.74%
Other
18.07%
NSCB
Finance
28.83%
Sovereign
19.54%
Utilities
19.38%
Municipal
16.63%
Industrials
7.35%
Other
8.27%
As of September 30, 2026
Top 10 Holdings
XLB
Canada, Bonds 3.5% 1dec2057, CAD
4.72%
Canada, Bond 2 1jan2051 30Y
3.14%
Canada, Bonds 2.75% 1dec2055, CAD
3.05%
Canada, Bond 1.75 1dec2053 30Y
2.40%
Province of Quebec, 4.4% 1dec2055, CAD (B133)
2.04%
Province of Ontario, 3.45% 2jun2045, CAD (DMTN220)
1.75%
Province of Ontario, 4.45% 2dec2056, CAD
1.69%
Province of Quebec, 3.1% 1dec2051, CAD (B125-01)
1.58%
Province of Quebec, 4.2% 1dec2057, CAD (B137)
1.57%
Province of Ontario, 4.7% 2jun2037, CAD (DMTN164)
1.41%
NSCB
Canada, Bonds 3.5% 1mar2034, CAD
9.82%
Canada, Bonds 3.25% 1mar2036, CAD
4.47%
Hydro-Quebec, 5% 15feb2050, CAD (JN)
3.20%
Canada, Bonds 3.5% 1dec2056, CAD (D)
2.72%
Province of Ontario, 4.1% 7oct2054, CAD (DMTN267)
2.62%
Canada, Bonds 3% 1mar2032, CAD (C)
2.53%
PSP Capital, 4.4% 2dec2030, CAD (G-13)
2.49%
PSP Capital, 2.6% 1mar2032, CAD (G-4)
2.40%
Hydro-Quebec, 4% 15feb2055, CAD (JQ)
2.29%
Province of Ontario, FRN 19nov2030, CAD (DMTN274)
2.19%
Diversification
XLB
Total weight of top 10 holdings out of 626 total
23.35%
NSCB
Total weight of top 10 holdings out of 158 total
34.72%
Characteristics
Compare
XLB
NSCB
| Provider | iShares | National Bank Investments |
| Management | Passively managed | Actively managed |
| Benchmark | FTSE Canada Long Term Overall Bond TR Index - CAD | - |
| Replication Method | Direct (Physical) | - |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 4.32% | 0.00% |
| Meets ESG criteria | No | Yes |
| Inception Date | November 6, 2006 | January 23, 2020 |
Frequently asked questions about XLB and NSCB
Which ETF has performed better year to date: XLB or NSCB?
As of September 30, 2026, XLB has returned -3.25% year to date, while NSCB has returned -3.25%. NSCB is ahead on YTD performance.
Which ETF is larger by assets under management: XLB or NSCB?
As of September 30, 2026, XLB manages $726.98 M in assets, while NSCB manages $2.79 B. NSCB is the larger fund by AUM.
How are XLB and NSCB managed?
XLB is passively managed by iShares. It tracks the FTSE Canada Long Term Overall Bond TR Index - CAD benchmark. NSCB is actively managed by National Bank Investments. It does not track an index.
What sectors do XLB and NSCB emphasize?
XLB is most exposed to Municipal, Sovereign, and Utilities. NSCB is most exposed to Finance, Sovereign, and Utilities.
Which ETF is attracting more investor flows: XLB or NSCB?
Year to date, XLB has seen -$65.23 M in net flows, compared with +$38.06 M for NSCB. NSCB has attracted more net investor money so far.
How do the fees of XLB and NSCB compare?
XLB has an expense ratio of 0.20%, while NSCB has an expense ratio of 0.61%.
What are the top holdings of XLB and NSCB?
XLB's largest holdings include Canada, Bonds 3.5% 1dec2057, CAD, Canada, Bond 2 1jan2051 30Y, and Canada, Bonds 2.75% 1dec2055, CAD. NSCB's top holdings include Canada, Bonds 3.5% 1mar2034, CAD, Canada, Bonds 3.25% 1mar2036, CAD, and Hydro-Quebec, 5% 15feb2050, CAD (JN).
Which ETF is more diversified: XLB or NSCB?
XLB holds 624 securities, while NSCB holds 152. On holdings count, XLB is the more diversified portfolio.
Recent articles about XLB and NSCB
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