VS
BMO Ultra Short-Term Bond ETF (ZST) and RBC Target 2030 Canadian Corporate Bond Index ETF (RQS) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZST focuses its top 3 sector exposures on Finance, Utilities, and Energy, while RQS leans towards Finance, Energy, and Utilities. When evaluating costs, ZST features a management fee (MER) of 0.15%, compared to 0.2% for RQS. Performance-wise, ZST has returned 1.71% year-to-date with -$663 M in net flows, whereas RQS is at 0.83% with +$133 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
ZST
RQS
| AuM | $3,442.84 M | $436.52 M |
| Management Fees | 0.15% | 0.20% |
| Exp. ratio | 0.17% | 0.22% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 2, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZST | +0.17% | +0.64% | +1.71% | +2.70% | +12.54% |
RQS | -0.61% | -0.42% | +0.83% | +2.36% | - | |
| Flows | ZST | -$57 M | -$86 M | -$663 M | -$1,197 M | +$2,342 M |
RQS | +$18 M | +$51 M | +$133 M | +$191 M | - |
ZST vs RQS exposure
Countries
ZST
Canada
91.33%
Other
8.67%
RQS
Canada
95.84%
Sectors
ZST
Finance
63.91%
Utilities
9.70%
Energy
8.99%
Other
17.40%
RQS
Finance
73.14%
Energy
9.80%
Utilities
7.37%
Other
9.69%
As of September 2, 2026
Top 10 Holdings
ZST
Bank of Nova Scotia, 1.85% 2nov2026, CAD
9.85%
North West Redwater Partnership, 2.8% 1jun2027, CAD (J)
6.76%
Royal Bank of Canada, 2.14% 3nov2031, CAD (24)
6.59%
Alectra, 2.488% 17may2027, CAD (A)
6.17%
Sun Life Financial, 2.58% 10may2032, CAD (2020-1)
5.78%
Sun Life Financial, 2.46% 18nov2031, CAD (2021-1)
4.05%
Ventas, 2.45% 4jan2027, CAD (G)
3.93%
Toronto-Dominion Bank, 2.26% 7jan2027, CAD
3.72%
CIBC, 2.25% 7jan2027, CAD (7449)
3.62%
Mercedes-Benz Group, 2.46% 15dec2026, CAD
2.99%
RQS
Royal Bank of Canada, 3.985% 22jul2031, CAD
6.71%
Toronto-Dominion Bank, 3.605% 10sep2031, CAD
5.02%
Bank of Montreal, 3.731% 3jun2031, CAD
5.02%
Bank of Nova Scotia, 3.734% 27jun2031, CAD
4.79%
Toronto-Dominion Bank, 3.842% 29may2031, CAD
4.57%
CIBC, 3.9% 20jun2031, CAD
4.26%
Athene Global Funding, 4.091% 23may2030, CAD (2025-15)
4.15%
National Bank of Canada, 3.441% 21oct2031, CAD
3.30%
Manulife Financial Corporation, 2.818% 13may2035, CAD
3.22%
TransCanada PipeLines, 5.277% 15jul2030, CAD
3.13%
Diversification
ZST
Total weight of top 10 holdings out of 49 total
53.45%
RQS
Total weight of top 10 holdings out of 42 total
44.18%
Characteristics
Compare
ZST
RQS
| Provider | BMO | RBC Global Asset Management |
| Management | Actively managed | Passively managed |
| Benchmark | - | FTSE Canada 2030 Maturity Corporate Bond Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.50% | 3.75% |
| Meets ESG criteria | No | No |
| Inception Date | February 3, 2011 | April 24, 2024 |
Frequently asked questions about ZST and RQS
Which ETF has performed better year to date: ZST or RQS?
As of September 2, 2026, ZST has returned 1.71% year to date, while RQS has returned 0.83%. ZST is ahead on YTD performance.
Which ETF is larger by assets under management: ZST or RQS?
As of September 2, 2026, ZST manages $3.44 B in assets, while RQS manages $436.52 M. ZST is the larger fund by AUM.
How are ZST and RQS managed?
ZST is actively managed by BMO. It does not track an index. RQS is passively managed by RBC Global Asset Management. It tracks the FTSE Canada 2030 Maturity Corporate Bond Index - CAD benchmark.
What sectors do ZST and RQS emphasize?
ZST is most exposed to Finance, Utilities, and Energy. RQS is most exposed to Finance, Energy, and Utilities.
Which ETF is attracting more investor flows: ZST or RQS?
Year to date, ZST has seen -$663.33 M in net flows, compared with +$132.83 M for RQS. RQS has attracted more net investor money so far.
How do the fees of ZST and RQS compare?
ZST has an expense ratio of 0.17%, while RQS has an expense ratio of 0.22%.
What are the top holdings of ZST and RQS?
ZST's largest holdings include Bank of Nova Scotia, 1.85% 2nov2026, CAD, North West Redwater Partnership, 2.8% 1jun2027, CAD (J), and Royal Bank of Canada, 2.14% 3nov2031, CAD (24). RQS's top holdings include Royal Bank of Canada, 3.985% 22jul2031, CAD, Toronto-Dominion Bank, 3.605% 10sep2031, CAD, and Bank of Montreal, 3.731% 3jun2031, CAD.
Which ETF is more diversified: ZST or RQS?
ZST holds 49 securities, while RQS holds 42. On holdings count, ZST is the more diversified portfolio.
Recent articles about ZST and RQS
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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.