The fund provides exposure to midterm bonds in the Canadian provincial sector, which includes Canadian provinces and provincial or territorial corporations, incorporated under their respective jurisdiction. The index holds CAD-denominated bonds with 5-10 years until maturity. These securities are generally guaranteed by the Canadian Provincial Governments and its agencies and have a credit rating of BBB or higher. The index is rebalanced daily. The fund aims to hold fixed income securities in the same proportions as they are reflected in the index. The Manager may also opt to use a sampling strategy, which uses quant analysis to select bonds. Sibling funds ZPL and ZPS provides the same exposure but with maturities of 10+ years and 5 years or less, respectively.