VS
When evaluating costs, MREL features a management fee (MER) of 0.75%, compared to 0.55% for ZUT. Performance-wise, MREL has returned 12.22% year-to-date with +$8 M in net flows, whereas ZUT is at 20.43% with -$76 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
ZUT
| AuM | $166.39 M | $893.16 M |
| Management Fees | 0.75% | 0.55% |
| Exp. ratio | 1.21% | 0.61% |
| Tracking Difference | - | -0.90% |
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% |
ZUT | +3.72% | +9.48% | +20.43% | +29.41% | +47.71% | |
| Flows | MREL | +$2 M | +$2 M | +$8 M | +$13 M | +$46 M |
ZUT | -$15 M | +$4 M | -$76 M | +$122 M | +$233 M |
MREL vs ZUT exposure
Countries
MREL
Exposure data will be available soon
ZUT
Canada
85.23%
Bermuda
14.77%
Sectors
MREL
Exposure data will be available soon
ZUT
Utilities
100.00%
As of June 11, 2026
Top 10 Holdings
MREL
Exposure data will be available soon
ZUT
BORALEX
10.04%
NORTHLAND POWER
8.09%
ALTAGAS
8.08%
BROOKFIELD RENEWABLE PARTNERS
7.87%
ATCO
7.62%
CAPITAL POWER
7.57%
EMERA
7.48%
ALGONQUIN POWER
7.47%
CANADIAN UTILITIES
7.43%
FORTIS
7.23%
Diversification
MREL
Exposure data will be available soon
ZUT
Total weight of top 10 holdings out of 13 total
78.87%
Characteristics
Compare
MREL
ZUT
| Provider | Middlefield | BMO |
| Management | Actively managed | Passively managed |
| Benchmark | - | Solactive Equal Weight Canada Utilities Total Return Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 6.59% | 2.77% |
| Meets ESG criteria | No | No |
| Inception Date | April 19, 2011 | January 19, 2010 |
Frequently asked questions about MREL and ZUT
Which ETF has performed better year to date: MREL or ZUT?
As of June 11, 2026, MREL has returned 12.22% year to date, while ZUT has returned 20.43%. ZUT is ahead on YTD performance.
Which ETF is larger by assets under management: MREL or ZUT?
As of June 11, 2026, MREL manages $166.39 M in assets, while ZUT manages $893.16 M. ZUT is the larger fund by AUM.
How are MREL and ZUT managed?
MREL is actively managed by Middlefield. It does not track an index. ZUT is passively managed by BMO. It tracks the Solactive Equal Weight Canada Utilities Total Return Index - CAD benchmark.
Which ETF is attracting more investor flows: MREL or ZUT?
Year to date, MREL has seen +$7.51 M in net flows, compared with -$76.24 M for ZUT. MREL has attracted more net investor money so far.
How do the fees of MREL and ZUT compare?
MREL has an expense ratio of 1.21%, while ZUT has an expense ratio of 0.61%.
Recent articles about MREL and ZUT
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