A side-by-side comparison of CIBC Global Bond ex-Canada Index ETF (CAD-Hedged) (CGBI) and BMO Government Bond Index ETF (ZGB) to help Canadian investors make an informed decision.
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1-Year Performance
Normalised to 100 at the start — shows relative return over the trailing 12 months.
Head-to-Head Comparison
| Metric | CGBI | ZGB |
|---|---|---|
| YTD Return | -0.57% | +1.30%✓ |
| 1-Day Change | -0.11% | -0.02%✓ |
| 1-Week Change | 0.00% | +0.17%✓ |
| 1-Month Change | +0.29%✓ | +0.28% |
| Current Price | $17.44 | $45.96 |
| AUM | $741M | $1.28B✓ |
| MER (Expense Ratio) | 0.19% | 0%✓ |
| Dividend Yield | 2.78% | 3.04%✓ |
| Distribution Frequency | Monthly | Quarterly |
| Inception Date | 2021-09-13 | 2018-03-01 |
| Holdings Count | 1 | 9 |
| MorningStar Rating | ★★★ | ★★ |
| Category | Global Fixed Income | Canadian Fixed Income |
| Beta | 0.53 | 1.07 |
| 52-Week High | $17.63 | $45.99 |
| 52-Week Low | $17.00 | $43.71 |
| 50-Day MA | $17.41 | $45.62 |
| 200-Day MA | $17.57 | $45.88 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | CGBI | ZGB |
|---|---|---|
| YTD | -0.57% | +1.30%✓ |
| 1 Year | +1.62% | +3.29%✓ |
| 3 Year | +2.65% | +3.87%✓ |
| 5 Year | — | +0.06% |
| 10 Year | — | — |
| 1Y Volatility | 2.86% | 4.35% |
| Sharpe Ratio (3Y) | -0.27 | -0.03 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | MBB | iShares MBS ETF | 13.44% |
| 1 | Quebec (Province Of) 3.5% | 2.92% | |
| 2 | Ontario (Province Of) 2.4% | 2.65% | |
| 3 | Quebec (Province Of) | 2.56% | |
| 4 | Ontario (Province Of) 2.6% | 2.46% | |
| 5 | Canada Housing Trust No.1 2.9% | 2.40% | |
| 6 | Canada (Government of) 1.75% | 2.33% | |
| 7 | Canada Housing Trust No.1 1.95% | 2.27% | |
| 8 | Canada (Government of) | 2.15% | |
| 9 | Canada (Government of) 2.5% | 2.08% |
Sector Weights
| Sector | CGBI | ZGB |
|---|---|---|
| Basic Materials | 0.00% | 0.00% |
| Communication Services | 0.00% | 0.00% |
| Consumer Cyclicals | 0.00% | 0.00% |
| Consumer Defensive | 0.00% | 0.00% |
| Energy | 0.00% | 0.00% |
| Financial Services | 0.00% | 0.00% |
| Healthcare | 0.00% | 0.00% |
| Industrials | 0.00% | 0.00% |
| Real Estate | 0.00% | 0.00% |
| Technology | 0.00% | 0.00% |
| Utilities | 0.00% | 0.00% |
About CGBI
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About ZGB
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Which ETF is Right for You?
Both CGBI and ZGB are listed on Canadian exchanges and accessible through most Canadian brokerages including Questrade, Wealthsimple Trade, TD Direct, and Interactive Brokers.
Based on the available data, ZGB scores higher across our tracked metrics including YTD performance, dividend yield, and AUM — though both ETFs warrant individual research before investing.
- Consider your account type (TFSA, RRSP, non-registered) as it can affect dividend taxation.
- Compare management expense ratios (MER) directly on each provider's website.
- Look at average daily trading volume to assess liquidity.
- Review the fund's underlying index and holdings to ensure the exposure matches your goals.
This is not financial advice. Always do your own research or consult a licensed financial advisor before investing.
Frequently Asked Questions
What is the difference between CGBI and ZGB?
CGBI (CIBC Global Bond ex-Canada Index ETF (CAD-Hedged)) and ZGB (BMO Government Bond Index ETF) are both Canadian-listed ETFs. Key differences include their AUM ($741M vs $1.28B), dividend yield (2.78% vs 3.04%), and year-to-date performance (-0.57% vs +1.30%).
Is CGBI better than ZGB?
There is no single "better" ETF — it depends on your investment goals. If you prioritise dividends, compare both yields and choose based on your income needs. Always review the fund's prospectus and consider your tax situation.
Can I buy CGBI and ZGB on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both CGBI and ZGB should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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