Question 1

What is ZFL?

Accepted Answer

ZFL — BMO Long Federal Bond Index ETF — is a Canadian-listed ETF trading on the TSX. The BMO Long Federal Bond Index ETF has been designed to replicate, to the extent possible, the performance of the FTSE TMX Canada Long Term Federal Bond Index, net of expenses. The Fund invests in a variety of debt securities primarily with a term to maturity greater than ten years. Securities held in the Index are generally issued or guaranteed by the Government of Canada, by various agencies of…

Question 2

What is the ZFL ETF price today?

Accepted Answer

ZFL last traded at $11.41 CAD on the TSX. See the price chart above for recent performance.

Question 3

What is the ZFL MER (management expense ratio)?

Accepted Answer

ZFL 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%, ZFL is considered a low-cost ETF.

Question 4

What are ZFL annualised returns?

Accepted Answer

ZFL historical returns: YTD: -3.96%, 1-year: -5.83%, 3-year annualised: +1.25%, 5-year annualised: -4.83%, 10-year annualised: -1.95%. Past performance is not a guarantee of future results. The 3-year Sharpe ratio is -0.16, which measures risk-adjusted return.

Question 5

Does ZFL pay dividends or distributions?

Accepted Answer

Yes, ZFL distributes income to unitholders. The current distribution yield is approximately 3.00%, 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 ZFL invest in?

Accepted Answer

ZFL's top holdings include U.S. Bancorp (USB, 11.1%), PNC Financial Services Group Inc (PNC, 10.1%), The Bank of New York Mellon Corporation (BK, 10.3%), Bank of America Corp (BAC, 10.4%), Wells Fargo & Company (WFC, 9.7%) — and 5 more positions. See the full Top 10 Holdings table above for a complete breakdown. The fund tracks the Morningstar Can 10+Y Core Bd GR CAD.

Question 7

What sectors does ZFL invest in?

Accepted Answer

ZFL'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 ZFL? (Assets under management)

Accepted Answer

ZFL has approximately $1.37B 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 ZFL launched?

Accepted Answer

ZFL was launched on May 19, 2010, giving it a 16-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 ZFL in Canada?

Accepted Answer

ZFL trades on the TSX under the ticker ZFL. 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 ZFL?

Accepted Answer

ZFL has a 1-year volatility of 9.55% and a beta of 1.15 (more volatile than the broad market). Its 3-year Sharpe ratio of -0.16 indicates below-average risk-adjusted returns. As with all market-linked investments, past volatility does not predict future risk.

Date	Open	High	Low	Close	Adj Close	Volume
2026-10-14	$11.30	$11.44	$11.30	$11.41	$11.41	36,185
2026-10-13	$11.38	$11.40	$11.36	$11.38	$11.38	55,890
2026-10-09	$11.29	$11.37	$11.29	$11.36	$11.36	72,100
2026-10-08	$11.22	$11.28	$11.19	$11.26	$11.26	69,831
2026-10-07	$11.14	$11.25	$11.14	$11.22	$11.22	49,220
2026-10-06	$11.23	$11.28	$11.22	$11.26	$11.26	23,186
2026-10-05	$11.21	$11.23	$11.16	$11.22	$11.22	47,861
2026-10-02	$11.33	$11.36	$11.21	$11.25	$11.25	29,100
2026-10-01	$11.17	$11.27	$11.10	$11.27	$11.27	102,461
2026-09-30	$11.19	$11.22	$11.19	$11.19	$11.19	44,351

#	Ticker	Name	Weight
1	USB	U.S. Bancorp	11.07%
2	PNC	PNC Financial Services Group Inc	10.12%
3	BK	The Bank of New York Mellon Corporation	10.33%
4	BAC	Bank of America Corp	10.41%
5	WFC	Wells Fargo & Company	9.72%
6	C	Citigroup Inc.	9.80%
7	JPM	JPMorgan Chase & Co	9.50%
8	GS	Goldman Sachs Group Inc	9.62%
9	SCHW	Charles Schwab Corp	9.15%
10	MS	Morgan Stanley	8.99%

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%

Ticker	Name	Price	1D
CGMD		$6.72	+16.26%
SOXD		$14.61	+13.26%
SLVD	BetaPro Silver -2x Daily Bear ETF	$40.88	+12.52%
MSTZ		$2.20	+11.11%
COID		$4.30	+9.97%
GDXD	BetaPro Canadian Gold Miners -2x Daily Bear ETF	$9.37	+9.46%
QQQD		$6.74	+6.81%
SRSL		$12.29	+6.78%

BMO Long Federal Bond Index ETF (ZFL : TSX)

Price Chart (30 Days)

Key Statistics

Recent Price History

Annualised Returns

Top 10 Holdings

Sector Weights

About BMO Long Federal Bond Index ETF

ETF Details

7 stocks to buy and hold forever

Explore More

Frequently Asked Questions — ZFL