VS
BMO Mid Provincial Bond Index ETF (ZMP) and BMO Government Bond Index ETF (ZGB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZMP focuses its top 3 sector exposures on Municipal, while ZGB leans towards Sovereign, Municipal, and Government Agencies. When evaluating costs, ZMP features a management fee (MER) of 0.25%, compared to 0.15% for ZGB. Performance-wise, ZMP has returned 0.38% year-to-date with +$126 M in net flows, whereas ZGB is at 0.11% with -$198 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
ZGB
| AuM | $832.37 M | $1,244.50 M |
| Management Fees | 0.25% | 0.15% |
| Exp. ratio | 0.28% | 0.17% |
| 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% |
ZGB | -1.27% | -1.77% | -0.11% | +1.64% | +11.47% | |
| Flows | ZMP | +$31 M | +$39 M | +$126 M | +$389 M | +$508 M |
ZGB | -$6 M | -$5 M | -$198 M | -$198 M | +$185 M |
ZMP vs ZGB exposure
Countries
ZMP
Canada
100.00%
ZGB
Canada
100.00%
Sectors
ZMP
Municipal
100.00%
ZGB
Sovereign
45.02%
Municipal
41.74%
Government Agencies
13.24%
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%
ZGB
Canada, Bond 1.25 1jun2030 10Y
12.45%
Canada, Bonds 2% 1jun2032, CAD
6.22%
Canada, Bonds 1.5% 1dec2031 10Y
6.11%
Canada Housing Trust, 4.25% 15mar2034, CAD (118)
3.48%
Canada, Bonds 3.5% 1mar2028, CAD
3.37%
Canada, Bonds 2.5% 1dec2032, CAD
3.18%
CMHC, 1.75% 15jun2030, CAD (92)
3.16%
Province of Ontario, 2.15% 2jun2031, CAD (DMTN249)
3.16%
Canada, Bonds 2.75% 1dec2055, CAD
2.62%
Province of Ontario, 2.65% 2dec2050, CAD (DMTN242)
2.33%
Diversification
ZMP
Total weight of top 10 holdings out of 23 total
78.63%
ZGB
Total weight of top 10 holdings out of 48 total
46.09%
Characteristics
Compare
ZMP
ZGB
| Provider | BMO | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Mid Term Provincial Bond TR Index - CAD | FTSE Canada All Government 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% | 3.15% |
| Meets ESG criteria | No | No |
| Inception Date | March 19, 2013 | March 7, 2018 |
Frequently asked questions about ZMP and ZGB
Which ETF has performed better year to date: ZMP or ZGB?
As of September 2, 2026, ZMP has returned 0.38% year to date, while ZGB has returned -0.11%. ZMP is ahead on YTD performance.
Which ETF is larger by assets under management: ZMP or ZGB?
As of September 2, 2026, ZMP manages $832.37 M in assets, while ZGB manages $1.24 B. ZGB is the larger fund by AUM.
How are ZMP and ZGB managed?
ZMP is passively managed by BMO. It tracks the FTSE Canada Mid Term Provincial Bond TR Index - CAD benchmark. ZGB is passively managed by BMO. It tracks the FTSE Canada All Government Bond TR Index - CAD benchmark.
What sectors do ZMP and ZGB emphasize?
ZMP is most exposed to Municipal. ZGB is most exposed to Sovereign, Municipal, and Government Agencies.
Which ETF is attracting more investor flows: ZMP or ZGB?
Year to date, ZMP has seen +$126.28 M in net flows, compared with -$197.62 M for ZGB. ZMP has attracted more net investor money so far.
How do the fees of ZMP and ZGB compare?
ZMP has an expense ratio of 0.28%, while ZGB has an expense ratio of 0.17%.
What are the top holdings of ZMP and ZGB?
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). ZGB's top holdings include Canada, Bond 1.25 1jun2030 10Y, Canada, Bonds 2% 1jun2032, CAD, and Canada, Bonds 1.5% 1dec2031 10Y.
Which ETF is more diversified: ZMP or ZGB?
ZMP holds 23 securities, while ZGB holds 48. On holdings count, ZGB is the more diversified portfolio.
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.