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Compare BMO Low Volatility Canadian Equity ETF (ZLB) vs iShares Core S&P/TSX Capped Composite Index ETF (XIC) to find the best fit for your portfolio. ZLB provides Finance, Consumer Non-Cyclicals, and Utilities exposures, while XIC is primarily weighted in Finance, Energy, and Non-Energy Materials. When evaluating costs, ZLB features a management fee (MER) of 0.35%, compared to 0.05% for XIC. Performance-wise, ZLB has returned 3.85% year-to-date with +$203 M in net flows, whereas XIC is at 14.24% with +$9 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
ZLB
XIC
| AuM | $6,048.00 M | $33,978.99 M |
| Management Fees | 0.35% | 0.05% |
| Exp. ratio | 0.39% | 0.06% |
| Tracking Difference | - | -0.09% |
Historical performance and flows
As of September 14, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZLB | -2.66% | -2.26% | +3.85% | +10.49% | +54.67% |
XIC | -2.64% | +1.72% | +14.24% | +23.98% | +88.02% | |
| Flows | ZLB | -$12 M | +$53 M | +$203 M | +$314 M | +$1,230 M |
XIC | +$1,644 M | +$3,076 M | +$8,752 M | +$9,290 M | +$14,932 M |
ZLB vs XIC exposure
Countries
ZLB
Canada
95.90%
XIC
Canada
96.46%
Sectors
ZLB
Finance
31.83%
Consumer Non-Cyclicals
18.94%
Utilities
17.56%
Telecommunications
8.67%
Other
22.99%
XIC
Finance
41.74%
Energy
17.17%
Non-Energy Materials
15.75%
Industrials
8.14%
Other
17.19%
As of September 14, 2026
Top 10 Holdings
ZLB
Fortis, Inc.
4.37%
Great-West Lifeco, Inc.
4.37%
Quebecor, Inc.
4.02%
Hydro One Ltd.
3.98%
Loblaw Cos. Ltd.
3.98%
Emera, Inc.
3.71%
Empire Co. Ltd.
3.61%
Intact Financial Corp.
3.33%
Metro, Inc.
3.26%
Canadian Utilities Ltd.
3.21%
XIC
Royal Bank of Canada
8.10%
The Toronto-Dominion Bank
5.52%
Shopify, Inc.
4.12%
Bank of Montreal
3.45%
Enbridge, Inc.
3.34%
Canadian Imperial Bank of Commerce
3.00%
The Bank of Nova Scotia
2.98%
Canadian Natural Resources Ltd.
2.72%
Brookfield Corp.
2.48%
Suncor Energy, Inc.
2.17%
Diversification
ZLB
Total weight of top 10 holdings out of 51 total
37.82%
XIC
Total weight of top 10 holdings out of 219 total
37.87%
Characteristics
Compare
ZLB
XIC
| Provider | BMO | iShares |
| Management | Actively managed | Passively managed |
| Benchmark | - | S&P/TSX Capped Composite Total Return Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.88% | 1.97% |
| Meets ESG criteria | No | No |
| Inception Date | October 27, 2011 | February 16, 2001 |
Frequently asked questions about ZLB and XIC
Which ETF has performed better year to date: ZLB or XIC?
As of September 14, 2026, ZLB has returned 3.85% year to date, while XIC has returned 14.24%. XIC is ahead on YTD performance.
Which ETF is larger by assets under management: ZLB or XIC?
As of September 14, 2026, ZLB manages $6.05 B in assets, while XIC manages $33.98 B. XIC is the larger fund by AUM.
How are ZLB and XIC managed?
ZLB is actively managed by BMO. It does not track an index. XIC is passively managed by iShares. It tracks the S&P/TSX Capped Composite Total Return Index - CAD benchmark.
What sectors do ZLB and XIC emphasize?
ZLB is most exposed to Finance, Consumer Non-Cyclicals, and Utilities. XIC is most exposed to Finance, Energy, and Non-Energy Materials.
Which ETF is attracting more investor flows: ZLB or XIC?
Year to date, ZLB has seen +$202.71 M in net flows, compared with +$8,752.46 M for XIC. XIC has attracted more net investor money so far.
How do the fees of ZLB and XIC compare?
ZLB has an expense ratio of 0.39%, while XIC has an expense ratio of 0.06%.
What are the top holdings of ZLB and XIC?
ZLB's largest holdings include Fortis, Inc., Great-West Lifeco, Inc., and Quebecor, Inc.. XIC's top holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and Shopify, Inc..
Which ETF is more diversified: ZLB or XIC?
ZLB holds 51 securities, while XIC holds 219. On holdings count, XIC is the more diversified portfolio.
Recent articles about ZLB and XIC
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