VS
BMO Long Corporate Bond Index ETF (ZLC) and iShares Core Canadian Long Term Bond Index ETF (XLB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZLC focuses its top 3 sector exposures on Power, Pipelines, and Transportation support activities, while XLB leans towards Municipal, Sovereign, and Power. When evaluating costs, ZLC features a management fee (MER) of 0.3%, compared to 0.18% for XLB. Performance-wise, ZLC has returned 0.74% year-to-date with -$160 M in net flows, whereas XLB is at 0.69% with -$80 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
ZLC
XLB
| AuM | $296.23 M | $752.99 M |
| Management Fees | 0.30% | 0.18% |
| Exp. ratio | 0.33% | 0.20% |
| Tracking Difference | - | - |
Historical performance and flows
As of April 28, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZLC | +1.40% | -0.49% | +0.74% | +4.20% | +13.19% |
XLB | +1.15% | -0.17% | +0.69% | +1.38% | +3.36% | |
| Flows | ZLC | -$165 M | -$161 M | -$160 M | -$178 M | +$6 M |
XLB | -$61 M | -$67 M | -$80 M | -$68 M | +$40 M |
ZLC vs XLB exposure
Countries
ZLC
Canada
100.00%
XLB
Canada
99.83%
Sectors
ZLC
Power
48.34%
Pipelines
13.79%
Transportation support activities
12.63%
Other
25.24%
XLB
Municipal
49.20%
Sovereign
17.79%
Power
9.48%
Other
7.77%
Other
15.76%
As of April 28, 2026
Top 10 Holdings
ZLC
Hydro One Inc, 4.85% 30nov2054, CAD (58)
9.32%
CU Inc., 4.085% 2sep2044, CAD
8.62%
CU Inc., 3.805% 10sep2042, CAD
6.02%
Hydro One Inc, 5.49% 16jul2040, CAD
5.85%
Enbridge, 4.24% 27aug2042, CAD
4.83%
Greater Toronto Airports Authority, 2.75% 17oct2039, CAD (2019-2)
4.40%
Pembina Pipeline Corporation, 5.67% 12jan2054, CAD (22)
4.19%
Hydro One Inc, 4.39% 26sep2041, CAD
3.90%
Canadian National Railway Company, 3.95% 22sep2045, CAD
3.57%
TransCanada PipeLines, 4.34% 15oct2049, CAD
3.50%
XLB
Canada, Bonds 3.5% 1dec2057, CAD
3.90%
Canada, Bond 2 1jan2051 30Y
3.42%
Canada, Bonds 2.75% 1dec2055, CAD
3.35%
Canada, Bond 1.75 1dec2053 30Y
2.69%
CA135087U287
2.37%
Province of Quebec, 4.4% 1dec2055, CAD (B133)
2.23%
Province of Ontario, 3.45% 2jun2045, CAD (DMTN220)
1.67%
Province of Ontario, 2.9% 2dec2046, CAD (DMTN228)
1.56%
Province of Ontario, 4.65% 2jun2041, CAD (DMTN204)
1.52%
Province of Quebec, 3.1% 1dec2051, CAD (B125-01)
1.51%
Diversification
ZLC
Total weight of top 10 holdings out of 36 total
54.20%
XLB
Total weight of top 10 holdings out of 629 total
24.23%
Characteristics
Compare
ZLC
XLB
| Provider | BMO | iShares |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Long Term Corporate Bond TR Index - CAD | FTSE Canada Long Term Overall Bond TR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 4.69% | 4.08% |
| Meets ESG criteria | No | No |
| Inception Date | January 19, 2010 | November 6, 2006 |
Frequently asked questions about ZLC and XLB
Which ETF has performed better year to date: ZLC or XLB?
As of April 28, 2026, ZLC has returned 0.74% year to date, while XLB has returned 0.69%. ZLC is ahead on YTD performance.
Which ETF is larger by assets under management: ZLC or XLB?
As of April 28, 2026, ZLC manages $296.23 M in assets, while XLB manages $752.99 M. XLB is the larger fund by AUM.
How are ZLC and XLB managed?
ZLC is passively managed by BMO. It tracks the FTSE Canada Long Term Corporate Bond TR Index - CAD benchmark. XLB is passively managed by iShares. It tracks the FTSE Canada Long Term Overall Bond TR Index - CAD benchmark.
What sectors do ZLC and XLB emphasize?
ZLC is most exposed to Power, Pipelines, and Transportation support activities. XLB is most exposed to Municipal, Sovereign, and Power.
Which ETF is attracting more investor flows: ZLC or XLB?
Year to date, ZLC has seen -$160.05 M in net flows, compared with -$79.61 M for XLB. XLB has attracted more net investor money so far.
How do the fees of ZLC and XLB compare?
ZLC has an expense ratio of 0.33%, while XLB has an expense ratio of 0.20%.
What are the top holdings of ZLC and XLB?
ZLC's largest holdings include Hydro One Inc, 4.85% 30nov2054, CAD (58), CU Inc., 4.085% 2sep2044, CAD, and CU Inc., 3.805% 10sep2042, CAD. XLB's top holdings include Canada, Bonds 3.5% 1dec2057, CAD and Canada, Bond 2 1jan2051 30Y.
Which ETF is more diversified: ZLC or XLB?
ZLC holds 33 securities, while XLB holds 579. On holdings count, XLB is the more diversified portfolio.
Recent articles about ZLC and XLB
Sharp Decline for Long-Term Bonds After Fed Rate Hike
ETF data story for the week of July 24 to 28, 2023
Posted on 8/1/2023 by ETF Market Canada inStock Market
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.