VS
Compare iShares Core MSCI Emerging Markets IMI Index ETF (XEC) vs BMO MSCI Emerging Markets Index ETF (ZEM) to find the best fit for your portfolio. XEC and ZEM provide the same top sector exposures: Information Technology, Financials, and Consumer Discretionary. When evaluating costs, XEC features a management fee (MER) of 0.25%, compared to 0.25% for ZEM. Performance-wise, XEC has returned 14.79% year-to-date with +$504 M in net flows, whereas ZEM is at 15.27% with +$882 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
XEC
ZEM
| AuM | $4,065.72 M | $3,280.00 M |
| Management Fees | 0.25% | 0.25% |
| Exp. ratio | 0.28% | 0.27% |
| Tracking Difference | - | 2.40% |
Historical performance and flows
As of April 24, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XEC | +10.76% | +7.08% | +14.79% | +46.66% | +75.25% |
ZEM | +11.25% | +6.92% | +15.27% | +48.00% | +76.61% | |
| Flows | XEC | +$121 M | +$448 M | +$504 M | +$1,089 M | +$1,938 M |
ZEM | +$163 M | +$699 M | +$882 M | +$1,330 M | +$757 M |
XEC vs ZEM exposure
Countries
XEC
Taiwan
22.04%
Republic of Korea
15.37%
India
13.43%
Cayman Islands
12.15%
China
9.72%
Other
27.29%
ZEM
Taiwan
22.19%
Republic of Korea
15.43%
Cayman Islands
12.99%
India
12.57%
China
10.92%
Other
25.89%
Sectors
XEC
Information Technology
29.87%
Financials
18.73%
Consumer Discretionary
9.44%
Industrials
7.16%
Other
34.80%
ZEM
Information Technology
31.72%
Financials
20.18%
Consumer Discretionary
9.50%
Communication Services
7.49%
Other
31.11%
As of April 24, 2026
Top 10 Holdings
XEC
TWN SEMICONT MAN
11.48%
SAMSUNG ELECTR
4.38%
TENCENT HOLDINGS
3.34%
SK HYNIX
2.44%
ALIBABA GROUP HOLDING LTD
2.21%
CHINA CONSTRUCTION BANK
0.87%
HDFC BANK
0.74%
RELIANCE INDUSTRIES
0.73%
DELTA ELECTRONIC
0.71%
HON HAI PRECISION INDUSTRY
0.63%
ZEM
TWN SEMICONT MAN
13.26%
SAMSUNG ELECTR
5.05%
TENCENT HOLDINGS
3.85%
SK HYNIX
2.81%
ALIBABA GROUP HOLDING LTD
2.55%
CHINA CONSTRUCTION BANK
1.01%
HDFC BANK
0.86%
RELIANCE INDUSTRIES
0.84%
DELTA ELECTRONIC
0.82%
HON HAI PRECISION INDUSTRY
0.72%
Diversification
XEC
Total weight of top 10 holdings out of 3,005 total
27.54%
ZEM
Total weight of top 10 holdings out of 1,207 total
31.78%
Characteristics
Compare
XEC
ZEM
| Provider | iShares | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | MSCI Emerging Markets IMI Local Net Total Return Index - USD | MSCI Emerging Markets Net Total Return Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.68% | 1.94% |
| Meets ESG criteria | No | No |
| Inception Date | April 10, 2013 | October 20, 2009 |
Frequently asked questions about XEC and ZEM
Which ETF has performed better year to date: XEC or ZEM?
As of April 24, 2026, XEC has returned 14.79% year to date, while ZEM has returned 15.27%. ZEM is ahead on YTD performance.
Which ETF is larger by assets under management: XEC or ZEM?
As of April 24, 2026, XEC manages $4.07 B in assets, while ZEM manages $3.28 B. XEC is the larger fund by AUM.
How are XEC and ZEM managed?
XEC is passively managed by iShares. It tracks the MSCI Emerging Markets IMI Local Net Total Return Index - USD benchmark. ZEM is passively managed by BMO. It tracks the MSCI Emerging Markets Net Total Return Index - CAD benchmark.
What sectors do XEC and ZEM emphasize?
XEC is most exposed to Information Technology, Financials, and Consumer Discretionary. ZEM is most exposed to Information Technology, Financials, and Consumer Discretionary.
Which ETF is attracting more investor flows: XEC or ZEM?
Year to date, XEC has seen +$504.23 M in net flows, compared with +$881.81 M for ZEM. ZEM has attracted more net investor money so far.
How do the fees of XEC and ZEM compare?
XEC has an expense ratio of 0.28%, while ZEM has an expense ratio of 0.27%.
What are the top holdings of XEC and ZEM?
XEC's largest holdings include TWN SEMICONT MAN and SAMSUNG ELECTR. ZEM's top holdings include TWN SEMICONT MAN and SAMSUNG ELECTR.
Which ETF is more diversified: XEC or ZEM?
XEC holds 2641 securities, while ZEM holds 1095. On holdings count, XEC is the more diversified portfolio.
Recent articles about XEC and ZEM
South Korea ETFs: Powering Emerging Market Gains
South Korea’s semiconductor boom is driving emerging markets higher—here’s how ETFs are capturing that momentum.
Posted Today at 11:00 AM by Kyle Anthony inGlobal
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.