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Compare BMO S&P/TSX Capped Composite Index ETF (ZCN) vs Mackenzie Canadian Equity Index ETF (QCN) to find the best fit for your portfolio. ZCN and QCN provide the same top sector exposures: Finance, Non-Energy Materials, and Energy. When evaluating costs, ZCN features a management fee (MER) of 0.05%, compared to 0.04% for QCN. Performance-wise, ZCN has returned 14.28% year-to-date with +$3 B in net flows, whereas QCN is at 16.6% with +$1 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
ZCN
QCN
| AuM | $18,675.34 M | $6,461.78 M |
| Management Fees | 0.05% | 0.04% |
| Exp. ratio | 0.06% | 0.04% |
| Tracking Difference | -0.09% | -0.11% |
Historical performance and flows
As of November 4, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZCN | +0.39% | -0.99% | +14.28% | +20.85% | +95.04% |
QCN | +2.45% | +2.03% | +16.60% | +24.82% | +99.35% | |
| Flows | ZCN | +$363 M | +$985 M | +$3,418 M | +$3,495 M | +$5,334 M |
QCN | +$209 M | +$554 M | +$1,227 M | +$1,734 M | +$3,575 M |
ZCN vs QCN exposure
Countries
ZCN
Canada
96.85%
QCN
Canada
97.43%
Sectors
ZCN
Finance
41.35%
Non-Energy Materials
18.49%
Energy
16.07%
Industrials
8.04%
Other
16.06%
QCN
Finance
41.50%
Non-Energy Materials
18.62%
Energy
16.25%
Industrials
7.74%
Other
15.90%
As of November 4, 2026
Top 10 Holdings
ZCN
Royal Bank of Canada
7.79%
The Toronto-Dominion Bank
5.50%
Shopify, Inc.
5.03%
Bank of Montreal
3.34%
The Bank of Nova Scotia
3.17%
Enbridge, Inc.
2.92%
Canadian Imperial Bank of Commerce
2.87%
Canadian Natural Resources Ltd.
2.73%
Agnico Eagle Mines Ltd.
2.65%
Suncor Energy, Inc.
2.22%
QCN
Royal Bank of Canada
7.72%
The Toronto-Dominion Bank
5.46%
Shopify, Inc.
4.92%
Bank of Montreal
3.33%
The Bank of Nova Scotia
3.17%
Canadian Imperial Bank of Commerce
2.88%
Enbridge, Inc.
2.87%
Canadian Natural Resources Ltd.
2.70%
Agnico Eagle Mines Ltd.
2.63%
Suncor Energy, Inc.
2.26%
Diversification
ZCN
Total weight of top 10 holdings out of 216 total
38.22%
QCN
Total weight of top 10 holdings out of 327 total
37.95%
Characteristics
Compare
ZCN
QCN
| Provider | BMO | Mackenzie Investments |
| Management | Passively managed | Passively managed |
| Benchmark | S&P/TSX Capped Composite Total Return Index - CAD | Solactive Canada Broad Market Index NTR - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.02% | 1.92% |
| Meets ESG criteria | No | No |
| Inception Date | May 29, 2009 | January 24, 2018 |
Frequently asked questions about ZCN and QCN
Which ETF has performed better year to date: ZCN or QCN?
As of November 4, 2026, ZCN has returned 14.28% year to date, while QCN has returned 16.60%. QCN is ahead on YTD performance.
Which ETF is larger by assets under management: ZCN or QCN?
As of November 4, 2026, ZCN manages $18.68 B in assets, while QCN manages $6.46 B. ZCN is the larger fund by AUM.
How are ZCN and QCN managed?
ZCN is passively managed by BMO. It tracks the S&P/TSX Capped Composite Total Return Index - CAD benchmark. QCN is passively managed by Mackenzie Investments. It tracks the Solactive Canada Broad Market Index NTR - CAD benchmark.
What sectors do ZCN and QCN emphasize?
ZCN is most exposed to Finance, Non-Energy Materials, and Energy. QCN is most exposed to Finance, Non-Energy Materials, and Energy.
Which ETF is attracting more investor flows: ZCN or QCN?
Year to date, ZCN has seen +$3,418.04 M in net flows, compared with +$1,227.17 M for QCN. ZCN has attracted more net investor money so far.
How do the fees of ZCN and QCN compare?
ZCN has an expense ratio of 0.06%, while QCN has an expense ratio of 0.04%.
What are the top holdings of ZCN and QCN?
ZCN's largest holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and Shopify, Inc.. QCN's top holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and Shopify, Inc..
Which ETF is more diversified: ZCN or QCN?
ZCN holds 216 securities, while QCN holds 323. On holdings count, QCN is the more diversified portfolio.
Recent articles about ZCN and QCN
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