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Compare iShares S&P/TSX Capped Materials Index ETF (XMA) vs BMO Equal Weight Utilities Index ETF (ZUT) to find the best fit for your portfolio. XMA provides Non-Energy Materials and Business Services exposures, while ZUT is primarily weighted in Utilities, Energy, and Industrials. When evaluating costs, XMA features a management fee (MER) of 0.55%, compared to 0.55% for ZUT. Performance-wise, XMA has returned 3.43% year-to-date with +$279 M in net flows, whereas ZUT is at 16.63% with -$71 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
XMA
ZUT
| AuM | $673.99 M | $864.19 M |
| Management Fees | 0.55% | 0.55% |
| Exp. ratio | 0.61% | 0.61% |
| Tracking Difference | 0.43% | -0.73% |
Historical performance and flows
As of October 28, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XMA | -6.93% | +8.51% | +3.43% | +23.24% | +158.05% |
ZUT | +4.39% | -4.62% | +16.63% | +9.80% | +76.45% | |
| Flows | XMA | -$5 M | +$53 M | +$279 M | +$292 M | +$350 M |
ZUT | -$16 M | +$51 M | -$71 M | +$5 M | +$259 M |
XMA vs ZUT exposure
Countries
XMA
Canada
97.93%
ZUT
Canada
82.83%
Bermuda
17.17%
Sectors
XMA
Non-Energy Materials
98.57%
ZUT
Utilities
82.26%
Energy
9.30%
Industrials
8.44%
As of October 28, 2026
Top 10 Holdings
XMA
Agnico Eagle Mines Ltd.
14.50%
Barrick Mining Corp.
10.56%
Wheaton Precious Metals Corp.
9.62%
Franco-Nevada Corp.
7.13%
Kinross Gold Corp.
5.13%
Nutrien Ltd.
5.10%
Teck Resources Limited
4.30%
First Quantum Minerals Ltd.
3.16%
Pan American Silver Corp.
3.08%
Lundin Mining Corp.
2.54%
ZUT
AltaGas Ltd.
9.30%
ATCO Ltd.
9.15%
Canadian Utilities Ltd.
8.78%
Brookfield Renewable Partners LP
8.73%
Capital Power Corp.
8.69%
Brookfield Infrastructure Partners LP
8.44%
Northland Power, Inc.
8.00%
TransAlta Corp.
7.98%
Emera, Inc.
7.97%
Fortis, Inc.
7.90%
Diversification
XMA
Total weight of top 10 holdings out of 59 total
65.12%
ZUT
Total weight of top 10 holdings out of 12 total
84.93%
Characteristics
Compare
XMA
ZUT
| Provider | iShares | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | S&P/TSX Capped Materials Index - CAD | Solactive Equal Weight Canada Utilities Total Return Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 0.52% | 2.84% |
| Meets ESG criteria | No | No |
| Inception Date | December 19, 2005 | January 19, 2010 |
Frequently asked questions about XMA and ZUT
Which ETF has performed better year to date: XMA or ZUT?
As of October 28, 2026, XMA has returned 3.43% year to date, while ZUT has returned 16.63%. ZUT is ahead on YTD performance.
Which ETF is larger by assets under management: XMA or ZUT?
As of October 28, 2026, XMA manages $673.99 M in assets, while ZUT manages $864.19 M. ZUT is the larger fund by AUM.
How are XMA and ZUT managed?
XMA is passively managed by iShares. It tracks the S&P/TSX Capped Materials Index - CAD benchmark. ZUT is passively managed by BMO. It tracks the Solactive Equal Weight Canada Utilities Total Return Index - CAD benchmark.
What sectors do XMA and ZUT emphasize?
XMA is most exposed to Non-Energy Materials and Business Services. ZUT is most exposed to Utilities, Energy, and Industrials.
Which ETF is attracting more investor flows: XMA or ZUT?
Year to date, XMA has seen +$278.83 M in net flows, compared with -$71.39 M for ZUT. XMA has attracted more net investor money so far.
How do the fees of XMA and ZUT compare?
XMA has an expense ratio of 0.61%, while ZUT has an expense ratio of 0.61%.
What are the top holdings of XMA and ZUT?
XMA's largest holdings include Agnico Eagle Mines Ltd., Barrick Mining Corp., and Wheaton Precious Metals Corp.. ZUT's top holdings include AltaGas Ltd., ATCO Ltd., and Canadian Utilities Ltd..
Which ETF is more diversified: XMA or ZUT?
XMA holds 59 securities, while ZUT holds 12. On holdings count, XMA is the more diversified portfolio.
Recent articles about XMA and ZUT
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