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iShares Edge MSCI Min Vol Global Index ETF (XMW) and BMO Low Volatility Canadian Equity ETF (ZLB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XMW focuses its top 3 sector exposures on Technology, Finance, and Healthcare, while ZLB leans towards Finance, Consumer Non-Cyclicals, and Utilities. When evaluating costs, XMW features a management fee (MER) of 0.45%, compared to 0.35% for ZLB. Performance-wise, XMW has returned 7.95% year-to-date with -$21 M in net flows, whereas ZLB is at 3.86% with +$206 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
XMW
ZLB
| AuM | $175.35 M | $6,051.31 M |
| Management Fees | 0.45% | 0.35% |
| Exp. ratio | 0.48% | 0.39% |
| Tracking Difference | -0.52% | - |
Historical performance and flows
As of September 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XMW | -0.68% | +3.08% | +7.95% | +5.87% | +38.20% |
ZLB | -2.97% | -1.61% | +3.86% | +9.55% | +57.92% | |
| Flows | XMW | +$0 M | -$6 M | -$21 M | -$44 M | -$43 M |
ZLB | +$0 M | +$59 M | +$206 M | +$322 M | +$1,270 M |
XMW vs ZLB exposure
Countries
XMW
USA
55.95%
Japan
9.99%
Other
34.06%
ZLB
Canada
95.90%
Sectors
XMW
Technology
23.71%
Finance
14.26%
Healthcare
13.81%
Consumer Non-Cyclicals
10.73%
Telecommunications
9.99%
Utilities
7.16%
Other
20.34%
ZLB
Finance
31.83%
Consumer Non-Cyclicals
18.94%
Utilities
17.56%
Telecommunications
8.67%
Other
22.99%
As of September 11, 2026
Top 10 Holdings
XMW
Johnson & Johnson
1.56%
Cisco Systems, Inc.
1.43%
Duke Energy Corp.
1.21%
Motorola Solutions, Inc.
1.20%
Microsoft Corp.
1.17%
Cencora, Inc.
1.13%
KDDI Corp.
1.10%
Taiwan Semiconductor Manufacturing Co., Ltd.
1.10%
Berkshire Hathaway, Inc.
1.08%
The Southern Co.
1.08%
ZLB
Fortis, Inc.
4.37%
Great-West Lifeco, Inc.
4.37%
Quebecor, Inc.
4.02%
Hydro One Ltd.
3.98%
Loblaw Cos. Ltd.
3.98%
Emera, Inc.
3.71%
Empire Co. Ltd.
3.61%
Intact Financial Corp.
3.33%
Metro, Inc.
3.26%
Canadian Utilities Ltd.
3.21%
Diversification
XMW
Total weight of top 10 holdings out of 379 total
12.06%
ZLB
Total weight of top 10 holdings out of 51 total
37.82%
Characteristics
Compare
XMW
ZLB
| Provider | iShares | BMO |
| Management | Passively managed | Actively managed |
| Benchmark | MSCI ACWI Minimum Volatility Net Total Return Index - CAD | - |
| Replication Method | ||
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.41% | 1.88% |
| Meets ESG criteria | No | No |
| Inception Date | July 24, 2012 | October 27, 2011 |
Frequently asked questions about XMW and ZLB
Which ETF has performed better year to date: XMW or ZLB?
As of September 11, 2026, XMW has returned 7.95% year to date, while ZLB has returned 3.86%. XMW is ahead on YTD performance.
Which ETF is larger by assets under management: XMW or ZLB?
As of September 11, 2026, XMW manages $175.35 M in assets, while ZLB manages $6.05 B. ZLB is the larger fund by AUM.
How are XMW and ZLB managed?
XMW is passively managed by iShares. It tracks the MSCI ACWI Minimum Volatility Net Total Return Index - CAD benchmark. ZLB is actively managed by BMO. It does not track an index.
What sectors do XMW and ZLB emphasize?
XMW is most exposed to Technology, Finance, and Healthcare. ZLB is most exposed to Finance, Consumer Non-Cyclicals, and Utilities.
Which ETF is attracting more investor flows: XMW or ZLB?
Year to date, XMW has seen -$20.52 M in net flows, compared with +$205.69 M for ZLB. ZLB has attracted more net investor money so far.
How do the fees of XMW and ZLB compare?
XMW has an expense ratio of 0.48%, while ZLB has an expense ratio of 0.39%.
What are the top holdings of XMW and ZLB?
XMW's largest holdings include Johnson & Johnson, Cisco Systems, Inc., and Duke Energy Corp.. ZLB's top holdings include Fortis, Inc., Great-West Lifeco, Inc., and Quebecor, Inc..
Which ETF is more diversified: XMW or ZLB?
XMW holds 378 securities, while ZLB holds 51. On holdings count, XMW is the more diversified portfolio.
Recent articles about XMW and ZLB
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