Question 1

What is ZCS?

Accepted Answer

ZCS — BMO Short Corporate Bond Index ETF — is a Canadian-listed ETF trading on the TSX. The BMO Short Corporate Bond Index ETF has been designed to replicate, to the extent possible, the performance of the FTSE TMX Canada Short Term Corporate Bond Index, net of expenses. BMO Short Corporate Bond ETF invests in a variety of debt securities primarily with a term to maturity between one and five years. Securities held in the Index are generally corporate bonds issued domestically in Can…

Question 2

What is the ZCS ETF price today?

Accepted Answer

ZCS last traded at $13.78 CAD on the TSX. See the price chart above for recent performance.

Question 3

What is the ZCS MER (management expense ratio)?

Accepted Answer

ZCS has a management expense ratio (MER) of 0% per year. This fee is automatically deducted from the fund's assets, so you never pay it directly — but it does reduce your net returns over time. At 0%, ZCS is considered a low-cost ETF.

Question 4

What are ZCS annualised returns?

Accepted Answer

ZCS historical returns: YTD: -1.85%, 1-year: +1.69%, 3-year annualised: +5.96%, 5-year annualised: +2.80%, 10-year annualised: +2.67%. Past performance is not a guarantee of future results. The 3-year Sharpe ratio is 1.12, which measures risk-adjusted return.

Question 5

Does ZCS pay dividends or distributions?

Accepted Answer

Yes, ZCS distributes income to unitholders. The current distribution yield is approximately 4.01%, paid monthly. Distributions may include dividends, interest, capital gains, or return of capital depending on the fund's holdings. In a TFSA or RRSP, distributions are sheltered from tax.

Question 6

What does ZCS invest in?

Accepted Answer

ZCS's top holdings include Bank of Nova Scotia 2.38% (null, 1.7%), Canadian Imperial Bank of Commerce 3.3% (null, 1.3%), Royal Bank of Canada 2.35% (null, 1.3%), Bank of Montreal 2.7% (null, 1.2%), Bank of Montreal 2.27% (null, 1.1%) — and 5 more positions. See the full Top 10 Holdings table above for a complete breakdown. The fund tracks the Morningstar Can 1-5Y Core Bd GR CAD.

Question 7

What sectors does ZCS invest in?

Accepted Answer

ZCS's largest sector exposures are Energy (0.0%), Utilities (0.0%), Healthcare (0.0%). The full sector breakdown is shown in the Sector Weights table on this page.

Question 8

How large is ZCS? (Assets under management)

Accepted Answer

ZCS has approximately $4.66B in assets under management (AUM). Larger AUM generally means better liquidity, tighter bid-ask spreads, and a lower risk of the fund being wound down.

Question 9

When was ZCS launched?

Accepted Answer

ZCS was launched on October 20, 2009, giving it a 17-year track record. A longer history makes it easier to evaluate how the ETF performs across different market cycles.

Question 10

How do I buy ZCS in Canada?

Accepted Answer

ZCS trades on the TSX under the ticker ZCS. You can buy it through any Canadian brokerage, including Wealthsimple Trade (commission-free), Questrade, TD Direct Investing, RBC Direct, and CIBC Investor's Edge. It can be held in a TFSA, RRSP, FHSA, or taxable account.

Question 11

How risky is ZCS?

Accepted Answer

ZCS has a 1-year volatility of 1.76% and a beta of 1.07 (roughly in line with the broad market). Its 3-year Sharpe ratio of 1.12 indicates solid risk-adjusted returns. As with all market-linked investments, past volatility does not predict future risk.

Date	Open	High	Low	Close	Adj Close	Volume
2026-10-01	$13.76	$13.78	$13.75	$13.78	$13.78	128,415
2026-09-30	$13.74	$13.76	$13.74	$13.74	$13.74	71,051
2026-09-29	$13.75	$13.76	$13.74	$13.75	$13.75	117,045
2026-09-28	$13.78	$13.80	$13.78	$13.80	$13.80	56,338
2026-09-25	$13.80	$13.81	$13.78	$13.81	$13.81	1,012,589
2026-09-24	$13.79	$13.81	$13.78	$13.78	$13.78	72,839
2026-09-23	$13.83	$13.83	$13.78	$13.79	$13.79	47,314
2026-09-22	$13.83	$13.85	$13.83	$13.85	$13.85	110,981
2026-09-21	$13.82	$13.83	$13.82	$13.83	$13.83	77,080
2026-09-18	$13.82	$13.82	$13.80	$13.81	$13.81	100,779

#	Name	Weight
1	Bank of Nova Scotia 2.38%	1.67%
2	Canadian Imperial Bank of Commerce 3.3%	1.34%
3	Royal Bank of Canada 2.35%	1.29%
4	Bank of Montreal 2.7%	1.24%
5	Bank of Montreal 2.27%	1.14%
6	Royal Bank of Canada 3.3%	1.08%
7	Royal Bank of Canada 2.61%	1.04%
8	Bank of Nova Scotia 2.98%	1.02%
9	The Toronto-Dominion Bank	0.95%
10	The Toronto-Dominion Bank 3%	0.95%

Sector	Weight
Energy	0.00%
Utilities	0.00%
Healthcare	0.00%
Technology	0.00%
Industrials	0.00%
Real Estate	0.00%
Basic Materials	0.00%
Consumer Cyclicals	0.00%
Consumer Defensive	0.00%
Financial Services	0.00%
Communication Services	0.00%

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CIBC Investor's Edge

BMO Short Corporate Bond Index ETF (ZCS : TSX)

Price Chart (30 Days)

Key Statistics

Recent Price History

Annualised Returns

Top 10 Holdings

Sector Weights

About BMO Short Corporate Bond Index ETF

ETF Details

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Frequently Asked Questions — ZCS