VS
Compare BMO Low Volatility Canadian Equity ETF (ZLB) vs NBI Sustainable Canadian Equity ETF (NSCE) to find the best fit for your portfolio. ZLB provides Finance, Consumer Non-Cyclicals, and Utilities exposures, while NSCE is primarily weighted in Finance, Industrials, and Consumer Non-Cyclicals. When evaluating costs, ZLB features a management fee (MER) of 0.35%, compared to 0.69% for NSCE. Performance-wise, ZLB has returned 11.39% year-to-date with +$46 M in net flows, whereas NSCE is at 12.79% with -$171 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
ZLB
NSCE
| AuM | $6,287.33 M | $2,539.90 M |
| Management Fees | 0.35% | 0.69% |
| Exp. ratio | 0.39% | 0.64% |
| Tracking Difference | - | - |
Historical performance and flows
As of November 5, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZLB | +8.62% | +3.52% | +11.39% | +16.38% | +68.11% |
NSCE | +8.76% | +3.18% | +12.79% | +15.67% | +58.31% | |
| Flows | ZLB | -$110 M | -$150 M | +$46 M | +$210 M | +$1,075 M |
NSCE | -$3 M | -$13 M | -$171 M | -$196 M | -$126 M |
ZLB vs NSCE exposure
Countries
ZLB
Canada
96.25%
NSCE
Canada
92.53%
USA
7.50%
Sectors
ZLB
Finance
31.84%
Consumer Non-Cyclicals
19.03%
Utilities
16.61%
Telecommunications
8.25%
Other
24.27%
NSCE
Finance
36.54%
Industrials
15.91%
Consumer Non-Cyclicals
14.25%
Technology
10.59%
Telecommunications
7.55%
Business Services
7.38%
Other
7.77%
As of November 5, 2026
Top 10 Holdings
ZLB
Great-West Lifeco, Inc.
4.54%
Fortis, Inc.
4.29%
Loblaw Cos. Ltd.
3.97%
Quebecor, Inc.
3.85%
Hydro One Ltd.
3.67%
Empire Co. Ltd.
3.58%
Emera, Inc.
3.49%
Metro, Inc.
3.31%
CCL Industries, Inc.
3.25%
TMX Group Ltd.
3.17%
NSCE
Royal Bank of Canada
6.04%
Canadian National Railway Co.
5.10%
Canadian Pacific Kansas City Ltd.
4.66%
The Toronto-Dominion Bank
4.53%
National Bank of Canada
4.53%
Restaurant Brands International, Inc.
4.51%
Bank of Montreal
4.48%
Loblaw Cos. Ltd.
4.47%
Intact Financial Corp.
4.25%
Metro, Inc.
4.12%
Diversification
ZLB
Total weight of top 10 holdings out of 53 total
37.11%
NSCE
Total weight of top 10 holdings out of 32 total
46.68%
Characteristics
Compare
ZLB
NSCE
| Provider | BMO | National Bank Investments |
| Management | Actively managed | Actively managed |
| Benchmark | - | - |
| Replication Method | - | - |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.76% | 0.00% |
| Meets ESG criteria | No | Yes |
| Inception Date | October 27, 2011 | January 23, 2020 |
Frequently asked questions about ZLB and NSCE
Which ETF has performed better year to date: ZLB or NSCE?
As of November 5, 2026, ZLB has returned 11.39% year to date, while NSCE has returned 12.79%. NSCE is ahead on YTD performance.
Which ETF is larger by assets under management: ZLB or NSCE?
As of November 5, 2026, ZLB manages $6.29 B in assets, while NSCE manages $2.54 B. ZLB is the larger fund by AUM.
How are ZLB and NSCE managed?
ZLB is actively managed by BMO. It does not track an index. NSCE is actively managed by National Bank Investments. It does not track an index.
What sectors do ZLB and NSCE emphasize?
ZLB is most exposed to Finance, Consumer Non-Cyclicals, and Utilities. NSCE is most exposed to Finance, Industrials, and Consumer Non-Cyclicals.
Which ETF is attracting more investor flows: ZLB or NSCE?
Year to date, ZLB has seen +$45.56 M in net flows, compared with -$171.22 M for NSCE. ZLB has attracted more net investor money so far.
How do the fees of ZLB and NSCE compare?
ZLB has an expense ratio of 0.39%, while NSCE has an expense ratio of 0.64%.
What are the top holdings of ZLB and NSCE?
ZLB's largest holdings include Great-West Lifeco, Inc., Fortis, Inc., and Loblaw Cos. Ltd.. NSCE's top holdings include Royal Bank of Canada, Canadian National Railway Co., and Canadian Pacific Kansas City Ltd..
Which ETF is more diversified: ZLB or NSCE?
ZLB holds 53 securities, while NSCE holds 32. On holdings count, ZLB is the more diversified portfolio.
Recent articles about ZLB and NSCE
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