VS
BMO Floating Rate High Yield ETF (ZFH) and iShares Canadian Government Bond Index ETF (XGB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZFH focuses its top 3 sector exposures on Sovereign, while XGB leans towards Sovereign, Municipal, and Government Agencies. When evaluating costs, ZFH features a management fee (MER) of 0.4%, compared to 0.12% for XGB. Performance-wise, ZFH has returned 2.11% year-to-date with +$12 M in net flows, whereas XGB is at 0.08% with -$212 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
ZFH
XGB
| AuM | $268.48 M | $1,606.98 M |
| Management Fees | 0.40% | 0.12% |
| Exp. ratio | 0.44% | 0.13% |
| Tracking Difference | - | - |
Historical performance and flows
As of October 16, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZFH | -0.67% | -0.41% | +2.11% | +4.15% | +28.99% |
XGB | +1.07% | -1.09% | +0.08% | -1.09% | +13.82% | |
| Flows | ZFH | +$8 M | +$21 M | +$12 M | +$52 M | +$189 M |
XGB | -$65 M | -$34 M | -$212 M | -$117 M | +$680 M |
ZFH vs XGB exposure
Countries
ZFH
Canada
93.31%
XGB
Canada
99.18%
Sectors
ZFH
Sovereign
93.31%
XGB
Sovereign
44.40%
Municipal
38.41%
Government Agencies
9.61%
Other
7.58%
As of October 16, 2026
Top 10 Holdings
ZFH
Canada, Bills 0% 16dec2026, CAD (182D)
40.51%
Canada, Bills 0% 7oct2026, CAD (364D)
32.78%
Canada, Bills 0% 9sep2026, CAD (364D)
20.02%
XGB
Canada, Bonds 2.75% 1sep2030, CAD
2.01%
Canada, Bonds 3.25% 1jun2036, CAD
2.00%
Canada, Bonds 2.75% 1mar2031, CAD
1.99%
Canada, Bonds 3.25% 1dec2035, CAD
1.98%
Canada, Bonds 3.25% 1jun2035, CAD
1.81%
Canada, Bonds 3% 1jun2034, CAD
1.57%
Canada, Bonds 3% 1sep2031, CAD
1.55%
Canada, Bonds 2.75% 1mar2030, CAD
1.55%
Canada, Bonds 3.5% 1sep2029, CAD
1.51%
Canada, Bonds 3.5% 1dec2057, CAD
1.50%
Diversification
ZFH
Total weight of top 10 holdings out of 3 total
93.31%
XGB
Total weight of top 10 holdings out of 550 total
17.48%
Characteristics
Compare
ZFH
XGB
| Provider | BMO | iShares |
| Management | Actively managed | Passively managed |
| Benchmark | - | FTSE Canada All Government Bond TR Index - CAD |
| Replication Method | - | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 4.99% | 3.20% |
| Meets ESG criteria | No | No |
| Inception Date | February 14, 2014 | November 6, 2006 |
Frequently asked questions about ZFH and XGB
Which ETF has performed better year to date: ZFH or XGB?
As of October 16, 2026, ZFH has returned 2.11% year to date, while XGB has returned 0.08%. ZFH is ahead on YTD performance.
Which ETF is larger by assets under management: ZFH or XGB?
As of October 16, 2026, ZFH manages $268.48 M in assets, while XGB manages $1.61 B. XGB is the larger fund by AUM.
How are ZFH and XGB managed?
ZFH is actively managed by BMO. It does not track an index. XGB is passively managed by iShares. It tracks the FTSE Canada All Government Bond TR Index - CAD benchmark.
What sectors do ZFH and XGB emphasize?
ZFH is most exposed to Sovereign. XGB is most exposed to Sovereign, Municipal, and Government Agencies.
Which ETF is attracting more investor flows: ZFH or XGB?
Year to date, ZFH has seen +$12.41 M in net flows, compared with -$212.49 M for XGB. ZFH has attracted more net investor money so far.
How do the fees of ZFH and XGB compare?
ZFH has an expense ratio of 0.44%, while XGB has an expense ratio of 0.13%.
What are the top holdings of ZFH and XGB?
ZFH's largest holdings include Canada, Bills 0% 16dec2026, CAD (182D), Canada, Bills 0% 7oct2026, CAD (364D), and Canada, Bills 0% 9sep2026, CAD (364D). XGB's top holdings include Canada, Bonds 2.75% 1sep2030, CAD, Canada, Bonds 3.25% 1jun2036, CAD, and Canada, Bonds 2.75% 1mar2031, CAD.
Which ETF is more diversified: ZFH or XGB?
ZFH holds 3 securities, while XGB holds 549. On holdings count, XGB is the more diversified portfolio.
Recent articles about ZFH and XGB
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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.