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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 20.39% year-to-date with +$612 M in net flows, whereas ZEM is at 20.16% with +$784 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 | $4,373.98 M | $3,325.59 M |
| Management Fees | 0.25% | 0.25% |
| Exp. ratio | 0.28% | 0.27% |
| Tracking Difference | - | 0.57% |
Historical performance and flows
As of June 10, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XEC | -1.55% | +13.61% | +20.39% | +41.24% | +80.39% |
ZEM | -2.18% | +12.83% | +20.16% | +42.51% | +80.49% | |
| Flows | XEC | +$24 M | +$240 M | +$612 M | +$1,140 M | +$1,666 M |
ZEM | -$166 M | +$127 M | +$784 M | +$1,135 M | +$884 M |
XEC vs ZEM exposure
Countries
XEC
Taiwan
24.01%
Republic of Korea
18.24%
India
12.93%
Cayman Islands
10.86%
China
9.01%
Other
24.94%
ZEM
Taiwan
24.40%
Republic of Korea
18.64%
India
11.98%
Cayman Islands
11.64%
China
10.13%
Other
23.21%
Sectors
XEC
Information Technology
34.43%
Financials
17.10%
Consumer Discretionary
8.68%
Industrials
7.43%
Other
32.37%
ZEM
Information Technology
36.78%
Financials
18.46%
Consumer Discretionary
8.75%
Other
36.01%
As of June 10, 2026
Top 10 Holdings
XEC
TWN SEMICONT MAN
12.24%
SAMSUNG ELECTR
5.20%
SK HYNIX
3.49%
TENCENT HOLDINGS
2.82%
ALIBABA GROUP HOLDING LTD
2.04%
DELTA ELECTRONIC
0.98%
MEDIATEK INC
0.93%
CHINA CONSTRUCTION BANK
0.80%
HDFC BANK
0.68%
RELIANCE INDUSTRIES
0.68%
ZEM
TWN SEMICONT MAN
14.18%
SAMSUNG ELECTR
6.01%
SK HYNIX
4.04%
TENCENT HOLDINGS
3.25%
ALIBABA GROUP HOLDING LTD
2.36%
DELTA ELECTRONIC
1.14%
MEDIATEK INC
1.07%
CHINA CONSTRUCTION BANK
0.92%
HDFC BANK
0.79%
RELIANCE INDUSTRIES
0.78%
Diversification
XEC
Total weight of top 10 holdings out of 3,014 total
29.86%
ZEM
Total weight of top 10 holdings out of 1,211 total
34.56%
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 | 1.60% | 1.86% |
| 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 June 10, 2026, XEC has returned 20.39% year to date, while ZEM has returned 20.16%. XEC is ahead on YTD performance.
Which ETF is larger by assets under management: XEC or ZEM?
As of June 10, 2026, XEC manages $4.37 B in assets, while ZEM manages $3.33 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 +$612.02 M in net flows, compared with +$783.91 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 2644 securities, while ZEM holds 1095. On holdings count, XEC is the more diversified portfolio.
Recent articles about XEC and ZEM
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