VS
BMO Mid Provincial Bond Index ETF (ZMP) and BMO Discount Bond Index ETF (ZDB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZMP focuses its top 3 sector exposures on Municipal, while ZDB leans towards Sovereign, Municipal, and Finance. When evaluating costs, ZMP features a management fee (MER) of 0.25%, compared to 0.09% for ZDB. Performance-wise, ZMP has returned 0.38% year-to-date with +$126 M in net flows, whereas ZDB is at 0.15% with +$223 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
ZMP
ZDB
| AuM | $832.37 M | $1,356.60 M |
| Management Fees | 0.25% | 0.09% |
| Exp. ratio | 0.28% | 0.10% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 2, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZMP | -1.17% | -1.23% | +0.38% | +2.34% | +16.38% |
ZDB | -1.19% | -1.72% | -0.15% | +1.57% | +13.01% | |
| Flows | ZMP | +$31 M | +$39 M | +$126 M | +$389 M | +$508 M |
ZDB | +$31 M | +$119 M | +$223 M | +$562 M | +$501 M |
ZMP vs ZDB exposure
Countries
ZMP
Canada
100.00%
ZDB
Canada
100.00%
Sectors
ZMP
Municipal
100.00%
ZDB
Sovereign
33.15%
Municipal
31.50%
Finance
11.53%
Government Agencies
9.96%
Other
13.86%
As of September 2, 2026
Top 10 Holdings
ZMP
Province of Ontario, 3.6% 2jun2035, CAD
11.87%
Province of Ontario, 3.65% 2jun2033, CAD (DMTN258)
11.42%
Province of Quebec, 3.6% 1sep2033, CAD (B135)
11.34%
Province of Ontario, 3.75% 2jun2032, CAD (DMTN254)
10.11%
Province of Quebec, 3.25% 1sep2032, CAD (B131)
9.11%
British Columbia, 4% 18jun2035, CAD (BCCD-48)
7.17%
Province of Quebec, 4.45% 1sep2034, CAD (B136)
6.69%
Province of Ontario, 4.15% 2jun2034, CAD (DMTN262)
5.12%
Manitoba, 4.25% 2jun2034, CAD
2.94%
Province of Quebec, 4% 1sep2035, CAD (B138)
2.86%
ZDB
Canada, Bond 0.5 1oct2030 10Y
18.46%
CMHC, 1.9% 15mar2031, CAD (100)
6.90%
Province of Quebec, 1.5% 1sep2031, CAD (B128)
5.47%
Canada, Bonds 2.25% 1dec2029, CAD
5.20%
Province of Ontario, 2.65% 2dec2050, CAD (DMTN242)
5.12%
Province of Ontario, 2.05% 2jun2030, CAD (DMTN243)
5.10%
Sun Life Financial, 2.06% 1oct2035, CAD (2020-2)
5.00%
Toronto-Dominion Bank, 1.896% 11sep2028, CAD
3.90%
Canada, Bonds 2% 1jun2032, CAD
3.11%
Pembina Pipeline Corporation, 3.31% 1feb2030, CAD (15)
2.63%
Diversification
ZMP
Total weight of top 10 holdings out of 23 total
78.63%
ZDB
Total weight of top 10 holdings out of 48 total
60.88%
Characteristics
Compare
ZMP
ZDB
| Provider | BMO | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Mid Term Provincial Bond TR Index - CAD | FTSE Canada Universe Discount Bond Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.31% | 1.89% |
| Meets ESG criteria | No | No |
| Inception Date | March 19, 2013 | February 10, 2014 |
Frequently asked questions about ZMP and ZDB
Which ETF has performed better year to date: ZMP or ZDB?
As of September 2, 2026, ZMP has returned 0.38% year to date, while ZDB has returned -0.15%. ZMP is ahead on YTD performance.
Which ETF is larger by assets under management: ZMP or ZDB?
As of September 2, 2026, ZMP manages $832.37 M in assets, while ZDB manages $1.36 B. ZDB is the larger fund by AUM.
How are ZMP and ZDB managed?
ZMP is passively managed by BMO. It tracks the FTSE Canada Mid Term Provincial Bond TR Index - CAD benchmark. ZDB is passively managed by BMO. It tracks the FTSE Canada Universe Discount Bond Index - CAD benchmark.
What sectors do ZMP and ZDB emphasize?
ZMP is most exposed to Municipal. ZDB is most exposed to Sovereign, Municipal, and Finance.
Which ETF is attracting more investor flows: ZMP or ZDB?
Year to date, ZMP has seen +$126.28 M in net flows, compared with +$223.22 M for ZDB. ZDB has attracted more net investor money so far.
How do the fees of ZMP and ZDB compare?
ZMP has an expense ratio of 0.28%, while ZDB has an expense ratio of 0.10%.
What are the top holdings of ZMP and ZDB?
ZMP's largest holdings include Province of Ontario, 3.6% 2jun2035, CAD, Province of Ontario, 3.65% 2jun2033, CAD (DMTN258), and Province of Quebec, 3.6% 1sep2033, CAD (B135). ZDB's top holdings include Canada, Bond 0.5 1oct2030 10Y, CMHC, 1.9% 15mar2031, CAD (100), and Province of Quebec, 1.5% 1sep2031, CAD (B128).
Which ETF is more diversified: ZMP or ZDB?
ZMP holds 23 securities, while ZDB holds 48. On holdings count, ZDB is the more diversified portfolio.
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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.