VS
Compare iShares Canadian Short Term Bond Index ETF (XSB) vs BMO Short-Term Bond Index ETF (ZSB) to find the best fit for your portfolio. XSB and ZSB provide the same top sector exposures: Sovereign, Municipal, and Banks. When evaluating costs, XSB features a management fee (MER) of 0.09%, compared to 0.09% for ZSB. Performance-wise, XSB has returned 0.54% year-to-date with +$465 M in net flows, whereas ZSB is at 0.46% with +$12 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
XSB
ZSB
| AuM | $4,016.34 M | $168.61 M |
| Management Fees | 0.09% | 0.09% |
| Exp. ratio | 0.10% | 0.10% |
| Tracking Difference | - | - |
Historical performance and flows
As of April 27, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XSB | +0.69% | +0.18% | +0.54% | +2.79% | +13.45% |
ZSB | +0.40% | +0.10% | +0.46% | +2.72% | +13.00% | |
| Flows | XSB | +$107 M | +$409 M | +$465 M | +$1,133 M | +$1,477 M |
ZSB | +$1 M | +$11 M | +$12 M | +$37 M | -$21 M |
XSB vs ZSB exposure
Countries
XSB
Canada
98.71%
ZSB
Canada
100.00%
Sectors
XSB
Other
27.12%
Sovereign
21.41%
Municipal
14.78%
Banks
9.86%
Government agencies
8.78%
Other
18.06%
ZSB
Sovereign
35.06%
Municipal
16.14%
Banks
13.66%
Government agencies
12.41%
Other
9.15%
Other
13.59%
As of April 27, 2026
Top 10 Holdings
XSB
CA135087T792
3.74%
CA135087T388
3.56%
Canada, Bonds 2.75% 1mar2030, CAD
2.77%
Canada, Bonds 3.5% 1sep2029, CAD
2.65%
CA135087T610
2.56%
CA135087T461
2.56%
CA135087T958
2.54%
Canada, Bonds 4% 1mar2029, CAD
2.44%
Canada, Bonds 2.75% 1may2027, CAD
2.15%
Canada, Bond 1.25 1jun2030 10Y
2.14%
ZSB
Canada, Bonds 4% 1mar2029, CAD
7.40%
Canada, Bonds 3.25% 1sep2028, CAD
6.22%
Canada, Bonds 3.5% 1sep2029, CAD
5.22%
Canada, Bonds 3.5% 1mar2028, CAD
5.20%
Canada, Bonds 2.75% 1mar2030, CAD
5.08%
Canada, Bonds 2.75% 1sep2027, CAD
4.11%
Canada Housing Trust, 3.95% 15jun2028, CAD (115)
3.15%
Province of Ontario, 2.9% 2jun2028, CAD (DMTN238)
3.08%
Canada Housing Trust, 2.9% 15dec2029, CAD (123)
3.06%
CMHC, 2.65% 15dec2028, CAD (85)
3.06%
Diversification
XSB
Total weight of top 10 holdings out of 738 total
27.12%
ZSB
Total weight of top 10 holdings out of 56 total
45.58%
Characteristics
Compare
XSB
ZSB
| Provider | iShares | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Short Term Overall Bond TR Index - CAD | FTSE Canada Short Term Overall Bond TR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.13% | 3.19% |
| Meets ESG criteria | No | No |
| Inception Date | November 20, 2000 | March 7, 2018 |
Frequently asked questions about XSB and ZSB
Which ETF has performed better year to date: XSB or ZSB?
As of April 27, 2026, XSB has returned 0.54% year to date, while ZSB has returned 0.46%. XSB is ahead on YTD performance.
Which ETF is larger by assets under management: XSB or ZSB?
As of April 27, 2026, XSB manages $4.02 B in assets, while ZSB manages $168.61 M. XSB is the larger fund by AUM.
How are XSB and ZSB managed?
XSB is passively managed by iShares. It tracks the FTSE Canada Short Term Overall Bond TR Index - CAD benchmark. ZSB is passively managed by BMO. It tracks the FTSE Canada Short Term Overall Bond TR Index - CAD benchmark.
What sectors do XSB and ZSB emphasize?
XSB is most exposed to Sovereign, Municipal, and Banks. ZSB is most exposed to Sovereign, Municipal, and Banks.
Which ETF is attracting more investor flows: XSB or ZSB?
Year to date, XSB has seen +$465.37 M in net flows, compared with +$11.77 M for ZSB. XSB has attracted more net investor money so far.
How do the fees of XSB and ZSB compare?
XSB has an expense ratio of 0.10%, while ZSB has an expense ratio of 0.10%.
What are the top holdings of XSB and ZSB?
XSB's largest holdings include Canada, Bonds 2.75% 1mar2030, CAD and Canada, Bonds 3.5% 1sep2029, CAD. ZSB's top holdings include Canada, Bonds 4% 1mar2029, CAD and Canada, Bonds 3.25% 1sep2028, CAD.
Which ETF is more diversified: XSB or ZSB?
XSB holds 572 securities, while ZSB holds 49. On holdings count, XSB is the more diversified portfolio.
Recent articles about XSB and ZSB
Divergence in Canadian & US Yields
How can ETF investors take advantage of diverging yields between Canada and the U.S?
Posted on 1/31/2023 by ETF Market Canada inGlobal Markets
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