VS
BMO Aggregate Bond Index ETF (ZAG) and BMO Equal Weight Banks Index ETF (ZEB) 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 ZEB leans towards Financials. When evaluating costs, ZAG features a management fee (MER) of 0.08%, compared to 0.25% for ZEB. Performance-wise, ZAG has returned 1.77% year-to-date with +$674 M in net flows, whereas ZEB is at 25.29% with -$1,134 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
ZEB
| AuM | $12,916.30 M | $5,581.28 M |
| Management Fees | 0.08% | 0.25% |
| Exp. ratio | 0.09% | 0.28% |
| Tracking Difference | - | -0.62% |
Historical performance and flows
As of June 12, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZAG | +1.52% | +2.00% | +1.77% | +3.72% | +14.08% |
ZEB | +8.46% | +23.65% | +25.29% | +67.84% | +147.83% | |
| Flows | ZAG | +$611 M | +$647 M | +$674 M | +$1,692 M | +$6,426 M |
ZEB | -$103 M | -$237 M | -$1,134 M | -$935 M | -$1,914 M |
ZAG vs ZEB exposure
Countries
ZAG
Canada
99.27%
ZEB
Canada
100.00%
Sectors
ZAG
Municipal
28.61%
Sovereign
24.95%
Other
17.41%
Government agencies
9.35%
Other
19.68%
ZEB
Financials
100.00%
As of June 12, 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%
ZEB
TORONTO DOMINION
17.02%
CDN IMPERIAL BK
16.89%
NATIONAL BANK OF CANADA
16.73%
ROYAL BK CANADA
16.71%
BNS
16.37%
BANK OF MONTREAL
16.28%
Diversification
ZAG
Total weight of top 10 holdings out of 88 total
27.07%
ZEB
Total weight of top 10 holdings out of 6 total
100.00%
Characteristics
Compare
ZAG
ZEB
| Provider | BMO | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Universe Bond TR Index - CAD | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.41% | 2.41% |
| Meets ESG criteria | No | No |
| Inception Date | January 19, 2010 | October 20, 2009 |
Frequently asked questions about ZAG and ZEB
Which ETF has performed better year to date: ZAG or ZEB?
As of June 12, 2026, ZAG has returned 1.77% year to date, while ZEB has returned 25.29%. ZEB is ahead on YTD performance.
Which ETF is larger by assets under management: ZAG or ZEB?
As of June 12, 2026, ZAG manages $12.92 B in assets, while ZEB manages $5.58 B. ZAG is the larger fund by AUM.
How are ZAG and ZEB managed?
ZAG is passively managed by BMO. It tracks the FTSE Canada Universe Bond TR Index - CAD benchmark. ZEB is passively managed by BMO. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do ZAG and ZEB emphasize?
ZAG is most exposed to Municipal, Sovereign, and Government agencies. ZEB is most exposed to Financials.
Which ETF is attracting more investor flows: ZAG or ZEB?
Year to date, ZAG has seen +$673.77 M in net flows, compared with -$1,133.77 M for ZEB. ZAG has attracted more net investor money so far.
How do the fees of ZAG and ZEB compare?
ZAG has an expense ratio of 0.09%, while ZEB has an expense ratio of 0.28%.
What are the top holdings of ZAG and ZEB?
ZAG's largest holdings include Canada, Bonds 3% 1jun2034, CAD and Canada, Bond 2.25 1jun2029 10Y. ZEB's top holdings include TORONTO DOMINION, CDN IMPERIAL BK, and NATIONAL BANK OF CANADA.
Which ETF is more diversified: ZAG or ZEB?
ZAG holds 73 securities, while ZEB holds 6. On holdings count, ZAG is the more diversified portfolio.
Recent articles about ZAG and ZEB
Bank Stocks: An Undervalued Gem?
Bank stocks are poised for growth amid declining inflation and rate cuts.
Posted on 7/29/2024 by ETF Market Canada inBanks
The ETF Market Canada is brought to you by Cboe in partnership with Trackinsight SA who is providing all the data, analysis and editorial content on this site. Unless explicitly stated as such, any information that you receive is not real-time.
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.
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.