VS
When evaluating costs, MREL features a management fee (MER) of 0.75%, compared to 0.08% for ZSP. Performance-wise, MREL has returned 12.22% year-to-date with +$8 M in net flows, whereas ZSP is at 10.3% with +$566 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
ZSP
| AuM | $166.39 M | $23,784.53 M |
| Management Fees | 0.75% | 0.08% |
| Exp. ratio | 1.21% | 0.09% |
| Tracking Difference | - | -0.22% |
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% |
ZSP | +1.90% | +12.40% | +10.30% | +26.61% | +83.75% | |
| Flows | MREL | +$2 M | +$2 M | +$8 M | +$13 M | +$46 M |
ZSP | +$89 M | +$283 M | +$566 M | +$1,532 M | +$5,079 M |
MREL vs ZSP exposure
Countries
MREL
Exposure data will be available soon
ZSP
USA
97.06%
Sectors
MREL
Exposure data will be available soon
ZSP
Information Technology
36.41%
Communication Services
10.68%
Consumer Discretionary
10.06%
Financials
9.94%
Health Care
8.26%
Industrials
8.01%
Other
16.63%
As of June 11, 2026
Top 10 Holdings
MREL
Exposure data will be available soon
ZSP
NVIDIA
8.33%
APPLE
6.50%
MICROSOFT-T
5.16%
AMAZON.COM INC
4.21%
ALPHABET INC-CL
3.33%
BROADCOM LIMITED
3.16%
ALPHABET INC-CL
2.67%
META PLATFORMS
2.40%
TESLA
1.72%
BERKSHIRE HATHWAY
1.44%
Diversification
MREL
Exposure data will be available soon
ZSP
Total weight of top 10 holdings out of 502 total
38.91%
Characteristics
Compare
MREL
ZSP
| Provider | Middlefield | BMO |
| Management | Actively managed | Passively managed |
| Benchmark | - | S&P 500 CAD Total Return Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 6.59% | 0.76% |
| Meets ESG criteria | No | No |
| Inception Date | April 19, 2011 | November 14, 2012 |
Frequently asked questions about MREL and ZSP
Which ETF has performed better year to date: MREL or ZSP?
As of June 11, 2026, MREL has returned 12.22% year to date, while ZSP has returned 10.30%. MREL is ahead on YTD performance.
Which ETF is larger by assets under management: MREL or ZSP?
As of June 11, 2026, MREL manages $166.39 M in assets, while ZSP manages $23.78 B. ZSP is the larger fund by AUM.
How are MREL and ZSP managed?
MREL is actively managed by Middlefield. It does not track an index. ZSP is passively managed by BMO. It tracks the S&P 500 CAD Total Return Index - CAD benchmark.
Which ETF is attracting more investor flows: MREL or ZSP?
Year to date, MREL has seen +$7.51 M in net flows, compared with +$565.61 M for ZSP. ZSP has attracted more net investor money so far.
How do the fees of MREL and ZSP compare?
MREL has an expense ratio of 1.21%, while ZSP has an expense ratio of 0.09%.
Recent articles about MREL and ZSP
Build Canada Homes: A Boost for Real Estate ETFs?
The Canadian government's $26B prefab housing plan and a U.S. tariff ruling have injected optimism into real estate markets, with analysts anticipating gains for REITs and construction-focused funds.
Posted on 6/2/2025 by ETF Market Canada inReal Estate
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.