VS
Compare iShares S&P/TSX Small Cap Index ETF (XCS) vs BMO Equal Weight Banks Index ETF (ZEB) to find the best fit for your portfolio. XCS provides Materials, Energy, and Real Estate exposures, while ZEB is primarily weighted in Financials. When evaluating costs, XCS features a management fee (MER) of 0.55%, compared to 0.25% for ZEB. Performance-wise, XCS has returned 20.76% year-to-date with -$6 M in net flows, whereas ZEB is at 15.03% with -$1,114 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
XCS
ZEB
| AuM | $258.63 M | $5,154.86 M |
| Management Fees | 0.55% | 0.25% |
| Exp. ratio | 0.60% | 0.28% |
| Tracking Difference | -1.13% | -0.67% |
Historical performance and flows
As of May 7, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XCS | +7.23% | +6.21% | +20.76% | +79.13% | +114.36% |
ZEB | +9.65% | +10.03% | +15.03% | +65.52% | +121.30% | |
| Flows | XCS | +$7 M | +$5 M | -$6 M | -$2 M | +$0 M |
ZEB | -$391 M | -$648 M | -$1,114 M | -$1,641 M | -$1,550 M |
XCS vs ZEB exposure
Countries
XCS
Canada
99.22%
ZEB
Canada
100.00%
Sectors
XCS
Materials
23.32%
Energy
22.51%
Other
14.43%
Real Estate
9.22%
Industrials
8.90%
Other
21.62%
ZEB
Financials
100.00%
As of May 7, 2026
Top 10 Holdings
XCS
TAMARACK VALLEY ENERGY
1.89%
METHANEX
1.87%
ATHABASCA OIL
1.83%
SPROTT
1.44%
CA3499421020
1.43%
DENISON MINES
1.40%
CA01921D2041
1.40%
BAYTEX ENERGY
1.38%
KINAXIS
1.32%
CA8139211038
1.32%
ZEB
ROYAL BK CANADA
17.14%
TORONTO DOMINION
17.02%
BNS
16.62%
BANK OF MONTREAL
16.48%
CDN IMPERIAL BK
16.40%
NATIONAL BANK OF CANADA
16.33%
Diversification
XCS
Total weight of top 10 holdings out of 233 total
15.28%
ZEB
Total weight of top 10 holdings out of 6 total
100.00%
Characteristics
Compare
XCS
ZEB
| Provider | iShares | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | S&P/TSX Smallcap 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 | 1.05% | 2.62% |
| Meets ESG criteria | No | No |
| Inception Date | May 14, 2007 | October 20, 2009 |
Frequently asked questions about XCS and ZEB
Which ETF has performed better year to date: XCS or ZEB?
As of May 7, 2026, XCS has returned 20.76% year to date, while ZEB has returned 15.03%. XCS is ahead on YTD performance.
Which ETF is larger by assets under management: XCS or ZEB?
As of May 7, 2026, XCS manages $258.63 M in assets, while ZEB manages $5.15 B. ZEB is the larger fund by AUM.
How are XCS and ZEB managed?
XCS is passively managed by iShares. It tracks the S&P/TSX Smallcap 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 XCS and ZEB emphasize?
XCS is most exposed to Materials, Energy, and Real Estate. ZEB is most exposed to Financials.
Which ETF is attracting more investor flows: XCS or ZEB?
Year to date, XCS has seen -$5.80 M in net flows, compared with -$1,113.95 M for ZEB. XCS has attracted more net investor money so far.
How do the fees of XCS and ZEB compare?
XCS has an expense ratio of 0.60%, while ZEB has an expense ratio of 0.28%.
What are the top holdings of XCS and ZEB?
XCS's largest holdings include TAMARACK VALLEY ENERGY and METHANEX. ZEB's top holdings include ROYAL BK CANADA, TORONTO DOMINION, and BNS.
Which ETF is more diversified: XCS or ZEB?
XCS holds 198 securities, while ZEB holds 6. On holdings count, XCS is the more diversified portfolio.
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