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BMO MSCI EAFE High Quality Index ETF (ZIQ) and BMO MSCI Europe High Quality Hedged to CAD Index ETF (ZEQ) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZIQ focuses its top 3 sector exposures on Technology, Healthcare, and Industrials, while ZEQ leans towards Healthcare, Industrials, and Consumer Non-Cyclicals. When evaluating costs, ZIQ features a management fee (MER) of 0.4%, compared to 0.4% for ZEQ. Performance-wise, ZIQ has returned 10.16% year-to-date with -$15 M in net flows, whereas ZEQ is at 6.21% with -$46 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
ZIQ
ZEQ
| AuM | $48.90 M | $315.03 M |
| Management Fees | 0.40% | 0.40% |
| Exp. ratio | 0.40% | 0.45% |
| Tracking Difference | -0.67% | -2.74% |
Historical performance and flows
As of July 17, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZIQ | -1.14% | +3.19% | +10.16% | +17.93% | - |
ZEQ | +0.86% | +2.01% | +6.21% | +10.41% | +21.53% | |
| Flows | ZIQ | -$21 M | -$38 M | -$15 M | -$192 M | - |
ZEQ | -$3 M | -$34 M | -$46 M | -$662 M | -$476 M |
ZIQ vs ZEQ exposure
Countries
ZIQ
Switzerland
20.39%
Japan
17.89%
United Kingdom
15.75%
Netherlands
9.68%
France
7.98%
Germany
7.12%
Other
21.20%
ZEQ
Switzerland
28.80%
United Kingdom
23.07%
France
11.62%
Netherlands
11.41%
Germany
7.46%
Other
17.64%
Sectors
ZIQ
Technology
22.11%
Healthcare
21.46%
Industrials
14.66%
Consumer Non-Cyclicals
10.64%
Finance
10.61%
Non-Energy Materials
9.54%
Other
10.98%
ZEQ
Healthcare
25.01%
Industrials
17.43%
Consumer Non-Cyclicals
15.26%
Technology
12.52%
Finance
10.33%
Consumer Cyclicals
8.08%
Other
11.35%
As of July 17, 2026
Top 10 Holdings
ZIQ
ASML Holding NV
7.28%
Novartis AG
4.43%
Roche Holding AG
4.40%
AstraZeneca PLC
4.02%
Nestlé SA
3.31%
BHP Group Ltd.
2.44%
Novo Nordisk A/S
2.28%
ABB Ltd.
2.26%
Tokyo Electron Ltd.
2.07%
Advantest Corp.
2.04%
ZEQ
ASML Holding NV
7.57%
Novartis AG
5.61%
Roche Holding AG
5.34%
AstraZeneca PLC
5.07%
Nestlé SA
4.85%
Novo Nordisk A/S
3.82%
ABB Ltd.
3.44%
Allianz SE
2.82%
Schneider Electric SE
2.72%
Unilever Plc
2.61%
Diversification
ZIQ
Total weight of top 10 holdings out of 219 total
34.54%
ZEQ
Total weight of top 10 holdings out of 121 total
43.85%
Characteristics
Compare
ZIQ
ZEQ
| Provider | BMO | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | MSCI EAFE Quality NTR Index - CAD | MSCI Europe Quality 100% Hedged to CAD Net Total Return Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.48% | 2.93% |
| Meets ESG criteria | No | No |
| Inception Date | October 23, 2024 | February 10, 2014 |
Frequently asked questions about ZIQ and ZEQ
Which ETF has performed better year to date: ZIQ or ZEQ?
As of July 17, 2026, ZIQ has returned 10.16% year to date, while ZEQ has returned 6.21%. ZIQ is ahead on YTD performance.
Which ETF is larger by assets under management: ZIQ or ZEQ?
As of July 17, 2026, ZIQ manages $48.90 M in assets, while ZEQ manages $315.03 M. ZEQ is the larger fund by AUM.
How are ZIQ and ZEQ managed?
ZIQ is passively managed by BMO. It tracks the MSCI EAFE Quality NTR Index - CAD benchmark. ZEQ is passively managed by BMO. It tracks the MSCI Europe Quality 100% Hedged to CAD Net Total Return Index - CAD benchmark.
What sectors do ZIQ and ZEQ emphasize?
ZIQ is most exposed to Technology, Healthcare, and Industrials. ZEQ is most exposed to Healthcare, Industrials, and Consumer Non-Cyclicals.
Which ETF is attracting more investor flows: ZIQ or ZEQ?
Year to date, ZIQ has seen -$14.91 M in net flows, compared with -$45.78 M for ZEQ. ZIQ has attracted more net investor money so far.
How do the fees of ZIQ and ZEQ compare?
ZIQ has an expense ratio of 0.40%, while ZEQ has an expense ratio of 0.45%.
What are the top holdings of ZIQ and ZEQ?
ZIQ's largest holdings include ASML Holding NV, Roche Holding AG, and Novartis AG. ZEQ's top holdings include ASML Holding NV, Novartis AG, and Roche Holding AG.
Which ETF is more diversified: ZIQ or ZEQ?
ZIQ holds 213 securities, while ZEQ holds 117. On holdings count, ZIQ is the more diversified portfolio.
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