VS
Compare BMO Short-Term Bond Index ETF (ZSB) vs RBC Canadian Discount Bond ETF (RCDB) to find the best fit for your portfolio. ZSB provides Sovereign, Finance, and Municipal exposures, while RCDB is primarily weighted in Finance, Municipal, and Sovereign. When evaluating costs, ZSB features a management fee (MER) of 0.09%, compared to 0.15% for RCDB. Performance-wise, ZSB has returned 0.88% year-to-date with +$64 M in net flows, whereas RCDB is at 1.02% with +$129 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
RCDB
| AuM | $218.61 M | $1,386.64 M |
| Management Fees | 0.09% | 0.15% |
| Exp. ratio | 0.10% | 0.17% |
| Tracking Difference | - | - |
Historical performance and flows
As of October 21, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZSB | +0.17% | -0.35% | +0.88% | +0.81% | +14.59% |
RCDB | +0.16% | -0.28% | +1.02% | +0.95% | +14.85% | |
| Flows | ZSB | +$37 M | +$38 M | +$64 M | +$73 M | +$77 M |
RCDB | -$44 M | -$23 M | +$129 M | +$147 M | +$329 M |
ZSB vs RCDB exposure
Countries
ZSB
Canada
97.94%
RCDB
Canada
99.08%
Sectors
ZSB
Sovereign
39.23%
Finance
19.87%
Municipal
15.92%
Government Agencies
13.47%
Other
11.51%
RCDB
Finance
32.14%
Municipal
16.92%
Sovereign
16.13%
Utilities
7.90%
Government Agencies
7.17%
Other
19.73%
As of October 21, 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%
RCDB
Canada, Bond 2 1jun2028 10Y
4.51%
Canada, Bond 0.5 1oct2030 10Y
3.70%
CMHC, 2.35% 15mar2028, CAD (80)
3.42%
Province of Ontario, 1.55% 1nov2029, CAD (DMTN251)
3.40%
Bell Canada, 1.65% 16aug2027, CAD (M-53)
2.24%
Province of Quebec, 1.9% 1sep2030, CAD (B127)
2.05%
CMHC, 1.75% 15jun2030, CAD (92)
2.02%
Royal Bank of Canada, 3.572% 9dec2031, CAD
1.92%
Hydro-Quebec, 2% 1sep2028, CAD (0082)
1.88%
Canada, Bonds 1.5% 1dec2031 10Y
1.78%
Diversification
ZSB
Total weight of top 10 holdings out of 52 total
46.53%
RCDB
Total weight of top 10 holdings out of 111 total
26.91%
Characteristics
Compare
ZSB
RCDB
| Provider | BMO | RBC Global Asset Management |
| 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 | 3.17% | 2.26% |
| Meets ESG criteria | No | No |
| Inception Date | March 7, 2018 | June 12, 2019 |
Frequently asked questions about ZSB and RCDB
Which ETF has performed better year to date: ZSB or RCDB?
As of October 21, 2026, ZSB has returned 0.88% year to date, while RCDB has returned 1.02%. RCDB is ahead on YTD performance.
Which ETF is larger by assets under management: ZSB or RCDB?
As of October 21, 2026, ZSB manages $218.61 M in assets, while RCDB manages $1.39 B. RCDB is the larger fund by AUM.
How are ZSB and RCDB managed?
ZSB is passively managed by BMO. It tracks the FTSE Canada Short Term Overall Bond TR Index - CAD benchmark. RCDB is actively managed by RBC Global Asset Management. It does not track an index.
What sectors do ZSB and RCDB emphasize?
ZSB is most exposed to Sovereign, Finance, and Municipal. RCDB is most exposed to Finance, Municipal, and Sovereign.
Which ETF is attracting more investor flows: ZSB or RCDB?
Year to date, ZSB has seen +$63.90 M in net flows, compared with +$128.61 M for RCDB. RCDB has attracted more net investor money so far.
How do the fees of ZSB and RCDB compare?
ZSB has an expense ratio of 0.10%, while RCDB has an expense ratio of 0.17%.
What are the top holdings of ZSB and RCDB?
ZSB's largest holdings include Canada, Bonds 4% 1mar2029, CAD, Canada, Bonds 3.25% 1sep2028, CAD, and Canada, Bonds 2.75% 1mar2031, CAD. RCDB's top holdings include Canada, Bond 2 1jun2028 10Y, Canada, Bond 0.5 1oct2030 10Y, and CMHC, 2.35% 15mar2028, CAD (80).
Which ETF is more diversified: ZSB or RCDB?
ZSB holds 52 securities, while RCDB holds 111. On holdings count, RCDB is the more diversified portfolio.
Recent articles about ZSB and RCDB
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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.