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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 provides Materials exposures, while ZMT is primarily weighted in 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 20.51% year-to-date with +$141 M in net flows, whereas ZMT is at 23.55% with +$8 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 | $561.96 M | $73.46 M |
| Management Fees | 0.55% | 0.55% |
| Exp. ratio | 0.60% | 0.61% |
| Tracking Difference | -1.01% | -0.43% |
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% |
ZMT | +18.81% | +1.48% | +23.55% | +109.89% | +138.68% | |
| Flows | XBM | +$28 M | +$84 M | +$141 M | +$156 M | +$113 M |
ZMT | +$3 M | -$4 M | +$8 M | +$24 M | +$1 M |
XBM vs ZMT exposure
Countries
XBM
USA
55.61%
Canada
41.83%
ZMT
Canada
54.85%
USA
32.18%
United Kingdom
7.57%
Sectors
XBM
Materials
68.82%
Other
31.18%
ZMT
Materials
81.02%
Other
13.60%
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%
ZMT
ALCOA CORP
2.94%
ALTIUS MINERALS
2.81%
LUXFER HOLDINGS
2.76%
CENTURY ALUMINUM
2.75%
NORTHERN DYNASTY MINERALS
2.71%
COMPASS MINERALS INTERNATIONAL
2.68%
US0886061086
2.67%
TECK RESOURCES LIMITED
2.65%
CARPENTER TECHNOLOGY
2.65%
MUELLER INDUSTRIES
2.61%
Diversification
XBM
Total weight of top 10 holdings out of 57 total
72.68%
ZMT
Total weight of top 10 holdings out of 42 total
27.25%
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 | 0.71% | 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 April 24, 2026, XBM has returned 20.51% year to date, while ZMT has returned 23.55%. ZMT is ahead on YTD performance.
Which ETF is larger by assets under management: XBM or ZMT?
As of April 24, 2026, XBM manages $561.96 M in assets, while ZMT manages $73.46 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 Materials. ZMT is most exposed to Materials and Industrials.
Which ETF is attracting more investor flows: XBM or ZMT?
Year to date, XBM has seen +$141.35 M in net flows, compared with +$7.58 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 FREEPORT-MCMORAN INC and TECK RESOURCES LIMITED. ZMT's top holdings include ALCOA CORP and ALTIUS MINERALS.
Which ETF is more diversified: XBM or ZMT?
XBM holds 39 securities, while ZMT holds 36. On holdings count, XBM is the more diversified portfolio.
Recent articles about XBM and ZMT
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