VS
Compare iShares Canadian Value Index ETF (XCV) vs BMO Equal Weight Banks Index ETF (ZEB) to find the best fit for your portfolio. XCV provides Finance, Energy, and Non-Energy Materials exposures, while ZEB is primarily weighted in Finance. When evaluating costs, XCV features a management fee (MER) of 0.5%, compared to 0.25% for ZEB. Performance-wise, XCV has returned 25.88% year-to-date with +$107 M in net flows, whereas ZEB is at 29.78% with +$553 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
XCV
ZEB
| AuM | $249.42 M | $7,408.92 M |
| Management Fees | 0.50% | 0.25% |
| Exp. ratio | 0.55% | 0.28% |
| Tracking Difference | -0.91% | -0.54% |
Historical performance and flows
As of September 15, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XCV | -1.72% | +2.81% | +25.88% | +39.65% | +115.01% |
ZEB | -4.70% | +2.36% | +29.78% | +48.24% | +152.32% | |
| Flows | XCV | +$6 M | +$0 M | +$107 M | +$112 M | +$81 M |
ZEB | +$284 M | +$1,575 M | +$553 M | +$1,190 M | -$261 M |
XCV vs ZEB exposure
Countries
XCV
Canada
99.72%
ZEB
Canada
100.00%
Sectors
XCV
Finance
61.45%
Energy
26.75%
Other
11.80%
ZEB
Finance
100.00%
As of September 15, 2026
Top 10 Holdings
XCV
Royal Bank of Canada
10.07%
The Toronto-Dominion Bank
9.91%
Bank of Montreal
7.79%
Enbridge, Inc.
7.53%
Canadian Imperial Bank of Commerce
6.77%
The Bank of Nova Scotia
6.72%
Canadian Natural Resources Ltd.
6.13%
Suncor Energy, Inc.
4.90%
Manulife Financial Corp.
4.62%
TC Energy Corp.
4.41%
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
XCV
Total weight of top 10 holdings out of 35 total
68.85%
ZEB
Total weight of top 10 holdings out of 6 total
100.00%
Characteristics
Compare
XCV
ZEB
| Provider | iShares | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | Dow Jones Canada Select Value 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 | 2.19% | 2.35% |
| Meets ESG criteria | No | No |
| Inception Date | November 6, 2006 | October 20, 2009 |
Frequently asked questions about XCV and ZEB
Which ETF has performed better year to date: XCV or ZEB?
As of September 15, 2026, XCV has returned 25.88% year to date, while ZEB has returned 29.78%. ZEB is ahead on YTD performance.
Which ETF is larger by assets under management: XCV or ZEB?
As of September 15, 2026, XCV manages $249.42 M in assets, while ZEB manages $7.41 B. ZEB is the larger fund by AUM.
How are XCV and ZEB managed?
XCV is passively managed by iShares. It tracks the Dow Jones Canada Select Value 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 XCV and ZEB emphasize?
XCV is most exposed to Finance, Energy, and Non-Energy Materials. ZEB is most exposed to Finance.
Which ETF is attracting more investor flows: XCV or ZEB?
Year to date, XCV has seen +$107.49 M in net flows, compared with +$553.06 M for ZEB. ZEB has attracted more net investor money so far.
How do the fees of XCV and ZEB compare?
XCV has an expense ratio of 0.55%, while ZEB has an expense ratio of 0.28%.
What are the top holdings of XCV and ZEB?
XCV's largest holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and Bank of Montreal. ZEB's top holdings include Royal Bank of Canada, Bank of Montreal, and The Toronto-Dominion Bank.
Which ETF is more diversified: XCV or ZEB?
XCV holds 35 securities, while ZEB holds 6. On holdings count, XCV is the more diversified portfolio.
Recent articles about XCV and ZEB
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.