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Compare iShares Core MSCI EAFE IMI Index ETF (XEF) vs BMO MSCI EAFE Index ETF (ZEA) to find the best fit for your portfolio. XEF and ZEA provide the same top sector exposures: Finance, Industrials, and Technology. When evaluating costs, XEF features a management fee (MER) of 0.2%, compared to 0.2% for ZEA. Performance-wise, XEF has returned 12.81% year-to-date with +$6 B in net flows, whereas ZEA is at 12.68% with +$1 B. 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
XEF
ZEA
| AuM | $24,278.82 M | $13,807.55 M |
| Management Fees | 0.20% | 0.20% |
| Exp. ratio | 0.22% | 0.22% |
| Tracking Difference | -0.04% | -0.85% |
Historical performance and flows
As of October 21, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XEF | -1.76% | +0.11% | +12.81% | +13.83% | +76.21% |
ZEA | -1.76% | -0.31% | +12.68% | +13.86% | +74.47% | |
| Flows | XEF | +$584 M | +$1,755 M | +$5,834 M | +$7,071 M | +$12,503 M |
ZEA | +$360 M | +$710 M | +$1,294 M | +$1,437 M | +$3,213 M |
XEF vs ZEA exposure
Countries
XEF
Japan
25.51%
United Kingdom
13.48%
Switzerland
9.02%
Germany
8.08%
France
7.95%
Australia
7.12%
Other
28.84%
ZEA
Japan
25.53%
United Kingdom
13.47%
Switzerland
9.03%
Germany
8.08%
France
7.96%
Australia
7.14%
Other
28.78%
Sectors
XEF
Finance
27.10%
Industrials
16.17%
Technology
12.65%
Healthcare
9.10%
Non-Energy Materials
7.88%
Consumer Non-Cyclicals
7.70%
Other
19.40%
ZEA
Finance
27.10%
Industrials
16.18%
Technology
12.71%
Healthcare
9.12%
Non-Energy Materials
7.86%
Consumer Non-Cyclicals
7.73%
Other
19.29%
As of October 21, 2026
Top 10 Holdings
XEF
ASML Holding NV
2.51%
HSBC Holdings Plc
1.36%
Roche Holding AG
1.17%
Novartis AG
1.07%
Shell Plc
0.97%
Nestlé SA
0.96%
Mitsubishi UFJ Financial Group, Inc.
0.94%
AstraZeneca PLC
0.93%
BHP Group Ltd.
0.93%
Siemens AG
0.92%
ZEA
ASML Holding NV
2.51%
HSBC Holdings Plc
1.35%
Roche Holding AG
1.17%
Novartis AG
1.07%
Shell Plc
0.97%
Nestlé SA
0.96%
Mitsubishi UFJ Financial Group, Inc.
0.94%
AstraZeneca PLC
0.94%
BHP Group Ltd.
0.93%
Siemens AG
0.92%
Diversification
XEF
Total weight of top 10 holdings out of 2,645 total
11.75%
ZEA
Total weight of top 10 holdings out of 2,627 total
11.77%
Characteristics
Compare
XEF
ZEA
| Provider | iShares | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | MSCI EAFE IMI Net Total Return Index - CAD | MSCI EAFE Net Total Return Index - CAD |
| Replication Method | Other | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.35% | 1.95% |
| Meets ESG criteria | No | No |
| Inception Date | April 10, 2013 | February 10, 2014 |
Frequently asked questions about XEF and ZEA
Which ETF has performed better year to date: XEF or ZEA?
As of October 21, 2026, XEF has returned 12.81% year to date, while ZEA has returned 12.68%. XEF is ahead on YTD performance.
Which ETF is larger by assets under management: XEF or ZEA?
As of October 21, 2026, XEF manages $24.28 B in assets, while ZEA manages $13.81 B. XEF is the larger fund by AUM.
How are XEF and ZEA managed?
XEF is passively managed by iShares. It tracks the MSCI EAFE IMI Net Total Return Index - CAD benchmark. ZEA is passively managed by BMO. It tracks the MSCI EAFE Net Total Return Index - CAD benchmark.
What sectors do XEF and ZEA emphasize?
XEF is most exposed to Finance, Industrials, and Technology. ZEA is most exposed to Finance, Industrials, and Technology.
Which ETF is attracting more investor flows: XEF or ZEA?
Year to date, XEF has seen +$5,833.74 M in net flows, compared with +$1,294.27 M for ZEA. XEF has attracted more net investor money so far.
How do the fees of XEF and ZEA compare?
XEF has an expense ratio of 0.22%, while ZEA has an expense ratio of 0.22%.
What are the top holdings of XEF and ZEA?
XEF's largest holdings include ASML Holding NV, HSBC Holdings Plc, and Roche Holding AG. ZEA's top holdings include ASML Holding NV, HSBC Holdings Plc, and Roche Holding AG.
Which ETF is more diversified: XEF or ZEA?
XEF holds 2626 securities, while ZEA holds 2608. On holdings count, XEF is the more diversified portfolio.
Recent articles about XEF and ZEA
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