BMO Balanced ETF (ZBAL) and BMO Equal Weight Utilities Index ETF (ZUT) 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 ZUT leans towards Utilities, Energy, and Industrials. When evaluating costs, ZBAL features a management fee (MER) of 0.18%, compared to 0.55% for ZUT. Performance-wise, ZBAL has returned 7.8% year-to-date with +$161 M in net flows, whereas ZUT is at 22.01% with -$126 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
ZBAL
ZUT
| AuM | $637.43 M | $852.91 M |
| Management Fees | 0.18% | 0.55% |
| Exp. ratio | 0.20% | 0.61% |
| Tracking Difference | - | -0.85% |
Historical performance and flows
As of July 17, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZBAL | -0.75% | +3.07% | +7.80% | +16.36% | +47.96% |
ZUT | +1.71% | +5.71% | +22.01% | +27.22% | +54.59% | |
| Flows | ZBAL | +$29 M | +$85 M | +$161 M | +$213 M | +$383 M |
ZUT | -$60 M | -$66 M | -$126 M | -$42 M | +$188 M |
ZBAL vs ZUT exposure
Countries
ZBAL
Canada
41.11%
USA
36.93%
Other
21.96%
ZUT
Canada
83.77%
Bermuda
16.23%
Sectors
ZBAL
Technology
18.22%
Finance
13.78%
Sovereign
12.97%
Municipal
8.86%
Other
46.17%
ZUT
Utilities
84.34%
Energy
8.20%
Industrials
7.46%
As of July 17, 2026
Top 10 Holdings
ZBAL
Canada, Bond 0.5 1oct2030 10Y
4.92%
NVIDIA Corp.
2.28%
Apple, Inc.
2.01%
CMHC, 1.9% 15mar2031, CAD (100)
1.84%
Province of Ontario, 2.65% 2dec2050, CAD (DMTN242)
1.55%
Province of Ontario, 2.05% 2jun2030, CAD (DMTN243)
1.53%
Province of Quebec, 1.5% 1sep2031, CAD (B128)
1.46%
Microsoft Corp.
1.39%
Canada, Bonds 2.25% 1dec2029, CAD
1.39%
Amazon.com, Inc.
1.18%
ZUT
Boralex, Inc.
9.57%
Brookfield Renewable Partners LP
8.77%
AltaGas Ltd.
8.20%
Capital Power Corp.
8.05%
TransAlta Corp.
7.83%
Northland Power, Inc.
7.73%
Brookfield Infrastructure Partners LP
7.46%
Canadian Utilities Ltd.
7.33%
ATCO Ltd.
7.25%
Emera, Inc.
7.16%
Diversification
ZBAL
Total weight of top 10 holdings out of 19,786 total
19.55%
ZUT
Total weight of top 10 holdings out of 13 total
79.35%
Characteristics
Compare
ZBAL
ZUT
| Provider | BMO | BMO |
| Management | Actively managed | Passively managed |
| Benchmark | - | Solactive Equal Weight Canada Utilities Total Return Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity, Fixed Income | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.66% | 2.72% |
| Meets ESG criteria | No | No |
| Inception Date | February 15, 2019 | January 19, 2010 |
Frequently asked questions about ZBAL and ZUT
Which ETF has performed better year to date: ZBAL or ZUT?
As of July 17, 2026, ZBAL has returned 7.80% year to date, while ZUT has returned 22.01%. ZUT is ahead on YTD performance.
Which ETF is larger by assets under management: ZBAL or ZUT?
As of July 17, 2026, ZBAL manages $637.43 M in assets, while ZUT manages $852.91 M. ZUT is the larger fund by AUM.
How are ZBAL and ZUT managed?
ZBAL is actively managed by BMO. It does not track an index. ZUT is passively managed by BMO. It tracks the Solactive Equal Weight Canada Utilities Total Return Index - CAD benchmark.
What sectors do ZBAL and ZUT emphasize?
ZBAL is most exposed to Technology, Finance, and Sovereign. ZUT is most exposed to Utilities, Energy, and Industrials.
Which ETF is attracting more investor flows: ZBAL or ZUT?
Year to date, ZBAL has seen +$160.56 M in net flows, compared with -$125.69 M for ZUT. ZBAL has attracted more net investor money so far.
How do the fees of ZBAL and ZUT compare?
ZBAL has an expense ratio of 0.20%, while ZUT has an expense ratio of 0.61%.
What are the top holdings of ZBAL and ZUT?
ZBAL's largest holdings include Canada, Bond 0.5 1oct2030 10Y and NVIDIA Corp.. ZUT's top holdings include Boralex, Inc., Brookfield Renewable Partners LP, and AltaGas Ltd..
Which ETF is more diversified: ZBAL or ZUT?
ZBAL holds 10719 securities, while ZUT holds 13. On holdings count, ZBAL is the more diversified portfolio.
Recent articles about ZBAL and ZUT
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