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 19.11% year-to-date with +$196 M in net flows, whereas ZEB is at 30.81% with +$572 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
ZEB
| AuM | $602.21 M | $7,486.68 M |
| Management Fees | 0.55% | 0.25% |
| Exp. ratio | 0.60% | 0.28% |
| Tracking Difference | -1.18% | -0.54% |
Historical performance and flows
As of September 16, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XBM | -5.42% | -11.09% | +19.11% | +51.64% | +82.70% |
ZEB | -3.95% | +2.15% | +30.81% | +49.17% | +154.33% | |
| Flows | XBM | +$18 M | -$3 M | +$196 M | +$208 M | +$206 M |
ZEB | +$302 M | +$1,539 M | +$572 M | +$1,209 M | -$243 M |
XBM vs ZEB exposure
Countries
XBM
Canada
41.92%
USA
31.70%
Australia
11.17%
United Kingdom
10.57%
ZEB
Canada
100.00%
Sectors
XBM
Non-Energy Materials
99.61%
ZEB
Finance
100.00%
As of September 16, 2026
Top 10 Holdings
XBM
Teck Resources Limited
10.86%
BHP Group Ltd.
10.81%
Freeport-McMoRan, Inc.
10.67%
Rio Tinto Plc
10.24%
First Quantum Minerals Ltd.
7.49%
Lundin Mining Corp.
6.85%
Southern Copper Corp.
6.16%
Alcoa Corp.
4.73%
Hudbay Minerals, Inc.
4.01%
Capstone Copper Corp.
2.36%
ZEB
Royal Bank of Canada
17.39%
Bank of Montreal
17.03%
The Toronto-Dominion Bank
16.96%
The Bank of Nova Scotia
16.51%
Canadian Imperial Bank of Commerce
16.09%
National Bank of Canada
16.03%
Diversification
XBM
Total weight of top 10 holdings out of 54 total
74.19%
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 | 0.70% | 2.34% |
| 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 September 16, 2026, XBM has returned 19.11% year to date, while ZEB has returned 30.81%. ZEB is ahead on YTD performance.
Which ETF is larger by assets under management: XBM or ZEB?
As of September 16, 2026, XBM manages $602.21 M in assets, while ZEB manages $7.49 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 +$195.70 M in net flows, compared with +$571.80 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 Royal Bank of Canada, Bank of Montreal, and The Toronto-Dominion Bank.
Which ETF is more diversified: XBM or ZEB?
XBM holds 54 securities, while ZEB holds 6. On holdings count, XBM is the more diversified portfolio.
Recent articles about XBM and ZEB
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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.