VS
BMO Mid Provincial Bond Index ETF (ZMP) and BMO Long Federal Bond Index ETF (ZFL) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZMP focuses its top 3 sector exposures on Municipal, while ZFL leans towards Sovereign. When evaluating costs, ZMP features a management fee (MER) of 0.25%, compared to 0.2% for ZFL. Performance-wise, ZMP has returned 0.39% year-to-date with +$126 M in net flows, whereas ZFL is at 2.98% with +$94 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
ZFL
| AuM | $832.40 M | $1,286.42 M |
| Management Fees | 0.25% | 0.20% |
| Exp. ratio | 0.28% | 0.22% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 3, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZMP | -1.17% | -1.12% | +0.39% | +1.92% | +16.38% |
ZFL | -3.06% | -5.06% | -2.98% | -2.10% | -0.23% | |
| Flows | ZMP | +$31 M | +$24 M | +$126 M | +$389 M | +$508 M |
ZFL | +$32 M | +$56 M | +$94 M | -$2,347 M | -$1,133 M |
ZMP vs ZFL exposure
Countries
ZMP
Canada
100.00%
ZFL
Canada
100.00%
Sectors
ZMP
Municipal
100.00%
ZFL
Sovereign
100.00%
As of September 3, 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%
ZFL
Canada, Bonds 3.5% 1dec2057, CAD
22.02%
Canada, Bond 2 1jan2051 30Y
20.08%
Canada, Bonds 2.75% 1dec2055, CAD
14.90%
Canada, Bond 3.5 1dec2045 30Y
14.77%
Canada, Bond 2.75 1dec2048 30Y
11.40%
Canada, Bond 1.75 1dec2053 30Y
9.75%
Canada, Bond 4 1jun2041 30Y
7.08%
Diversification
ZMP
Total weight of top 10 holdings out of 23 total
78.63%
ZFL
Total weight of top 10 holdings out of 7 total
100.00%
Characteristics
Compare
ZMP
ZFL
| Provider | BMO | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Mid Term Provincial Bond TR Index - CAD | FTSE TMX Canada Long Term Federal Bond TR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.31% | 2.96% |
| Meets ESG criteria | No | No |
| Inception Date | March 19, 2013 | May 19, 2010 |
Frequently asked questions about ZMP and ZFL
Which ETF has performed better year to date: ZMP or ZFL?
As of September 3, 2026, ZMP has returned 0.39% year to date, while ZFL has returned -2.98%. ZMP is ahead on YTD performance.
Which ETF is larger by assets under management: ZMP or ZFL?
As of September 3, 2026, ZMP manages $832.40 M in assets, while ZFL manages $1.29 B. ZFL is the larger fund by AUM.
How are ZMP and ZFL managed?
ZMP is passively managed by BMO. It tracks the FTSE Canada Mid Term Provincial Bond TR Index - CAD benchmark. ZFL is passively managed by BMO. It tracks the FTSE TMX Canada Long Term Federal Bond TR Index - CAD benchmark.
What sectors do ZMP and ZFL emphasize?
ZMP is most exposed to Municipal. ZFL is most exposed to Sovereign.
Which ETF is attracting more investor flows: ZMP or ZFL?
Year to date, ZMP has seen +$126.28 M in net flows, compared with +$93.90 M for ZFL. ZMP has attracted more net investor money so far.
How do the fees of ZMP and ZFL compare?
ZMP has an expense ratio of 0.28%, while ZFL has an expense ratio of 0.22%.
What are the top holdings of ZMP and ZFL?
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). ZFL's top holdings include Canada, Bonds 3.5% 1dec2057, CAD, Canada, Bond 2 1jan2051 30Y, and Canada, Bonds 2.75% 1dec2055, CAD.
Which ETF is more diversified: ZMP or ZFL?
ZMP holds 23 securities, while ZFL holds 7. On holdings count, ZMP is the more diversified portfolio.
Recent articles about ZMP and ZFL
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