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iShares MSCI EAFE Minimum Volatility Index ETF (XMI) and BMO Low Volatility International Equity ETF (ZLD) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XMI focuses its top 3 sector exposures on Finance, Consumer Non-Cyclicals, and Industrials, while ZLD leans towards Finance, Consumer Non-Cyclicals, and Telecommunications. When evaluating costs, XMI features a management fee (MER) of 0.35%, compared to 0.4% for ZLD. Performance-wise, XMI has returned 14.71% year-to-date with -$14 M in net flows, whereas ZLD is at 9.69% with +$3 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
XMI
ZLD
| AuM | $185.40 M | $35.94 M |
| Management Fees | 0.35% | 0.40% |
| Exp. ratio | 0.38% | 0.45% |
| Tracking Difference | - | - |
Historical performance and flows
As of October 16, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XMI | +2.72% | +5.47% | +14.71% | +15.30% | +62.30% |
ZLD | +2.41% | +3.90% | +9.69% | +9.13% | +42.23% | |
| Flows | XMI | +$0 M | +$0 M | -$14 M | -$14 M | -$12 M |
ZLD | +$0 M | +$2 M | +$3 M | +$3 M | +$4 M |
XMI vs ZLD exposure
Countries
XMI
Japan
27.94%
Switzerland
10.38%
United Kingdom
9.46%
Other
52.22%
ZLD
Japan
25.52%
United Kingdom
13.99%
France
9.61%
Netherlands
9.32%
Germany
8.82%
Other
32.75%
Sectors
XMI
Finance
23.67%
Consumer Non-Cyclicals
13.43%
Industrials
10.56%
Healthcare
10.51%
Energy
8.98%
Telecommunications
8.58%
Other
24.27%
ZLD
Finance
22.80%
Consumer Non-Cyclicals
10.75%
Telecommunications
10.72%
Utilities
10.54%
Industrials
10.21%
Technology
9.94%
Other
25.03%
As of October 16, 2026
Top 10 Holdings
XMI
DBS Group Holdings Ltd.
1.51%
Iberdrola SA
1.48%
Equinor ASA
1.47%
Takeda Pharmaceutical Co., Ltd.
1.46%
Shell Plc
1.44%
SECOM Co., Ltd.
1.43%
Eni SpA
1.40%
TotalEnergies SE
1.36%
Novartis AG
1.35%
Oversea-Chinese Banking Corp. Ltd.
1.34%
ZLD
Euronext NV
2.35%
Orange SA
2.01%
Deutsche Börse AG
1.96%
Japan Post Holdings Co., Ltd.
1.59%
London Stock Exchange Group Plc
1.57%
SoftBank Corp.
1.55%
Nitori Holdings Co., Ltd.
1.54%
Insurance Australia Group Ltd.
1.49%
SECOM Co., Ltd.
1.45%
Kao Corp.
1.44%
Diversification
XMI
Total weight of top 10 holdings out of 266 total
14.24%
ZLD
Total weight of top 10 holdings out of 104 total
16.94%
Characteristics
Compare
XMI
ZLD
| Provider | iShares | BMO |
| Management | Passively managed | Actively managed |
| Benchmark | MSCI EAFE Minimum Volatility Net Total Return Index - USD | - |
| Replication Method | Other | - |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.49% | 2.13% |
| Meets ESG criteria | No | No |
| Inception Date | July 24, 2012 | February 10, 2016 |
Frequently asked questions about XMI and ZLD
Which ETF has performed better year to date: XMI or ZLD?
As of October 16, 2026, XMI has returned 14.71% year to date, while ZLD has returned 9.69%. XMI is ahead on YTD performance.
Which ETF is larger by assets under management: XMI or ZLD?
As of October 16, 2026, XMI manages $185.40 M in assets, while ZLD manages $35.94 M. XMI is the larger fund by AUM.
How are XMI and ZLD managed?
XMI is passively managed by iShares. It tracks the MSCI EAFE Minimum Volatility Net Total Return Index - USD benchmark. ZLD is actively managed by BMO. It does not track an index.
What sectors do XMI and ZLD emphasize?
XMI is most exposed to Finance, Consumer Non-Cyclicals, and Industrials. ZLD is most exposed to Finance, Consumer Non-Cyclicals, and Telecommunications.
Which ETF is attracting more investor flows: XMI or ZLD?
Year to date, XMI has seen -$13.73 M in net flows, compared with +$3.10 M for ZLD. ZLD has attracted more net investor money so far.
How do the fees of XMI and ZLD compare?
XMI has an expense ratio of 0.38%, while ZLD has an expense ratio of 0.45%.
What are the top holdings of XMI and ZLD?
XMI's largest holdings include DBS Group Holdings Ltd., Iberdrola SA, and Equinor ASA. ZLD's top holdings include Euronext NV, Orange SA, and Deutsche Börse AG.
Which ETF is more diversified: XMI or ZLD?
XMI holds 263 securities, while ZLD holds 104. On holdings count, XMI is the more diversified portfolio.
Recent articles about XMI and ZLD
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