VS
Compare iShares U.S. Aerospace & Defense Index ETF (XAD) vs BMO SPDR Industrials Select Sector Index ETF (ZXLI) to find the best fit for your portfolio. XAD provides Industrials, Materials, and Consumer Discretionary exposures, while ZXLI is primarily weighted in Industrials and Information Technology. When evaluating costs, XAD features a management fee (MER) of 0.39%, compared to 0.21% for ZXLI. Performance-wise, XAD has returned 12.43% year-to-date with +$58 M in net flows, whereas ZXLI is at 15.07% with +$15 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
XAD
ZXLI
| AuM | $180.95 M | $23.71 M |
| Management Fees | 0.39% | 0.21% |
| Exp. ratio | 0.43% | 0.21% |
| Tracking Difference | -0.83% | - |
Historical performance and flows
As of June 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XAD | +7.06% | +1.83% | +12.43% | +34.36% | - |
ZXLI | +2.11% | +6.40% | +15.07% | +25.40% | - | |
| Flows | XAD | -$7 M | +$0 M | +$58 M | +$114 M | - |
ZXLI | -$1 M | -$7 M | +$15 M | +$17 M | - |
XAD vs ZXLI exposure
Countries
XAD
USA
97.77%
ZXLI
USA
92.73%
Ireland
7.19%
Sectors
XAD
Industrials
89.15%
Other
7.05%
ZXLI
Industrials
91.43%
Other
8.57%
As of June 11, 2026
Top 10 Holdings
XAD
GENERAL ELECTRIC
19.42%
RAYTHEON TECHNOLOGIES CORPORD
15.09%
BOEING U
10.24%
GENERAL DYNAMICS
4.78%
HOWMET AEROSPACE INC
4.74%
TRANSDIGM GROUP
4.53%
L3 HARRIS TECHNOLOGIES
4.32%
LOCKHEED MARTIN
3.92%
NORTHROP GRUMMAN
3.88%
US7731211089
3.27%
ZXLI
CATERPILLAR
7.61%
GENERAL ELECTRIC
5.59%
US36828A1016
5.36%
RAYTHEON TECHNOLOGIES CORPORD
4.34%
BOEING U
3.30%
EATON CORP PLC
3.09%
UNION PACIFIC U
2.94%
UBER TECHNOLOGIES INC
2.82%
DEERE
2.73%
HONEYWELL INTL
2.50%
Diversification
XAD
Total weight of top 10 holdings out of 44 total
74.20%
ZXLI
Total weight of top 10 holdings out of 79 total
40.28%
Characteristics
Compare
XAD
ZXLI
| Provider | iShares | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | Dow Jones U.S. Select Aerospace & Defense Index - CAD | S&P Industrial Select Sector Total Return Index - USD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 0.31% | 1.81% |
| Meets ESG criteria | No | No |
| Inception Date | September 6, 2023 | February 2, 2025 |
Frequently asked questions about XAD and ZXLI
Which ETF has performed better year to date: XAD or ZXLI?
As of June 11, 2026, XAD has returned 12.43% year to date, while ZXLI has returned 15.07%. ZXLI is ahead on YTD performance.
Which ETF is larger by assets under management: XAD or ZXLI?
As of June 11, 2026, XAD manages $180.95 M in assets, while ZXLI manages $23.71 M. XAD is the larger fund by AUM.
How are XAD and ZXLI managed?
XAD is passively managed by iShares. It tracks the Dow Jones U.S. Select Aerospace & Defense Index - CAD benchmark. ZXLI is passively managed by BMO. It tracks the S&P Industrial Select Sector Total Return Index - USD benchmark.
What sectors do XAD and ZXLI emphasize?
XAD is most exposed to Industrials, Materials, and Consumer Discretionary. ZXLI is most exposed to Industrials and Information Technology.
Which ETF is attracting more investor flows: XAD or ZXLI?
Year to date, XAD has seen +$57.68 M in net flows, compared with +$15.46 M for ZXLI. XAD has attracted more net investor money so far.
How do the fees of XAD and ZXLI compare?
XAD has an expense ratio of 0.43%, while ZXLI has an expense ratio of 0.21%.
What are the top holdings of XAD and ZXLI?
XAD's largest holdings include GENERAL ELECTRIC, RAYTHEON TECHNOLOGIES CORPORD, and BOEING U. ZXLI's top holdings include CATERPILLAR and GENERAL ELECTRIC.
Which ETF is more diversified: XAD or ZXLI?
XAD holds 36 securities, while ZXLI holds 77. On holdings count, ZXLI is the more diversified portfolio.
Recent articles about XAD and ZXLI
The ETF Market Canada is brought to you by Cboe in partnership with Trackinsight SA who is providing all the data, analysis and editorial content on this site. Unless explicitly stated as such, any information that you receive is not real-time.
All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.
All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.