VS
BMO Corporate Discount Bond ETF (ZCDB) and NBI Sustainable Canadian Bond ETF (NSCB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZCDB focuses its top 3 sector exposures on Finance, Energy, and Telecommunications, while NSCB leans towards Finance, Sovereign, and Utilities. When evaluating costs, ZCDB features a management fee (MER) of 0.15%, compared to 0.63% for NSCB. Performance-wise, ZCDB has returned 0.88% year-to-date with +$275 M in net flows, whereas NSCB is at 2.7% with +$39 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
ZCDB
NSCB
| AuM | $327.92 M | $2,802.47 M |
| Management Fees | 0.15% | 0.63% |
| Exp. ratio | 0.17% | 0.61% |
| Tracking Difference | - | - |
Historical performance and flows
As of October 20, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZCDB | +0.07% | -0.40% | +0.88% | +0.52% | +19.47% |
NSCB | -0.39% | -2.01% | -2.70% | -4.86% | +5.61% | |
| Flows | ZCDB | +$267 M | +$252 M | +$275 M | +$291 M | +$288 M |
NSCB | +$1 M | +$43 M | +$39 M | +$52 M | +$913 M |
ZCDB vs NSCB exposure
Countries
ZCDB
Canada
100.00%
NSCB
Canada
94.79%
Sectors
ZCDB
Finance
60.50%
Energy
14.51%
Telecommunications
8.46%
Other
16.54%
NSCB
Finance
28.83%
Sovereign
19.54%
Utilities
19.38%
Municipal
16.63%
Industrials
7.35%
Other
8.27%
As of October 20, 2026
Top 10 Holdings
ZCDB
Sun Life Financial, 2.06% 1oct2035, CAD (2020-2)
9.59%
Toronto-Dominion Bank, 1.896% 11sep2028, CAD
8.75%
Enbridge, 3.1% 21sep2033, CAD
6.55%
Sun Life Financial, 2.8% 21nov2033, CAD (2021-2)
6.30%
Royal Bank of Canada, 1.833% 31jul2028, CAD
6.27%
CGI Inc., 2.1% 18sep2028, CAD
6.23%
North West Redwater Partnership, 2.8% 1jun2031, CAD (N)
6.11%
Allied Properties REIT, 3.095% 6feb2032, CAD
5.82%
Intact Financial, 1.928% 16dec2030, CAD
5.43%
TELUS, 2.05% 7oct2030, CAD
4.81%
NSCB
Canada, Bonds 3.5% 1mar2034, CAD
9.82%
Canada, Bonds 3.25% 1mar2036, CAD
4.47%
Hydro-Quebec, 5% 15feb2050, CAD (JN)
3.20%
Canada, Bonds 3.5% 1dec2056, CAD (D)
2.72%
Province of Ontario, 4.1% 7oct2054, CAD (DMTN267)
2.62%
Canada, Bonds 3% 1mar2032, CAD (C)
2.53%
PSP Capital, 4.4% 2dec2030, CAD (G-13)
2.49%
PSP Capital, 2.6% 1mar2032, CAD (G-4)
2.40%
Hydro-Quebec, 4% 15feb2055, CAD (JQ)
2.29%
Province of Ontario, FRN 19nov2030, CAD (DMTN274)
2.19%
Diversification
ZCDB
Total weight of top 10 holdings out of 25 total
65.87%
NSCB
Total weight of top 10 holdings out of 158 total
34.72%
Characteristics
Compare
ZCDB
NSCB
| Provider | BMO | National Bank Investments |
| Management | Actively managed | Actively managed |
| Benchmark | - | - |
| Replication Method | - | - |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.08% | 0.00% |
| Meets ESG criteria | No | Yes |
| Inception Date | January 17, 2022 | January 23, 2020 |
Frequently asked questions about ZCDB and NSCB
Which ETF has performed better year to date: ZCDB or NSCB?
As of October 20, 2026, ZCDB has returned 0.88% year to date, while NSCB has returned -2.70%. ZCDB is ahead on YTD performance.
Which ETF is larger by assets under management: ZCDB or NSCB?
As of October 20, 2026, ZCDB manages $327.92 M in assets, while NSCB manages $2.80 B. NSCB is the larger fund by AUM.
How are ZCDB and NSCB managed?
ZCDB is actively managed by BMO. It does not track an index. NSCB is actively managed by National Bank Investments. It does not track an index.
What sectors do ZCDB and NSCB emphasize?
ZCDB is most exposed to Finance, Energy, and Telecommunications. NSCB is most exposed to Finance, Sovereign, and Utilities.
Which ETF is attracting more investor flows: ZCDB or NSCB?
Year to date, ZCDB has seen +$274.99 M in net flows, compared with +$39.15 M for NSCB. ZCDB has attracted more net investor money so far.
How do the fees of ZCDB and NSCB compare?
ZCDB has an expense ratio of 0.17%, while NSCB has an expense ratio of 0.61%.
What are the top holdings of ZCDB and NSCB?
ZCDB's largest holdings include Sun Life Financial, 2.06% 1oct2035, CAD (2020-2), Toronto-Dominion Bank, 1.896% 11sep2028, CAD, and Enbridge, 3.1% 21sep2033, CAD. NSCB's top holdings include Canada, Bonds 3.5% 1mar2034, CAD, Canada, Bonds 3.25% 1mar2036, CAD, and Hydro-Quebec, 5% 15feb2050, CAD (JN).
Which ETF is more diversified: ZCDB or NSCB?
ZCDB holds 25 securities, while NSCB holds 152. On holdings count, NSCB is the more diversified portfolio.
Recent articles about ZCDB and NSCB
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