VS
iShares S&P/TSX Capped REIT Index ETF (XRE) and BMO S&P 500 Index ETF (ZSP) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XRE focuses its top 3 sector exposures on Real Estate, while ZSP leans towards Information Technology, Communication Services, and Consumer Discretionary. When evaluating costs, XRE features a management fee (MER) of 0.55%, compared to 0.08% for ZSP. Performance-wise, XRE has returned 13.32% year-to-date with -$13 M in net flows, whereas ZSP is at 12.99% with +$577 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
XRE
ZSP
| AuM | $1,172.91 M | $24,377.39 M |
| Management Fees | 0.55% | 0.08% |
| Exp. ratio | 0.60% | 0.09% |
| Tracking Difference | -0.72% | -0.22% |
Historical performance and flows
As of June 12, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XRE | +4.42% | +11.14% | +13.32% | +13.57% | +20.93% |
ZSP | +3.86% | +15.63% | +12.99% | +30.27% | +86.54% | |
| Flows | XRE | -$28 M | -$29 M | -$13 M | -$454 M | +$110 M |
ZSP | +$149 M | +$370 M | +$577 M | +$1,499 M | +$5,132 M |
XRE vs ZSP exposure
Countries
XRE
Canada
99.58%
ZSP
USA
97.06%
Sectors
XRE
Real Estate
86.51%
Other
13.49%
ZSP
Information Technology
36.41%
Communication Services
10.68%
Consumer Discretionary
10.06%
Financials
9.94%
Health Care
8.26%
Industrials
8.01%
Other
16.63%
As of June 12, 2026
Top 10 Holdings
XRE
RIOCAN REAL ESTATE UNT
11.89%
CANADIAN APARTMENT PROPER REIT UNT
10.83%
CA3874372053
10.71%
FIRST CAPITAL REIT UNT
9.56%
CHOICE PROPERTIES REAL ESTATE INVESTMENT UNITS
7.89%
DREAM INDUSTRIAL REAL ESTATE
7.57%
SMART REAL ESTATE INVESTMENT
6.99%
H&R REAL ESTATE INVESTMENT TRUST UNIT
5.44%
BOARDWALK REAL ESTATE INVESTMENT UNT
5.20%
PRIMARIS REAL ESTATE INVESTMENT TRUST UNIT
4.28%
ZSP
NVIDIA
8.33%
APPLE
6.50%
MICROSOFT-T
5.16%
AMAZON.COM INC
4.21%
ALPHABET INC-CL
3.33%
BROADCOM LIMITED
3.16%
ALPHABET INC-CL
2.67%
META PLATFORMS
2.40%
TESLA
1.72%
BERKSHIRE HATHWAY
1.44%
Diversification
XRE
Total weight of top 10 holdings out of 16 total
80.37%
ZSP
Total weight of top 10 holdings out of 502 total
38.91%
Characteristics
Compare
XRE
ZSP
| Provider | iShares | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | S&P/TSX Capped REIT Total Return Index - CAD | S&P 500 CAD Total Return Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 4.34% | 0.74% |
| Meets ESG criteria | No | No |
| Inception Date | October 17, 2002 | November 14, 2012 |
Frequently asked questions about XRE and ZSP
Which ETF has performed better year to date: XRE or ZSP?
As of June 12, 2026, XRE has returned 13.32% year to date, while ZSP has returned 12.99%. XRE is ahead on YTD performance.
Which ETF is larger by assets under management: XRE or ZSP?
As of June 12, 2026, XRE manages $1.17 B in assets, while ZSP manages $24.38 B. ZSP is the larger fund by AUM.
How are XRE and ZSP managed?
XRE is passively managed by iShares. It tracks the S&P/TSX Capped REIT Total Return Index - CAD benchmark. ZSP is passively managed by BMO. It tracks the S&P 500 CAD Total Return Index - CAD benchmark.
What sectors do XRE and ZSP emphasize?
XRE is most exposed to Real Estate. ZSP is most exposed to Information Technology, Communication Services, and Consumer Discretionary.
Which ETF is attracting more investor flows: XRE or ZSP?
Year to date, XRE has seen -$12.77 M in net flows, compared with +$577.30 M for ZSP. ZSP has attracted more net investor money so far.
How do the fees of XRE and ZSP compare?
XRE has an expense ratio of 0.60%, while ZSP has an expense ratio of 0.09%.
What are the top holdings of XRE and ZSP?
XRE's largest holdings include RIOCAN REAL ESTATE UNT and CANADIAN APARTMENT PROPER REIT UNT. ZSP's top holdings include NVIDIA, APPLE, and ALPHABET INC-CL.
Which ETF is more diversified: XRE or ZSP?
XRE holds 15 securities, while ZSP holds 477. On holdings count, ZSP is the more diversified portfolio.
Recent articles about XRE and ZSP
Build Canada Homes: A Boost for Real Estate ETFs?
The Canadian government's $26B prefab housing plan and a U.S. tariff ruling have injected optimism into real estate markets, with analysts anticipating gains for REITs and construction-focused funds.
Posted on 6/2/2025 by ETF Market Canada inReal Estate
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