VS
BMO Japan Index ETF (ZJPN) and iShares Core S&P/TSX Capped Composite Index ETF (XIC) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZJPN focuses its top 3 sector exposures on Industrials, Consumer Discretionary, and Financials, while XIC leans towards Financials, Energy, and Materials. When evaluating costs, ZJPN features a management fee (MER) of 0.35%, compared to 0.05% for XIC. Performance-wise, ZJPN has returned 13.09% year-to-date with +$108 M in net flows, whereas XIC is at 8.91% with +$5 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
ZJPN
XIC
| AuM | $651.87 M | $29,276.00 M |
| Management Fees | 0.35% | 0.05% |
| Exp. ratio | 0.39% | 0.06% |
| Tracking Difference | 0.34% | -0.12% |
Historical performance and flows
As of May 12, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZJPN | +3.30% | -0.79% | +13.09% | +28.30% | +68.65% |
XIC | +1.30% | +6.21% | +8.91% | +37.50% | +82.62% | |
| Flows | ZJPN | +$5 M | +$106 M | +$108 M | +$129 M | -$0 M |
XIC | +$769 M | +$3,055 M | +$5,312 M | +$7,840 M | +$11,274 M |
ZJPN vs XIC exposure
Countries
ZJPN
Japan
100.00%
XIC
Canada
98.95%
Sectors
ZJPN
Industrials
25.96%
Consumer Discretionary
16.15%
Financials
16.04%
Information Technology
12.48%
Other
29.37%
XIC
Financials
28.13%
Energy
18.01%
Materials
15.92%
Other
13.03%
Other
24.92%
As of May 12, 2026
Top 10 Holdings
ZJPN
TOYOTA
4.18%
MITSUBISHI UFJ FINANCIAL GROUP
3.64%
HITACHI
2.41%
SUMITOMO MITSUI
2.36%
SONY GROUP CORPORATION
2.36%
MITSUBISHI
2.35%
TOKYO ELECTRON
2.14%
MITSUI
1.87%
MIZUHO FINANCIAL
1.85%
ADVANTEST
1.82%
XIC
ROYAL BK CANADA
6.69%
TORONTO DOMINION
4.64%
SHOPIFY SUBORDINATE VOTING
4.31%
ENBRIDGE
3.50%
AGNICO EAGLE MINES LTD
3.01%
CDN NATURAL RESOURCE
3.01%
BANK OF MONTREAL
2.83%
CA11271J1075
2.65%
CDN IMPERIAL BK
2.61%
BNS
2.53%
Diversification
ZJPN
Total weight of top 10 holdings out of 305 total
24.99%
XIC
Total weight of top 10 holdings out of 221 total
35.80%
Characteristics
Compare
ZJPN
XIC
| Provider | BMO | iShares |
| Management | Passively managed | Passively managed |
| Benchmark | Solactive GBS Japan Large & Mid Cap NTR Index - CAD | S&P/TSX Capped Composite Total Return Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.22% | 2.06% |
| Meets ESG criteria | No | No |
| Inception Date | January 17, 2022 | February 16, 2001 |
Frequently asked questions about ZJPN and XIC
Which ETF has performed better year to date: ZJPN or XIC?
As of May 12, 2026, ZJPN has returned 13.09% year to date, while XIC has returned 8.91%. ZJPN is ahead on YTD performance.
Which ETF is larger by assets under management: ZJPN or XIC?
As of May 12, 2026, ZJPN manages $651.87 M in assets, while XIC manages $29.28 B. XIC is the larger fund by AUM.
How are ZJPN and XIC managed?
ZJPN is passively managed by BMO. It tracks the Solactive GBS Japan Large & Mid Cap NTR Index - CAD benchmark. XIC is passively managed by iShares. It tracks the S&P/TSX Capped Composite Total Return Index - CAD benchmark.
What sectors do ZJPN and XIC emphasize?
ZJPN is most exposed to Industrials, Consumer Discretionary, and Financials. XIC is most exposed to Financials, Energy, and Materials.
Which ETF is attracting more investor flows: ZJPN or XIC?
Year to date, ZJPN has seen +$108.46 M in net flows, compared with +$5,311.62 M for XIC. XIC has attracted more net investor money so far.
How do the fees of ZJPN and XIC compare?
ZJPN has an expense ratio of 0.39%, while XIC has an expense ratio of 0.06%.
What are the top holdings of ZJPN and XIC?
ZJPN's largest holdings include TOYOTA, MITSUBISHI UFJ FINANCIAL GROUP, and HITACHI. XIC's top holdings include ROYAL BK CANADA and TORONTO DOMINION.
Which ETF is more diversified: ZJPN or XIC?
ZJPN holds 299 securities, while XIC holds 193. On holdings count, ZJPN is the more diversified portfolio.
Recent articles about ZJPN and XIC
Japan ETFs Rally as Takaichi Win Drives Global Flows
Political stability and structural reform lift Japan equities — and Canadian-listed ETFs are following.
Posted on 2/16/2026 by ETF Market Canada inJapan
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