VS
iShares Core Canadian Long Term Bond Index ETF (XLB) and BMO Equal Weight Utilities Index ETF (ZUT) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XLB focuses its top 3 sector exposures on Municipal, Sovereign, and Power, while ZUT leans towards Utilities. When evaluating costs, XLB features a management fee (MER) of 0.18%, compared to 0.55% for ZUT. Performance-wise, XLB has returned 2.56% year-to-date with -$93 M in net flows, whereas ZUT is at 20.18% with -$66 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
ZUT
| AuM | $751.29 M | $901.76 M |
| Management Fees | 0.18% | 0.55% |
| Exp. ratio | 0.20% | 0.61% |
| Tracking Difference | - | -0.90% |
Historical performance and flows
As of June 12, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XLB | +2.28% | +3.51% | +2.56% | +3.60% | +9.27% |
ZUT | +3.71% | +8.83% | +20.18% | +27.67% | +47.40% | |
| Flows | XLB | -$9 M | -$76 M | -$93 M | -$87 M | +$12 M |
ZUT | -$4 M | +$15 M | -$66 M | +$132 M | +$243 M |
XLB vs ZUT exposure
Countries
XLB
Canada
99.84%
ZUT
Canada
85.23%
Bermuda
14.77%
Sectors
XLB
Municipal
48.32%
Sovereign
17.52%
Other
9.52%
Power
9.02%
Other
15.61%
ZUT
Utilities
100.00%
As of June 12, 2026
Top 10 Holdings
XLB
Canada, Bonds 3.5% 1dec2057, CAD
4.19%
Canada, Bond 2 1jan2051 30Y
3.31%
CA135087U287
3.29%
Canada, Bonds 2.75% 1dec2055, CAD
3.23%
Canada, Bond 1.75 1dec2053 30Y
2.61%
Province of Quebec, 4.4% 1dec2055, CAD (B133)
2.22%
Province of Ontario, 2.9% 2dec2046, CAD (DMTN228)
1.65%
Province of Ontario, 4.65% 2jun2041, CAD (DMTN204)
1.60%
Province of Ontario, 3.75% 2dec2053, CAD (DMTN255)
1.48%
Province of Ontario, 3.45% 2jun2045, CAD (DMTN220)
1.48%
ZUT
BORALEX
10.04%
NORTHLAND POWER
8.09%
ALTAGAS
8.08%
BROOKFIELD RENEWABLE PARTNERS
7.87%
ATCO
7.62%
CAPITAL POWER
7.57%
EMERA
7.48%
ALGONQUIN POWER
7.47%
CANADIAN UTILITIES
7.43%
FORTIS
7.23%
Diversification
XLB
Total weight of top 10 holdings out of 620 total
25.07%
ZUT
Total weight of top 10 holdings out of 13 total
78.87%
Characteristics
Compare
XLB
ZUT
| Provider | iShares | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Long Term Overall Bond TR Index - CAD | Solactive Equal Weight Canada Utilities Total Return Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 4.02% | 2.77% |
| Meets ESG criteria | No | No |
| Inception Date | November 6, 2006 | January 19, 2010 |
Frequently asked questions about XLB and ZUT
Which ETF has performed better year to date: XLB or ZUT?
As of June 12, 2026, XLB has returned 2.56% year to date, while ZUT has returned 20.18%. ZUT is ahead on YTD performance.
Which ETF is larger by assets under management: XLB or ZUT?
As of June 12, 2026, XLB manages $751.29 M in assets, while ZUT manages $901.76 M. ZUT is the larger fund by AUM.
How are XLB and ZUT managed?
XLB is passively managed by iShares. It tracks the FTSE Canada Long Term Overall Bond TR Index - CAD benchmark. ZUT is passively managed by BMO. It tracks the Solactive Equal Weight Canada Utilities Total Return Index - CAD benchmark.
What sectors do XLB and ZUT emphasize?
XLB is most exposed to Municipal, Sovereign, and Power. ZUT is most exposed to Utilities.
Which ETF is attracting more investor flows: XLB or ZUT?
Year to date, XLB has seen -$92.51 M in net flows, compared with -$65.77 M for ZUT. ZUT has attracted more net investor money so far.
How do the fees of XLB and ZUT compare?
XLB has an expense ratio of 0.20%, while ZUT has an expense ratio of 0.61%.
What are the top holdings of XLB and ZUT?
XLB's largest holdings include Canada, Bonds 3.5% 1dec2057, CAD and Canada, Bond 2 1jan2051 30Y. ZUT's top holdings include BORALEX, NORTHLAND POWER, and ALTAGAS.
Which ETF is more diversified: XLB or ZUT?
XLB holds 566 securities, while ZUT holds 13. On holdings count, XLB is the more diversified portfolio.
Recent articles about XLB and ZUT
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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.