VS
iShares Core Canadian 1-10 Year Bond Index ETF (XSMB) and BMO Short Corporate Bond Index ETF (ZCS) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XSMB focuses its top 3 sector exposures on Sovereign, Municipal, and Finance, while ZCS leans towards Finance, Energy, and Utilities. When evaluating costs, XSMB features a management fee (MER) of 0.15%, compared to 0.1% for ZCS. Performance-wise, XSMB has returned 0.6% year-to-date with +$0 M in net flows, whereas ZCS is at 1.41% with +$369 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
XSMB
ZCS
| AuM | $9.84 M | $4,640.01 M |
| Management Fees | 0.15% | 0.10% |
| Exp. ratio | 0.17% | 0.11% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 3, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XSMB | -0.77% | -0.57% | +0.60% | +1.74% | - |
ZCS | -0.23% | +0.12% | +1.41% | +2.72% | +18.81% | |
| Flows | XSMB | +$0 M | +$0 M | +$0 M | -$2 M | - |
ZCS | -$109 M | +$315 M | +$369 M | +$295 M | +$3,238 M |
XSMB vs ZCS exposure
Countries
XSMB
Canada
96.97%
ZCS
Canada
97.13%
Sectors
XSMB
Sovereign
39.05%
Municipal
21.64%
Finance
16.88%
Government Agencies
9.65%
Other
12.78%
ZCS
Finance
65.66%
Energy
13.19%
Other
21.15%
As of September 3, 2026
Top 10 Holdings
XSMB
Canada, Bonds 4% 1mar2029, CAD
3.15%
Canada, Bond 0.5 1oct2030 10Y
2.48%
Canada, Bonds 3.25% 1dec2035, CAD
2.47%
Canada, Bonds 2.75% 1sep2027, CAD
2.19%
Canada, Bonds 3% 1jun2034, CAD
2.06%
Canada, Bond 1.5 1jun2031 10Y
2.05%
CPPIB Capital, 3.6% 2jun2029, CAD (61)
2.05%
Canada, Bonds 2.75% 1jun2033, CAD
2.05%
Canada, Bonds 2.25% 1feb2028, CAD
2.02%
Canada, Bonds 2.5% 1may2028, CAD
2.02%
ZCS
Bank of Montreal, 3.19% 1mar2028, CAD
6.51%
Toronto-Dominion Bank, 4.477% 18jan2028, CAD
5.14%
Royal Bank of Canada, 3.985% 22jul2031, CAD
5.09%
CIBC, 3.8% 10dec2030, CAD
4.34%
Royal Bank of Canada, 4.14% 5may2036, CAD (31)
4.32%
Toronto-Dominion Bank, 3.605% 10sep2031, CAD
4.29%
TransCanada PipeLines, 5.277% 15jul2030, CAD
3.79%
Royal Bank of Canada, 4.829% 8aug2034, CAD (28)
3.71%
Royal Bank of Canada, 4.632% 1may2028, CAD
3.69%
RBC Capital Markets, 4% 17oct2030, CAD
3.64%
Diversification
XSMB
Total weight of top 10 holdings out of 304 total
22.54%
ZCS
Total weight of top 10 holdings out of 46 total
44.53%
Characteristics
Compare
XSMB
ZCS
| Provider | iShares | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Short-Mid Universe Bond GTR Index - CAD | FTSE TMX Canada Short Term Corporate Bond Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.46% | 4.01% |
| Meets ESG criteria | No | No |
| Inception Date | May 28, 2025 | October 20, 2009 |
Frequently asked questions about XSMB and ZCS
Which ETF has performed better year to date: XSMB or ZCS?
As of September 3, 2026, XSMB has returned 0.60% year to date, while ZCS has returned 1.41%. ZCS is ahead on YTD performance.
Which ETF is larger by assets under management: XSMB or ZCS?
As of September 3, 2026, XSMB manages $9.84 M in assets, while ZCS manages $4.64 B. ZCS is the larger fund by AUM.
How are XSMB and ZCS managed?
XSMB is passively managed by iShares. It tracks the FTSE Canada Short-Mid Universe Bond GTR Index - CAD benchmark. ZCS is passively managed by BMO. It tracks the FTSE TMX Canada Short Term Corporate Bond Index - CAD benchmark.
What sectors do XSMB and ZCS emphasize?
XSMB is most exposed to Sovereign, Municipal, and Finance. ZCS is most exposed to Finance, Energy, and Utilities.
Which ETF is attracting more investor flows: XSMB or ZCS?
Year to date, XSMB has seen +$0.00 M in net flows, compared with +$369.10 M for ZCS. ZCS has attracted more net investor money so far.
How do the fees of XSMB and ZCS compare?
XSMB has an expense ratio of 0.17%, while ZCS has an expense ratio of 0.11%.
What are the top holdings of XSMB and ZCS?
XSMB's largest holdings include Canada, Bonds 4% 1mar2029, CAD, Canada, Bond 0.5 1oct2030 10Y, and Canada, Bonds 3.25% 1dec2035, CAD. ZCS's top holdings include Bank of Montreal, 3.19% 1mar2028, CAD, Toronto-Dominion Bank, 4.477% 18jan2028, CAD, and Royal Bank of Canada, 3.985% 22jul2031, CAD.
Which ETF is more diversified: XSMB or ZCS?
XSMB holds 304 securities, while ZCS holds 46. On holdings count, XSMB is the more diversified portfolio.
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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.