VS
BMO Aggregate Bond Index ETF (ZAG) and RBC Target 2030 Canadian Corporate Bond Index ETF (RQS) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZAG focuses its top 3 sector exposures on Sovereign, Municipal, and Finance, while RQS leans towards Finance, Energy, and Utilities. When evaluating costs, ZAG features a management fee (MER) of 0.08%, compared to 0.2% for RQS. Performance-wise, ZAG has returned 0.63% year-to-date with +$1 B in net flows, whereas RQS is at 0.92% with +$185 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
ZAG
RQS
| AuM | $13,241.41 M | $487.01 M |
| Management Fees | 0.08% | 0.20% |
| Exp. ratio | 0.09% | 0.22% |
| Tracking Difference | - | - |
Historical performance and flows
As of October 30, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZAG | +1.49% | -0.34% | +0.63% | -0.33% | +15.82% |
RQS | +0.67% | -0.36% | +0.92% | +0.68% | - | |
| Flows | ZAG | +$140 M | +$269 M | +$1,332 M | +$1,985 M | +$7,383 M |
RQS | +$26 M | +$75 M | +$185 M | +$194 M | - |
ZAG vs RQS exposure
Countries
ZAG
Canada
95.65%
RQS
Canada
95.83%
Sectors
ZAG
Sovereign
34.55%
Municipal
30.80%
Finance
11.12%
Government Agencies
9.39%
Other
14.14%
RQS
Finance
73.21%
Energy
9.80%
Utilities
7.40%
Other
9.59%
As of October 30, 2026
Top 10 Holdings
ZAG
Canada, Bonds 3% 1jun2034, CAD
4.26%
Canada, Bonds 2.5% 1nov2027, CAD
3.74%
Canada, Bonds 2.25% 1feb2028, CAD
2.97%
Canada, Bond 2.25 1jun2029 10Y
2.92%
Canada, Bonds 2.75% 1dec2055, CAD
2.80%
Canada Housing Trust, 1.1% 15mar2031, CAD (95)
2.69%
Province of Quebec, 3.5% 1dec2048, CAD (B117)
2.35%
Bank of Montreal, 3.19% 1mar2028, CAD
2.25%
Province of Quebec, 2.75% 1sep2028, CAD (B124)
2.23%
Canada, Bonds 2.75% 1mar2030, CAD
2.20%
RQS
Royal Bank of Canada, 3.985% 22jul2031, CAD
6.73%
Toronto-Dominion Bank, 3.605% 10sep2031, CAD
5.02%
Bank of Montreal, 3.731% 3jun2031, CAD
4.98%
Bank of Nova Scotia, 3.734% 27jun2031, CAD
4.86%
Toronto-Dominion Bank, 3.842% 29may2031, CAD
4.57%
CIBC, 3.9% 20jun2031, CAD
4.26%
Athene Global Funding, 4.091% 23may2030, CAD (2025-15)
4.16%
National Bank of Canada, 3.441% 21oct2031, CAD
3.30%
Manulife Financial Corporation, 2.818% 13may2035, CAD
3.22%
TransCanada PipeLines, 5.277% 15jul2030, CAD
3.13%
Diversification
ZAG
Total weight of top 10 holdings out of 86 total
28.40%
RQS
Total weight of top 10 holdings out of 42 total
44.23%
Characteristics
Compare
ZAG
RQS
| Provider | BMO | RBC Global Asset Management |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Universe Bond TR Index - CAD | FTSE Canada 2030 Maturity Corporate Bond Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.45% | 3.72% |
| Meets ESG criteria | No | No |
| Inception Date | January 19, 2010 | April 24, 2024 |
Frequently asked questions about ZAG and RQS
Which ETF has performed better year to date: ZAG or RQS?
As of October 30, 2026, ZAG has returned 0.63% year to date, while RQS has returned 0.92%. RQS is ahead on YTD performance.
Which ETF is larger by assets under management: ZAG or RQS?
As of October 30, 2026, ZAG manages $13.24 B in assets, while RQS manages $487.01 M. ZAG is the larger fund by AUM.
How are ZAG and RQS managed?
ZAG is passively managed by BMO. It tracks the FTSE Canada Universe Bond TR Index - CAD benchmark. RQS is passively managed by RBC Global Asset Management. It tracks the FTSE Canada 2030 Maturity Corporate Bond Index - CAD benchmark.
What sectors do ZAG and RQS emphasize?
ZAG is most exposed to Sovereign, Municipal, and Finance. RQS is most exposed to Finance, Energy, and Utilities.
Which ETF is attracting more investor flows: ZAG or RQS?
Year to date, ZAG has seen +$1,331.57 M in net flows, compared with +$185.47 M for RQS. ZAG has attracted more net investor money so far.
How do the fees of ZAG and RQS compare?
ZAG has an expense ratio of 0.09%, while RQS has an expense ratio of 0.22%.
What are the top holdings of ZAG and RQS?
ZAG's largest holdings include Canada, Bonds 3% 1jun2034, CAD, Canada, Bonds 2.5% 1nov2027, CAD, and Canada, Bonds 2.25% 1feb2028, CAD. RQS's top holdings include Royal Bank of Canada, 3.985% 22jul2031, CAD, Toronto-Dominion Bank, 3.605% 10sep2031, CAD, and Bank of Montreal, 3.731% 3jun2031, CAD.
Which ETF is more diversified: ZAG or RQS?
ZAG holds 86 securities, while RQS holds 42. On holdings count, ZAG is the more diversified portfolio.
Recent articles about ZAG and RQS
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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.