VS
BMO Aggregate Bond Index ETF (ZAG) and iShares Core S&P/TSX Capped Composite Index ETF (XIC) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZAG focuses its top 3 sector exposures on Municipal, Sovereign, and Government agencies, while XIC leans towards Financials, Energy, and Materials. When evaluating costs, ZAG features a management fee (MER) of 0.08%, compared to 0.05% for XIC. Performance-wise, ZAG has returned 0.9% year-to-date with +$611 M in net flows, whereas XIC is at 9.49% with +$6 B. 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
XIC
| AuM | $12,743.80 M | $29,650.44 M |
| Management Fees | 0.08% | 0.05% |
| Exp. ratio | 0.09% | 0.06% |
| Tracking Difference | - | -0.11% |
Historical performance and flows
As of June 5, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZAG | -0.07% | +0.02% | +0.90% | +3.02% | +13.55% |
XIC | +2.69% | +2.96% | +9.49% | +33.72% | +87.75% | |
| Flows | ZAG | +$571 M | +$631 M | +$611 M | +$1,593 M | +$6,367 M |
XIC | +$363 M | +$2,779 M | +$5,533 M | +$7,652 M | +$11,585 M |
ZAG vs XIC exposure
Countries
ZAG
Canada
99.27%
XIC
Canada
99.06%
Sectors
ZAG
Municipal
28.61%
Sovereign
24.95%
Other
17.41%
Government agencies
9.35%
Other
19.68%
XIC
Financials
29.96%
Energy
17.73%
Materials
14.57%
Other
13.30%
Other
24.44%
As of June 5, 2026
Top 10 Holdings
ZAG
Canada, Bonds 3% 1jun2034, CAD
4.26%
Canada, Bond 2.25 1jun2029 10Y
3.59%
Province of Quebec, 2.75% 1sep2028, CAD (B124)
2.92%
Canada Housing Trust, 1.1% 15mar2031, CAD (95)
2.65%
Canada, Bond 2.75 1dec2048 30Y
2.43%
Province of Quebec, 3.5% 1dec2048, CAD (B117)
2.42%
Canada Housing Trust, 3.55% 15sep2032, CAD (107)
2.21%
Bank of Montreal, 3.19% 1mar2028, CAD
2.20%
Province of Ontario, 2.9% 2jun2028, CAD (DMTN238)
2.20%
CA135087T461
2.20%
XIC
ROYAL BK CANADA
7.02%
TORONTO DOMINION
5.05%
SHOPIFY SUBORDINATE VOTING
4.16%
ENBRIDGE
3.38%
BANK OF MONTREAL
3.00%
CDN IMPERIAL BK
2.89%
CA11271J1075
2.78%
CDN NATURAL RESOURCE
2.78%
BNS
2.68%
AGNICO EAGLE MINES LTD
2.63%
Diversification
ZAG
Total weight of top 10 holdings out of 88 total
27.07%
XIC
Total weight of top 10 holdings out of 221 total
36.37%
Characteristics
Compare
ZAG
XIC
| Provider | BMO | iShares |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Universe Bond TR Index - CAD | S&P/TSX Capped Composite Total Return Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.44% | 2.04% |
| Meets ESG criteria | No | No |
| Inception Date | January 19, 2010 | February 16, 2001 |
Frequently asked questions about ZAG and XIC
Which ETF has performed better year to date: ZAG or XIC?
As of June 5, 2026, ZAG has returned 0.90% year to date, while XIC has returned 9.49%. XIC is ahead on YTD performance.
Which ETF is larger by assets under management: ZAG or XIC?
As of June 5, 2026, ZAG manages $12.74 B in assets, while XIC manages $29.65 B. XIC is the larger fund by AUM.
How are ZAG and XIC managed?
ZAG is passively managed by BMO. It tracks the FTSE Canada Universe Bond TR Index - CAD benchmark. XIC is passively managed by iShares. It tracks the S&P/TSX Capped Composite Total Return Index - CAD benchmark.
What sectors do ZAG and XIC emphasize?
ZAG is most exposed to Municipal, Sovereign, and Government agencies. XIC is most exposed to Financials, Energy, and Materials.
Which ETF is attracting more investor flows: ZAG or XIC?
Year to date, ZAG has seen +$611.11 M in net flows, compared with +$5,532.87 M for XIC. XIC has attracted more net investor money so far.
How do the fees of ZAG and XIC compare?
ZAG has an expense ratio of 0.09%, while XIC has an expense ratio of 0.06%.
What are the top holdings of ZAG and XIC?
ZAG's largest holdings include Canada, Bonds 3% 1jun2034, CAD and Canada, Bond 2.25 1jun2029 10Y. XIC's top holdings include ROYAL BK CANADA and TORONTO DOMINION.
Which ETF is more diversified: ZAG or XIC?
ZAG holds 73 securities, while XIC holds 193. On holdings count, XIC is the more diversified portfolio.
Recent articles about ZAG and XIC
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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.