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BMO Target 2029 Canadian Corporate Bond ETF (ZXCQ) and BMO Government Bond Index ETF (ZGB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZXCQ focuses its top 3 sector exposures on Finance, Energy, and Telecommunications, while ZGB leans towards Sovereign, Municipal, and Government Agencies. When evaluating costs, ZXCQ features a management fee (MER) of 0.17%, compared to 0.15% for ZGB. Performance-wise, ZXCQ has returned 0.87% year-to-date with +$7 M in net flows, whereas ZGB is at 0.27% 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
ZXCQ
ZGB
| AuM | $14.25 M | $1,233.20 M |
| Management Fees | 0.17% | 0.15% |
| Exp. ratio | 0.17% | 0.16% |
| Tracking Difference | - | - |
Historical performance and flows
As of October 20, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZXCQ | +0.04% | -0.49% | +0.87% | +0.60% | - |
ZGB | -0.07% | -1.24% | -0.27% | -1.71% | +13.95% | |
| Flows | ZXCQ | +$0 M | +$2 M | +$7 M | +$9 M | - |
ZGB | +$0 M | -$4 M | -$204 M | -$187 M | +$169 M |
ZXCQ vs ZGB exposure
Countries
ZXCQ
Canada
100.26%
ZGB
Canada
100.00%
Sectors
ZXCQ
Finance
65.62%
Energy
12.29%
Telecommunications
8.09%
Other
14.00%
ZGB
Sovereign
45.15%
Municipal
41.48%
Government Agencies
13.37%
As of October 20, 2026
Top 10 Holdings
ZXCQ
Royal Bank of Canada, 4.829% 8aug2034, CAD (28)
9.88%
Federation des caisses Desjardins du Quebec, FRN 15may2034, CAD
9.77%
Manulife Financial Corporation, 5.054% 23feb2034, CAD
9.51%
Bank of Nova Scotia, 3.836% 26sep2030, CAD
9.03%
Toronto-Dominion Bank, 5.177% 9apr2034, CAD (D)
5.93%
Gildan Activewear, 4.362% 22nov2029, CAD (1)
5.19%
Brookfield Infrastructure Partners, 3.41% 9oct2029, CAD (7)
5.07%
National Bank of Canada, 5.279% 15feb2034, CAD
4.24%
Pembina Pipeline Corporation, 3.62% 3apr2029, CAD (12)
4.09%
Choice Properties REIT, 3.532% 11jun2029, CAD (M)
4.08%
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
ZXCQ
Total weight of top 10 holdings out of 21 total
66.78%
ZGB
Total weight of top 10 holdings out of 50 total
46.41%
Characteristics
Compare
ZXCQ
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 | 4.16% | 2.70% |
| Meets ESG criteria | No | No |
| Inception Date | March 18, 2025 | March 7, 2018 |
Frequently asked questions about ZXCQ and ZGB
Which ETF has performed better year to date: ZXCQ or ZGB?
As of October 20, 2026, ZXCQ has returned 0.87% year to date, while ZGB has returned -0.27%. ZXCQ is ahead on YTD performance.
Which ETF is larger by assets under management: ZXCQ or ZGB?
As of October 20, 2026, ZXCQ manages $14.25 M in assets, while ZGB manages $1.23 B. ZGB is the larger fund by AUM.
How are ZXCQ and ZGB managed?
ZXCQ 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 ZXCQ and ZGB emphasize?
ZXCQ is most exposed to Finance, Energy, and Telecommunications. ZGB is most exposed to Sovereign, Municipal, and Government Agencies.
Which ETF is attracting more investor flows: ZXCQ or ZGB?
Year to date, ZXCQ has seen +$6.50 M in net flows, compared with -$203.91 M for ZGB. ZXCQ has attracted more net investor money so far.
How do the fees of ZXCQ and ZGB compare?
ZXCQ has an expense ratio of 0.17%, while ZGB has an expense ratio of 0.16%.
What are the top holdings of ZXCQ and ZGB?
ZXCQ's largest holdings include Royal Bank of Canada, 4.829% 8aug2034, CAD (28), Federation des caisses Desjardins du Quebec, FRN 15may2034, CAD, and Manulife Financial Corporation, 5.054% 23feb2034, CAD. 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: ZXCQ or ZGB?
ZXCQ holds 21 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.