VS
BMO Short-Term Discount Bond ETF (ZSDB) and BMO Government Bond Index ETF (ZGB) 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 ZGB leans towards Sovereign, Municipal, and Government Agencies. When evaluating costs, ZSDB features a management fee (MER) of 0.09%, compared to 0.15% for ZGB. Performance-wise, ZSDB has returned 0.91% year-to-date with +$67 M in net flows, whereas ZGB is at 0.01% with -$204 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
ZGB
| AuM | $318.03 M | $1,236.61 M |
| Management Fees | 0.09% | 0.15% |
| Exp. ratio | 0.10% | 0.16% |
| Tracking Difference | - | - |
Historical performance and flows
As of October 21, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZSDB | +0.17% | -0.29% | +0.91% | +0.81% | +15.05% |
ZGB | +0.21% | -1.00% | +0.01% | -1.33% | +13.54% | |
| Flows | ZSDB | +$7 M | +$16 M | +$67 M | +$87 M | +$246 M |
ZGB | +$0 M | -$4 M | -$204 M | -$187 M | +$169 M |
ZSDB vs ZGB exposure
Countries
ZSDB
Canada
100.00%
ZGB
Canada
100.00%
Sectors
ZSDB
Finance
40.27%
Sovereign
27.02%
Municipal
12.03%
Utilities
9.12%
Other
11.56%
ZGB
Sovereign
45.15%
Municipal
41.48%
Government Agencies
13.37%
As of October 21, 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%
ZGB
Canada, Bond 1.25 1jun2030 10Y
12.58%
Canada, Bonds 2% 1jun2032, CAD
6.26%
Canada, Bonds 1.5% 1dec2031 10Y
6.16%
Canada Housing Trust, 4.25% 15mar2034, CAD (118)
3.50%
Canada, Bonds 3.5% 1mar2028, CAD
3.41%
Canada, Bonds 2.5% 1dec2032, CAD
3.20%
CMHC, 1.75% 15jun2030, CAD (92)
3.20%
Province of Ontario, 2.15% 2jun2031, CAD (DMTN249)
3.19%
Canada, Bonds 2.75% 1dec2055, CAD
2.59%
Province of Ontario, 2.65% 2dec2050, CAD (DMTN242)
2.32%
Diversification
ZSDB
Total weight of top 10 holdings out of 28 total
70.94%
ZGB
Total weight of top 10 holdings out of 50 total
46.41%
Characteristics
Compare
ZSDB
ZGB
| Provider | BMO | BMO |
| 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% | 2.69% |
| Meets ESG criteria | No | No |
| Inception Date | January 17, 2022 | March 7, 2018 |
Frequently asked questions about ZSDB and ZGB
Which ETF has performed better year to date: ZSDB or ZGB?
As of October 21, 2026, ZSDB has returned 0.91% year to date, while ZGB has returned 0.01%. ZSDB is ahead on YTD performance.
Which ETF is larger by assets under management: ZSDB or ZGB?
As of October 21, 2026, ZSDB manages $318.03 M in assets, while ZGB manages $1.24 B. ZGB is the larger fund by AUM.
How are ZSDB and ZGB managed?
ZSDB is actively managed by BMO. It does not track an index. ZGB is passively managed by BMO. It tracks the FTSE Canada All Government Bond TR Index - CAD benchmark.
What sectors do ZSDB and ZGB emphasize?
ZSDB is most exposed to Finance, Sovereign, and Municipal. ZGB is most exposed to Sovereign, Municipal, and Government Agencies.
Which ETF is attracting more investor flows: ZSDB or ZGB?
Year to date, ZSDB has seen +$66.61 M in net flows, compared with -$203.91 M for ZGB. ZSDB has attracted more net investor money so far.
How do the fees of ZSDB and ZGB compare?
ZSDB has an expense ratio of 0.10%, while ZGB has an expense ratio of 0.16%.
What are the top holdings of ZSDB and ZGB?
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. ZGB's top holdings include Canada, Bond 1.25 1jun2030 10Y, Canada, Bonds 2% 1jun2032, CAD, and Canada, Bonds 1.5% 1dec2031 10Y.
Which ETF is more diversified: ZSDB or ZGB?
ZSDB holds 28 securities, while ZGB holds 50. On holdings count, ZGB 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.