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Compare iShares MSCI Emerging Markets Index ETF (XEM) vs BMO MSCI Emerging Markets Index ETF (ZEM) to find the best fit for your portfolio. XEM and ZEM provide the same top sector exposures: Information Technology, Financials, and Consumer Discretionary. When evaluating costs, XEM features a management fee (MER) of 0.82%, compared to 0.25% for ZEM. Performance-wise, XEM has returned 26.36% year-to-date with +$142 M in net flows, whereas ZEM is at 25.89% with +$804 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
XEM
ZEM
| AuM | $451.73 M | $3,504.48 M |
| Management Fees | 0.82% | 0.25% |
| Exp. ratio | 0.83% | 0.27% |
| Tracking Difference | - | 0.57% |
Historical performance and flows
As of June 12, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XEM | +5.06% | +22.20% | +26.36% | +48.33% | +87.30% |
ZEM | +4.26% | +19.97% | +25.89% | +49.58% | +89.10% | |
| Flows | XEM | +$4 M | +$72 M | +$142 M | +$129 M | +$54 M |
ZEM | -$146 M | +$130 M | +$804 M | +$1,155 M | +$904 M |
XEM vs ZEM exposure
Countries
XEM
Taiwan
24.39%
Republic of Korea
18.63%
India
11.98%
Cayman Islands
11.63%
China
10.12%
Other
23.26%
ZEM
Taiwan
24.40%
Republic of Korea
18.64%
India
11.98%
Cayman Islands
11.64%
China
10.13%
Other
23.21%
Sectors
XEM
Information Technology
36.76%
Financials
18.45%
Consumer Discretionary
8.74%
Other
36.05%
ZEM
Information Technology
36.78%
Financials
18.46%
Consumer Discretionary
8.75%
Other
36.01%
As of June 12, 2026
Top 10 Holdings
XEM
TWN SEMICONT MAN
14.17%
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%
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
XEM
Total weight of top 10 holdings out of 1,211 total
34.54%
ZEM
Total weight of top 10 holdings out of 1,211 total
34.56%
Characteristics
Compare
XEM
ZEM
| Provider | iShares | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | MSCI Emerging Markets 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 | 1.51% | 1.78% |
| Meets ESG criteria | No | No |
| Inception Date | June 18, 2009 | October 20, 2009 |
Frequently asked questions about XEM and ZEM
Which ETF has performed better year to date: XEM or ZEM?
As of June 12, 2026, XEM has returned 26.36% year to date, while ZEM has returned 25.89%. XEM is ahead on YTD performance.
Which ETF is larger by assets under management: XEM or ZEM?
As of June 12, 2026, XEM manages $451.73 M in assets, while ZEM manages $3.50 B. ZEM is the larger fund by AUM.
How are XEM and ZEM managed?
XEM is passively managed by iShares. It tracks the MSCI Emerging Markets Index - USD benchmark. ZEM is passively managed by BMO. It tracks the MSCI Emerging Markets Net Total Return Index - CAD benchmark.
What sectors do XEM and ZEM emphasize?
XEM 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: XEM or ZEM?
Year to date, XEM has seen +$142.03 M in net flows, compared with +$804.29 M for ZEM. ZEM has attracted more net investor money so far.
How do the fees of XEM and ZEM compare?
XEM has an expense ratio of 0.83%, while ZEM has an expense ratio of 0.27%.
What are the top holdings of XEM and ZEM?
XEM'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: XEM or ZEM?
XEM holds 1095 securities, while ZEM holds 1095. On holdings count, XEM is the more diversified portfolio.
Recent articles about XEM and ZEM
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