Manulife Balanced ETF Portfolio (MBAP) and BMO Balanced ETF (ZBAL) offer distinct profiles for Canadian ETF investors. A direct comparison shows that MBAP focuses its top 3 sector exposures on Finance, Technology, and Energy, while ZBAL leans towards Finance, Technology, and Sovereign. When evaluating costs, MBAP features a management fee (MER) of 0.35%, compared to 0.18% for ZBAL. 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
MBAP
ZBAL
| AuM | $25.48 M | $670.13 M |
| Management Fees | 0.35% | 0.18% |
| Exp. ratio | 0.35% | 0.20% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 3, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | MBAP | -0.72% | +0.89% | - | - | - |
ZBAL | -0.72% | +1.07% | +9.24% | +14.84% | +49.43% | |
| Flows | MBAP | +$4 M | +$21 M | - | - | - |
ZBAL | +$18 M | +$70 M | +$185 M | +$226 M | +$404 M |
MBAP vs ZBAL exposure
Countries
MBAP
Canada
32.52%
USA
24.84%
Other
18.90%
Other
23.74%
ZBAL
Canada
42.90%
USA
37.82%
Other
19.28%
Sectors
MBAP
Finance
22.99%
Other
18.90%
Technology
12.45%
Energy
7.47%
Other
38.19%
ZBAL
Finance
19.26%
Technology
16.74%
Sovereign
14.93%
Municipal
8.83%
Industrials
7.23%
Other
33.01%
As of September 3, 2026
Top 10 Holdings
MBAP
CA56501D1078
8.35%
CA56503H1064
5.22%
CA56504C1068
3.48%
NVIDIA Corp.
1.38%
Apple, Inc.
0.97%
Microsoft Corp.
0.94%
Broadcom Inc.
0.68%
Amazon.com, Inc.
0.65%
Alphabet, Inc.
0.64%
The Toronto-Dominion Bank
0.63%
ZBAL
Canada, Bond 0.5 1oct2030 10Y
5.15%
Apple, Inc.
2.09%
NVIDIA Corp.
2.02%
CMHC, 1.9% 15mar2031, CAD (100)
1.92%
Province of Quebec, 1.5% 1sep2031, CAD (B128)
1.53%
Canada, Bonds 2.25% 1dec2029, CAD
1.45%
Microsoft Corp.
1.43%
Province of Ontario, 2.65% 2dec2050, CAD (DMTN242)
1.43%
Province of Ontario, 2.05% 2jun2030, CAD (DMTN243)
1.42%
Sun Life Financial, 2.06% 1oct2035, CAD (2020-2)
1.39%
Diversification
MBAP
Total weight of top 10 holdings out of 10,450 total
22.96%
ZBAL
Total weight of top 10 holdings out of 19,892 total
19.82%
Characteristics
Compare
MBAP
ZBAL
| Provider | Manulife Investments | 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 | - | 1.63% |
| Meets ESG criteria | No | No |
| Inception Date | April 28, 2026 | February 15, 2019 |
Frequently asked questions about MBAP and ZBAL
Which ETF is larger by assets under management: MBAP or ZBAL?
As of September 3, 2026, MBAP manages $25.48 M in assets, while ZBAL manages $670.13 M. ZBAL is the larger fund by AUM.
How are MBAP and ZBAL managed?
MBAP is actively managed by Manulife Investments. It does not track an index. ZBAL is actively managed by BMO. It does not track an index.
What sectors do MBAP and ZBAL emphasize?
MBAP is most exposed to Finance, Technology, and Energy. ZBAL is most exposed to Finance, Technology, and Sovereign.
How do the fees of MBAP and ZBAL compare?
MBAP has an expense ratio of 0.35%, while ZBAL has an expense ratio of 0.20%.
What are the top holdings of MBAP and ZBAL?
MBAP's largest holdings include NVIDIA Corp. and Apple, Inc.. ZBAL's top holdings include Canada, Bond 0.5 1oct2030 10Y and Apple, Inc..
Which ETF is more diversified: MBAP or ZBAL?
MBAP holds 10098 securities, while ZBAL holds 11634. On holdings count, ZBAL is the more diversified portfolio.
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