VS
iShares Core Canadian Long Term Bond Index ETF (XLB) and BMO Equal Weight Banks Index ETF (ZEB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XLB focuses its top 3 sector exposures on Municipal, Sovereign, and Utilities, while ZEB leans towards Finance. When evaluating costs, XLB features a management fee (MER) of 0.18%, compared to 0.25% for ZEB. Performance-wise, XLB has returned 1.5% year-to-date with -$119 M in net flows, whereas ZEB is at 34.17% with +$250 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
ZEB
| AuM | $691.73 M | $7,374.39 M |
| Management Fees | 0.18% | 0.25% |
| Exp. ratio | 0.20% | 0.28% |
| Tracking Difference | - | -0.62% |
Historical performance and flows
As of August 18, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XLB | -1.96% | -0.44% | -1.50% | +1.96% | +9.03% |
ZEB | +1.14% | +15.35% | +34.17% | +65.05% | +164.45% | |
| Flows | XLB | +$5 M | -$36 M | -$119 M | -$108 M | -$71 M |
ZEB | -$16 M | +$1,464 M | +$250 M | +$552 M | -$911 M |
XLB vs ZEB exposure
Countries
XLB
Canada
98.67%
ZEB
Canada
100.00%
Sectors
XLB
Municipal
52.55%
Sovereign
18.35%
Utilities
10.97%
Other
18.13%
ZEB
Finance
100.00%
As of August 18, 2026
Top 10 Holdings
XLB
Canada, Bonds 3.5% 1dec2057, CAD
4.72%
Canada, Bond 2 1jan2051 30Y
3.39%
Canada, Bonds 2.75% 1dec2055, CAD
3.31%
Canada, Bond 1.75 1dec2053 30Y
2.51%
Province of Quebec, 4.4% 1dec2055, CAD (B133)
2.24%
Province of Ontario, 3.45% 2jun2045, CAD (DMTN220)
1.78%
Province of Ontario, 4.45% 2dec2056, CAD
1.75%
Province of Quebec, 3.1% 1dec2051, CAD (B125-01)
1.61%
Province of Quebec, 4.2% 1dec2057, CAD (B137)
1.60%
Province of Ontario, 2.9% 2dec2046, CAD (DMTN228)
1.47%
ZEB
The Toronto-Dominion Bank
17.42%
Royal Bank of Canada
17.32%
Bank of Montreal
17.15%
The Bank of Nova Scotia
16.61%
Canadian Imperial Bank of Commerce
15.79%
National Bank of Canada
15.70%
Diversification
XLB
Total weight of top 10 holdings out of 625 total
24.35%
ZEB
Total weight of top 10 holdings out of 6 total
100.00%
Characteristics
Compare
XLB
ZEB
| Provider | iShares | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Long Term Overall Bond TR Index - CAD | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 4.21% | 2.27% |
| Meets ESG criteria | No | No |
| Inception Date | November 6, 2006 | October 20, 2009 |
Frequently asked questions about XLB and ZEB
Which ETF has performed better year to date: XLB or ZEB?
As of August 18, 2026, XLB has returned -1.50% year to date, while ZEB has returned 34.17%. ZEB is ahead on YTD performance.
Which ETF is larger by assets under management: XLB or ZEB?
As of August 18, 2026, XLB manages $691.73 M in assets, while ZEB manages $7.37 B. ZEB is the larger fund by AUM.
How are XLB and ZEB managed?
XLB is passively managed by iShares. It tracks the FTSE Canada Long Term Overall Bond TR Index - CAD benchmark. ZEB is passively managed by BMO. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do XLB and ZEB emphasize?
XLB is most exposed to Municipal, Sovereign, and Utilities. ZEB is most exposed to Finance.
Which ETF is attracting more investor flows: XLB or ZEB?
Year to date, XLB has seen -$118.92 M in net flows, compared with +$250.12 M for ZEB. ZEB has attracted more net investor money so far.
How do the fees of XLB and ZEB compare?
XLB has an expense ratio of 0.20%, while ZEB has an expense ratio of 0.28%.
What are the top holdings of XLB and ZEB?
XLB's largest holdings include Canada, Bonds 3.5% 1dec2057, CAD, Canada, Bond 2 1jan2051 30Y, and Canada, Bonds 2.75% 1dec2055, CAD. ZEB's top holdings include The Toronto-Dominion Bank, Royal Bank of Canada, and Bank of Montreal.
Which ETF is more diversified: XLB or ZEB?
XLB holds 625 securities, while ZEB holds 6. On holdings count, XLB is the more diversified portfolio.
Recent articles about XLB and ZEB
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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.