Compare BMO Conservative ETF (ZCON) vs TD Conservative ETF Portfolio (TCON) to find the best fit for your portfolio. ZCON and TCON provide the same top sector exposures: Sovereign, Finance, and Municipal. When evaluating costs, ZCON features a management fee (MER) of 0.18%, compared to 0.27% for TCON. Performance-wise, ZCON has returned 5.9% year-to-date with +$35 M in net flows, whereas TCON is at 5.9% with +$49 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
ZCON
TCON
| AuM | $118.57 M | $135.41 M |
| Management Fees | 0.18% | 0.27% |
| Exp. ratio | 0.20% | 0.17% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 3, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZCON | -0.81% | +0.23% | +5.90% | +10.00% | +35.64% |
TCON | +0.72% | +0.66% | +5.90% | +10.04% | +35.10% | |
| Flows | ZCON | +$7 M | +$17 M | +$35 M | +$47 M | +$64 M |
TCON | +$6 M | +$12 M | +$49 M | +$68 M | +$110 M |
ZCON vs TCON exposure
Countries
ZCON
Canada
52.05%
USA
32.65%
Other
15.30%
TCON
Canada
72.09%
USA
16.44%
Other
11.47%
Sectors
ZCON
Sovereign
22.43%
Finance
16.59%
Municipal
13.27%
Technology
11.43%
Other
36.28%
TCON
Sovereign
21.13%
Finance
18.21%
Municipal
16.18%
Technology
8.87%
Other
35.60%
As of September 3, 2026
Top 10 Holdings
ZCON
Canada, Bond 0.5 1oct2030 10Y
7.74%
CMHC, 1.9% 15mar2031, CAD (100)
2.89%
Province of Quebec, 1.5% 1sep2031, CAD (B128)
2.29%
Canada, Bonds 2.25% 1dec2029, CAD
2.18%
Province of Ontario, 2.65% 2dec2050, CAD (DMTN242)
2.15%
Province of Ontario, 2.05% 2jun2030, CAD (DMTN243)
2.14%
Sun Life Financial, 2.06% 1oct2035, CAD (2020-2)
2.09%
Toronto-Dominion Bank, 1.896% 11sep2028, CAD
1.63%
Apple, Inc.
1.39%
NVIDIA Corp.
1.34%
TCON
Royal Bank of Canada
1.23%
NVIDIA Corp.
1.11%
Apple, Inc.
1.05%
Canada, Bonds 3.25% 1jun2036, CAD
0.94%
Canada, Bonds 3.25% 1dec2035, CAD
0.90%
The Toronto-Dominion Bank
0.85%
Canada, Bonds 2.75% 1sep2030, CAD
0.84%
Microsoft Corp.
0.81%
Canada, Bond 1.5 1jun2031 10Y
0.80%
Canada, Bonds 1.5% 1dec2031 10Y
0.80%
Diversification
ZCON
Total weight of top 10 holdings out of 19,892 total
25.86%
TCON
Total weight of top 10 holdings out of 3,307 total
9.31%
Characteristics
Compare
ZCON
TCON
| Provider | BMO | TD Asset Management |
| Management | Actively managed | Actively managed |
| Benchmark | - | - |
| Replication Method | ||
| Asset Class | Equity, Fixed Income | Equity, Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.91% | 2.10% |
| Meets ESG criteria | No | No |
| Inception Date | February 15, 2019 | August 18, 2020 |
Frequently asked questions about ZCON and TCON
Which ETF has performed better year to date: ZCON or TCON?
As of September 3, 2026, ZCON has returned 5.90% year to date, while TCON has returned 5.90%. TCON is ahead on YTD performance.
Which ETF is larger by assets under management: ZCON or TCON?
As of September 3, 2026, ZCON manages $118.57 M in assets, while TCON manages $135.41 M. TCON is the larger fund by AUM.
How are ZCON and TCON managed?
ZCON is actively managed by BMO. It does not track an index. TCON is actively managed by TD Asset Management. It does not track an index.
What sectors do ZCON and TCON emphasize?
ZCON is most exposed to Sovereign, Finance, and Municipal. TCON is most exposed to Sovereign, Finance, and Municipal.
Which ETF is attracting more investor flows: ZCON or TCON?
Year to date, ZCON has seen +$35.23 M in net flows, compared with +$49.38 M for TCON. TCON has attracted more net investor money so far.
How do the fees of ZCON and TCON compare?
ZCON has an expense ratio of 0.20%, while TCON has an expense ratio of 0.17%.
What are the top holdings of ZCON and TCON?
ZCON's largest holdings include Canada, Bond 0.5 1oct2030 10Y and CMHC, 1.9% 15mar2031, CAD (100). TCON's top holdings include Royal Bank of Canada, NVIDIA Corp., and Apple, Inc..
Which ETF is more diversified: ZCON or TCON?
ZCON holds 11634 securities, while TCON holds 3267. On holdings count, ZCON is the more diversified portfolio.
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