Manulife Growth ETF Portfolio (MGAP) and BMO Balanced ETF (ZBAL) offer distinct profiles for Canadian ETF investors. A direct comparison shows that MGAP focuses its top 3 sector exposures on Finance, Technology, and Industrials, while ZBAL leans towards Finance, Technology, and Sovereign. When evaluating costs, MGAP 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
MGAP
ZBAL
| AuM | $22.11 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. | MGAP | +1.26% | +0.95% | - | - | - |
ZBAL | -0.72% | +1.07% | +9.24% | +14.84% | +49.43% | |
| Flows | MGAP | +$3 M | +$18 M | - | - | - |
ZBAL | +$18 M | +$70 M | +$185 M | +$226 M | +$404 M |
MGAP vs ZBAL exposure
Countries
MGAP
USA
29.35%
Canada
26.95%
Other
12.32%
Other
31.39%
ZBAL
Canada
42.90%
USA
37.82%
Other
19.28%
Sectors
MGAP
Finance
22.87%
Technology
15.98%
Other
12.31%
Industrials
7.98%
Energy
7.22%
Other
33.65%
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
MGAP
CA56503H1064
5.21%
CA56501D1078
2.94%
CA56504C1068
1.98%
NVIDIA Corp.
1.62%
Microsoft Corp.
1.12%
Apple, Inc.
1.11%
Alphabet, Inc.
0.81%
Broadcom Inc.
0.80%
Amazon.com, Inc.
0.80%
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
MGAP
Total weight of top 10 holdings out of 12,606 total
17.04%
ZBAL
Total weight of top 10 holdings out of 19,892 total
19.82%
Characteristics
Compare
MGAP
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 MGAP and ZBAL
Which ETF is larger by assets under management: MGAP or ZBAL?
As of September 3, 2026, MGAP manages $22.11 M in assets, while ZBAL manages $670.13 M. ZBAL is the larger fund by AUM.
How are MGAP and ZBAL managed?
MGAP 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 MGAP and ZBAL emphasize?
MGAP is most exposed to Finance, Technology, and Industrials. ZBAL is most exposed to Finance, Technology, and Sovereign.
How do the fees of MGAP and ZBAL compare?
MGAP has an expense ratio of 0.35%, while ZBAL has an expense ratio of 0.20%.
What are the top holdings of MGAP and ZBAL?
MGAP's largest holdings include NVIDIA Corp. and Microsoft Corp.. ZBAL's top holdings include Canada, Bond 0.5 1oct2030 10Y and Apple, Inc..
Which ETF is more diversified: MGAP or ZBAL?
MGAP holds 12112 securities, while ZBAL holds 11634. On holdings count, MGAP is the more diversified portfolio.
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