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Compare CI Morningstar National Bank Québec Index ETF (QXM) vs Global X Inovestor Canadian Equity Index ETF (INOC) to find the best fit for your portfolio. QXM provides Industrials, Finance, and Consumer Non-Cyclicals exposures, while INOC is primarily weighted in Non-Energy Materials, Finance, and Industrials. When evaluating costs, QXM features a management fee (MER) of 0.5%, compared to 0.75% for INOC. Performance-wise, QXM has returned 4.96% year-to-date with +$2 M in net flows, whereas INOC is at 18.7% with -$7 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
QXM
INOC
| AuM | $90.77 M | $31.01 M |
| Management Fees | 0.50% | 0.75% |
| Exp. ratio | 0.55% | 0.74% |
| Tracking Difference | -0.22% | -1.07% |
Historical performance and flows
As of October 16, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | QXM | -0.25% | -2.41% | +4.96% | +12.05% | +64.11% |
INOC | +2.31% | +4.67% | +18.70% | +25.81% | +63.31% | |
| Flows | QXM | +$0 M | +$0 M | +$2 M | +$2 M | -$8 M |
INOC | -$1 M | -$4 M | -$7 M | -$7 M | -$10 M |
QXM vs INOC exposure
Countries
QXM
Canada
99.98%
INOC
Canada
90.88%
Other
9.12%
Sectors
QXM
Industrials
30.57%
Finance
16.97%
Consumer Non-Cyclicals
12.85%
Non-Energy Materials
12.73%
Consumer Cyclicals
11.29%
Telecommunications
8.40%
Other
7.19%
INOC
Non-Energy Materials
23.73%
Finance
18.17%
Industrials
10.79%
Technology
8.59%
Energy
8.38%
Consumer Non-Cyclicals
7.18%
Other
23.16%
As of October 16, 2026
Top 10 Holdings
QXM
iA Financial Corp., Inc.
5.54%
CGI, Inc.
5.52%
Power Corp of Canada
5.42%
National Bank of Canada
5.10%
WSP Global, Inc.
5.05%
Canadian National Railway Co.
5.03%
Alimentation Couche-Tard, Inc.
5.01%
Bombardier, Inc.
4.86%
Dollarama, Inc.
4.81%
BCE, Inc.
4.74%
INOC
K92 Mining, Inc.
5.51%
DPM Metals, Inc.
5.17%
Wesdome Gold Mines Ltd.
5.08%
Altius Minerals Corp.
4.48%
Canadian Natural Resources Ltd.
4.38%
Constellation Software, Inc.
4.35%
CGI, Inc.
4.24%
ARC Resources Ltd.
4.00%
Restaurant Brands International, Inc.
3.98%
CCL Industries, Inc.
3.95%
Diversification
QXM
Total weight of top 10 holdings out of 49 total
51.07%
INOC
Total weight of top 10 holdings out of 24 total
45.14%
Characteristics
Compare
QXM
INOC
| Provider | CI | Global X |
| Management | Passively managed | Passively managed |
| Benchmark | Morningstar National Bank Quebec Total Return Index - CAD | Nasdaq Inovestor Canada Net Total Return Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 0.99% | 0.86% |
| Meets ESG criteria | No | No |
| Inception Date | February 2, 2012 | November 13, 2017 |
Frequently asked questions about QXM and INOC
Which ETF has performed better year to date: QXM or INOC?
As of October 16, 2026, QXM has returned 4.96% year to date, while INOC has returned 18.70%. INOC is ahead on YTD performance.
Which ETF is larger by assets under management: QXM or INOC?
As of October 16, 2026, QXM manages $90.77 M in assets, while INOC manages $31.01 M. QXM is the larger fund by AUM.
How are QXM and INOC managed?
QXM is passively managed by CI. It tracks the Morningstar National Bank Quebec Total Return Index - CAD benchmark. INOC is passively managed by Global X. It tracks the Nasdaq Inovestor Canada Net Total Return Index - CAD benchmark.
What sectors do QXM and INOC emphasize?
QXM is most exposed to Industrials, Finance, and Consumer Non-Cyclicals. INOC is most exposed to Non-Energy Materials, Finance, and Industrials.
Which ETF is attracting more investor flows: QXM or INOC?
Year to date, QXM has seen +$1.95 M in net flows, compared with -$6.75 M for INOC. QXM has attracted more net investor money so far.
How do the fees of QXM and INOC compare?
QXM has an expense ratio of 0.55%, while INOC has an expense ratio of 0.74%.
What are the top holdings of QXM and INOC?
QXM's largest holdings include iA Financial Corp., Inc., CGI, Inc., and Power Corp of Canada. INOC's top holdings include K92 Mining, Inc., DPM Metals, Inc., and Wesdome Gold Mines Ltd..
Which ETF is more diversified: QXM or INOC?
QXM holds 49 securities, while INOC holds 24. On holdings count, QXM is the more diversified portfolio.
Recent articles about QXM and INOC
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