When evaluating costs, ZPW features a management fee (MER) of 0.65%, compared to 0.15% for ZMBS. Performance-wise, ZPW has returned 7.96% year-to-date with +$19 M in net flows, whereas ZMBS is at 1.28% with +$12 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
ZPW
ZMBS
| AuM | $107.19 M | $448.35 M |
| Management Fees | 0.65% | 0.15% |
| Exp. ratio | 0.71% | 0.17% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 3, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZPW | -0.58% | +5.22% | +7.96% | +12.67% | +36.05% |
ZMBS | -0.17% | +0.24% | +1.28% | +2.31% | +13.62% | |
| Flows | ZPW | +$2 M | +$0 M | +$19 M | +$29 M | +$43 M |
ZMBS | -$5 M | -$15 M | +$12 M | +$32 M | +$144 M |
ZPW vs ZMBS exposure
Countries
ZPW
Other
100.00%
ZMBS
Other
100.00%
Sectors
ZPW
Other
100.00%
ZMBS
Other
100.00%
As of September 3, 2026
Top 10 Holdings
ZPW
CA05581B1013
96.40%
ZMBS
CA62989ZXQ58
12.30%
CA62978ZSZ40
9.79%
CA62976Z7R73
8.92%
CA62985ZGG06
6.47%
CA62969ZJ282
6.20%
CA62973Z7C36
5.65%
CA62992ZXE73
4.87%
CA62972ZWF93
4.54%
CA62976ZU425
4.53%
CA62982ZQC19
3.94%
Diversification
ZPW
Total weight of top 10 holdings out of 1 total
96.40%
ZMBS
Total weight of top 10 holdings out of 34 total
67.21%
Characteristics
Compare
ZPW
ZMBS
| Provider | BMO | BMO |
| Management | Actively managed | Passively managed |
| Benchmark | - | FTSE Canada NHA MBS 975 GTR Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 9.44% | 2.98% |
| Meets ESG criteria | No | No |
| Inception Date | September 2, 2015 | February 11, 2020 |
Frequently asked questions about ZPW and ZMBS
Which ETF has performed better year to date: ZPW or ZMBS?
As of September 3, 2026, ZPW has returned 7.96% year to date, while ZMBS has returned 1.28%. ZPW is ahead on YTD performance.
Which ETF is larger by assets under management: ZPW or ZMBS?
As of September 3, 2026, ZPW manages $107.19 M in assets, while ZMBS manages $448.35 M. ZMBS is the larger fund by AUM.
How are ZPW and ZMBS managed?
ZPW is actively managed by BMO. It does not track an index. ZMBS is passively managed by BMO. It tracks the FTSE Canada NHA MBS 975 GTR Index - CAD benchmark.
Which ETF is attracting more investor flows: ZPW or ZMBS?
Year to date, ZPW has seen +$18.81 M in net flows, compared with +$12.24 M for ZMBS. ZPW has attracted more net investor money so far.
How do the fees of ZPW and ZMBS compare?
ZPW has an expense ratio of 0.71%, while ZMBS has an expense ratio of 0.17%.
Which ETF is more diversified: ZPW or ZMBS?
ZPW holds 1 securities, while ZMBS holds 1. On holdings count, ZPW 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.