VS
iShares MSCI USA Minimum Volatility Index ETF (XMU) and BMO US Dividend ETF (ZDY) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XMU focuses its top 3 sector exposures on Technology, Finance, and Healthcare, while ZDY leans towards Technology, Finance, and Healthcare. When evaluating costs, XMU features a management fee (MER) of 0.3%, compared to 0.3% for ZDY. Performance-wise, XMU has returned 7.45% year-to-date with -$41 M in net flows, whereas ZDY is at 18.86% with +$82 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
XMU
ZDY
| AuM | $358.58 M | $902.25 M |
| Management Fees | 0.30% | 0.30% |
| Exp. ratio | 0.33% | 0.33% |
| Tracking Difference | -0.11% | - |
Historical performance and flows
As of September 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XMU | -1.58% | +3.27% | +7.45% | +6.34% | +39.89% |
ZDY | -0.07% | +1.83% | +18.86% | +21.89% | +68.11% | |
| Flows | XMU | +$5 M | +$21 M | -$41 M | -$43 M | -$106 M |
ZDY | +$6 M | +$23 M | +$82 M | +$77 M | +$176 M |
XMU vs ZDY exposure
Countries
XMU
USA
93.25%
ZDY
USA
98.11%
Sectors
XMU
Technology
29.58%
Finance
14.51%
Healthcare
13.49%
Consumer Non-Cyclicals
11.04%
Other
31.38%
ZDY
Technology
31.75%
Finance
16.41%
Healthcare
11.06%
Consumer Non-Cyclicals
10.29%
Energy
8.35%
Other
22.15%
As of September 11, 2026
Top 10 Holdings
XMU
Microsoft Corp.
1.58%
Welltower, Inc.
1.58%
Amphenol Corp.
1.57%
Chubb Ltd.
1.54%
Johnson & Johnson
1.54%
Vertex Pharmaceuticals, Inc.
1.47%
Berkshire Hathaway, Inc.
1.47%
Duke Energy Corp.
1.46%
The Southern Co.
1.44%
Cisco Systems, Inc.
1.43%
ZDY
Apple, Inc.
3.89%
Cisco Systems, Inc.
3.76%
Dell Technologies, Inc.
3.68%
AbbVie, Inc.
3.64%
Broadcom Inc.
3.03%
Philip Morris International, Inc.
2.98%
NVIDIA Corp.
2.66%
Chevron Corp.
2.54%
JPMorgan Chase & Co.
2.35%
QUALCOMM, Inc.
2.28%
Diversification
XMU
Total weight of top 10 holdings out of 165 total
15.08%
ZDY
Total weight of top 10 holdings out of 98 total
30.83%
Characteristics
Compare
XMU
ZDY
| Provider | iShares | BMO |
| Management | Passively managed | Actively managed |
| Benchmark | MSCI USA Minimum Volatility Net Total Return Index - CAD | - |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.12% | 1.49% |
| Meets ESG criteria | No | No |
| Inception Date | July 24, 2012 | March 27, 2013 |
Frequently asked questions about XMU and ZDY
Which ETF has performed better year to date: XMU or ZDY?
As of September 11, 2026, XMU has returned 7.45% year to date, while ZDY has returned 18.86%. ZDY is ahead on YTD performance.
Which ETF is larger by assets under management: XMU or ZDY?
As of September 11, 2026, XMU manages $358.58 M in assets, while ZDY manages $902.25 M. ZDY is the larger fund by AUM.
How are XMU and ZDY managed?
XMU is passively managed by iShares. It tracks the MSCI USA Minimum Volatility Net Total Return Index - CAD benchmark. ZDY is actively managed by BMO. It does not track an index.
What sectors do XMU and ZDY emphasize?
XMU is most exposed to Technology, Finance, and Healthcare. ZDY is most exposed to Technology, Finance, and Healthcare.
Which ETF is attracting more investor flows: XMU or ZDY?
Year to date, XMU has seen -$41.02 M in net flows, compared with +$82.04 M for ZDY. ZDY has attracted more net investor money so far.
How do the fees of XMU and ZDY compare?
XMU has an expense ratio of 0.33%, while ZDY has an expense ratio of 0.33%.
What are the top holdings of XMU and ZDY?
XMU's largest holdings include Microsoft Corp., Welltower, Inc., and Amphenol Corp.. ZDY's top holdings include Apple, Inc., Cisco Systems, Inc., and Dell Technologies, Inc..
Which ETF is more diversified: XMU or ZDY?
XMU holds 165 securities, while ZDY holds 98. On holdings count, XMU is the more diversified portfolio.
Recent articles about XMU and ZDY
The ETF Market Canada is brought to you by Cboe in partnership with Trackinsight SA who is providing all the data, analysis and editorial content on this site. Unless explicitly stated as such, any information that you receive is not real-time.
All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.
All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.