VS
BMO Long Provincial Bond Index ETF (ZPL) and BMO Discount Bond Index ETF (ZDB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZPL focuses its top 3 sector exposures on Municipal and Utilities, while ZDB leans towards Sovereign, Municipal, and Finance. When evaluating costs, ZPL features a management fee (MER) of 0.25%, compared to 0.09% for ZDB. Performance-wise, ZPL has returned 1.49% year-to-date with +$2 M in net flows, whereas ZDB is at 0.15% with +$223 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
ZPL
ZDB
| AuM | $300.88 M | $1,356.60 M |
| Management Fees | 0.25% | 0.09% |
| Exp. ratio | 0.28% | 0.10% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 2, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZPL | -2.30% | -4.49% | -1.49% | +1.79% | +7.65% |
ZDB | -1.19% | -1.72% | -0.15% | +1.57% | +13.01% | |
| Flows | ZPL | +$10 M | +$94 M | +$2 M | +$2 M | +$106 M |
ZDB | +$31 M | +$119 M | +$223 M | +$562 M | +$501 M |
ZPL vs ZDB exposure
Countries
ZPL
Canada
100.00%
ZDB
Canada
100.00%
Sectors
ZPL
Municipal
99.13%
ZDB
Sovereign
33.15%
Municipal
31.50%
Finance
11.53%
Government Agencies
9.96%
Other
13.86%
As of September 2, 2026
Top 10 Holdings
ZPL
Province of Ontario, 3.45% 2jun2045, CAD (DMTN220)
7.96%
Province of Ontario, 2.9% 2dec2046, CAD (DMTN228)
6.53%
Province of Quebec, 3.1% 1dec2051, CAD (B125-01)
6.37%
Province of Quebec, 3.5% 1dec2048, CAD (B117)
6.27%
Province of Quebec, 3.5% 1dec2045, CAD (B112)
5.75%
Province of Ontario, 3.5% 2jun2043, CAD (DMTN214)
5.23%
Province of Ontario, 2.8% 2jun2048, CAD (DMTN231)
5.02%
Province of Ontario, 2.9% 2jun2049, CAD (DMTN236)
3.80%
Province of Quebec, 5% 1dec2041, CAD (B102)
3.58%
Province of Quebec, 4.25% 1dec2043, CAD (B106)
3.24%
ZDB
Canada, Bond 0.5 1oct2030 10Y
18.46%
CMHC, 1.9% 15mar2031, CAD (100)
6.90%
Province of Quebec, 1.5% 1sep2031, CAD (B128)
5.47%
Canada, Bonds 2.25% 1dec2029, CAD
5.20%
Province of Ontario, 2.65% 2dec2050, CAD (DMTN242)
5.12%
Province of Ontario, 2.05% 2jun2030, CAD (DMTN243)
5.10%
Sun Life Financial, 2.06% 1oct2035, CAD (2020-2)
5.00%
Toronto-Dominion Bank, 1.896% 11sep2028, CAD
3.90%
Canada, Bonds 2% 1jun2032, CAD
3.11%
Pembina Pipeline Corporation, 3.31% 1feb2030, CAD (15)
2.63%
Diversification
ZPL
Total weight of top 10 holdings out of 49 total
53.75%
ZDB
Total weight of top 10 holdings out of 48 total
60.88%
Characteristics
Compare
ZPL
ZDB
| Provider | BMO | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Long Term Provincial Bond TR Index - CAD | FTSE Canada Universe Discount Bond Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.71% | 1.89% |
| Meets ESG criteria | No | No |
| Inception Date | March 19, 2013 | February 10, 2014 |
Frequently asked questions about ZPL and ZDB
Which ETF has performed better year to date: ZPL or ZDB?
As of September 2, 2026, ZPL has returned -1.49% year to date, while ZDB has returned -0.15%. ZDB is ahead on YTD performance.
Which ETF is larger by assets under management: ZPL or ZDB?
As of September 2, 2026, ZPL manages $300.88 M in assets, while ZDB manages $1.36 B. ZDB is the larger fund by AUM.
How are ZPL and ZDB managed?
ZPL is passively managed by BMO. It tracks the FTSE Canada Long Term Provincial Bond TR Index - CAD benchmark. ZDB is passively managed by BMO. It tracks the FTSE Canada Universe Discount Bond Index - CAD benchmark.
What sectors do ZPL and ZDB emphasize?
ZPL is most exposed to Municipal and Utilities. ZDB is most exposed to Sovereign, Municipal, and Finance.
Which ETF is attracting more investor flows: ZPL or ZDB?
Year to date, ZPL has seen +$1.85 M in net flows, compared with +$223.22 M for ZDB. ZDB has attracted more net investor money so far.
How do the fees of ZPL and ZDB compare?
ZPL has an expense ratio of 0.28%, while ZDB has an expense ratio of 0.10%.
What are the top holdings of ZPL and ZDB?
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). ZDB's top holdings include Canada, Bond 0.5 1oct2030 10Y, CMHC, 1.9% 15mar2031, CAD (100), and Province of Quebec, 1.5% 1sep2031, CAD (B128).
Which ETF is more diversified: ZPL or ZDB?
ZPL holds 49 securities, while ZDB holds 48. On holdings count, ZPL 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.