VS
BMO Long Corporate Bond Index ETF (ZLC) and iShares Canadian Universe Bond Index ETF (XBB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZLC focuses its top 3 sector exposures on Energy, Industrials, and Utilities, while XBB leans towards Sovereign, Municipal, and Finance. When evaluating costs, ZLC features a management fee (MER) of 0.3%, compared to 0.09% for XBB. Performance-wise, ZLC has returned 0.88% year-to-date with -$179 M in net flows, whereas XBB is at 1.21% with +$2 B. 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
ZLC
XBB
| AuM | $269.86 M | $11,020.92 M |
| Management Fees | 0.30% | 0.09% |
| Exp. ratio | 0.33% | 0.10% |
| Tracking Difference | - | - |
Historical performance and flows
As of November 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZLC | +2.25% | +2.03% | +0.88% | -0.40% | +19.75% |
XBB | +1.18% | +0.89% | +1.21% | +0.35% | +14.58% | |
| Flows | ZLC | -$9 M | -$11 M | -$179 M | -$177 M | -$25 M |
XBB | -$19 M | +$949 M | +$2,085 M | +$2,441 M | +$4,471 M |
ZLC vs XBB exposure
Countries
ZLC
Canada
92.34%
USA
7.66%
XBB
Canada
95.50%
Sectors
ZLC
Energy
30.66%
Industrials
26.06%
Utilities
25.07%
Other
18.21%
XBB
Sovereign
33.30%
Municipal
28.35%
Finance
13.96%
Government Agencies
7.14%
Other
17.25%
As of November 11, 2026
Top 10 Holdings
ZLC
Enbridge, 4.57% 11mar2044, CAD
7.44%
TransCanada PipeLines, 4.35% 6jun2046, CAD
4.75%
Hydro One Inc, 4.89% 13mar2037, CAD
4.21%
Hydro One Inc, 4.85% 30nov2054, CAD (58)
3.91%
407 International, 4.45% 15nov2041, CAD (11-A1)
3.91%
Amazon.com, 5% 12jun2056, CAD
3.80%
AltaGas, 3.99% 30jun2042, CAD (2012-1)
3.68%
TransCanada PipeLines, 4.34% 15oct2049, CAD
3.47%
407 International, 3.6% 21may2047, CAD (16-A1)
3.32%
Greater Toronto Airports Authority, 5.3% 25feb2041, CAD (2011-1)
2.93%
XBB
Canada, Bonds 2.75% 1mar2031, CAD
1.50%
Canada, Bonds 2.75% 1sep2030, CAD
1.50%
Canada, Bonds 3.25% 1dec2035, CAD
1.48%
Canada, Bonds 3% 1sep2031, CAD
1.45%
Canada, Bonds 3.25% 1jun2036, CAD
1.44%
Canada, Bonds 3.25% 1jun2035, CAD
1.38%
Canada, Bonds 3% 1jun2034, CAD
1.20%
Canada, Bonds 2.75% 1mar2030, CAD
1.19%
Canada, Bonds 3.5% 1dec2057, CAD
1.13%
Canada, Bonds 3.5% 1sep2029, CAD
1.11%
Diversification
ZLC
Total weight of top 10 holdings out of 42 total
41.43%
XBB
Total weight of top 10 holdings out of 1,921 total
13.38%
Characteristics
Compare
ZLC
XBB
| Provider | BMO | iShares |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Long Term Corporate Bond TR Index - CAD | FTSE Canada Universe Bond TR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 4.58% | 3.50% |
| Meets ESG criteria | No | No |
| Inception Date | January 19, 2010 | November 20, 2000 |
Frequently asked questions about ZLC and XBB
Which ETF has performed better year to date: ZLC or XBB?
As of November 11, 2026, ZLC has returned 0.88% year to date, while XBB has returned 1.21%. XBB is ahead on YTD performance.
Which ETF is larger by assets under management: ZLC or XBB?
As of November 11, 2026, ZLC manages $269.86 M in assets, while XBB manages $11.02 B. XBB is the larger fund by AUM.
How are ZLC and XBB managed?
ZLC is passively managed by BMO. It tracks the FTSE Canada Long Term Corporate Bond TR Index - CAD benchmark. XBB is passively managed by iShares. It tracks the FTSE Canada Universe Bond TR Index - CAD benchmark.
What sectors do ZLC and XBB emphasize?
ZLC is most exposed to Energy, Industrials, and Utilities. XBB is most exposed to Sovereign, Municipal, and Finance.
Which ETF is attracting more investor flows: ZLC or XBB?
Year to date, ZLC has seen -$179.39 M in net flows, compared with +$2,084.94 M for XBB. XBB has attracted more net investor money so far.
How do the fees of ZLC and XBB compare?
ZLC has an expense ratio of 0.33%, while XBB has an expense ratio of 0.10%.
What are the top holdings of ZLC and XBB?
ZLC's largest holdings include Enbridge, 4.57% 11mar2044, CAD, TransCanada PipeLines, 4.35% 6jun2046, CAD, and Hydro One Inc, 4.89% 13mar2037, CAD. XBB's top holdings include Canada, Bonds 2.75% 1mar2031, CAD and Canada, Bonds 2.75% 1sep2030, CAD.
Which ETF is more diversified: ZLC or XBB?
ZLC holds 42 securities, while XBB holds 1855. On holdings count, XBB is the more diversified portfolio.
Recent articles about ZLC and XBB
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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.