VS
BMO Long Provincial Bond Index ETF (ZPL) and iShares Core S&P/TSX Capped Composite Index ETF (XIC) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZPL focuses its top 3 sector exposures on Municipal and Power, while XIC leans towards Finance, Non-Energy Materials, and Energy. When evaluating costs, ZPL features a management fee (MER) of 0.25%, compared to 0.05% for XIC. Performance-wise, ZPL has returned 0.92% year-to-date with -$96 M in net flows, whereas XIC is at 12.5% with +$7 B. 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
ZPL
XIC
| AuM | $211.52 M | $31,310.89 M |
| Management Fees | 0.25% | 0.05% |
| Exp. ratio | 0.28% | 0.06% |
| Tracking Difference | - | -0.10% |
Historical performance and flows
As of July 17, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZPL | -1.76% | -0.07% | +0.92% | +4.94% | +6.58% |
XIC | +0.59% | +3.22% | +12.50% | +31.70% | +89.28% | |
| Flows | ZPL | +$5 M | -$3 M | -$96 M | -$100 M | -$7 M |
XIC | +$820 M | +$1,912 M | +$6,530 M | +$7,821 M | +$12,618 M |
ZPL vs XIC exposure
Countries
ZPL
Canada
98.34%
XIC
Canada
96.41%
Sectors
ZPL
Municipal
97.46%
XIC
Finance
39.60%
Non-Energy Materials
18.18%
Energy
16.99%
Industrials
8.23%
Other
16.99%
As of July 17, 2026
Top 10 Holdings
ZPL
Province of Ontario, 3.45% 2jun2045, CAD (DMTN220)
7.94%
Province of Ontario, 2.9% 2dec2046, CAD (DMTN228)
7.18%
Province of Quebec, 3.1% 1dec2051, CAD (B125-01)
6.44%
Province of Quebec, 3.5% 1dec2048, CAD (B117)
6.31%
Province of Ontario, 3.5% 2jun2043, CAD (DMTN214)
5.19%
Province of Ontario, 2.8% 2jun2048, CAD (DMTN231)
5.05%
Province of Quebec, 3.5% 1dec2045, CAD (B112)
5.02%
Province of Quebec, 4.25% 1dec2043, CAD (B106)
4.03%
Province of Ontario, 2.9% 2jun2049, CAD (DMTN236)
3.82%
British Columbia, 2.95% 18jun2050, CAD (BCCD-39)
3.15%
XIC
Royal Bank of Canada
7.42%
The Toronto-Dominion Bank
5.32%
Shopify, Inc.
4.05%
Enbridge, Inc.
3.32%
Bank of Montreal
3.18%
Canadian Imperial Bank of Commerce
2.81%
Brookfield Corp.
2.78%
The Bank of Nova Scotia
2.74%
Canadian Natural Resources Ltd.
2.62%
Agnico Eagle Mines Ltd.
2.55%
Diversification
ZPL
Total weight of top 10 holdings out of 47 total
54.13%
XIC
Total weight of top 10 holdings out of 220 total
36.78%
Characteristics
Compare
ZPL
XIC
| Provider | BMO | iShares |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Long Term Provincial Bond TR Index - CAD | S&P/TSX Capped Composite Total Return Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.62% | 2.00% |
| Meets ESG criteria | No | No |
| Inception Date | March 19, 2013 | February 16, 2001 |
Frequently asked questions about ZPL and XIC
Which ETF has performed better year to date: ZPL or XIC?
As of July 17, 2026, ZPL has returned 0.92% year to date, while XIC has returned 12.50%. XIC is ahead on YTD performance.
Which ETF is larger by assets under management: ZPL or XIC?
As of July 17, 2026, ZPL manages $211.52 M in assets, while XIC manages $31.31 B. XIC is the larger fund by AUM.
How are ZPL and XIC managed?
ZPL is passively managed by BMO. It tracks the FTSE Canada Long Term Provincial Bond TR Index - CAD benchmark. XIC is passively managed by iShares. It tracks the S&P/TSX Capped Composite Total Return Index - CAD benchmark.
What sectors do ZPL and XIC emphasize?
ZPL is most exposed to Municipal and Power. XIC is most exposed to Finance, Non-Energy Materials, and Energy.
Which ETF is attracting more investor flows: ZPL or XIC?
Year to date, ZPL has seen -$95.68 M in net flows, compared with +$6,530.40 M for XIC. XIC has attracted more net investor money so far.
How do the fees of ZPL and XIC compare?
ZPL has an expense ratio of 0.28%, while XIC has an expense ratio of 0.06%.
What are the top holdings of ZPL and XIC?
ZPL's largest holdings include Province of Ontario, 3.45% 2jun2045, CAD (DMTN220), Province of Ontario, 2.9% 2dec2046, CAD (DMTN228), and Province of Quebec, 3.1% 1dec2051, CAD (B125-01). XIC's top holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and Shopify, Inc..
Which ETF is more diversified: ZPL or XIC?
ZPL holds 47 securities, while XIC holds 220. On holdings count, XIC is the more diversified portfolio.
Recent articles about ZPL and XIC
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Posted on 1/11/2023 by Tony Dong inETFs
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