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iShares Core Equity ETF (XEQT) and BMO Equal Weight Banks Index ETF (ZEB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XEQT focuses its top 3 sector exposures on Technology, Finance, and Industrials, while ZEB leans towards Finance. When evaluating costs, XEQT features a management fee (MER) of 0.18%, compared to 0.25% for ZEB. Performance-wise, XEQT has returned 13.49% year-to-date with +$7 B in net flows, whereas ZEB is at 32.7% with -$13 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
XEQT
ZEB
| AuM | $20,751.37 M | $7,031.18 M |
| Management Fees | 0.18% | 0.25% |
| Exp. ratio | 0.20% | 0.28% |
| Tracking Difference | - | -0.65% |
Historical performance and flows
As of July 30, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XEQT | -0.67% | +6.42% | +13.49% | +25.19% | +76.64% |
ZEB | +0.43% | +16.10% | +32.70% | +67.40% | +146.66% | |
| Flows | XEQT | +$1,146 M | +$3,156 M | +$6,706 M | +$9,184 M | +$14,648 M |
ZEB | +$550 M | +$1,053 M | -$13 M | +$264 M | -$820 M |
XEQT vs ZEB exposure
Countries
XEQT
USA
44.97%
Canada
23.95%
Other
31.08%
ZEB
Canada
100.00%
Sectors
XEQT
Technology
25.85%
Finance
24.22%
Industrials
10.42%
Non-Energy Materials
7.44%
Other
32.06%
ZEB
Finance
100.00%
As of July 30, 2026
Top 10 Holdings
XEQT
NVIDIA Corp.
3.02%
Apple, Inc.
2.65%
Royal Bank of Canada
2.05%
Microsoft Corp.
1.72%
Amazon.com, Inc.
1.45%
The Toronto-Dominion Bank
1.44%
Alphabet, Inc.
1.30%
Broadcom Inc.
1.11%
Alphabet, Inc.
1.04%
Shopify, Inc.
0.99%
ZEB
The Toronto-Dominion Bank
17.42%
Royal Bank of Canada
17.32%
Bank of Montreal
17.15%
The Bank of Nova Scotia
16.61%
Canadian Imperial Bank of Commerce
15.79%
National Bank of Canada
15.70%
Diversification
XEQT
Total weight of top 10 holdings out of 8,337 total
16.77%
ZEB
Total weight of top 10 holdings out of 6 total
100.00%
Characteristics
Compare
XEQT
ZEB
| Provider | iShares | BMO |
| Management | Actively managed | Passively managed |
| Benchmark | - | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.60% | 2.29% |
| Meets ESG criteria | No | No |
| Inception Date | August 7, 2019 | October 20, 2009 |
Frequently asked questions about XEQT and ZEB
Which ETF has performed better year to date: XEQT or ZEB?
As of July 30, 2026, XEQT has returned 13.49% year to date, while ZEB has returned 32.70%. ZEB is ahead on YTD performance.
Which ETF is larger by assets under management: XEQT or ZEB?
As of July 30, 2026, XEQT manages $20.75 B in assets, while ZEB manages $7.03 B. XEQT is the larger fund by AUM.
How are XEQT and ZEB managed?
XEQT is actively managed by iShares. It does not track an index. ZEB is passively managed by BMO. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do XEQT and ZEB emphasize?
XEQT is most exposed to Technology, Finance, and Industrials. ZEB is most exposed to Finance.
Which ETF is attracting more investor flows: XEQT or ZEB?
Year to date, XEQT has seen +$6,706.37 M in net flows, compared with -$12.93 M for ZEB. XEQT has attracted more net investor money so far.
How do the fees of XEQT and ZEB compare?
XEQT has an expense ratio of 0.20%, while ZEB has an expense ratio of 0.28%.
What are the top holdings of XEQT and ZEB?
XEQT's largest holdings include NVIDIA Corp., Apple, Inc., and Alphabet, Inc.. ZEB's top holdings include The Toronto-Dominion Bank, Royal Bank of Canada, and Bank of Montreal.
Which ETF is more diversified: XEQT or ZEB?
XEQT holds 8205 securities, while ZEB holds 6. On holdings count, XEQT is the more diversified portfolio.
Recent articles about XEQT and ZEB
ETF Comparison: XEQT vs. VEQT
A side-by-side comparison of XEQT and VEQT, Canada's two leading all-equity portfolio ETFs.
Posted on 7/22/2026 by Kyle Anthony inEquities
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