VS
When evaluating costs, MREL features a management fee (MER) of 0.75%, compared to 0.25% for ZEB. Performance-wise, MREL has returned 12.22% year-to-date with +$8 M in net flows, whereas ZEB is at 23.88% with -$1,116 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
MREL
ZEB
| AuM | $166.39 M | $5,536.30 M |
| Management Fees | 0.75% | 0.25% |
| Exp. ratio | 1.21% | 0.28% |
| Tracking Difference | - | -0.62% |
Historical performance and flows
As of June 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | MREL | +3.09% | +8.47% | +12.22% | +18.56% | +42.77% |
ZEB | +7.80% | +20.31% | +23.88% | +66.43% | +145.04% | |
| Flows | MREL | +$2 M | +$2 M | +$8 M | +$13 M | +$46 M |
ZEB | -$85 M | -$309 M | -$1,116 M | -$946 M | -$1,896 M |
MREL vs ZEB exposure
Countries
MREL
Exposure data will be available soon
ZEB
Canada
100.00%
Sectors
MREL
Exposure data will be available soon
ZEB
Financials
100.00%
As of June 11, 2026
Top 10 Holdings
MREL
Exposure data will be available soon
ZEB
TORONTO DOMINION
17.02%
CDN IMPERIAL BK
16.89%
NATIONAL BANK OF CANADA
16.73%
ROYAL BK CANADA
16.71%
BNS
16.37%
BANK OF MONTREAL
16.28%
Diversification
MREL
Exposure data will be available soon
ZEB
Total weight of top 10 holdings out of 6 total
100.00%
Characteristics
Compare
MREL
ZEB
| Provider | Middlefield | BMO |
| Management | Actively managed | Passively managed |
| Benchmark | - | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 6.59% | 2.44% |
| Meets ESG criteria | No | No |
| Inception Date | April 19, 2011 | October 20, 2009 |
Frequently asked questions about MREL and ZEB
Which ETF has performed better year to date: MREL or ZEB?
As of June 11, 2026, MREL has returned 12.22% year to date, while ZEB has returned 23.88%. ZEB is ahead on YTD performance.
Which ETF is larger by assets under management: MREL or ZEB?
As of June 11, 2026, MREL manages $166.39 M in assets, while ZEB manages $5.54 B. ZEB is the larger fund by AUM.
How are MREL and ZEB managed?
MREL is actively managed by Middlefield. It does not track an index. ZEB is passively managed by BMO. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
Which ETF is attracting more investor flows: MREL or ZEB?
Year to date, MREL has seen +$7.51 M in net flows, compared with -$1,115.72 M for ZEB. MREL has attracted more net investor money so far.
How do the fees of MREL and ZEB compare?
MREL has an expense ratio of 1.21%, while ZEB has an expense ratio of 0.28%.
Recent articles about MREL and ZEB
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