VS
BMO Balanced ETF (ZBAL) and iShares Core S&P/TSX Capped Composite Index ETF (XIC) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZBAL focuses its top 3 sector exposures on Technology, Finance, and Sovereign, while XIC leans towards Finance, Energy, and Non-Energy Materials. When evaluating costs, ZBAL features a management fee (MER) of 0.18%, compared to 0.05% for XIC. Performance-wise, ZBAL has returned 7.63% year-to-date with +$161 M in net flows, whereas XIC is at 12.5% with +$7 B. 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
ZBAL
XIC
| AuM | $636.43 M | $31,310.89 M |
| Management Fees | 0.18% | 0.05% |
| Exp. ratio | 0.20% | 0.06% |
| Tracking Difference | - | -0.10% |
Historical performance and flows
As of July 17, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZBAL | -0.67% | +3.19% | +7.63% | +16.20% | +47.71% |
XIC | +0.59% | +3.22% | +12.50% | +31.70% | +89.28% | |
| Flows | ZBAL | +$26 M | +$85 M | +$161 M | +$213 M | +$383 M |
XIC | +$820 M | +$1,912 M | +$6,530 M | +$7,821 M | +$12,618 M |
ZBAL vs XIC exposure
Countries
ZBAL
Canada
42.46%
USA
35.99%
Other
21.55%
XIC
Canada
96.25%
Sectors
ZBAL
Technology
17.29%
Finance
14.18%
Sovereign
13.31%
Municipal
8.89%
Other
46.33%
XIC
Finance
42.08%
Energy
16.27%
Non-Energy Materials
15.91%
Industrials
8.25%
Other
17.49%
As of July 17, 2026
Top 10 Holdings
ZBAL
Canada, Bond 0.5 1oct2030 10Y
5.12%
NVIDIA Corp.
2.02%
CMHC, 1.9% 15mar2031, CAD (100)
1.92%
Apple, Inc.
1.77%
Province of Quebec, 1.5% 1sep2031, CAD (B128)
1.52%
Province of Ontario, 2.65% 2dec2050, CAD (DMTN242)
1.47%
Canada, Bonds 2.25% 1dec2029, CAD
1.44%
Province of Ontario, 2.05% 2jun2030, CAD (DMTN243)
1.41%
Sun Life Financial, 2.06% 1oct2035, CAD (2020-2)
1.39%
Royal Bank of Canada
1.22%
XIC
Royal Bank of Canada
8.22%
The Toronto-Dominion Bank
5.77%
Shopify, Inc.
3.97%
Bank of Montreal
3.52%
Enbridge, Inc.
3.36%
The Bank of Nova Scotia
3.04%
Canadian Imperial Bank of Commerce
3.01%
Brookfield Corp.
2.59%
Canadian Natural Resources Ltd.
2.35%
Agnico Eagle Mines Ltd.
2.25%
Diversification
ZBAL
Total weight of top 10 holdings out of 19,849 total
19.28%
XIC
Total weight of top 10 holdings out of 221 total
38.08%
Characteristics
Compare
ZBAL
XIC
| Provider | BMO | iShares |
| Management | Actively managed | Passively managed |
| Benchmark | - | S&P/TSX Capped Composite Total Return Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity, Fixed Income | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.66% | 2.00% |
| Meets ESG criteria | No | No |
| Inception Date | February 15, 2019 | February 16, 2001 |
Frequently asked questions about ZBAL and XIC
Which ETF has performed better year to date: ZBAL or XIC?
As of July 17, 2026, ZBAL has returned 7.63% year to date, while XIC has returned 12.50%. XIC is ahead on YTD performance.
Which ETF is larger by assets under management: ZBAL or XIC?
As of July 17, 2026, ZBAL manages $636.43 M in assets, while XIC manages $31.31 B. XIC is the larger fund by AUM.
How are ZBAL and XIC managed?
ZBAL is actively managed by BMO. It does not track an index. XIC is passively managed by iShares. It tracks the S&P/TSX Capped Composite Total Return Index - CAD benchmark.
What sectors do ZBAL and XIC emphasize?
ZBAL is most exposed to Technology, Finance, and Sovereign. XIC is most exposed to Finance, Energy, and Non-Energy Materials.
Which ETF is attracting more investor flows: ZBAL or XIC?
Year to date, ZBAL has seen +$160.56 M in net flows, compared with +$6,530.40 M for XIC. XIC has attracted more net investor money so far.
How do the fees of ZBAL and XIC compare?
ZBAL has an expense ratio of 0.20%, while XIC has an expense ratio of 0.06%.
What are the top holdings of ZBAL and XIC?
ZBAL's largest holdings include Canada, Bond 0.5 1oct2030 10Y and NVIDIA Corp.. XIC's top holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and Shopify, Inc..
Which ETF is more diversified: ZBAL or XIC?
ZBAL holds 10678 securities, while XIC holds 219. On holdings count, ZBAL is the more diversified portfolio.
Recent articles about ZBAL and XIC
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