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Compare BMO Low Volatility Canadian Equity ETF (ZLB) vs BMO S&P/TSX Capped Composite Index ETF (ZCN) to find the best fit for your portfolio. ZLB provides Finance, Consumer Non-Cyclicals, and Utilities exposures, while ZCN is primarily weighted in Finance, Non-Energy Materials, and Energy. When evaluating costs, ZLB features a management fee (MER) of 0.35%, compared to 0.05% for ZCN. Performance-wise, ZLB has returned 11.3% year-to-date with +$42 M in net flows, whereas ZCN is at 14.87% with +$3 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
ZCN
| AuM | $6,279.60 M | $18,790.76 M |
| Management Fees | 0.35% | 0.05% |
| Exp. ratio | 0.39% | 0.06% |
| Tracking Difference | - | -0.09% |
Historical performance and flows
As of November 6, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZLB | +8.42% | +3.58% | +11.30% | +16.57% | +67.98% |
ZCN | +0.51% | -0.46% | +14.87% | +22.43% | +96.04% | |
| Flows | ZLB | -$119 M | -$160 M | +$42 M | +$198 M | +$1,072 M |
ZCN | +$354 M | +$985 M | +$3,437 M | +$3,510 M | +$5,353 M |
ZLB vs ZCN exposure
Countries
ZLB
Canada
96.25%
ZCN
Canada
96.85%
Sectors
ZLB
Finance
31.84%
Consumer Non-Cyclicals
19.03%
Utilities
16.61%
Telecommunications
8.25%
Other
24.27%
ZCN
Finance
41.35%
Non-Energy Materials
18.49%
Energy
16.07%
Industrials
8.04%
Other
16.06%
As of November 6, 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%
ZCN
Royal Bank of Canada
7.79%
The Toronto-Dominion Bank
5.50%
Shopify, Inc.
5.03%
Bank of Montreal
3.34%
The Bank of Nova Scotia
3.17%
Enbridge, Inc.
2.92%
Canadian Imperial Bank of Commerce
2.87%
Canadian Natural Resources Ltd.
2.73%
Agnico Eagle Mines Ltd.
2.65%
Suncor Energy, Inc.
2.22%
Diversification
ZLB
Total weight of top 10 holdings out of 53 total
37.11%
ZCN
Total weight of top 10 holdings out of 216 total
38.22%
Characteristics
Compare
ZLB
ZCN
| Provider | BMO | BMO |
| 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 | 1.76% | 2.01% |
| Meets ESG criteria | No | No |
| Inception Date | October 27, 2011 | May 29, 2009 |
Frequently asked questions about ZLB and ZCN
Which ETF has performed better year to date: ZLB or ZCN?
As of November 6, 2026, ZLB has returned 11.30% year to date, while ZCN has returned 14.87%. ZCN is ahead on YTD performance.
Which ETF is larger by assets under management: ZLB or ZCN?
As of November 6, 2026, ZLB manages $6.28 B in assets, while ZCN manages $18.79 B. ZCN is the larger fund by AUM.
How are ZLB and ZCN managed?
ZLB is actively managed by BMO. It does not track an index. ZCN is passively managed by BMO. It tracks the S&P/TSX Capped Composite Total Return Index - CAD benchmark.
What sectors do ZLB and ZCN emphasize?
ZLB is most exposed to Finance, Consumer Non-Cyclicals, and Utilities. ZCN is most exposed to Finance, Non-Energy Materials, and Energy.
Which ETF is attracting more investor flows: ZLB or ZCN?
Year to date, ZLB has seen +$42.38 M in net flows, compared with +$3,437.22 M for ZCN. ZCN has attracted more net investor money so far.
How do the fees of ZLB and ZCN compare?
ZLB has an expense ratio of 0.39%, while ZCN has an expense ratio of 0.06%.
What are the top holdings of ZLB and ZCN?
ZLB's largest holdings include Great-West Lifeco, Inc., Fortis, Inc., and Loblaw Cos. Ltd.. ZCN's top holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and Shopify, Inc..
Which ETF is more diversified: ZLB or ZCN?
ZLB holds 53 securities, while ZCN holds 216. On holdings count, ZCN is the more diversified portfolio.
Recent articles about ZLB and ZCN
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