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iShares U.S. Small Cap Index ETF (XSU) and BMO S&P US Small Cap Index ETF (ZSML) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XSU focuses its top 3 sector exposures on Finance, Healthcare, and Technology, while ZSML leans towards Finance, Industrials, and Technology. When evaluating costs, XSU features a management fee (MER) of 0.35%, compared to 0.2% for ZSML. Performance-wise, XSU has returned 18.44% year-to-date with -$89 M in net flows, whereas ZSML is at 20.71% with +$74 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
XSU
ZSML
| AuM | $698.51 M | $189.45 M |
| Management Fees | 0.35% | 0.20% |
| Exp. ratio | 0.36% | 0.22% |
| Tracking Difference | -0.46% | - |
Historical performance and flows
As of September 8, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XSU | -1.89% | +3.65% | +18.44% | +22.35% | +56.81% |
ZSML | -3.71% | +3.01% | +20.71% | +22.22% | +55.05% | |
| Flows | XSU | -$28 M | -$42 M | -$89 M | -$76 M | -$11 M |
ZSML | -$0 M | +$62 M | +$74 M | +$74 M | +$62 M |
XSU vs ZSML exposure
Countries
XSU
USA
94.24%
ZSML
USA
97.81%
Sectors
XSU
Finance
26.41%
Healthcare
19.94%
Technology
11.66%
Industrials
10.40%
Other
31.58%
ZSML
Finance
26.74%
Industrials
12.76%
Technology
12.62%
Healthcare
10.85%
Consumer Cyclicals
8.11%
Other
28.93%
As of September 8, 2026
Top 10 Holdings
XSU
BlackRock Cash Funds - Treasury
0.45%
Moog, Inc.
0.38%
BrightSpring Health Services, Inc.
0.38%
Hut 8 Corp.
0.35%
UMB Financial Corp.
0.34%
Cytokinetics, Inc.
0.34%
ViaSat, Inc.
0.31%
Glaukos Corp.
0.31%
Krystal Biotech, Inc.
0.30%
CareTrust REIT, Inc.
0.30%
ZSML
Corcept Therapeutics, Inc.
0.63%
ViaSat, Inc.
0.59%
Glaukos Corp.
0.55%
Match Group, Inc.
0.51%
Brinker International, Inc.
0.51%
Jackson Financial, Inc.
0.48%
Protagonist Therapeutics, Inc.
0.47%
Ryman Hospitality Properties, Inc.
0.47%
CarMax, Inc.
0.47%
Alkermes Plc
0.47%
Diversification
XSU
Total weight of top 10 holdings out of 1,957 total
3.46%
ZSML
Total weight of top 10 holdings out of 602 total
5.14%
Characteristics
Compare
XSU
ZSML
| Provider | iShares | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | Russell 2000 CAD Hedged NTR Index - CAD | S&P SmallCap 600 Index - USD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 0.76% | 1.01% |
| Meets ESG criteria | No | No |
| Inception Date | May 14, 2007 | February 11, 2020 |
Frequently asked questions about XSU and ZSML
Which ETF has performed better year to date: XSU or ZSML?
As of September 8, 2026, XSU has returned 18.44% year to date, while ZSML has returned 20.71%. ZSML is ahead on YTD performance.
Which ETF is larger by assets under management: XSU or ZSML?
As of September 8, 2026, XSU manages $698.51 M in assets, while ZSML manages $189.45 M. XSU is the larger fund by AUM.
How are XSU and ZSML managed?
XSU is passively managed by iShares. It tracks the Russell 2000 CAD Hedged NTR Index - CAD benchmark. ZSML is passively managed by BMO. It tracks the S&P SmallCap 600 Index - USD benchmark.
What sectors do XSU and ZSML emphasize?
XSU is most exposed to Finance, Healthcare, and Technology. ZSML is most exposed to Finance, Industrials, and Technology.
Which ETF is attracting more investor flows: XSU or ZSML?
Year to date, XSU has seen -$89.37 M in net flows, compared with +$74.20 M for ZSML. ZSML has attracted more net investor money so far.
How do the fees of XSU and ZSML compare?
XSU has an expense ratio of 0.36%, while ZSML has an expense ratio of 0.22%.
What are the top holdings of XSU and ZSML?
XSU's largest holdings include BlackRock Cash Funds - Treasury, Moog, Inc., and BrightSpring Health Services, Inc.. ZSML's top holdings include Corcept Therapeutics, Inc., ViaSat, Inc., and Glaukos Corp..
Which ETF is more diversified: XSU or ZSML?
XSU holds 1945 securities, while ZSML holds 600. On holdings count, XSU is the more diversified portfolio.
Recent articles about XSU and ZSML
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