VS
Compare BMO Short-Term Bond Index ETF (ZSB) vs NBI Sustainable Canadian Bond ETF (NSCB) to find the best fit for your portfolio. ZSB provides Sovereign, Finance, and Municipal exposures, while NSCB is primarily weighted in Finance, Sovereign, and Utilities. When evaluating costs, ZSB features a management fee (MER) of 0.09%, compared to 0.63% for NSCB. Performance-wise, ZSB has returned 0.8% year-to-date with +$63 M in net flows, whereas NSCB is at 2.7% with +$39 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
ZSB
NSCB
| AuM | $217.95 M | $2,802.47 M |
| Management Fees | 0.09% | 0.63% |
| Exp. ratio | 0.10% | 0.61% |
| Tracking Difference | - | - |
Historical performance and flows
As of October 20, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZSB | +0.09% | -0.38% | +0.80% | +0.64% | +14.73% |
NSCB | -0.39% | -2.01% | -2.70% | -4.86% | +5.61% | |
| Flows | ZSB | +$37 M | +$37 M | +$63 M | +$73 M | +$77 M |
NSCB | +$1 M | +$43 M | +$39 M | +$52 M | +$913 M |
ZSB vs NSCB exposure
Countries
ZSB
Canada
97.94%
NSCB
Canada
94.79%
Sectors
ZSB
Sovereign
39.23%
Finance
19.87%
Municipal
15.92%
Government Agencies
13.47%
Other
11.51%
NSCB
Finance
28.83%
Sovereign
19.54%
Utilities
19.38%
Municipal
16.63%
Industrials
7.35%
Other
8.27%
As of October 20, 2026
Top 10 Holdings
ZSB
Canada, Bonds 4% 1mar2029, CAD
7.44%
Canada, Bonds 3.25% 1sep2028, CAD
6.27%
Canada, Bonds 2.75% 1mar2031, CAD
6.09%
Canada, Bonds 3.5% 1sep2029, CAD
5.25%
Canada, Bonds 2.75% 1mar2030, CAD
5.12%
Canada, Bonds 2.75% 1sep2030, CAD
4.08%
Canada, Bonds 3.5% 1mar2028, CAD
3.15%
CMHC, 2.65% 15dec2028, CAD (85)
3.09%
Canada Housing Trust, 2.9% 15dec2029, CAD (123)
3.09%
Province of Ontario, 2.05% 2jun2030, CAD (DMTN243)
2.97%
NSCB
Canada, Bonds 3.5% 1mar2034, CAD
9.82%
Canada, Bonds 3.25% 1mar2036, CAD
4.47%
Hydro-Quebec, 5% 15feb2050, CAD (JN)
3.20%
Canada, Bonds 3.5% 1dec2056, CAD (D)
2.72%
Province of Ontario, 4.1% 7oct2054, CAD (DMTN267)
2.62%
Canada, Bonds 3% 1mar2032, CAD (C)
2.53%
PSP Capital, 4.4% 2dec2030, CAD (G-13)
2.49%
PSP Capital, 2.6% 1mar2032, CAD (G-4)
2.40%
Hydro-Quebec, 4% 15feb2055, CAD (JQ)
2.29%
Province of Ontario, FRN 19nov2030, CAD (DMTN274)
2.19%
Diversification
ZSB
Total weight of top 10 holdings out of 52 total
46.53%
NSCB
Total weight of top 10 holdings out of 158 total
34.72%
Characteristics
Compare
ZSB
NSCB
| Provider | BMO | National Bank Investments |
| Management | Passively managed | Actively managed |
| Benchmark | FTSE Canada Short Term Overall Bond TR Index - CAD | - |
| Replication Method | Direct (Physical) | - |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.18% | 0.00% |
| Meets ESG criteria | No | Yes |
| Inception Date | March 7, 2018 | January 23, 2020 |
Frequently asked questions about ZSB and NSCB
Which ETF has performed better year to date: ZSB or NSCB?
As of October 20, 2026, ZSB has returned 0.80% year to date, while NSCB has returned -2.70%. ZSB is ahead on YTD performance.
Which ETF is larger by assets under management: ZSB or NSCB?
As of October 20, 2026, ZSB manages $217.95 M in assets, while NSCB manages $2.80 B. NSCB is the larger fund by AUM.
How are ZSB and NSCB managed?
ZSB is passively managed by BMO. It tracks the FTSE Canada Short Term Overall Bond TR Index - CAD benchmark. NSCB is actively managed by National Bank Investments. It does not track an index.
What sectors do ZSB and NSCB emphasize?
ZSB is most exposed to Sovereign, Finance, and Municipal. NSCB is most exposed to Finance, Sovereign, and Utilities.
Which ETF is attracting more investor flows: ZSB or NSCB?
Year to date, ZSB has seen +$63.42 M in net flows, compared with +$39.15 M for NSCB. ZSB has attracted more net investor money so far.
How do the fees of ZSB and NSCB compare?
ZSB has an expense ratio of 0.10%, while NSCB has an expense ratio of 0.61%.
What are the top holdings of ZSB and NSCB?
ZSB's largest holdings include Canada, Bonds 4% 1mar2029, CAD, Canada, Bonds 3.25% 1sep2028, CAD, and Canada, Bonds 2.75% 1mar2031, CAD. NSCB's top holdings include Canada, Bonds 3.5% 1mar2034, CAD, Canada, Bonds 3.25% 1mar2036, CAD, and Hydro-Quebec, 5% 15feb2050, CAD (JN).
Which ETF is more diversified: ZSB or NSCB?
ZSB holds 52 securities, while NSCB holds 152. On holdings count, NSCB is the more diversified portfolio.
Recent articles about ZSB and NSCB
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