VS
iShares Core S&P/TSX Composite High Dividend Index ETF (XEI) and BMO Canadian High Dividend Covered Call ETF (ZWC) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XEI focuses its top 3 sector exposures on Finance, Energy, and Utilities, while ZWC leans towards Finance, Energy, and Non-Energy Materials. When evaluating costs, XEI features a management fee (MER) of 0.2%, compared to 0.65% for ZWC. Performance-wise, XEI has returned 25.39% year-to-date with +$811 M in net flows, whereas ZWC is at 14.99% with +$321 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
XEI
ZWC
| AuM | $4,351.47 M | $2,472.55 M |
| Management Fees | 0.20% | 0.65% |
| Exp. ratio | 0.22% | 0.72% |
| Tracking Difference | -0.44% | - |
Historical performance and flows
As of September 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XEI | -0.54% | +1.41% | +25.39% | +34.96% | +90.30% |
ZWC | -0.15% | +2.78% | +14.99% | +23.86% | +67.02% | |
| Flows | XEI | +$48 M | +$199 M | +$811 M | +$1,134 M | +$1,663 M |
ZWC | +$23 M | +$113 M | +$321 M | +$367 M | +$289 M |
XEI vs ZWC exposure
Countries
XEI
Canada
92.89%
Other
7.11%
ZWC
Canada
98.15%
Sectors
XEI
Finance
36.75%
Energy
30.32%
Utilities
9.44%
Telecommunications
7.05%
Other
16.44%
ZWC
Finance
40.64%
Energy
22.76%
Non-Energy Materials
11.23%
Other
25.37%
As of September 11, 2026
Top 10 Holdings
XEI
Royal Bank of Canada
5.12%
Suncor Energy, Inc.
5.05%
The Toronto-Dominion Bank
5.04%
Canadian Natural Resources Ltd.
4.99%
Enbridge, Inc.
4.72%
TC Energy Corp.
4.54%
Bank of Montreal
4.37%
Nutrien Ltd.
4.09%
Canadian Imperial Bank of Commerce
3.80%
The Bank of Nova Scotia
3.77%
ZWC
Royal Bank of Canada
8.06%
The Toronto-Dominion Bank
6.27%
Canadian Imperial Bank of Commerce
5.85%
Canadian Natural Resources Ltd.
5.74%
The Bank of Nova Scotia
5.62%
Enbridge, Inc.
4.71%
Suncor Energy, Inc.
4.66%
TC Energy Corp.
4.03%
Bank of Montreal
3.82%
Nutrien Ltd.
3.17%
Diversification
XEI
Total weight of top 10 holdings out of 75 total
45.49%
ZWC
Total weight of top 10 holdings out of 39 total
51.92%
Characteristics
Compare
XEI
ZWC
| Provider | iShares | BMO |
| Management | Passively managed | Actively managed |
| Benchmark | S&P/TSX Composite High Dividend Total Return Index - CAD | - |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.46% | 5.80% |
| Meets ESG criteria | No | No |
| Inception Date | April 12, 2011 | February 9, 2017 |
Frequently asked questions about XEI and ZWC
Which ETF has performed better year to date: XEI or ZWC?
As of September 11, 2026, XEI has returned 25.39% year to date, while ZWC has returned 14.99%. XEI is ahead on YTD performance.
Which ETF is larger by assets under management: XEI or ZWC?
As of September 11, 2026, XEI manages $4.35 B in assets, while ZWC manages $2.47 B. XEI is the larger fund by AUM.
How are XEI and ZWC managed?
XEI is passively managed by iShares. It tracks the S&P/TSX Composite High Dividend Total Return Index - CAD benchmark. ZWC is actively managed by BMO. It does not track an index.
What sectors do XEI and ZWC emphasize?
XEI is most exposed to Finance, Energy, and Utilities. ZWC is most exposed to Finance, Energy, and Non-Energy Materials.
Which ETF is attracting more investor flows: XEI or ZWC?
Year to date, XEI has seen +$810.69 M in net flows, compared with +$320.80 M for ZWC. XEI has attracted more net investor money so far.
How do the fees of XEI and ZWC compare?
XEI has an expense ratio of 0.22%, while ZWC has an expense ratio of 0.72%.
What are the top holdings of XEI and ZWC?
XEI's largest holdings include Royal Bank of Canada, Suncor Energy, Inc., and The Toronto-Dominion Bank. ZWC's top holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and Canadian Imperial Bank of Commerce.
Which ETF is more diversified: XEI or ZWC?
XEI holds 75 securities, while ZWC holds 39. On holdings count, XEI is the more diversified portfolio.
Recent articles about XEI and ZWC
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