VS
BMO Short-Term Discount Bond ETF (ZSDB) and iShares Canadian Government Bond Index ETF (XGB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZSDB focuses its top 3 sector exposures on Finance, Sovereign, and Municipal, while XGB leans towards Sovereign, Municipal, and Government Agencies. When evaluating costs, ZSDB features a management fee (MER) of 0.09%, compared to 0.12% for XGB. Performance-wise, ZSDB has returned 0.74% year-to-date with +$67 M in net flows, whereas XGB is at 0.72% with -$212 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
ZSDB
XGB
| AuM | $317.49 M | $1,594.13 M |
| Management Fees | 0.09% | 0.12% |
| Exp. ratio | 0.10% | 0.13% |
| Tracking Difference | - | - |
Historical performance and flows
As of October 19, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZSDB | +0.01% | -0.40% | +0.74% | +0.55% | +15.37% |
XGB | -0.48% | -1.66% | -0.72% | -2.14% | +14.00% | |
| Flows | ZSDB | +$7 M | +$16 M | +$67 M | +$86 M | +$246 M |
XGB | -$65 M | -$36 M | -$212 M | -$119 M | +$681 M |
ZSDB vs XGB exposure
Countries
ZSDB
Canada
100.00%
XGB
Canada
99.18%
Sectors
ZSDB
Finance
40.27%
Sovereign
27.02%
Municipal
12.03%
Utilities
9.12%
Other
11.56%
XGB
Sovereign
44.40%
Municipal
38.41%
Government Agencies
9.61%
Other
7.58%
As of October 19, 2026
Top 10 Holdings
ZSDB
Canada, Bond 0.5 1oct2030 10Y
13.05%
Toronto-Dominion Bank, 1.896% 11sep2028, CAD
11.79%
Canada, Bond 1.25 1jun2030 10Y
7.70%
Royal Bank of Canada, 1.833% 31jul2028, CAD
7.47%
Canada, Bond 2 1jun2028 10Y
6.27%
PSP Capital, 1.5% 15mar2028, CAD (14)
6.23%
Granite REIT Holdings, 2.194% 30aug2028, CAD
4.97%
CGI Inc., 2.1% 18sep2028, CAD
4.95%
Manulife Financial Corporation, 2.818% 13may2035, CAD
4.90%
CMHC, 1.75% 15jun2030, CAD (92)
3.61%
XGB
Canada, Bonds 2.75% 1sep2030, CAD
2.01%
Canada, Bonds 3.25% 1jun2036, CAD
2.00%
Canada, Bonds 2.75% 1mar2031, CAD
1.99%
Canada, Bonds 3.25% 1dec2035, CAD
1.98%
Canada, Bonds 3.25% 1jun2035, CAD
1.81%
Canada, Bonds 3% 1jun2034, CAD
1.57%
Canada, Bonds 3% 1sep2031, CAD
1.55%
Canada, Bonds 2.75% 1mar2030, CAD
1.55%
Canada, Bonds 3.5% 1sep2029, CAD
1.51%
Canada, Bonds 3.5% 1dec2057, CAD
1.50%
Diversification
ZSDB
Total weight of top 10 holdings out of 28 total
70.94%
XGB
Total weight of top 10 holdings out of 550 total
17.48%
Characteristics
Compare
ZSDB
XGB
| Provider | BMO | iShares |
| Management | Actively managed | Passively managed |
| Benchmark | - | FTSE Canada All Government Bond TR Index - CAD |
| Replication Method | - | Direct (Physical) |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.40% | 3.23% |
| Meets ESG criteria | No | No |
| Inception Date | January 17, 2022 | November 6, 2006 |
Frequently asked questions about ZSDB and XGB
Which ETF has performed better year to date: ZSDB or XGB?
As of October 19, 2026, ZSDB has returned 0.74% year to date, while XGB has returned -0.72%. ZSDB is ahead on YTD performance.
Which ETF is larger by assets under management: ZSDB or XGB?
As of October 19, 2026, ZSDB manages $317.49 M in assets, while XGB manages $1.59 B. XGB is the larger fund by AUM.
How are ZSDB and XGB managed?
ZSDB is actively managed by BMO. It does not track an index. XGB is passively managed by iShares. It tracks the FTSE Canada All Government Bond TR Index - CAD benchmark.
What sectors do ZSDB and XGB emphasize?
ZSDB is most exposed to Finance, Sovereign, and Municipal. XGB is most exposed to Sovereign, Municipal, and Government Agencies.
Which ETF is attracting more investor flows: ZSDB or XGB?
Year to date, ZSDB has seen +$66.61 M in net flows, compared with -$212.49 M for XGB. ZSDB has attracted more net investor money so far.
How do the fees of ZSDB and XGB compare?
ZSDB has an expense ratio of 0.10%, while XGB has an expense ratio of 0.13%.
What are the top holdings of ZSDB and XGB?
ZSDB's largest holdings include Canada, Bond 0.5 1oct2030 10Y, Toronto-Dominion Bank, 1.896% 11sep2028, CAD, and Canada, Bond 1.25 1jun2030 10Y. XGB's top holdings include Canada, Bonds 2.75% 1sep2030, CAD, Canada, Bonds 3.25% 1jun2036, CAD, and Canada, Bonds 2.75% 1mar2031, CAD.
Which ETF is more diversified: ZSDB or XGB?
ZSDB holds 28 securities, while XGB holds 549. On holdings count, XGB is the more diversified portfolio.
Recent articles about ZSDB and XGB
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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.