VS
BMO Short Federal Bond Index ETF (ZFS) and BMO Equal Weight Banks Index ETF (ZEB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZFS focuses its top 3 sector exposures on Sovereign and Government agencies, while ZEB leans towards Finance. When evaluating costs, ZFS features a management fee (MER) of 0.2%, compared to 0.25% for ZEB. Performance-wise, ZFS has returned 0.9% year-to-date with +$544 M in net flows, whereas ZEB is at 35.79% with +$267 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
ZFS
ZEB
| AuM | $904.52 M | $7,493.90 M |
| Management Fees | 0.20% | 0.25% |
| Exp. ratio | 0.21% | 0.28% |
| Tracking Difference | - | -0.65% |
Historical performance and flows
As of July 17, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZFS | +0.02% | +0.35% | +0.90% | +2.69% | +12.54% |
ZEB | +6.04% | +19.90% | +35.79% | +71.33% | +157.89% | |
| Flows | ZFS | +$13 M | +$84 M | +$544 M | +$455 M | -$139 M |
ZEB | +$1,233 M | +$1,278 M | +$267 M | +$768 M | -$484 M |
ZFS vs ZEB exposure
Countries
ZFS
Canada
71.37%
Other
28.63%
ZEB
Canada
100.00%
Sectors
ZFS
Sovereign
46.96%
Other
28.63%
Government agencies
24.41%
ZEB
Finance
100.00%
As of July 17, 2026
Top 10 Holdings
ZFS
CA135087T388
10.70%
Canada, Bonds 3.25% 1sep2028, CAD
8.74%
Canada, Bonds 4% 1mar2029, CAD
8.17%
Canada, Bonds 2.75% 1mar2030, CAD
7.16%
Canada, Bonds 3.5% 1sep2029, CAD
6.61%
Canada, Bonds 3.5% 1mar2028, CAD
5.85%
CA135087T461
5.77%
Canada, Bond 1.25 1jun2030 10Y
5.39%
Canada Housing Trust, 3.6% 15dec2027, CAD (110)
4.39%
CA135087T792
4.27%
ZEB
The Toronto-Dominion Bank
17.52%
Royal Bank of Canada
17.09%
Bank of Montreal
16.85%
The Bank of Nova Scotia
16.38%
Canadian Imperial Bank of Commerce
16.27%
National Bank of Canada
15.89%
Diversification
ZFS
Total weight of top 10 holdings out of 22 total
67.06%
ZEB
Total weight of top 10 holdings out of 6 total
100.00%
Characteristics
Compare
ZFS
ZEB
| Provider | BMO | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE TMX Canada Short Term Federal Bond Index - CAD | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.55% | 2.23% |
| Meets ESG criteria | No | No |
| Inception Date | October 20, 2009 | October 20, 2009 |
Frequently asked questions about ZFS and ZEB
Which ETF has performed better year to date: ZFS or ZEB?
As of July 17, 2026, ZFS has returned 0.90% year to date, while ZEB has returned 35.79%. ZEB is ahead on YTD performance.
Which ETF is larger by assets under management: ZFS or ZEB?
As of July 17, 2026, ZFS manages $904.52 M in assets, while ZEB manages $7.49 B. ZEB is the larger fund by AUM.
How are ZFS and ZEB managed?
ZFS is passively managed by BMO. It tracks the FTSE TMX Canada Short Term Federal Bond Index - CAD benchmark. ZEB is passively managed by BMO. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do ZFS and ZEB emphasize?
ZFS is most exposed to Sovereign and Government agencies. ZEB is most exposed to Finance.
Which ETF is attracting more investor flows: ZFS or ZEB?
Year to date, ZFS has seen +$544.44 M in net flows, compared with +$266.52 M for ZEB. ZFS has attracted more net investor money so far.
How do the fees of ZFS and ZEB compare?
ZFS has an expense ratio of 0.21%, while ZEB has an expense ratio of 0.28%.
What are the top holdings of ZFS and ZEB?
ZFS's largest holdings include Canada, Bonds 3.25% 1sep2028, CAD and Canada, Bonds 4% 1mar2029, CAD. ZEB's top holdings include The Toronto-Dominion Bank, Royal Bank of Canada, and Bank of Montreal.
Which ETF is more diversified: ZFS or ZEB?
ZFS holds 17 securities, while ZEB holds 6. On holdings count, ZFS is the more diversified portfolio.
Recent articles about ZFS and ZEB
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