VS
Fidelity Long/Short Alternative Fund (FLSA) and BMO MSCI ACWI Paris Aligned Climate Equity Index ETF (ZGRN) 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 ZGRN leans towards Information Technology, Financials, and Communication Services. When evaluating costs, FLSA features a management fee (MER) of 1.15%, compared to 0.25% for ZGRN. Performance-wise, FLSA has returned 2.99% year-to-date with +$20 M in net flows, whereas ZGRN is at 8.25% with +$2 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
ZGRN
| AuM | $238.77 M | $7.30 M |
| Management Fees | 1.15% | 0.25% |
| Exp. ratio | 1.46% | 0.28% |
| Tracking Difference | - | 0.07% |
Historical performance and flows
As of June 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | FLSA | -0.39% | +3.02% | +2.99% | +10.04% | - |
ZGRN | +1.33% | +11.18% | +8.25% | +22.61% | +69.86% | |
| Flows | FLSA | +$3 M | -$4 M | +$20 M | +$6 M | - |
ZGRN | -$1 M | -$1 M | +$2 M | +$2 M | +$3 M |
FLSA vs ZGRN exposure
Countries
FLSA
USA
50.76%
Canada
28.84%
Other
14.52%
ZGRN
USA
65.48%
Other
34.52%
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%
ZGRN
Information Technology
34.83%
Financials
14.91%
Communication Services
8.96%
Consumer Discretionary
8.89%
Health Care
8.11%
Industrials
7.73%
Other
16.58%
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%
ZGRN
NVIDIA
6.33%
APPLE
4.60%
MICROSOFT-T
3.56%
AMAZON.COM INC
2.78%
ALPHABET INC-CL
2.50%
BROADCOM LIMITED
2.13%
TWN SEMICONT MAN
1.86%
ALPHABET INC-CL
1.84%
META PLATFORMS
1.70%
TESLA
1.52%
Diversification
FLSA
Total weight of top 10 holdings out of 77 total
30.50%
ZGRN
Total weight of top 10 holdings out of 578 total
28.83%
Characteristics
Compare
FLSA
ZGRN
| Provider | Fidelity | BMO |
| Management | Actively managed | Passively managed |
| Benchmark | - | MSCI ACWI Climate Paris Aligned Index NTR - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 0.00% | 0.89% |
| Meets ESG criteria | No | Yes |
| Inception Date | February 1, 2024 | January 17, 2022 |
Frequently asked questions about FLSA and ZGRN
Which ETF has performed better year to date: FLSA or ZGRN?
As of June 11, 2026, FLSA has returned 2.99% year to date, while ZGRN has returned 8.25%. ZGRN is ahead on YTD performance.
Which ETF is larger by assets under management: FLSA or ZGRN?
As of June 11, 2026, FLSA manages $238.77 M in assets, while ZGRN manages $7.30 M. FLSA is the larger fund by AUM.
How are FLSA and ZGRN managed?
FLSA is actively managed by Fidelity. It does not track an index. ZGRN is passively managed by BMO. It tracks the MSCI ACWI Climate Paris Aligned Index NTR - CAD benchmark.
What sectors do FLSA and ZGRN emphasize?
FLSA is most exposed to Industrials, Financials, and Information Technology. ZGRN is most exposed to Information Technology, Financials, and Communication Services.
Which ETF is attracting more investor flows: FLSA or ZGRN?
Year to date, FLSA has seen +$20.04 M in net flows, compared with +$1.53 M for ZGRN. FLSA has attracted more net investor money so far.
How do the fees of FLSA and ZGRN compare?
FLSA has an expense ratio of 1.46%, while ZGRN has an expense ratio of 0.28%.
What are the top holdings of FLSA and ZGRN?
FLSA's largest holdings include ALPHABET INC-CL, ROYAL BK CANADA, and MICROSOFT-T. ZGRN's top holdings include NVIDIA, APPLE, and ALPHABET INC-CL.
Which ETF is more diversified: FLSA or ZGRN?
FLSA holds 77 securities, while ZGRN holds 539. On holdings count, ZGRN is the more diversified portfolio.
Recent articles about FLSA and ZGRN
The ETF Market Canada is brought to you by Cboe in partnership with Trackinsight SA who is providing all the data, analysis and editorial content on this site. Unless explicitly stated as such, any information that you receive is not real-time.
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.
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.