ZUAG
BMO US AGGREGATE BOND INDEX ETF
stock TSE

Just want to add on to the existing comments.
The Fixed Income components of ZGRO is ZAG and ZUAG.F, which has a duration of around 7 years and 6 years respectively. The TLDR is that the price of these go down 7% and 6% for every 1% the banks increase interest rate. That would have affected the overall price of the ETF, along with the impact that rate increases affect equities as well.
IF you want to keep your fixed income liquid, and are ok with manually balancing yourself, you could create your own ZGRO by owning 80% ZEQT and 20% ZST, the latter which is a bond fund that has a duration of around 0.3 years. Still provides income for you, but of course yield will be a little less than what you'd get for a longer duration bond fund.
Common mistake when people buy fixed income ETFs is assuming bonds = safe. The answer is yes but no, since duration management plays a huge part in managing risk.
Hope this helps!

Just want to add on to the existing comments.
The Fixed Income components of ZGRO is ZAG and ZUAG.F, which has a duration of around 7 years and 6 years respectively. The TLDR is that the price of these go down 7% and 6% for every 1% the banks increase interest rate. That would have affected the overall price of the ETF, along with the impact that rate increases affect equities as well.
IF you want to keep your fixed income liquid, and are ok with manually balancing yourself, you could create your own ZGRO by owning 80% ZEQT and 20% ZST, the latter which is a bond fund that has a duration of around 0.3 years. Still provides income for you, but of course yield will be a little less than what you'd get for a longer duration bond fund.
Common mistake when people buy fixed income ETFs is assuming bonds = safe. The answer is yes but no, since duration management plays a huge part in managing risk.
Hope this helps!