VS
iShares Core High Quality Canadian Bond Index ETF (XQB) and BMO Mid Corporate Bond Index ETF (ZCM) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XQB focuses its top 3 sector exposures on Finance, Sovereign, and Municipal, while ZCM leans towards Finance, Energy, and Utilities. When evaluating costs, XQB features a management fee (MER) of 0.12%, compared to 0.3% for ZCM. Performance-wise, XQB has returned 0.91% year-to-date with +$23 M in net flows, whereas ZCM is at 0.27% with +$190 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
XQB
ZCM
| AuM | $526.83 M | $1,469.03 M |
| Management Fees | 0.12% | 0.30% |
| Exp. ratio | 0.13% | 0.33% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 14, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XQB | -1.39% | -2.53% | -0.91% | -0.96% | +12.57% |
ZCM | -1.48% | -2.44% | -0.27% | +0.14% | +20.80% | |
| Flows | XQB | +$4 M | +$6 M | +$23 M | +$46 M | +$209 M |
ZCM | +$1 M | +$76 M | +$190 M | +$268 M | +$994 M |
XQB vs ZCM exposure
Countries
XQB
Canada
93.42%
ZCM
Canada
91.78%
Other
8.22%
Sectors
XQB
Finance
28.20%
Sovereign
27.73%
Municipal
22.89%
Other
21.18%
ZCM
Finance
36.98%
Energy
29.75%
Utilities
13.50%
Telecommunications
13.41%
As of September 14, 2026
Top 10 Holdings
XQB
Canada, Bonds 3.25% 1dec2035, CAD
1.33%
Canada, Bonds 2.75% 1sep2030, CAD
1.29%
Canada, Bonds 3.25% 1jun2036, CAD
1.26%
Canada, Bonds 2.75% 1mar2031, CAD
1.15%
Canada, Bonds 3.25% 1jun2035, CAD
1.15%
Canada, Bonds 3.5% 1dec2057, CAD
1.05%
Canada, Bonds 3% 1jun2034, CAD
1.02%
Canada, Bonds 2.75% 1mar2030, CAD
1.01%
Canada, Bonds 3.5% 1sep2029, CAD
0.93%
Canada, Bonds 3.25% 1dec2034, CAD
0.92%
ZCM
Brookfield Finance II, 5.431% 14dec2032, CAD
8.18%
Enbridge, 3.1% 21sep2033, CAD
7.81%
TransCanada PipeLines, 4.575% 20feb2035, CAD
5.82%
TransCanada PipeLines, 5.33% 12may2032, CAD
5.45%
TELUS, 5.25% 15nov2032, CAD (CAG)
5.41%
Toronto-Dominion Bank, 4.133% 9jan2033, CAD
5.17%
Choice Properties REIT, 5.4% 1mar2033, CAD (S)
4.77%
Hydro One Inc, 4.25% 4jan2035, CAD (60)
4.52%
Choice Properties REIT, 6.003% 24jun2032, CAD (R)
4.20%
Bank of Nova Scotia, 4.442% 15nov2035, CAD
3.24%
Diversification
XQB
Total weight of top 10 holdings out of 598 total
11.12%
ZCM
Total weight of top 10 holdings out of 35 total
54.57%
Characteristics
Compare
XQB
ZCM
| Provider | iShares | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Liquid Universe Capped Bond TR Index - CAD | FTSE Canada Mid Term Corporate Bond Total Return Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.54% | 4.44% |
| Meets ESG criteria | No | No |
| Inception Date | November 19, 2009 | January 19, 2010 |
Frequently asked questions about XQB and ZCM
Which ETF has performed better year to date: XQB or ZCM?
As of September 14, 2026, XQB has returned -0.91% year to date, while ZCM has returned -0.27%. ZCM is ahead on YTD performance.
Which ETF is larger by assets under management: XQB or ZCM?
As of September 14, 2026, XQB manages $526.83 M in assets, while ZCM manages $1.47 B. ZCM is the larger fund by AUM.
How are XQB and ZCM managed?
XQB is passively managed by iShares. It tracks the FTSE Canada Liquid Universe Capped Bond TR Index - CAD benchmark. ZCM is passively managed by BMO. It tracks the FTSE Canada Mid Term Corporate Bond Total Return Index - CAD benchmark.
What sectors do XQB and ZCM emphasize?
XQB is most exposed to Finance, Sovereign, and Municipal. ZCM is most exposed to Finance, Energy, and Utilities.
Which ETF is attracting more investor flows: XQB or ZCM?
Year to date, XQB has seen +$22.63 M in net flows, compared with +$189.99 M for ZCM. ZCM has attracted more net investor money so far.
How do the fees of XQB and ZCM compare?
XQB has an expense ratio of 0.13%, while ZCM has an expense ratio of 0.33%.
What are the top holdings of XQB and ZCM?
XQB's largest holdings include Canada, Bonds 3.25% 1dec2035, CAD, Canada, Bonds 2.75% 1sep2030, CAD, and Canada, Bonds 3.25% 1jun2036, CAD. ZCM's top holdings include Brookfield Finance II, 5.431% 14dec2032, CAD, Enbridge, 3.1% 21sep2033, CAD, and TransCanada PipeLines, 4.575% 20feb2035, CAD.
Which ETF is more diversified: XQB or ZCM?
XQB holds 598 securities, while ZCM holds 35. On holdings count, XQB is the more diversified portfolio.
Recent articles about XQB and ZCM
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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.