BMO AAA CLO ETF (ZAAA) and JPMorgan Income Active ETF (JPIE) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZAAA focuses its top 3 sector exposures on Industrials, Non-Corporate, and Finance, while JPIE leans towards Industrials, Sovereign, and Energy. When evaluating costs, ZAAA features a management fee (MER) of 0.23%, compared to 0.39% for JPIE. 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
ZAAA
JPIE
| AuM | $76.12 M | $291.50 M |
| Management Fees | 0.23% | 0.39% |
| Exp. ratio | 0.23% | 0.39% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 17, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZAAA | +1.31% | +0.30% | +5.29% | +6.42% | - |
JPIE | -0.79% | -0.33% | - | - | - | |
| Flows | ZAAA | +$8 M | +$12 M | +$27 M | +$39 M | - |
JPIE | +$156 M | +$267 M | - | - | - |
ZAAA vs JPIE exposure
Countries
ZAAA
Other
78.98%
USA
21.01%
JPIE
Other
70.86%
USA
22.39%
Sectors
ZAAA
Other
78.99%
Industrials
20.90%
JPIE
Other
70.86%
Industrials
9.67%
Other
19.47%
As of September 17, 2026
Top 10 Holdings
ZAAA
US671026AW26
3.69%
US92920DAL91
3.32%
Magnetite CLO, 2026-55A, FRN 15apr2039, USD (ABS, A1)
3.32%
AIMCO CLO 2026-27A, FRN 20apr2039, USD (ABS, A1)
2.86%
Diameter Capital CLO 2022-4A, FRN 18jan2039, USD (ABS, ARR)
1.94%
AIMCO CLO 2025-23A, FRN 20apr2038, USD (ABS, A)
1.94%
CIFC Funding 2023-3A, FRN 20jan2039, USD (ABS, A1R)
1.85%
US720916AA38
1.85%
US03990NAA37
1.85%
US76676AAA88
1.66%
JPIE
US3618N6K891
2.46%
US3618N53Y33
2.18%
US3618N6K974
1.74%
US3618N56J39
1.64%
US21H0626851
1.54%
US3618N6FN22
1.47%
G2 MB1287, 6.5% 20jul2056, USD (ABS)
1.40%
FN MA5945, 5.5% 1jan2056, USD (ABS)
1.09%
FR SL3192, 6% 1nov2055, USD (ABS)
0.88%
US21H0426872
0.87%
Diversification
ZAAA
Total weight of top 10 holdings out of 1,412 total
24.28%
JPIE
Total weight of top 10 holdings out of 2,518 total
15.27%
Characteristics
Compare
ZAAA
JPIE
| Provider | BMO | J.P. Morgan Asset Management |
| Management | Actively managed | Actively managed |
| Benchmark | - | - |
| Replication Method | ||
| Asset Class | Fixed Income | Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 5.08% | - |
| Meets ESG criteria | No | No |
| Inception Date | April 30, 2025 | May 21, 2026 |
Frequently asked questions about ZAAA and JPIE
Which ETF is larger by assets under management: ZAAA or JPIE?
As of September 17, 2026, ZAAA manages $76.12 M in assets, while JPIE manages $291.50 M. JPIE is the larger fund by AUM.
How are ZAAA and JPIE managed?
ZAAA is actively managed by BMO. It does not track an index. JPIE is actively managed by J.P. Morgan Asset Management. It does not track an index.
What sectors do ZAAA and JPIE emphasize?
ZAAA is most exposed to Industrials, Non-Corporate, and Finance. JPIE is most exposed to Industrials, Sovereign, and Energy.
How do the fees of ZAAA and JPIE compare?
ZAAA has an expense ratio of 0.23%, while JPIE has an expense ratio of 0.39%.
What are the top holdings of ZAAA and JPIE?
ZAAA's largest holdings include Magnetite CLO, 2026-55A, FRN 15apr2039, USD (ABS, A1) and AIMCO CLO 2026-27A, FRN 20apr2039, USD (ABS, A1). JPIE's top holdings include G2 MB1287, 6.5% 20jul2056, USD (ABS) and FN MA5945, 5.5% 1jan2056, USD (ABS).
Which ETF is more diversified: ZAAA or JPIE?
ZAAA holds 153 securities, while JPIE holds 843. On holdings count, JPIE is the more diversified portfolio.
Recent articles about ZAAA and JPIE
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