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Compare Franklin Emerging Markets Equity Index ETF (FLEM) vs BMO MSCI Emerging Markets Index ETF (ZEM) to find the best fit for your portfolio. FLEM provides Technology, Finance, and Industrials exposures, while ZEM is primarily weighted in Technology, Finance, and Non-Energy Materials. When evaluating costs, FLEM features a management fee (MER) of 0.15%, compared to 0.25% for ZEM. Performance-wise, FLEM has returned 23.83% year-to-date with +$18 M in net flows, whereas ZEM is at 22.81% with +$1 B. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.
NAV Performance and Flows
Key Data
Compare
FLEM
ZEM
| AuM | $66.04 M | $3,657.97 M |
| Management Fees | 0.15% | 0.25% |
| Exp. ratio | 0.17% | 0.27% |
| Tracking Difference | -0.11% | -0.97% |
Historical performance and flows
As of October 14, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | FLEM | +0.46% | +2.25% | +23.83% | +26.97% | +91.21% |
ZEM | -0.69% | +0.38% | +22.81% | +25.52% | +89.08% | |
| Flows | FLEM | +$0 M | +$9 M | +$18 M | +$25 M | +$47 M |
ZEM | +$145 M | +$296 M | +$1,043 M | +$1,264 M | +$1,365 M |
FLEM vs ZEM exposure
Countries
FLEM
Taiwan
25.97%
Republic of Korea
20.91%
China
17.35%
India
12.81%
Other
22.96%
ZEM
Taiwan
27.53%
Republic of Korea
20.69%
China
18.51%
India
11.36%
Other
21.91%
Sectors
FLEM
Technology
43.00%
Finance
21.81%
Industrials
7.05%
Other
28.14%
ZEM
Technology
44.93%
Finance
21.13%
Non-Energy Materials
7.17%
Other
26.77%
As of October 14, 2026
Top 10 Holdings
FLEM
Taiwan Semiconductor Manufacturing Co., Ltd.
14.73%
Samsung Electronics Co., Ltd.
7.13%
SK hynix, Inc.
5.57%
Tencent Holdings Ltd.
2.85%
Alibaba Group Holding Ltd.
2.20%
MediaTek, Inc.
1.44%
Samsung Electronics Co., Ltd.
0.92%
China Construction Bank Corp.
0.88%
Delta Electronics, Inc.
0.76%
Hon Hai Precision Industry Co., Ltd.
0.75%
ZEM
Taiwan Semiconductor Manufacturing Co., Ltd.
15.07%
Samsung Electronics Co., Ltd.
7.16%
SK hynix, Inc.
5.45%
Tencent Holdings Ltd.
2.86%
Alibaba Group Holding Ltd.
1.97%
MediaTek, Inc.
1.44%
Delta Electronics, Inc.
0.91%
Samsung Electronics Co., Ltd.
0.88%
China Construction Bank Corp.
0.82%
Hon Hai Precision Industry Co., Ltd.
0.78%
Diversification
FLEM
Total weight of top 10 holdings out of 1,146 total
37.22%
ZEM
Total weight of top 10 holdings out of 1,173 total
37.35%
Characteristics
Compare
FLEM
ZEM
| Provider | Franklin Templeton | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | Solactive GBS Emerging Markets Large & Mid Cap CAD Index NTR - CAD | MSCI Emerging Markets Net Total Return Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.34% | 1.82% |
| Meets ESG criteria | No | No |
| Inception Date | January 29, 2018 | October 20, 2009 |
Frequently asked questions about FLEM and ZEM
Which ETF has performed better year to date: FLEM or ZEM?
As of October 14, 2026, FLEM has returned 23.83% year to date, while ZEM has returned 22.81%. FLEM is ahead on YTD performance.
Which ETF is larger by assets under management: FLEM or ZEM?
As of October 14, 2026, FLEM manages $66.04 M in assets, while ZEM manages $3.66 B. ZEM is the larger fund by AUM.
How are FLEM and ZEM managed?
FLEM is passively managed by Franklin Templeton. It tracks the Solactive GBS Emerging Markets Large & Mid Cap CAD Index NTR - CAD benchmark. ZEM is passively managed by BMO. It tracks the MSCI Emerging Markets Net Total Return Index - CAD benchmark.
What sectors do FLEM and ZEM emphasize?
FLEM is most exposed to Technology, Finance, and Industrials. ZEM is most exposed to Technology, Finance, and Non-Energy Materials.
Which ETF is attracting more investor flows: FLEM or ZEM?
Year to date, FLEM has seen +$17.76 M in net flows, compared with +$1,042.53 M for ZEM. ZEM has attracted more net investor money so far.
How do the fees of FLEM and ZEM compare?
FLEM has an expense ratio of 0.17%, while ZEM has an expense ratio of 0.27%.
What are the top holdings of FLEM and ZEM?
FLEM's largest holdings include Taiwan Semiconductor Manufacturing Co., Ltd., Samsung Electronics Co., Ltd., and SK hynix, Inc.. ZEM's top holdings include Taiwan Semiconductor Manufacturing Co., Ltd., Samsung Electronics Co., Ltd., and SK hynix, Inc..
Which ETF is more diversified: FLEM or ZEM?
FLEM holds 1085 securities, while ZEM holds 1116. On holdings count, ZEM is the more diversified portfolio.
Recent articles about FLEM and ZEM
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