VS
BMO Mid Provincial Bond Index ETF (ZMP) and BMO Mid Federal Bond Index ETF (ZFM) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZMP focuses its top 3 sector exposures on Municipal, while ZFM leans towards Sovereign and Government agencies. When evaluating costs, ZMP features a management fee (MER) of 0.25%, compared to 0.2% for ZFM. Performance-wise, ZMP has returned 0.99% year-to-date with +$46 M in net flows, whereas ZFM is at 0.71% with -$19 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
ZFM
| AuM | $768.57 M | $798.54 M |
| Management Fees | 0.25% | 0.20% |
| Exp. ratio | 0.28% | 0.21% |
| Tracking Difference | - | - |
Historical performance and flows
As of April 24, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZMP | +1.51% | +0.13% | +0.99% | +3.71% | +12.70% |
ZFM | +1.26% | +0.10% | +0.71% | +2.06% | +7.89% | |
| Flows | ZMP | +$7 M | -$10 M | +$46 M | +$375 M | +$472 M |
ZFM | +$46 M | +$4 M | -$19 M | -$38 M | -$224 M |
ZMP vs ZFM exposure
Countries
ZMP
Canada
100.00%
ZFM
Canada
100.00%
Sectors
ZMP
Municipal
96.45%
ZFM
Sovereign
74.28%
Government agencies
24.39%
As of April 24, 2026
Top 10 Holdings
ZMP
Province of Ontario, 3.65% 2jun2033, CAD (DMTN258)
11.39%
Province of Ontario, 3.6% 2jun2035, CAD
11.11%
Province of Quebec, 3.6% 1sep2033, CAD (B135)
10.59%
Province of Quebec, 3.25% 1sep2032, CAD (B131)
9.08%
Province of Ontario, 3.75% 2jun2032, CAD (DMTN254)
7.94%
Province of Quebec, 4.45% 1sep2034, CAD (B136)
6.67%
Province of Ontario, 4.15% 2jun2034, CAD (DMTN262)
5.11%
British Columbia, 4% 18jun2035, CAD (BCCD-48)
4.99%
Province of Ontario, 2.15% 2jun2031, CAD (DMTN249)
4.70%
British Columbia, 1.55% 18jun2031, CAD (BCCD-41)
3.90%
ZFM
Canada, Bonds 3.25% 1jun2035, CAD
15.42%
Canada, Bonds 3.25% 1dec2034, CAD
14.81%
Canada, Bonds 3% 1jun2034, CAD
13.93%
Canada, Bonds 1.5% 1dec2031 10Y
9.96%
Canada Housing Trust, 4.25% 15mar2034, CAD (118)
6.41%
Canada, Bonds 3.25% 1dec2033, CAD
6.09%
Canada, Bond 1.5 1jun2031 10Y
5.66%
Canada Housing Trust, 3.55% 15sep2032, CAD (107)
4.81%
CMHC, 3.5% 15dec2034, CAD (122)
4.05%
Canada, Bonds 2.75% 1jun2033, CAD
3.94%
Diversification
ZMP
Total weight of top 10 holdings out of 22 total
75.48%
ZFM
Total weight of top 10 holdings out of 17 total
85.08%
Characteristics
Compare
ZMP
ZFM
| Provider | BMO | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Mid Term Provincial Bond TR Index - CAD | FTSE Canada Mid 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 | 3.05% | 2.47% |
| Meets ESG criteria | No | No |
| Inception Date | March 19, 2013 | May 29, 2009 |
Frequently asked questions about ZMP and ZFM
Which ETF has performed better year to date: ZMP or ZFM?
As of April 24, 2026, ZMP has returned 0.99% year to date, while ZFM has returned 0.71%. ZMP is ahead on YTD performance.
Which ETF is larger by assets under management: ZMP or ZFM?
As of April 24, 2026, ZMP manages $768.57 M in assets, while ZFM manages $798.54 M. ZFM is the larger fund by AUM.
How are ZMP and ZFM managed?
ZMP is passively managed by BMO. It tracks the FTSE Canada Mid Term Provincial Bond TR Index - CAD benchmark. ZFM is passively managed by BMO. It tracks the FTSE Canada Mid Term Federal Bond TR Index - CAD benchmark.
What sectors do ZMP and ZFM emphasize?
ZMP is most exposed to Municipal. ZFM is most exposed to Sovereign and Government agencies.
Which ETF is attracting more investor flows: ZMP or ZFM?
Year to date, ZMP has seen +$45.98 M in net flows, compared with -$18.85 M for ZFM. ZMP has attracted more net investor money so far.
How do the fees of ZMP and ZFM compare?
ZMP has an expense ratio of 0.28%, while ZFM has an expense ratio of 0.21%.
What are the top holdings of ZMP and ZFM?
ZMP's largest holdings include Province of Ontario, 3.65% 2jun2033, CAD (DMTN258), Province of Ontario, 3.6% 2jun2035, CAD, and Province of Quebec, 3.6% 1sep2033, CAD (B135). ZFM's top holdings include Canada, Bonds 3.25% 1jun2035, CAD, Canada, Bonds 3.25% 1dec2034, CAD, and Canada, Bonds 3% 1jun2034, CAD.
Which ETF is more diversified: ZMP or ZFM?
ZMP holds 20 securities, while ZFM holds 17. On holdings count, ZMP 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.