VS
BMO Aggregate Bond Index ETF (ZAG) and BMO Equal Weight Utilities Index ETF (ZUT) 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 ZUT leans towards Utilities. When evaluating costs, ZAG features a management fee (MER) of 0.08%, compared to 0.55% for ZUT. Performance-wise, ZAG has returned 0.9% year-to-date with +$611 M in net flows, whereas ZUT is at 19.01% with -$67 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
ZUT
| AuM | $12,743.80 M | $891.48 M |
| Management Fees | 0.08% | 0.55% |
| Exp. ratio | 0.09% | 0.61% |
| Tracking Difference | - | -0.90% |
Historical performance and flows
As of June 8, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZAG | -0.07% | +0.02% | +0.90% | +3.02% | +13.55% |
ZUT | +2.79% | +9.35% | +19.01% | +28.50% | +44.66% | |
| Flows | ZAG | +$571 M | +$631 M | +$611 M | +$1,593 M | +$6,367 M |
ZUT | -$4 M | +$16 M | -$67 M | +$134 M | +$240 M |
ZAG vs ZUT exposure
Countries
ZAG
Canada
99.27%
ZUT
Canada
85.23%
Bermuda
14.77%
Sectors
ZAG
Municipal
28.61%
Sovereign
24.95%
Other
17.41%
Government agencies
9.35%
Other
19.68%
ZUT
Utilities
100.00%
As of June 8, 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%
ZUT
BORALEX
10.04%
NORTHLAND POWER
8.09%
ALTAGAS
8.08%
BROOKFIELD RENEWABLE PARTNERS
7.87%
ATCO
7.62%
CAPITAL POWER
7.57%
EMERA
7.48%
ALGONQUIN POWER
7.47%
CANADIAN UTILITIES
7.43%
FORTIS
7.23%
Diversification
ZAG
Total weight of top 10 holdings out of 88 total
27.07%
ZUT
Total weight of top 10 holdings out of 13 total
78.87%
Characteristics
Compare
ZAG
ZUT
| Provider | BMO | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Universe Bond TR Index - CAD | Solactive Equal Weight Canada Utilities 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% | 2.80% |
| Meets ESG criteria | No | No |
| Inception Date | January 19, 2010 | January 19, 2010 |
Frequently asked questions about ZAG and ZUT
Which ETF has performed better year to date: ZAG or ZUT?
As of June 8, 2026, ZAG has returned 0.90% year to date, while ZUT has returned 19.01%. ZUT is ahead on YTD performance.
Which ETF is larger by assets under management: ZAG or ZUT?
As of June 8, 2026, ZAG manages $12.74 B in assets, while ZUT manages $891.48 M. ZAG is the larger fund by AUM.
How are ZAG and ZUT managed?
ZAG is passively managed by BMO. It tracks the FTSE Canada Universe Bond TR Index - CAD benchmark. ZUT is passively managed by BMO. It tracks the Solactive Equal Weight Canada Utilities Total Return Index - CAD benchmark.
What sectors do ZAG and ZUT emphasize?
ZAG is most exposed to Municipal, Sovereign, and Government agencies. ZUT is most exposed to Utilities.
Which ETF is attracting more investor flows: ZAG or ZUT?
Year to date, ZAG has seen +$611.11 M in net flows, compared with -$67.36 M for ZUT. ZAG has attracted more net investor money so far.
How do the fees of ZAG and ZUT compare?
ZAG has an expense ratio of 0.09%, while ZUT has an expense ratio of 0.61%.
What are the top holdings of ZAG and ZUT?
ZAG's largest holdings include Canada, Bonds 3% 1jun2034, CAD and Canada, Bond 2.25 1jun2029 10Y. ZUT's top holdings include BORALEX, NORTHLAND POWER, and ALTAGAS.
Which ETF is more diversified: ZAG or ZUT?
ZAG holds 73 securities, while ZUT holds 13. On holdings count, ZAG is the more diversified portfolio.
Recent articles about ZAG and ZUT
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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.