VS
Fidelity Long/Short Alternative Fund (FLSA) and BMO All-Equity ETF (ZEQT) 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 ZEQT leans towards Information Technology, Financials, and Industrials. When evaluating costs, FLSA features a management fee (MER) of 1.15%, compared to 0.18% for ZEQT. Performance-wise, FLSA has returned 2.99% year-to-date with +$20 M in net flows, whereas ZEQT is at 11.84% with +$270 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
ZEQT
| AuM | $238.77 M | $816.95 M |
| Management Fees | 1.15% | 0.18% |
| Exp. ratio | 1.46% | 0.20% |
| 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% | - |
ZEQT | +2.03% | +10.32% | +11.84% | +29.47% | +80.25% | |
| Flows | FLSA | +$3 M | -$4 M | +$20 M | +$6 M | - |
ZEQT | +$79 M | +$156 M | +$270 M | +$471 M | +$645 M |
FLSA vs ZEQT exposure
Countries
FLSA
USA
50.76%
Canada
28.84%
Other
14.52%
ZEQT
USA
48.05%
Canada
24.09%
Other
27.86%
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%
ZEQT
Information Technology
23.71%
Financials
17.82%
Industrials
9.84%
Consumer Discretionary
8.04%
Energy
7.10%
Other
33.49%
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%
ZEQT
NVIDIA
3.79%
APPLE
2.96%
MICROSOFT-T
2.35%
AMAZON.COM INC
1.92%
ROYAL BK CANADA
1.71%
ALPHABET INC-CL
1.52%
BROADCOM LIMITED
1.44%
TWN SEMICONT MAN
1.33%
TORONTO DOMINION
1.22%
ALPHABET INC-CL
1.22%
Diversification
FLSA
Total weight of top 10 holdings out of 77 total
30.50%
ZEQT
Total weight of top 10 holdings out of 5,547 total
19.46%
Characteristics
Frequently asked questions about FLSA and ZEQT
Which ETF has performed better year to date: FLSA or ZEQT?
As of June 11, 2026, FLSA has returned 2.99% year to date, while ZEQT has returned 11.84%. ZEQT is ahead on YTD performance.
Which ETF is larger by assets under management: FLSA or ZEQT?
As of June 11, 2026, FLSA manages $238.77 M in assets, while ZEQT manages $816.95 M. ZEQT is the larger fund by AUM.
How are FLSA and ZEQT managed?
FLSA is actively managed by Fidelity. It does not track an index. ZEQT is actively managed by BMO. It does not track an index.
What sectors do FLSA and ZEQT emphasize?
FLSA is most exposed to Industrials, Financials, and Information Technology. ZEQT is most exposed to Information Technology, Financials, and Industrials.
Which ETF is attracting more investor flows: FLSA or ZEQT?
Year to date, FLSA has seen +$20.04 M in net flows, compared with +$269.57 M for ZEQT. ZEQT has attracted more net investor money so far.
How do the fees of FLSA and ZEQT compare?
FLSA has an expense ratio of 1.46%, while ZEQT has an expense ratio of 0.20%.
What are the top holdings of FLSA and ZEQT?
FLSA's largest holdings include ALPHABET INC-CL, ROYAL BK CANADA, and MICROSOFT-T. ZEQT's top holdings include NVIDIA and APPLE.
Which ETF is more diversified: FLSA or ZEQT?
FLSA holds 77 securities, while ZEQT holds 5130. On holdings count, ZEQT is the more diversified portfolio.
Recent articles about FLSA and ZEQT
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