VS
iShares S&P/TSX Global Base Metals Index ETF (XBM) and BMO Equal Weight Banks Index ETF (ZEB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XBM focuses its top 3 sector exposures on Non-Energy Materials and Industrials, while ZEB leans towards Finance. When evaluating costs, XBM features a management fee (MER) of 0.55%, compared to 0.25% for ZEB. Performance-wise, XBM has returned 8.25% year-to-date with +$198 M in net flows, whereas ZEB is at 34.24% with +$1 B. 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
ZEB
| AuM | $550.49 M | $8,349.73 M |
| Management Fees | 0.55% | 0.25% |
| Exp. ratio | 0.60% | 0.28% |
| Tracking Difference | -0.71% | -0.53% |
Historical performance and flows
As of November 9, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XBM | -12.00% | -15.94% | +8.25% | +21.33% | +100.88% |
ZEB | +6.54% | +0.81% | +34.24% | +45.51% | +176.40% | |
| Flows | XBM | +$9 M | +$17 M | +$198 M | +$213 M | +$215 M |
ZEB | +$1,215 M | +$1,024 M | +$1,282 M | +$1,734 M | +$465 M |
XBM vs ZEB exposure
Countries
XBM
Canada
41.90%
USA
32.43%
United Kingdom
10.54%
Australia
10.53%
ZEB
Canada
100.00%
Sectors
XBM
Non-Energy Materials
99.56%
ZEB
Finance
100.00%
As of November 9, 2026
Top 10 Holdings
XBM
Teck Resources Limited
10.45%
BHP Group Ltd.
10.27%
Freeport-McMoRan, Inc.
10.25%
Rio Tinto Plc
10.14%
Southern Copper Corp.
7.05%
First Quantum Minerals Ltd.
6.82%
Lundin Mining Corp.
6.04%
Hudbay Minerals, Inc.
4.46%
Alcoa Corp.
4.15%
MP Materials Corp.
2.65%
ZEB
The Bank of Nova Scotia
17.14%
The Toronto-Dominion Bank
16.99%
Bank of Montreal
16.79%
Canadian Imperial Bank of Commerce
16.49%
Royal Bank of Canada
16.45%
National Bank of Canada
16.14%
Diversification
XBM
Total weight of top 10 holdings out of 58 total
72.29%
ZEB
Total weight of top 10 holdings out of 6 total
100.00%
Characteristics
Compare
XBM
ZEB
| Provider | iShares | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | S&P/TSX Global Base Metals Total Return Index - CAD | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 0.77% | 2.30% |
| Meets ESG criteria | No | No |
| Inception Date | April 12, 2011 | October 20, 2009 |
Frequently asked questions about XBM and ZEB
Which ETF has performed better year to date: XBM or ZEB?
As of November 9, 2026, XBM has returned 8.25% year to date, while ZEB has returned 34.24%. ZEB is ahead on YTD performance.
Which ETF is larger by assets under management: XBM or ZEB?
As of November 9, 2026, XBM manages $550.49 M in assets, while ZEB manages $8.35 B. ZEB is the larger fund by AUM.
How are XBM and ZEB managed?
XBM is passively managed by iShares. It tracks the S&P/TSX Global Base Metals Total Return Index - CAD benchmark. ZEB is passively managed by BMO. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do XBM and ZEB emphasize?
XBM is most exposed to Non-Energy Materials and Industrials. ZEB is most exposed to Finance.
Which ETF is attracting more investor flows: XBM or ZEB?
Year to date, XBM has seen +$197.89 M in net flows, compared with +$1,282.17 M for ZEB. ZEB has attracted more net investor money so far.
How do the fees of XBM and ZEB compare?
XBM has an expense ratio of 0.60%, while ZEB has an expense ratio of 0.28%.
What are the top holdings of XBM and ZEB?
XBM's largest holdings include Teck Resources Limited, BHP Group Ltd., and Freeport-McMoRan, Inc.. ZEB's top holdings include The Bank of Nova Scotia, The Toronto-Dominion Bank, and Bank of Montreal.
Which ETF is more diversified: XBM or ZEB?
XBM holds 58 securities, while ZEB holds 6. On holdings count, XBM is the more diversified portfolio.
Recent articles about XBM and ZEB
Canada's Economic Comeback: 5 ETFs Riding the Minerals and Energy Opportunity
Canada is putting its natural resources and economic ambitions to work. From critical minerals to new oil export routes, five ETFs offer investors different ways to tap into the shift.
Posted on 10/16/2026 by Kyle Anthony inDividends
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