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Compare BMO Short-Term Bond Index ETF (ZSB) vs TD Canadian Aggregate Bond Index ETF (TDB) to find the best fit for your portfolio. ZSB provides Sovereign, Finance, and Municipal exposures, while TDB is primarily weighted in Sovereign, Municipal, and Finance. When evaluating costs, ZSB features a management fee (MER) of 0.09%, compared to 0.08% for TDB. Performance-wise, ZSB has returned 0.88% year-to-date with +$64 M in net flows, whereas TDB is at 0.16% with +$2 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
ZSB
TDB
| AuM | $218.61 M | $4,336.14 M |
| Management Fees | 0.09% | 0.08% |
| Exp. ratio | 0.10% | 0.08% |
| Tracking Difference | - | -0.08% |
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% |
TDB | +0.20% | -0.90% | +0.16% | -0.96% | +15.00% | |
| Flows | ZSB | +$37 M | +$38 M | +$64 M | +$73 M | +$77 M |
TDB | +$83 M | +$321 M | +$1,576 M | +$1,926 M | +$3,323 M |
ZSB vs TDB exposure
Countries
ZSB
Canada
97.94%
TDB
Canada
96.85%
Sectors
ZSB
Sovereign
39.23%
Finance
19.87%
Municipal
15.92%
Government Agencies
13.47%
Other
11.51%
TDB
Sovereign
35.48%
Municipal
27.50%
Finance
11.57%
Government Agencies
10.23%
Other
15.22%
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%
TDB
Canada, Bonds 3.25% 1dec2035, CAD
1.57%
Canada, Bonds 2.75% 1sep2030, CAD
1.49%
Canada, Bond 1.5 1jun2031 10Y
1.44%
Canada, Bonds 1.5% 1dec2031 10Y
1.34%
Canada, Bonds 2.75% 1mar2031, CAD
1.33%
Canada, Bonds 3.25% 1jun2036, CAD
1.29%
Canada, Bond 1.25 1jun2030 10Y
1.28%
Canada, Bonds 3.25% 1jun2035, CAD
1.19%
Canada, Bonds 2.75% 1sep2027, CAD
1.19%
Canada, Bond 0.5 1oct2030 10Y
1.19%
Diversification
ZSB
Total weight of top 10 holdings out of 52 total
46.53%
TDB
Total weight of top 10 holdings out of 1,598 total
13.30%
Characteristics
Compare
ZSB
TDB
| Provider | BMO | TD Asset Management |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Short Term Overall Bond TR Index - CAD | Solactive Broad Canadian Bond Universe GTR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.17% | 3.44% |
| Meets ESG criteria | No | No |
| Inception Date | March 7, 2018 | March 22, 2016 |
Frequently asked questions about ZSB and TDB
Which ETF has performed better year to date: ZSB or TDB?
As of October 21, 2026, ZSB has returned 0.88% year to date, while TDB has returned 0.16%. ZSB is ahead on YTD performance.
Which ETF is larger by assets under management: ZSB or TDB?
As of October 21, 2026, ZSB manages $218.61 M in assets, while TDB manages $4.34 B. TDB is the larger fund by AUM.
How are ZSB and TDB managed?
ZSB is passively managed by BMO. It tracks the FTSE Canada Short Term Overall Bond TR Index - CAD benchmark. TDB is passively managed by TD Asset Management. It tracks the Solactive Broad Canadian Bond Universe GTR Index - CAD benchmark.
What sectors do ZSB and TDB emphasize?
ZSB is most exposed to Sovereign, Finance, and Municipal. TDB is most exposed to Sovereign, Municipal, and Finance.
Which ETF is attracting more investor flows: ZSB or TDB?
Year to date, ZSB has seen +$63.90 M in net flows, compared with +$1,576.08 M for TDB. TDB has attracted more net investor money so far.
How do the fees of ZSB and TDB compare?
ZSB has an expense ratio of 0.10%, while TDB has an expense ratio of 0.08%.
What are the top holdings of ZSB and TDB?
ZSB's largest holdings include Canada, Bonds 4% 1mar2029, CAD, Canada, Bonds 3.25% 1sep2028, CAD, and Canada, Bonds 2.75% 1mar2031, CAD. TDB's top holdings include Canada, Bonds 3.25% 1dec2035, CAD, Canada, Bonds 2.75% 1sep2030, CAD, and Canada, Bond 1.5 1jun2031 10Y.
Which ETF is more diversified: ZSB or TDB?
ZSB holds 52 securities, while TDB holds 1577. On holdings count, TDB 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.