VS
Fidelity Long/Short Alternative Fund (FLSA) and BMO U.S. All Cap Equity Fund ETF (ZACE) offer distinct profiles for Canadian ETF investors. A direct comparison shows that FLSA focuses its top 3 sector exposures on Industrials, Financials, and Information Technology, while ZACE leans towards Information Technology, Industrials, and Consumer Discretionary. When evaluating costs, FLSA features a management fee (MER) of 1.15%, compared to 0.75% for ZACE. Performance-wise, FLSA has returned 2.99% year-to-date with +$20 M in net flows, whereas ZACE is at 9.16% with -$7 M. 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
FLSA
ZACE
| AuM | $238.77 M | $57.41 M |
| Management Fees | 1.15% | 0.75% |
| Exp. ratio | 1.46% | 0.81% |
| Tracking Difference | - | - |
Historical performance and flows
As of June 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | FLSA | -0.39% | +3.02% | +2.99% | +10.04% | - |
ZACE | +3.36% | +12.69% | +9.16% | +25.61% | +88.29% | |
| Flows | FLSA | +$3 M | -$4 M | +$20 M | +$6 M | - |
ZACE | +$0 M | -$5 M | -$7 M | -$5 M | +$26 M |
FLSA vs ZACE exposure
Countries
FLSA
USA
50.76%
Canada
28.84%
Other
14.52%
ZACE
USA
92.05%
Other
7.95%
Sectors
FLSA
Industrials
15.81%
Other
14.52%
Financials
14.20%
Information Technology
12.29%
Communication Services
9.09%
Consumer Discretionary
7.79%
Other
26.30%
ZACE
Information Technology
33.83%
Industrials
10.59%
Consumer Discretionary
10.32%
Communication Services
10.26%
Financials
9.24%
Health Care
7.62%
Other
18.14%
As of June 11, 2026
Top 10 Holdings
FLSA
ALPHABET INC-CL
4.09%
ROYAL BK CANADA
3.35%
MICROSOFT-T
3.21%
TORONTO DOMINION
3.16%
FRANCO NEVADA
3.03%
RESTAURANT BRANDS INTL
2.93%
AGNICO EAGLE MINES LTD
2.91%
DOLLAR TREE
2.80%
AMAZON.COM INC
2.52%
CATERPILLAR
2.51%
ZACE
APPLE
8.16%
MICROSOFT-T
5.29%
ALPHABET INC-CL
4.98%
NVIDIA
4.61%
AMAZON.COM INC
3.47%
VISA INCORPORATION
3.12%
BROADCOM LIMITED
2.77%
BK OF AMERICA CO
2.41%
ORACLE SYS
2.22%
SHOPIFY SUBORDINATE VOTING
2.08%
Diversification
FLSA
Total weight of top 10 holdings out of 77 total
30.50%
ZACE
Total weight of top 10 holdings out of 56 total
39.10%
Characteristics
Frequently asked questions about FLSA and ZACE
Which ETF has performed better year to date: FLSA or ZACE?
As of June 11, 2026, FLSA has returned 2.99% year to date, while ZACE has returned 9.16%. ZACE is ahead on YTD performance.
Which ETF is larger by assets under management: FLSA or ZACE?
As of June 11, 2026, FLSA manages $238.77 M in assets, while ZACE manages $57.41 M. FLSA is the larger fund by AUM.
How are FLSA and ZACE managed?
FLSA is actively managed by Fidelity. It does not track an index. ZACE is actively managed by BMO. It does not track an index.
What sectors do FLSA and ZACE emphasize?
FLSA is most exposed to Industrials, Financials, and Information Technology. ZACE is most exposed to Information Technology, Industrials, and Consumer Discretionary.
Which ETF is attracting more investor flows: FLSA or ZACE?
Year to date, FLSA has seen +$20.04 M in net flows, compared with -$6.76 M for ZACE. FLSA has attracted more net investor money so far.
How do the fees of FLSA and ZACE compare?
FLSA has an expense ratio of 1.46%, while ZACE has an expense ratio of 0.81%.
What are the top holdings of FLSA and ZACE?
FLSA's largest holdings include ALPHABET INC-CL, ROYAL BK CANADA, and MICROSOFT-T. ZACE's top holdings include APPLE and MICROSOFT-T.
Which ETF is more diversified: FLSA or ZACE?
FLSA holds 77 securities, while ZACE holds 53. On holdings count, FLSA is the more diversified portfolio.
Recent articles about FLSA and ZACE
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All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.