VS
iShares Core High Quality Canadian Bond Index ETF (XQB) and BMO Long Corporate Bond Index ETF (ZLC) 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 ZLC leans towards Utilities, Energy, and Industrials. When evaluating costs, XQB features a management fee (MER) of 0.12%, compared to 0.3% for ZLC. Performance-wise, XQB has returned 0.91% year-to-date with +$23 M in net flows, whereas ZLC is at 3.01% with -$170 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
ZLC
| AuM | $526.83 M | $270.28 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% |
ZLC | -2.08% | -5.31% | -3.01% | -2.71% | +14.64% | |
| Flows | XQB | +$4 M | +$6 M | +$23 M | +$46 M | +$209 M |
ZLC | -$2 M | -$7 M | -$170 M | -$226 M | -$16 M |
XQB vs ZLC exposure
Countries
XQB
Canada
93.42%
ZLC
Canada
94.85%
Sectors
XQB
Finance
28.20%
Sovereign
27.73%
Municipal
22.89%
Other
21.18%
ZLC
Utilities
33.61%
Energy
23.37%
Industrials
22.94%
Telecommunications
10.81%
Other
9.27%
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%
ZLC
Hydro One Inc, 4.85% 30nov2054, CAD (58)
9.17%
CU Inc., 4.085% 2sep2044, CAD
4.87%
Pembina Pipeline Corporation, 5.67% 12jan2054, CAD (22)
4.15%
Amazon.com, 5% 12jun2056, CAD
3.86%
Greater Toronto Airports Authority, 3.26% 1jun2037, CAD (2018-1)
3.71%
Enbridge, 4.24% 27aug2042, CAD
3.61%
TransCanada PipeLines, 4.34% 15oct2049, CAD
3.47%
Greater Toronto Airports Authority, 2.75% 17oct2039, CAD (2019-2)
3.38%
Rogers Communications, 6.75% 9nov2039, CAD
3.10%
Greater Toronto Airports Authority, 5.3% 25feb2041, CAD (2011-1)
2.91%
Diversification
XQB
Total weight of top 10 holdings out of 598 total
11.12%
ZLC
Total weight of top 10 holdings out of 41 total
42.24%
Characteristics
Compare
XQB
ZLC
| Provider | iShares | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Liquid Universe Capped Bond TR Index - CAD | FTSE Canada Long Term Corporate Bond TR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.54% | 4.83% |
| Meets ESG criteria | No | No |
| Inception Date | November 19, 2009 | January 19, 2010 |
Frequently asked questions about XQB and ZLC
Which ETF has performed better year to date: XQB or ZLC?
As of September 14, 2026, XQB has returned -0.91% year to date, while ZLC has returned -3.01%. XQB is ahead on YTD performance.
Which ETF is larger by assets under management: XQB or ZLC?
As of September 14, 2026, XQB manages $526.83 M in assets, while ZLC manages $270.28 M. XQB is the larger fund by AUM.
How are XQB and ZLC managed?
XQB is passively managed by iShares. It tracks the FTSE Canada Liquid Universe Capped Bond TR Index - CAD benchmark. ZLC is passively managed by BMO. It tracks the FTSE Canada Long Term Corporate Bond TR Index - CAD benchmark.
What sectors do XQB and ZLC emphasize?
XQB is most exposed to Finance, Sovereign, and Municipal. ZLC is most exposed to Utilities, Energy, and Industrials.
Which ETF is attracting more investor flows: XQB or ZLC?
Year to date, XQB has seen +$22.63 M in net flows, compared with -$170.26 M for ZLC. XQB has attracted more net investor money so far.
How do the fees of XQB and ZLC compare?
XQB has an expense ratio of 0.13%, while ZLC has an expense ratio of 0.33%.
What are the top holdings of XQB and ZLC?
XQB's largest holdings include Canada, Bonds 3.25% 1dec2035, CAD, Canada, Bonds 2.75% 1sep2030, CAD, and Canada, Bonds 3.25% 1jun2036, CAD. ZLC's top holdings include Hydro One Inc, 4.85% 30nov2054, CAD (58), CU Inc., 4.085% 2sep2044, CAD, and Pembina Pipeline Corporation, 5.67% 12jan2054, CAD (22).
Which ETF is more diversified: XQB or ZLC?
XQB holds 598 securities, while ZLC holds 41. On holdings count, XQB is the more diversified portfolio.
Recent articles about XQB and ZLC
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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.