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Compare iShares ESG Balanced ETF Portfolio (GBAL) vs BMO Balanced ESG ETF (ZESG) to find the best fit for your portfolio. GBAL and ZESG provide the same top sector exposures: Finance, Technology, and Sovereign. When evaluating costs, GBAL features a management fee (MER) of 0.22%, compared to 0.18% for ZESG. Performance-wise, GBAL has returned 10.53% year-to-date with +$74 M in net flows, whereas ZESG is at 8.48% with +$4 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
GBAL
ZESG
| AuM | $287.72 M | $105.69 M |
| Management Fees | 0.22% | 0.18% |
| Exp. ratio | 0.24% | 0.20% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 3, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | GBAL | -0.83% | +1.38% | +10.53% | +15.91% | +57.25% |
ZESG | -0.56% | +2.25% | +8.48% | +14.19% | +49.82% | |
| Flows | GBAL | +$12 M | +$29 M | +$74 M | +$101 M | +$189 M |
ZESG | +$0 M | +$0 M | +$4 M | +$11 M | +$25 M |
GBAL vs ZESG exposure
Countries
GBAL
Canada
52.79%
USA
29.61%
Other
17.60%
ZESG
Canada
49.96%
USA
36.65%
Other
13.39%
Sectors
GBAL
Finance
33.62%
Technology
18.27%
Sovereign
11.85%
Municipal
9.18%
Other
27.09%
ZESG
Finance
22.36%
Technology
18.41%
Sovereign
11.12%
Municipal
10.31%
Other
37.79%
As of September 3, 2026
Top 10 Holdings
GBAL
NVIDIA Corp.
2.92%
Royal Bank of Canada
2.01%
The Toronto-Dominion Bank
1.95%
Broadcom Inc.
1.85%
Shopify, Inc.
1.50%
Bank of Montreal
1.23%
Canadian Imperial Bank of Commerce
1.08%
The Bank of Nova Scotia
1.08%
Micron Technology, Inc.
1.04%
Canada, Bond 2 1jun2028 10Y
0.95%
ZESG
NVIDIA Corp.
4.48%
Microsoft Corp.
3.17%
Canada, Bond 1.25 1jun2030 10Y
3.08%
Alphabet, Inc.
1.93%
The Toronto-Dominion Bank
1.86%
Canada, Bonds 2% 1jun2032, CAD
1.54%
Alphabet, Inc.
1.54%
Canada, Bonds 1.5% 1dec2031 10Y
1.51%
Shopify, Inc.
1.41%
Bank of Montreal
1.15%
Diversification
GBAL
Total weight of top 10 holdings out of 1,382 total
15.60%
ZESG
Total weight of top 10 holdings out of 1,504 total
21.66%
Characteristics
Compare
GBAL
ZESG
| Provider | iShares | BMO |
| Management | Actively managed | Actively managed |
| Benchmark | - | - |
| Replication Method | ||
| Asset Class | Equity, Fixed Income | Equity, Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.68% | 1.72% |
| Meets ESG criteria | Yes | Yes |
| Inception Date | September 10, 2020 | January 16, 2020 |
Frequently asked questions about GBAL and ZESG
Which ETF has performed better year to date: GBAL or ZESG?
As of September 3, 2026, GBAL has returned 10.53% year to date, while ZESG has returned 8.48%. GBAL is ahead on YTD performance.
Which ETF is larger by assets under management: GBAL or ZESG?
As of September 3, 2026, GBAL manages $287.72 M in assets, while ZESG manages $105.69 M. GBAL is the larger fund by AUM.
How are GBAL and ZESG managed?
GBAL is actively managed by iShares. It does not track an index. ZESG is actively managed by BMO. It does not track an index.
What sectors do GBAL and ZESG emphasize?
GBAL is most exposed to Finance, Technology, and Sovereign. ZESG is most exposed to Finance, Technology, and Sovereign.
Which ETF is attracting more investor flows: GBAL or ZESG?
Year to date, GBAL has seen +$74.34 M in net flows, compared with +$4.31 M for ZESG. GBAL has attracted more net investor money so far.
How do the fees of GBAL and ZESG compare?
GBAL has an expense ratio of 0.24%, while ZESG has an expense ratio of 0.20%.
What are the top holdings of GBAL and ZESG?
GBAL's largest holdings include NVIDIA Corp., Royal Bank of Canada, and The Toronto-Dominion Bank. ZESG's top holdings include NVIDIA Corp., Alphabet, Inc., and Microsoft Corp..
Which ETF is more diversified: GBAL or ZESG?
GBAL holds 1375 securities, while ZESG holds 1499. On holdings count, ZESG is the more diversified portfolio.
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