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Compare BMO MSCI Emerging Markets Index ETF (ZEM) vs CIBC MSCI Emerging Markets Equity Index ETF (CEMI) to find the best fit for your portfolio. ZEM and CEMI provide the same top sector exposures: Technology, Finance, and Non-Energy Materials. When evaluating costs, ZEM features a management fee (MER) of 0.25%, compared to 0.22% for CEMI. Performance-wise, ZEM has returned 28.97% year-to-date with +$942 M in net flows, whereas CEMI is at 28.14% with +$11 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
ZEM
CEMI
| AuM | $3,739.39 M | $234.06 M |
| Management Fees | 0.25% | 0.22% |
| Exp. ratio | 0.27% | 0.32% |
| Tracking Difference | -1.19% | 0.00% |
Historical performance and flows
As of September 21, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZEM | +4.10% | -3.30% | +28.97% | +33.73% | +100.32% |
CEMI | +2.89% | -4.14% | +28.14% | +33.01% | +95.15% | |
| Flows | ZEM | +$69 M | +$254 M | +$942 M | +$1,186 M | +$1,269 M |
CEMI | -$0 M | +$19 M | +$11 M | +$64 M | +$97 M |
ZEM vs CEMI exposure
Countries
ZEM
Taiwan
25.86%
China
20.39%
Republic of Korea
17.68%
India
12.30%
Other
23.77%
CEMI
Taiwan
26.05%
Republic of Korea
19.60%
China
18.90%
India
11.77%
Other
23.68%
Sectors
ZEM
Technology
41.63%
Finance
22.76%
Other
35.60%
CEMI
Technology
43.04%
Finance
21.48%
Other
35.48%
As of September 21, 2026
Top 10 Holdings
ZEM
Taiwan Semiconductor Manufacturing Co., Ltd.
14.88%
Samsung Electronics Co., Ltd.
5.99%
SK hynix, Inc.
4.52%
Tencent Holdings Ltd.
3.29%
Alibaba Group Holding Ltd.
2.12%
MediaTek, Inc.
1.28%
China Construction Bank Corp.
0.89%
Delta Electronics, Inc.
0.82%
HDFC Bank Ltd.
0.78%
Hon Hai Precision Industry Co., Ltd.
0.77%
CEMI
Taiwan Semiconductor Manufacturing Co., Ltd.
14.88%
Samsung Electronics Co., Ltd.
6.82%
SK hynix, Inc.
5.26%
Tencent Holdings Ltd.
3.04%
Alibaba Group Holding Ltd.
2.02%
MediaTek, Inc.
1.27%
Samsung Electronics Co., Ltd.
0.85%
China Construction Bank Corp.
0.80%
Delta Electronics, Inc.
0.80%
Hon Hai Precision Industry Co., Ltd.
0.76%
Diversification
ZEM
Total weight of top 10 holdings out of 1,179 total
35.34%
CEMI
Total weight of top 10 holdings out of 2,833 total
36.50%
Characteristics
Compare
ZEM
CEMI
| Provider | BMO | CIBC |
| Management | Passively managed | Passively managed |
| Benchmark | MSCI Emerging Markets Net Total Return Index - CAD | MSCI Emerging Markets Net Total Return Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.73% | 1.23% |
| Meets ESG criteria | No | No |
| Inception Date | October 20, 2009 | September 16, 2021 |
Frequently asked questions about ZEM and CEMI
Which ETF has performed better year to date: ZEM or CEMI?
As of September 21, 2026, ZEM has returned 28.97% year to date, while CEMI has returned 28.14%. ZEM is ahead on YTD performance.
Which ETF is larger by assets under management: ZEM or CEMI?
As of September 21, 2026, ZEM manages $3.74 B in assets, while CEMI manages $234.06 M. ZEM is the larger fund by AUM.
How are ZEM and CEMI managed?
ZEM is passively managed by BMO. It tracks the MSCI Emerging Markets Net Total Return Index - CAD benchmark. CEMI is passively managed by CIBC. It tracks the MSCI Emerging Markets Net Total Return Index - CAD benchmark.
What sectors do ZEM and CEMI emphasize?
ZEM is most exposed to Technology, Finance, and Non-Energy Materials. CEMI is most exposed to Technology, Finance, and Non-Energy Materials.
Which ETF is attracting more investor flows: ZEM or CEMI?
Year to date, ZEM has seen +$941.68 M in net flows, compared with +$11.16 M for CEMI. ZEM has attracted more net investor money so far.
How do the fees of ZEM and CEMI compare?
ZEM has an expense ratio of 0.27%, while CEMI has an expense ratio of 0.32%.
What are the top holdings of ZEM and CEMI?
ZEM's largest holdings include Taiwan Semiconductor Manufacturing Co., Ltd., Samsung Electronics Co., Ltd., and SK hynix, Inc.. CEMI's top holdings include Taiwan Semiconductor Manufacturing Co., Ltd., Samsung Electronics Co., Ltd., and SK hynix, Inc..
Which ETF is more diversified: ZEM or CEMI?
ZEM holds 1122 securities, while CEMI holds 2748. On holdings count, CEMI is the more diversified portfolio.
Recent articles about ZEM and CEMI
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