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iShares Edge MSCI Min Vol EAFE Index ETF (XML) and BMO Low Volatility International Equity ETF (ZLD) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XML 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, XML features a management fee (MER) of 0.35%, compared to 0.4% for ZLD. Performance-wise, XML has returned 9.58% year-to-date with +$13 M in net flows, whereas ZLD is at 5.33% 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
XML
ZLD
| AuM | $51.45 M | $34.51 M |
| Management Fees | 0.35% | 0.40% |
| Exp. ratio | 0.37% | 0.45% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 29, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XML | -1.59% | +3.53% | +9.58% | +14.72% | +50.00% |
ZLD | -2.49% | +2.23% | +5.33% | +7.55% | +34.52% | |
| Flows | XML | +$0 M | +$10 M | +$13 M | +$12 M | +$12 M |
ZLD | +$0 M | -$1 M | +$3 M | +$3 M | +$2 M |
XML vs ZLD exposure
Countries
XML
Japan
27.92%
Switzerland
10.38%
United Kingdom
9.46%
Other
52.24%
ZLD
Japan
25.52%
United Kingdom
13.99%
France
9.61%
Netherlands
9.32%
Germany
8.82%
Other
32.75%
Sectors
XML
Finance
23.66%
Consumer Non-Cyclicals
13.42%
Industrials
10.56%
Healthcare
10.50%
Energy
8.98%
Telecommunications
8.57%
Other
24.31%
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 September 29, 2026
Top 10 Holdings
XML
DBS Group Holdings Ltd.
1.51%
Iberdrola SA
1.47%
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
XML
Total weight of top 10 holdings out of 266 total
14.23%
ZLD
Total weight of top 10 holdings out of 104 total
16.94%
Characteristics
Compare
XML
ZLD
| Provider | iShares | BMO |
| Management | Passively managed | Actively managed |
| Benchmark | MSCI EAFE Minimum Volatility 100% Hedged to CAD Net Total Return Index - CAD | - |
| Replication Method | ||
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.66% | 2.21% |
| Meets ESG criteria | No | No |
| Inception Date | April 5, 2016 | February 10, 2016 |
Frequently asked questions about XML and ZLD
Which ETF has performed better year to date: XML or ZLD?
As of September 29, 2026, XML has returned 9.58% year to date, while ZLD has returned 5.33%. XML is ahead on YTD performance.
Which ETF is larger by assets under management: XML or ZLD?
As of September 29, 2026, XML manages $51.45 M in assets, while ZLD manages $34.51 M. XML is the larger fund by AUM.
How are XML and ZLD managed?
XML is passively managed by iShares. It tracks the MSCI EAFE Minimum Volatility 100% Hedged to CAD Net Total Return Index - CAD benchmark. ZLD is actively managed by BMO. It does not track an index.
What sectors do XML and ZLD emphasize?
XML 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: XML or ZLD?
Year to date, XML has seen +$13.25 M in net flows, compared with +$3.10 M for ZLD. XML has attracted more net investor money so far.
How do the fees of XML and ZLD compare?
XML has an expense ratio of 0.37%, while ZLD has an expense ratio of 0.45%.
What are the top holdings of XML and ZLD?
XML'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: XML or ZLD?
XML holds 263 securities, while ZLD holds 104. On holdings count, XML is the more diversified portfolio.
Recent articles about XML and ZLD
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