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 Financials, Energy, and Materials. When evaluating costs, ZPL features a management fee (MER) of 0.25%, compared to 0.05% for XIC. Performance-wise, ZPL has returned 2.11% year-to-date with -$95 M in net flows, whereas XIC is at 10.7% with +$5 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 | $215.86 M | $29,835.84 M |
| Management Fees | 0.25% | 0.05% |
| Exp. ratio | 0.28% | 0.06% |
| Tracking Difference | - | -0.12% |
Historical performance and flows
As of May 25, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZPL | +1.36% | -1.07% | +2.11% | +3.49% | +8.58% |
XIC | +3.11% | +2.62% | +10.70% | +36.73% | +91.56% | |
| Flows | ZPL | -$2 M | -$122 M | -$95 M | -$101 M | +$19 M |
XIC | +$435 M | +$2,220 M | +$5,389 M | +$7,802 M | +$11,390 M |
ZPL vs XIC exposure
Countries
ZPL
Canada
100.00%
XIC
Canada
98.95%
Sectors
ZPL
Municipal
97.46%
XIC
Financials
28.13%
Energy
18.01%
Materials
15.92%
Other
13.03%
Other
24.92%
As of May 25, 2026
Top 10 Holdings
ZPL
Province of Ontario, 3.45% 2jun2045, CAD (DMTN220)
8.68%
Province of Ontario, 2.9% 2dec2046, CAD (DMTN228)
7.83%
Province of Quebec, 3.5% 1dec2048, CAD (B117)
7.69%
Province of Ontario, 2.8% 2jun2048, CAD (DMTN231)
6.93%
Province of Quebec, 3.5% 1dec2045, CAD (B112)
6.45%
Province of Quebec, 3.1% 1dec2051, CAD (B125-01)
6.40%
Province of Ontario, 3.5% 2jun2043, CAD (DMTN214)
5.21%
Province of Quebec, 4.25% 1dec2043, CAD (B106)
4.04%
Province of Ontario, 2.9% 2jun2049, CAD (DMTN236)
3.81%
Alberta, 3.3% 1dec2046, CAD
3.47%
XIC
ROYAL BK CANADA
6.69%
TORONTO DOMINION
4.64%
SHOPIFY SUBORDINATE VOTING
4.31%
ENBRIDGE
3.50%
AGNICO EAGLE MINES LTD
3.01%
CDN NATURAL RESOURCE
3.01%
BANK OF MONTREAL
2.83%
CA11271J1075
2.65%
CDN IMPERIAL BK
2.61%
BNS
2.53%
Diversification
ZPL
Total weight of top 10 holdings out of 40 total
60.51%
XIC
Total weight of top 10 holdings out of 221 total
35.80%
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 | 3.61% | 2.02% |
| 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 May 25, 2026, ZPL has returned 2.11% year to date, while XIC has returned 10.70%. XIC is ahead on YTD performance.
Which ETF is larger by assets under management: ZPL or XIC?
As of May 25, 2026, ZPL manages $215.86 M in assets, while XIC manages $29.84 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 Financials, Energy, and Materials.
Which ETF is attracting more investor flows: ZPL or XIC?
Year to date, ZPL has seen -$94.94 M in net flows, compared with +$5,388.85 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, 3.5% 1dec2048, CAD (B117). XIC's top holdings include ROYAL BK CANADA and TORONTO DOMINION.
Which ETF is more diversified: ZPL or XIC?
ZPL holds 39 securities, while XIC holds 193. 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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