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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, Energy, and Non-Energy Materials. When evaluating costs, ZCN features a management fee (MER) of 0.05%, compared to 0.04% for QCN. Performance-wise, ZCN has returned 15.29% year-to-date with +$3 B in net flows, whereas QCN is at 14.75% with +$978 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
ZCN
QCN
| AuM | $18,454.68 M | $6,141.88 M |
| Management Fees | 0.05% | 0.04% |
| Exp. ratio | 0.06% | 0.04% |
| Tracking Difference | -0.10% | -0.13% |
Historical performance and flows
As of September 18, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZCN | -1.48% | +3.44% | +15.29% | +22.86% | +97.10% |
QCN | -1.23% | +3.08% | +14.75% | +24.51% | +89.97% | |
| Flows | ZCN | +$243 M | +$979 M | +$2,940 M | +$3,209 M | +$4,859 M |
QCN | +$251 M | +$454 M | +$978 M | +$2,834 M | +$3,347 M |
ZCN vs QCN exposure
Countries
ZCN
Canada
96.71%
QCN
Canada
97.44%
Sectors
ZCN
Finance
41.85%
Energy
17.20%
Non-Energy Materials
15.79%
Industrials
8.16%
Other
16.99%
QCN
Finance
41.99%
Energy
17.15%
Non-Energy Materials
16.21%
Industrials
7.77%
Other
16.87%
As of September 18, 2026
Top 10 Holdings
ZCN
Royal Bank of Canada
8.11%
The Toronto-Dominion Bank
5.53%
Shopify, Inc.
4.13%
Bank of Montreal
3.46%
Enbridge, Inc.
3.34%
Canadian Imperial Bank of Commerce
3.00%
The Bank of Nova Scotia
2.98%
Canadian Natural Resources Ltd.
2.72%
Brookfield Corp.
2.48%
Suncor Energy, Inc.
2.18%
QCN
Royal Bank of Canada
8.07%
The Toronto-Dominion Bank
5.55%
Shopify, Inc.
3.97%
Bank of Montreal
3.47%
Enbridge, Inc.
3.32%
Canadian Imperial Bank of Commerce
3.01%
The Bank of Nova Scotia
2.98%
Canadian Natural Resources Ltd.
2.65%
Brookfield Corp.
2.53%
Suncor Energy, Inc.
2.18%
Diversification
ZCN
Total weight of top 10 holdings out of 219 total
37.94%
QCN
Total weight of top 10 holdings out of 329 total
37.73%
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 | 1.99% | 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 September 18, 2026, ZCN has returned 15.29% year to date, while QCN has returned 14.75%. ZCN is ahead on YTD performance.
Which ETF is larger by assets under management: ZCN or QCN?
As of September 18, 2026, ZCN manages $18.45 B in assets, while QCN manages $6.14 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, Energy, and Non-Energy Materials. QCN is most exposed to Finance, Energy, and Non-Energy Materials.
Which ETF is attracting more investor flows: ZCN or QCN?
Year to date, ZCN has seen +$2,939.74 M in net flows, compared with +$978.48 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 219 securities, while QCN holds 327. On holdings count, QCN is the more diversified portfolio.
Recent articles about ZCN and QCN
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