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BMO Corporate Discount Bond ETF (ZCDB) and BMO Discount Bond Index ETF (ZDB) 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 ZDB leans towards Sovereign, Municipal, and Finance. When evaluating costs, ZCDB features a management fee (MER) of 0.15%, compared to 0.09% for ZDB. Performance-wise, ZCDB has returned 0.79% year-to-date with +$275 M in net flows, whereas ZDB is at 0.62% with +$275 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
ZDB
| AuM | $327.62 M | $1,400.13 M |
| Management Fees | 0.15% | 0.09% |
| Exp. ratio | 0.17% | 0.10% |
| Tracking Difference | - | - |
Historical performance and flows
As of October 19, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZCDB | -0.02% | -0.49% | +0.79% | +0.43% | +19.71% |
ZDB | -0.39% | -1.46% | -0.62% | -1.84% | +15.34% | |
| Flows | ZCDB | +$267 M | +$252 M | +$275 M | +$291 M | +$288 M |
ZDB | +$18 M | +$96 M | +$275 M | +$588 M | +$548 M |
ZCDB vs ZDB exposure
Countries
ZCDB
Canada
100.00%
ZDB
Canada
100.00%
Sectors
ZCDB
Finance
60.50%
Energy
14.51%
Telecommunications
8.46%
Other
16.54%
ZDB
Sovereign
33.39%
Municipal
31.40%
Finance
11.58%
Government Agencies
9.96%
Other
13.67%
As of October 19, 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%
ZDB
Canada, Bond 0.5 1oct2030 10Y
18.56%
CMHC, 1.9% 15mar2031, CAD (100)
6.30%
Sun Life Financial, 2.06% 1oct2035, CAD (2020-2)
5.65%
Province of Quebec, 1.5% 1sep2031, CAD (B128)
5.50%
Province of Ontario, 2.05% 2jun2030, CAD (DMTN243)
5.13%
Province of Ontario, 2.65% 2dec2050, CAD (DMTN242)
5.06%
Canada, Bonds 2.25% 1dec2029, CAD
4.57%
Toronto-Dominion Bank, 1.896% 11sep2028, CAD
3.27%
Canada, Bonds 2% 1jun2032, CAD
3.11%
Pembina Pipeline Corporation, 3.31% 1feb2030, CAD (15)
2.65%
Diversification
ZCDB
Total weight of top 10 holdings out of 25 total
65.87%
ZDB
Total weight of top 10 holdings out of 45 total
59.81%
Characteristics
Compare
ZCDB
ZDB
| Provider | BMO | BMO |
| Management | Actively managed | Passively managed |
| Benchmark | - | FTSE Canada Universe Discount Bond Index - CAD |
| Replication Method | - | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.08% | 1.84% |
| Meets ESG criteria | No | No |
| Inception Date | January 17, 2022 | February 10, 2014 |
Frequently asked questions about ZCDB and ZDB
Which ETF has performed better year to date: ZCDB or ZDB?
As of October 19, 2026, ZCDB has returned 0.79% year to date, while ZDB has returned -0.62%. ZCDB is ahead on YTD performance.
Which ETF is larger by assets under management: ZCDB or ZDB?
As of October 19, 2026, ZCDB manages $327.62 M in assets, while ZDB manages $1.40 B. ZDB is the larger fund by AUM.
How are ZCDB and ZDB managed?
ZCDB is actively managed by BMO. It does not track an index. ZDB is passively managed by BMO. It tracks the FTSE Canada Universe Discount Bond Index - CAD benchmark.
What sectors do ZCDB and ZDB emphasize?
ZCDB is most exposed to Finance, Energy, and Telecommunications. ZDB is most exposed to Sovereign, Municipal, and Finance.
Which ETF is attracting more investor flows: ZCDB or ZDB?
Year to date, ZCDB has seen +$274.99 M in net flows, compared with +$275.25 M for ZDB. ZDB has attracted more net investor money so far.
How do the fees of ZCDB and ZDB compare?
ZCDB has an expense ratio of 0.17%, while ZDB has an expense ratio of 0.10%.
What are the top holdings of ZCDB and ZDB?
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. ZDB's top holdings include Canada, Bond 0.5 1oct2030 10Y, CMHC, 1.9% 15mar2031, CAD (100), and Sun Life Financial, 2.06% 1oct2035, CAD (2020-2).
Which ETF is more diversified: ZCDB or ZDB?
ZCDB holds 25 securities, while ZDB holds 45. On holdings count, ZDB is the more diversified portfolio.
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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.