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Compare BMO Short-Term Bond Index ETF (ZSB) vs iShares Canadian Universe Bond Index ETF (XBB) to find the best fit for your portfolio. ZSB provides Sovereign, Finance, and Municipal exposures, while XBB is primarily weighted in Sovereign, Municipal, and Finance. When evaluating costs, ZSB features a management fee (MER) of 0.09%, compared to 0.09% for XBB. Performance-wise, ZSB has returned 0.8% year-to-date with +$63 M in net flows, whereas XBB is at 0.07% 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
XBB
| AuM | $217.95 M | $10,955.39 M |
| Management Fees | 0.09% | 0.09% |
| Exp. ratio | 0.10% | 0.10% |
| 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% |
XBB | -0.06% | -1.12% | -0.07% | -1.25% | +15.79% | |
| Flows | ZSB | +$37 M | +$37 M | +$63 M | +$73 M | +$77 M |
XBB | +$164 M | +$1,077 M | +$2,126 M | +$2,700 M | +$4,882 M |
ZSB vs XBB exposure
Countries
ZSB
Canada
97.94%
XBB
Canada
96.80%
Sectors
ZSB
Sovereign
39.23%
Finance
19.87%
Municipal
15.92%
Government Agencies
13.47%
Other
11.51%
XBB
Sovereign
33.82%
Municipal
28.72%
Finance
14.06%
Government Agencies
7.21%
Other
16.19%
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%
XBB
Canada, Bonds 2.75% 1sep2030, CAD
1.54%
Canada, Bonds 2.75% 1mar2031, CAD
1.52%
Canada, Bonds 3.25% 1dec2035, CAD
1.50%
Canada, Bonds 3.25% 1jun2036, CAD
1.46%
Canada, Bonds 3.25% 1jun2035, CAD
1.40%
Canada, Bonds 3% 1sep2031, CAD
1.28%
Canada, Bonds 2.75% 1mar2030, CAD
1.21%
Canada, Bonds 3% 1jun2034, CAD
1.21%
Canada, Bonds 3.5% 1dec2057, CAD
1.16%
Canada, Bonds 3.5% 1sep2029, CAD
1.14%
Diversification
ZSB
Total weight of top 10 holdings out of 52 total
46.53%
XBB
Total weight of top 10 holdings out of 1,904 total
13.40%
Characteristics
Compare
ZSB
XBB
| Provider | BMO | iShares |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Short Term Overall Bond TR Index - CAD | FTSE Canada Universe Bond TR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.18% | 3.52% |
| Meets ESG criteria | No | No |
| Inception Date | March 7, 2018 | November 20, 2000 |
Frequently asked questions about ZSB and XBB
Which ETF has performed better year to date: ZSB or XBB?
As of October 20, 2026, ZSB has returned 0.80% year to date, while XBB has returned -0.07%. ZSB is ahead on YTD performance.
Which ETF is larger by assets under management: ZSB or XBB?
As of October 20, 2026, ZSB manages $217.95 M in assets, while XBB manages $10.96 B. XBB is the larger fund by AUM.
How are ZSB and XBB managed?
ZSB is passively managed by BMO. It tracks the FTSE Canada Short Term Overall Bond TR Index - CAD benchmark. XBB is passively managed by iShares. It tracks the FTSE Canada Universe Bond TR Index - CAD benchmark.
What sectors do ZSB and XBB emphasize?
ZSB is most exposed to Sovereign, Finance, and Municipal. XBB is most exposed to Sovereign, Municipal, and Finance.
Which ETF is attracting more investor flows: ZSB or XBB?
Year to date, ZSB has seen +$63.42 M in net flows, compared with +$2,126.21 M for XBB. XBB has attracted more net investor money so far.
How do the fees of ZSB and XBB compare?
ZSB has an expense ratio of 0.10%, while XBB has an expense ratio of 0.10%.
What are the top holdings of ZSB and XBB?
ZSB's largest holdings include Canada, Bonds 4% 1mar2029, CAD, Canada, Bonds 3.25% 1sep2028, CAD, and Canada, Bonds 2.75% 1mar2031, CAD. XBB's top holdings include Canada, Bonds 2.75% 1sep2030, CAD, Canada, Bonds 2.75% 1mar2031, CAD, and Canada, Bonds 3.25% 1dec2035, CAD.
Which ETF is more diversified: ZSB or XBB?
ZSB holds 52 securities, while XBB holds 1878. On holdings count, XBB 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.