VS
iShares S&P/TSX Global Base Metals Index ETF (XBM) and BMO Equal Weight Utilities Index ETF (ZUT) 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 ZUT leans towards Utilities, Energy, and Industrials. When evaluating costs, XBM features a management fee (MER) of 0.55%, compared to 0.55% for ZUT. Performance-wise, XBM has returned 5.21% year-to-date with +$198 M in net flows, whereas ZUT is at 22.54% with -$83 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
ZUT
| AuM | $535.04 M | $893.73 M |
| Management Fees | 0.55% | 0.55% |
| Exp. ratio | 0.60% | 0.61% |
| Tracking Difference | -0.71% | -0.71% |
Historical performance and flows
As of November 10, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XBM | -12.17% | -18.30% | +5.21% | +17.93% | +93.33% |
ZUT | +6.48% | +5.38% | +22.54% | +14.21% | +75.14% | |
| Flows | XBM | +$6 M | +$17 M | +$198 M | +$213 M | +$215 M |
ZUT | -$18 M | +$17 M | -$83 M | -$30 M | +$231 M |
XBM vs ZUT exposure
Countries
XBM
Canada
41.90%
USA
32.43%
United Kingdom
10.54%
Australia
10.53%
ZUT
Canada
83.93%
Bermuda
16.07%
Sectors
XBM
Non-Energy Materials
99.56%
ZUT
Utilities
83.24%
Energy
8.44%
Industrials
8.32%
As of November 10, 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%
ZUT
Northland Power, Inc.
9.17%
TransAlta Corp.
8.59%
ATCO Ltd.
8.53%
AltaGas Ltd.
8.44%
Canadian Utilities Ltd.
8.43%
Fortis, Inc.
8.34%
Brookfield Infrastructure Partners LP
8.32%
Capital Power Corp.
8.27%
Emera, Inc.
8.26%
Hydro One Ltd.
8.15%
Diversification
XBM
Total weight of top 10 holdings out of 58 total
72.29%
ZUT
Total weight of top 10 holdings out of 12 total
84.50%
Characteristics
Compare
XBM
ZUT
| Provider | iShares | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | S&P/TSX Global Base Metals Total Return Index - CAD | Solactive Equal Weight Canada Utilities Total Return Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 0.79% | 2.72% |
| Meets ESG criteria | No | No |
| Inception Date | April 12, 2011 | January 19, 2010 |
Frequently asked questions about XBM and ZUT
Which ETF has performed better year to date: XBM or ZUT?
As of November 10, 2026, XBM has returned 5.21% year to date, while ZUT has returned 22.54%. ZUT is ahead on YTD performance.
Which ETF is larger by assets under management: XBM or ZUT?
As of November 10, 2026, XBM manages $535.04 M in assets, while ZUT manages $893.73 M. ZUT is the larger fund by AUM.
How are XBM and ZUT managed?
XBM is passively managed by iShares. It tracks the S&P/TSX Global Base Metals Total Return Index - CAD benchmark. ZUT is passively managed by BMO. It tracks the Solactive Equal Weight Canada Utilities Total Return Index - CAD benchmark.
What sectors do XBM and ZUT emphasize?
XBM is most exposed to Non-Energy Materials and Industrials. ZUT is most exposed to Utilities, Energy, and Industrials.
Which ETF is attracting more investor flows: XBM or ZUT?
Year to date, XBM has seen +$197.89 M in net flows, compared with -$83.34 M for ZUT. XBM has attracted more net investor money so far.
How do the fees of XBM and ZUT compare?
XBM has an expense ratio of 0.60%, while ZUT has an expense ratio of 0.61%.
What are the top holdings of XBM and ZUT?
XBM's largest holdings include Teck Resources Limited, BHP Group Ltd., and Freeport-McMoRan, Inc.. ZUT's top holdings include Northland Power, Inc., TransAlta Corp., and ATCO Ltd..
Which ETF is more diversified: XBM or ZUT?
XBM holds 58 securities, while ZUT holds 12. On holdings count, XBM is the more diversified portfolio.
Recent articles about XBM and ZUT
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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