VS
Compare NBI Active U.S. Equity ETF (NUSA) vs BMO MSCI USA High Quality Index ETF (ZUQ.U) to find the best fit for your portfolio. NUSA provides Technology, Finance, and Consumer Non-Cyclicals exposures, while ZUQ.U is primarily weighted in Technology, Healthcare, and Finance. When evaluating costs, NUSA features a management fee (MER) of 0.55%, compared to 0.3% for ZUQ.U. Performance-wise, NUSA has returned 10.05% year-to-date with -$1 M in net flows, whereas ZUQ.U is at 14.2% with +$5 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
NUSA
ZUQ.U
| AuM | $92.46 M | $35.35 M |
| Management Fees | 0.55% | 0.30% |
| Exp. ratio | 0.63% | 0.33% |
| Tracking Difference | - | -0.18% |
Historical performance and flows
As of October 16, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | NUSA | +3.78% | +3.52% | +10.05% | +9.56% | +56.10% |
ZUQ.U | +3.58% | +2.98% | +14.20% | +19.51% | +75.91% | |
| Flows | NUSA | +$0 M | -$4 M | -$1 M | -$3 M | +$45 M |
ZUQ.U | -$5 M | -$0 M | +$5 M | +$9 M | +$12 M |
NUSA vs ZUQ.U exposure
Countries
NUSA
USA
95.59%
ZUQ.U
USA
96.41%
Sectors
NUSA
Technology
47.66%
Finance
13.04%
Consumer Non-Cyclicals
10.91%
Healthcare
9.10%
Other
19.29%
ZUQ.U
Technology
44.98%
Healthcare
16.59%
Finance
11.62%
Consumer Non-Cyclicals
11.21%
Industrials
8.27%
Other
7.33%
As of October 16, 2026
Top 10 Holdings
NUSA
NVIDIA Corp.
9.37%
Microsoft Corp.
8.51%
Amazon.com, Inc.
6.37%
Alphabet, Inc.
6.22%
Broadcom Inc.
4.75%
Apple, Inc.
4.03%
Lam Research Corp.
3.83%
Valero Energy Corp.
3.71%
Danaher Corp.
3.63%
JPMorgan Chase & Co.
3.61%
ZUQ.U
Microsoft Corp.
5.79%
Eli Lilly & Co.
5.40%
Apple, Inc.
5.04%
NVIDIA Corp.
4.64%
Meta Platforms, Inc.
4.52%
Visa, Inc.
4.46%
Johnson & Johnson
3.44%
Mastercard, Inc.
3.24%
Lam Research Corp.
2.75%
Alphabet, Inc.
2.36%
Diversification
NUSA
Total weight of top 10 holdings out of 32 total
54.03%
ZUQ.U
Total weight of top 10 holdings out of 125 total
41.66%
Characteristics
Compare
NUSA
ZUQ.U
| Provider | National Bank Investments | BMO |
| Management | Actively managed | Passively managed |
| Benchmark | - | MSCI USA Quality Net Total Return USD Index - USD |
| Replication Method | - | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 0.00% | 0.46% |
| Meets ESG criteria | No | No |
| Inception Date | February 13, 2021 | July 16, 2020 |
Frequently asked questions about NUSA and ZUQ.U
Which ETF has performed better year to date: NUSA or ZUQ.U?
As of October 16, 2026, NUSA has returned 10.05% year to date, while ZUQ.U has returned 14.20%. ZUQ.U is ahead on YTD performance.
Which ETF is larger by assets under management: NUSA or ZUQ.U?
As of October 16, 2026, NUSA manages $92.46 M in assets, while ZUQ.U manages $35.35 M. NUSA is the larger fund by AUM.
How are NUSA and ZUQ.U managed?
NUSA is actively managed by National Bank Investments. It does not track an index. ZUQ.U is passively managed by BMO. It tracks the MSCI USA Quality Net Total Return USD Index - USD benchmark.
What sectors do NUSA and ZUQ.U emphasize?
NUSA is most exposed to Technology, Finance, and Consumer Non-Cyclicals. ZUQ.U is most exposed to Technology, Healthcare, and Finance.
Which ETF is attracting more investor flows: NUSA or ZUQ.U?
Year to date, NUSA has seen -$0.70 M in net flows, compared with +$4.70 M for ZUQ.U. ZUQ.U has attracted more net investor money so far.
How do the fees of NUSA and ZUQ.U compare?
NUSA has an expense ratio of 0.63%, while ZUQ.U has an expense ratio of 0.33%.
What are the top holdings of NUSA and ZUQ.U?
NUSA's largest holdings include NVIDIA Corp., Microsoft Corp., and Amazon.com, Inc.. ZUQ.U's top holdings include Microsoft Corp., Eli Lilly & Co., and Apple, Inc..
Which ETF is more diversified: NUSA or ZUQ.U?
NUSA holds 32 securities, while ZUQ.U holds 124. On holdings count, ZUQ.U is the more diversified portfolio.
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