VS
Compare iShares S&P/TSX Global Base Metals Index ETF (XBM) vs BMO Equal Weight Global Base Metals Hedged to CAD Index ETF (ZMT) to find the best fit for your portfolio. XBM and ZMT provide the same top sector exposures: Non-Energy Materials and Industrials. When evaluating costs, XBM features a management fee (MER) of 0.55%, compared to 0.55% for ZMT. Performance-wise, XBM has returned 23.75% year-to-date with +$196 M in net flows, whereas ZMT is at 23.88% with +$18 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
ZMT
| AuM | $625.67 M | $83.52 M |
| Management Fees | 0.55% | 0.55% |
| Exp. ratio | 0.60% | 0.61% |
| Tracking Difference | -1.18% | -0.54% |
Historical performance and flows
As of September 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XBM | -3.24% | -3.34% | +23.75% | +58.96% | +91.67% |
ZMT | -5.42% | -2.97% | +23.88% | +59.04% | +142.32% | |
| Flows | XBM | +$15 M | +$1 M | +$196 M | +$208 M | +$206 M |
ZMT | +$0 M | +$3 M | +$18 M | +$34 M | +$22 M |
XBM vs ZMT exposure
Countries
XBM
Canada
41.92%
USA
31.70%
Australia
11.17%
United Kingdom
10.57%
ZMT
Canada
49.32%
USA
34.22%
Other
16.46%
Sectors
XBM
Non-Energy Materials
99.61%
ZMT
Non-Energy Materials
97.67%
As of September 11, 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%
ZMT
Hudbay Minerals, Inc.
5.02%
Luxfer Holdings Plc
3.48%
Carpenter Technology Corp.
3.20%
Kaiser Aluminum Corp.
3.19%
Altius Minerals Corp.
3.12%
Compass Minerals International, Inc.
3.10%
Osisko Metals, Inc.
3.09%
Teck Resources Limited
3.03%
ATI, Inc.
2.97%
Nexa Resources SA
2.97%
Diversification
XBM
Total weight of top 10 holdings out of 54 total
74.19%
ZMT
Total weight of top 10 holdings out of 40 total
33.16%
Characteristics
Compare
XBM
ZMT
| Provider | iShares | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | S&P/TSX Global Base Metals Total Return Index - CAD | Solactive Equal Weight Global Base Metals Canadian Dollar Hedged Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 0.67% | 0.17% |
| Meets ESG criteria | No | No |
| Inception Date | April 12, 2011 | October 20, 2009 |
Frequently asked questions about XBM and ZMT
Which ETF has performed better year to date: XBM or ZMT?
As of September 11, 2026, XBM has returned 23.75% year to date, while ZMT has returned 23.88%. ZMT is ahead on YTD performance.
Which ETF is larger by assets under management: XBM or ZMT?
As of September 11, 2026, XBM manages $625.67 M in assets, while ZMT manages $83.52 M. XBM is the larger fund by AUM.
How are XBM and ZMT managed?
XBM is passively managed by iShares. It tracks the S&P/TSX Global Base Metals Total Return Index - CAD benchmark. ZMT is passively managed by BMO. It tracks the Solactive Equal Weight Global Base Metals Canadian Dollar Hedged Index - CAD benchmark.
What sectors do XBM and ZMT emphasize?
XBM is most exposed to Non-Energy Materials and Industrials. ZMT is most exposed to Non-Energy Materials and Industrials.
Which ETF is attracting more investor flows: XBM or ZMT?
Year to date, XBM has seen +$195.75 M in net flows, compared with +$18.17 M for ZMT. XBM has attracted more net investor money so far.
How do the fees of XBM and ZMT compare?
XBM has an expense ratio of 0.60%, while ZMT has an expense ratio of 0.61%.
What are the top holdings of XBM and ZMT?
XBM's largest holdings include Teck Resources Limited, BHP Group Ltd., and Freeport-McMoRan, Inc.. ZMT's top holdings include Hudbay Minerals, Inc., Luxfer Holdings Plc, and Carpenter Technology Corp..
Which ETF is more diversified: XBM or ZMT?
XBM holds 54 securities, while ZMT holds 40. On holdings count, XBM is the more diversified portfolio.
Recent articles about XBM and ZMT
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.