VS
BMO Mid Corporate Bond Index ETF (ZCM) and iShares Core High Quality Canadian Bond Index ETF (XQB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZCM focuses its top 3 sector exposures on Finance, Energy, and Utilities, while XQB leans towards Finance, Sovereign, and Municipal. When evaluating costs, ZCM features a management fee (MER) of 0.3%, compared to 0.12% for XQB. Performance-wise, ZCM has returned 0.09% year-to-date with +$199 M in net flows, whereas XQB is at 0.72% with +$23 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
ZCM
XQB
| AuM | $1,480.81 M | $527.81 M |
| Management Fees | 0.30% | 0.12% |
| Exp. ratio | 0.33% | 0.13% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 16, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZCM | -1.11% | -2.35% | -0.09% | +0.19% | +21.51% |
XQB | -0.98% | -2.44% | -0.72% | -0.89% | +13.16% | |
| Flows | ZCM | +$10 M | +$85 M | +$199 M | +$277 M | +$1,003 M |
XQB | +$4 M | +$6 M | +$23 M | +$46 M | +$209 M |
ZCM vs XQB exposure
Countries
ZCM
Canada
91.78%
Other
8.22%
XQB
Canada
93.42%
Sectors
ZCM
Finance
36.98%
Energy
29.75%
Utilities
13.50%
Telecommunications
13.41%
XQB
Finance
28.20%
Sovereign
27.73%
Municipal
22.89%
Other
21.18%
As of September 16, 2026
Top 10 Holdings
ZCM
Brookfield Finance II, 5.431% 14dec2032, CAD
8.18%
Enbridge, 3.1% 21sep2033, CAD
7.81%
TransCanada PipeLines, 4.575% 20feb2035, CAD
5.82%
TransCanada PipeLines, 5.33% 12may2032, CAD
5.45%
TELUS, 5.25% 15nov2032, CAD (CAG)
5.41%
Toronto-Dominion Bank, 4.133% 9jan2033, CAD
5.17%
Choice Properties REIT, 5.4% 1mar2033, CAD (S)
4.77%
Hydro One Inc, 4.25% 4jan2035, CAD (60)
4.52%
Choice Properties REIT, 6.003% 24jun2032, CAD (R)
4.20%
Bank of Nova Scotia, 4.442% 15nov2035, CAD
3.24%
XQB
Canada, Bonds 3.25% 1dec2035, CAD
1.33%
Canada, Bonds 2.75% 1sep2030, CAD
1.29%
Canada, Bonds 3.25% 1jun2036, CAD
1.26%
Canada, Bonds 2.75% 1mar2031, CAD
1.15%
Canada, Bonds 3.25% 1jun2035, CAD
1.15%
Canada, Bonds 3.5% 1dec2057, CAD
1.05%
Canada, Bonds 3% 1jun2034, CAD
1.02%
Canada, Bonds 2.75% 1mar2030, CAD
1.01%
Canada, Bonds 3.5% 1sep2029, CAD
0.93%
Canada, Bonds 3.25% 1dec2034, CAD
0.92%
Diversification
ZCM
Total weight of top 10 holdings out of 35 total
54.57%
XQB
Total weight of top 10 holdings out of 598 total
11.12%
Characteristics
Compare
ZCM
XQB
| Provider | BMO | iShares |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Mid Term Corporate Bond Total Return Index - CAD | FTSE Canada Liquid Universe Capped Bond TR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 4.43% | 3.53% |
| Meets ESG criteria | No | No |
| Inception Date | January 19, 2010 | November 19, 2009 |
Frequently asked questions about ZCM and XQB
Which ETF has performed better year to date: ZCM or XQB?
As of September 16, 2026, ZCM has returned -0.09% year to date, while XQB has returned -0.72%. ZCM is ahead on YTD performance.
Which ETF is larger by assets under management: ZCM or XQB?
As of September 16, 2026, ZCM manages $1.48 B in assets, while XQB manages $527.81 M. ZCM is the larger fund by AUM.
How are ZCM and XQB managed?
ZCM is passively managed by BMO. It tracks the FTSE Canada Mid Term Corporate Bond Total Return Index - CAD benchmark. XQB is passively managed by iShares. It tracks the FTSE Canada Liquid Universe Capped Bond TR Index - CAD benchmark.
What sectors do ZCM and XQB emphasize?
ZCM is most exposed to Finance, Energy, and Utilities. XQB is most exposed to Finance, Sovereign, and Municipal.
Which ETF is attracting more investor flows: ZCM or XQB?
Year to date, ZCM has seen +$199.14 M in net flows, compared with +$22.63 M for XQB. ZCM has attracted more net investor money so far.
How do the fees of ZCM and XQB compare?
ZCM has an expense ratio of 0.33%, while XQB has an expense ratio of 0.13%.
What are the top holdings of ZCM and XQB?
ZCM's largest holdings include Brookfield Finance II, 5.431% 14dec2032, CAD, Enbridge, 3.1% 21sep2033, CAD, and TransCanada PipeLines, 4.575% 20feb2035, CAD. XQB's top holdings include Canada, Bonds 3.25% 1dec2035, CAD, Canada, Bonds 2.75% 1sep2030, CAD, and Canada, Bonds 3.25% 1jun2036, CAD.
Which ETF is more diversified: ZCM or XQB?
ZCM holds 35 securities, while XQB holds 598. On holdings count, XQB is the more diversified portfolio.
Recent articles about ZCM and XQB
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.