VS
BMO Japan Index ETF (ZJPN) and BMO MSCI Europe High Quality Hedged to CAD Index ETF (ZEQ) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZJPN focuses its top 3 sector exposures on Industrials, Financials, and Consumer Discretionary, while ZEQ leans towards Industrials, Health Care, and Consumer Staples. When evaluating costs, ZJPN features a management fee (MER) of 0.35%, compared to 0.4% for ZEQ. Performance-wise, ZJPN has returned 20.55% year-to-date with +$118 M in net flows, whereas ZEQ is at 5.44% with -$43 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
ZJPN
ZEQ
| AuM | $705.00 M | $317.20 M |
| Management Fees | 0.35% | 0.40% |
| Exp. ratio | 0.39% | 0.45% |
| Tracking Difference | 1.01% | -2.82% |
Historical performance and flows
As of June 19, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZJPN | +7.89% | +16.26% | +20.55% | +38.84% | +75.89% |
ZEQ | +3.56% | +8.89% | +5.44% | +9.81% | +19.45% | |
| Flows | ZJPN | +$3 M | +$19 M | +$118 M | +$139 M | -$190 M |
ZEQ | -$3 M | -$39 M | -$43 M | -$656 M | -$482 M |
ZJPN vs ZEQ exposure
Countries
ZJPN
Japan
100.00%
ZEQ
Switzerland
28.04%
United Kingdom
24.95%
France
11.68%
Netherlands
11.58%
Germany
8.05%
Other
15.69%
Sectors
ZJPN
Industrials
25.87%
Financials
16.10%
Consumer Discretionary
15.39%
Information Technology
14.46%
Communication Services
7.01%
Other
21.17%
ZEQ
Industrials
21.63%
Health Care
15.83%
Other
13.19%
Consumer Staples
11.00%
Information Technology
10.45%
Financials
10.28%
Other
17.63%
As of June 19, 2026
Top 10 Holdings
ZJPN
TOYOTA
3.76%
MITSUBISHI UFJ FINANCIAL GROUP
3.75%
HITACHI
2.52%
ADVANTEST
2.50%
SUMITOMO MITSUI
2.46%
TOKYO ELECTRON
2.37%
SOFTBANK GROUP CORP
2.23%
SONY GROUP CORPORATION
2.22%
MIZUHO FINANCIAL
1.96%
MITSUBISHI
1.94%
ZEQ
ASML HOLDING
6.78%
NOVARTIS
5.46%
CH1499059983
5.26%
ASTRAZENECA
5.20%
NESTLE SA
4.88%
DK0062498333
3.47%
ABB
3.22%
ALLIANZ SE
2.93%
SCHNEIDER ELECTRIC SE
2.85%
GB00BVZK7T90
2.66%
Diversification
ZJPN
Total weight of top 10 holdings out of 305 total
25.70%
ZEQ
Total weight of top 10 holdings out of 121 total
42.71%
Characteristics
Compare
ZJPN
ZEQ
| Provider | BMO | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | Solactive GBS Japan Large & Mid Cap 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 | 1.15% | 2.93% |
| Meets ESG criteria | No | No |
| Inception Date | January 17, 2022 | February 10, 2014 |
Frequently asked questions about ZJPN and ZEQ
Which ETF has performed better year to date: ZJPN or ZEQ?
As of June 19, 2026, ZJPN has returned 20.55% year to date, while ZEQ has returned 5.44%. ZJPN is ahead on YTD performance.
Which ETF is larger by assets under management: ZJPN or ZEQ?
As of June 19, 2026, ZJPN manages $705.00 M in assets, while ZEQ manages $317.20 M. ZJPN is the larger fund by AUM.
How are ZJPN and ZEQ managed?
ZJPN is passively managed by BMO. It tracks the Solactive GBS Japan Large & Mid Cap 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 ZJPN and ZEQ emphasize?
ZJPN is most exposed to Industrials, Financials, and Consumer Discretionary. ZEQ is most exposed to Industrials, Health Care, and Consumer Staples.
Which ETF is attracting more investor flows: ZJPN or ZEQ?
Year to date, ZJPN has seen +$118.16 M in net flows, compared with -$42.58 M for ZEQ. ZJPN has attracted more net investor money so far.
How do the fees of ZJPN and ZEQ compare?
ZJPN has an expense ratio of 0.39%, while ZEQ has an expense ratio of 0.45%.
What are the top holdings of ZJPN and ZEQ?
ZJPN's largest holdings include TOYOTA, MITSUBISHI UFJ FINANCIAL GROUP, and HITACHI. ZEQ's top holdings include ASML HOLDING and NOVARTIS.
Which ETF is more diversified: ZJPN or ZEQ?
ZJPN holds 299 securities, while ZEQ holds 112. On holdings count, ZJPN is the more diversified portfolio.
Recent articles about ZJPN and ZEQ
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
US–Japan Trade Deal Sparks Rally in Canadian Japan ETFs
Tariff relief and $550 billion investment pledge lift Canadian-listed funds tracking Japanese equities.
Posted on 7/28/2025 by ETF Market Canada inJapan
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