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Compare Vanguard FTSE Emerging Markets All Cap Index ETF (VEE) vs BMO MSCI Emerging Markets Index ETF (ZEM) to find the best fit for your portfolio. VEE and ZEM provide the same top sector exposures: Technology, Finance, and Non-Energy Materials. When evaluating costs, VEE features a management fee (MER) of 0.23%, compared to 0.25% for ZEM. Performance-wise, VEE has returned 11.6% year-to-date with +$868 M in net flows, whereas ZEM is at 21.23% with +$791 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
VEE
ZEM
| AuM | $4,427.17 M | $3,367.32 M |
| Management Fees | 0.23% | 0.25% |
| Exp. ratio | 0.26% | 0.27% |
| Tracking Difference | 3.52% | 7.16% |
Historical performance and flows
As of July 31, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | VEE | -1.66% | +2.78% | +11.60% | +21.77% | +56.32% |
ZEM | -2.21% | +5.86% | +21.23% | +36.93% | +75.61% | |
| Flows | VEE | +$102 M | +$313 M | +$868 M | +$1,144 M | +$1,658 M |
ZEM | +$88 M | -$113 M | +$791 M | +$1,115 M | +$1,043 M |
VEE vs ZEM exposure
Countries
VEE
Taiwan
32.62%
China
22.15%
India
15.72%
Other
29.51%
ZEM
Taiwan
27.28%
Republic of Korea
23.67%
China
17.19%
India
11.06%
Other
20.81%
Sectors
VEE
Technology
35.21%
Finance
20.64%
Non-Energy Materials
8.54%
Other
35.61%
ZEM
Technology
48.23%
Finance
20.33%
Other
31.44%
As of July 31, 2026
Top 10 Holdings
VEE
Taiwan Semiconductor Manufacturing Co., Ltd.
15.60%
Tencent Holdings Ltd.
2.81%
Alibaba Group Holding Ltd.
1.79%
MediaTek, Inc.
1.63%
Delta Electronics, Inc.
0.99%
Hon Hai Precision Industry Co., Ltd.
0.79%
HDFC Bank Ltd.
0.78%
Reliance Industries Ltd.
0.75%
China Construction Bank Corp.
0.74%
ICICI Bank Ltd.
0.63%
ZEM
Taiwan Semiconductor Manufacturing Co., Ltd.
15.05%
Samsung Electronics Co., Ltd.
8.14%
SK hynix, Inc.
7.63%
Tencent Holdings Ltd.
2.73%
Alibaba Group Holding Ltd.
1.60%
MediaTek, Inc.
1.55%
Delta Electronics, Inc.
0.96%
Samsung Electronics Co., Ltd.
0.89%
SK Square Co. Ltd.
0.82%
Hon Hai Precision Industry Co., Ltd.
0.78%
Diversification
VEE
Total weight of top 10 holdings out of 4,936 total
26.51%
ZEM
Total weight of top 10 holdings out of 1,179 total
40.15%
Characteristics
Compare
VEE
ZEM
| Provider | Vanguard | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Emerging Markets All Cap China A Inclusion Net Tax (US RIC) Index - CAD | MSCI Emerging Markets Net Total Return Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.86% | 1.85% |
| Meets ESG criteria | No | No |
| Inception Date | November 30, 2011 | October 20, 2009 |
Frequently asked questions about VEE and ZEM
Which ETF has performed better year to date: VEE or ZEM?
As of July 31, 2026, VEE has returned 11.60% year to date, while ZEM has returned 21.23%. ZEM is ahead on YTD performance.
Which ETF is larger by assets under management: VEE or ZEM?
As of July 31, 2026, VEE manages $4.43 B in assets, while ZEM manages $3.37 B. VEE is the larger fund by AUM.
How are VEE and ZEM managed?
VEE is passively managed by Vanguard. It tracks the FTSE Emerging Markets All Cap China A Inclusion Net Tax (US RIC) Index - CAD benchmark. ZEM is passively managed by BMO. It tracks the MSCI Emerging Markets Net Total Return Index - CAD benchmark.
What sectors do VEE and ZEM emphasize?
VEE is most exposed to Technology, Finance, and Non-Energy Materials. ZEM is most exposed to Technology, Finance, and Non-Energy Materials.
Which ETF is attracting more investor flows: VEE or ZEM?
Year to date, VEE has seen +$867.55 M in net flows, compared with +$790.54 M for ZEM. VEE has attracted more net investor money so far.
How do the fees of VEE and ZEM compare?
VEE has an expense ratio of 0.26%, while ZEM has an expense ratio of 0.27%.
What are the top holdings of VEE and ZEM?
VEE's largest holdings include Taiwan Semiconductor Manufacturing Co., Ltd., Tencent Holdings Ltd., and Alibaba Group Holding Ltd.. ZEM's top holdings include Taiwan Semiconductor Manufacturing Co., Ltd., Samsung Electronics Co., Ltd., and SK hynix, Inc..
Which ETF is more diversified: VEE or ZEM?
VEE holds 4562 securities, while ZEM holds 1121. On holdings count, VEE is the more diversified portfolio.
Recent articles about VEE and ZEM
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