VS
iShares S&P/TSX Global Base Metals Index ETF (XBM) and iShares S&P/TSX Capped Materials Index ETF (XMA) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XBM focuses its top 3 sector exposures on Materials, while XMA leans towards Materials. When evaluating costs, XBM features a management fee (MER) of 0.55%, compared to 0.55% for XMA. Performance-wise, XBM has returned 20.51% year-to-date with +$141 M in net flows, whereas XMA is at 11.11% with +$270 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
XBM
XMA
| AuM | $561.96 M | $722.12 M |
| Management Fees | 0.55% | 0.55% |
| Exp. ratio | 0.60% | 0.61% |
| Tracking Difference | -1.01% | 0.89% |
Historical performance and flows
As of April 24, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XBM | +16.67% | +0.95% | +20.51% | +94.56% | +84.16% |
XMA | +9.53% | -9.30% | +11.11% | +79.80% | +134.57% | |
| Flows | XBM | +$28 M | +$84 M | +$141 M | +$156 M | +$113 M |
XMA | +$24 M | +$204 M | +$270 M | +$312 M | +$191 M |
XBM vs XMA exposure
Countries
XBM
USA
55.61%
Canada
41.83%
XMA
Canada
99.91%
Sectors
XBM
Materials
68.82%
Other
31.18%
XMA
Materials
82.53%
Other
17.48%
As of April 24, 2026
Top 10 Holdings
XBM
US7672041008
10.83%
US0886061086
10.60%
FREEPORT-MCMORAN INC
10.21%
TECK RESOURCES LIMITED
9.29%
ALCOA CORP
6.90%
LUNDIN MINING
6.74%
FST QUANTUM MIN
6.47%
SOUTHERN COPPER CORPORATION
5.71%
HUDBAY MINERALS
3.33%
MP MATERIALS CORPORATION
2.61%
XMA
AGNICO EAGLE MINES LTD
15.62%
CA06849F1080
10.52%
WHEATON PRECIOUS METALS CORP
9.16%
FRANCO NEVADA
7.33%
KINROSS GOLD
5.64%
NUTRIEN LTD
5.58%
TECK RESOURCES LIMITED
3.56%
PAN AMERICAN
3.55%
ALAMOS GOLD
2.87%
LUNDIN MINING
2.59%
Diversification
XBM
Total weight of top 10 holdings out of 57 total
72.68%
XMA
Total weight of top 10 holdings out of 60 total
66.41%
Characteristics
Compare
XBM
XMA
| Provider | iShares | iShares |
| Management | Passively managed | Passively managed |
| Benchmark | S&P/TSX Global Base Metals Total Return Index - CAD | S&P/TSX Capped Materials Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 0.71% | 0.36% |
| Meets ESG criteria | No | No |
| Inception Date | April 12, 2011 | December 19, 2005 |
Frequently asked questions about XBM and XMA
Which ETF has performed better year to date: XBM or XMA?
As of April 24, 2026, XBM has returned 20.51% year to date, while XMA has returned 11.11%. XBM is ahead on YTD performance.
Which ETF is larger by assets under management: XBM or XMA?
As of April 24, 2026, XBM manages $561.96 M in assets, while XMA manages $722.12 M. XMA is the larger fund by AUM.
How are XBM and XMA managed?
XBM is passively managed by iShares. It tracks the S&P/TSX Global Base Metals Total Return Index - CAD benchmark. XMA is passively managed by iShares. It tracks the S&P/TSX Capped Materials Index - CAD benchmark.
What sectors do XBM and XMA emphasize?
XBM is most exposed to Materials. XMA is most exposed to Materials.
Which ETF is attracting more investor flows: XBM or XMA?
Year to date, XBM has seen +$141.35 M in net flows, compared with +$269.86 M for XMA. XMA has attracted more net investor money so far.
How do the fees of XBM and XMA compare?
XBM has an expense ratio of 0.60%, while XMA has an expense ratio of 0.61%.
What are the top holdings of XBM and XMA?
XBM's largest holdings include FREEPORT-MCMORAN INC and TECK RESOURCES LIMITED. XMA's top holdings include AGNICO EAGLE MINES LTD and WHEATON PRECIOUS METALS CORP.
Which ETF is more diversified: XBM or XMA?
XBM holds 39 securities, while XMA holds 48. On holdings count, XMA is the more diversified portfolio.
Recent articles about XBM and XMA
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Posted on 7/3/2025 by Kyle Anthony inDefense
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