VS
When evaluating costs, NCPB features a management fee (MER) of 0.45%, compared to 0.55% for ZUT. Performance-wise, NCPB has returned 0.65% year-to-date with +$6 M in net flows, whereas ZUT is at 22.01% with -$126 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
NCPB
ZUT
| AuM | $65.08 M | $852.91 M |
| Management Fees | 0.45% | 0.55% |
| Exp. ratio | 0.45% | 0.61% |
| Tracking Difference | - | -0.85% |
Historical performance and flows
As of July 17, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | NCPB | -1.03% | -0.72% | -0.65% | - | - |
ZUT | +1.71% | +5.71% | +22.01% | +27.22% | +54.59% | |
| Flows | NCPB | +$1 M | +$1 M | +$6 M | - | - |
ZUT | -$60 M | -$66 M | -$126 M | -$42 M | +$188 M |
NCPB vs ZUT exposure
Countries
NCPB
Exposure data will be available soon
ZUT
Canada
83.77%
Bermuda
16.23%
Sectors
NCPB
Exposure data will be available soon
ZUT
Utilities
84.34%
Energy
8.20%
Industrials
7.46%
As of July 17, 2026
Top 10 Holdings
NCPB
Exposure data will be available soon
ZUT
Boralex, Inc.
9.57%
Brookfield Renewable Partners LP
8.77%
AltaGas Ltd.
8.20%
Capital Power Corp.
8.05%
TransAlta Corp.
7.83%
Northland Power, Inc.
7.73%
Brookfield Infrastructure Partners LP
7.46%
Canadian Utilities Ltd.
7.33%
ATCO Ltd.
7.25%
Emera, Inc.
7.16%
Diversification
NCPB
Exposure data will be available soon
ZUT
Total weight of top 10 holdings out of 13 total
79.35%
Characteristics
Compare
NCPB
ZUT
| Provider | National Bank Investments | BMO |
| Management | Actively managed | Passively managed |
| Benchmark | - | Solactive Equal Weight Canada Utilities Total Return Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Fixed Income | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | - | 2.72% |
| Meets ESG criteria | No | No |
| Inception Date | September 16, 2025 | January 19, 2010 |
Frequently asked questions about NCPB and ZUT
Which ETF has performed better year to date: NCPB or ZUT?
As of July 17, 2026, NCPB has returned -0.65% year to date, while ZUT has returned 22.01%. ZUT is ahead on YTD performance.
Which ETF is larger by assets under management: NCPB or ZUT?
As of July 17, 2026, NCPB manages $65.08 M in assets, while ZUT manages $852.91 M. ZUT is the larger fund by AUM.
How are NCPB and ZUT managed?
NCPB is actively managed by National Bank Investments. 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: NCPB or ZUT?
Year to date, NCPB has seen +$5.79 M in net flows, compared with -$125.69 M for ZUT. NCPB has attracted more net investor money so far.
How do the fees of NCPB and ZUT compare?
NCPB has an expense ratio of 0.45%, while ZUT has an expense ratio of 0.61%.
Recent articles about NCPB and ZUT
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