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Compare BMO Low Volatility Emerging Markets Equity ETF (ZLE) vs Mackenzie Emerging Markets Equity Index ETF (QEE) to find the best fit for your portfolio. ZLE provides Technology, Finance, and Consumer Non-Cyclicals exposures, while QEE is primarily weighted in Technology, Finance, and Industrials. When evaluating costs, ZLE features a management fee (MER) of 0.45%, compared to 0.22% for QEE. Performance-wise, ZLE has returned 27.51% year-to-date with +$5 M in net flows, whereas QEE is at 19.88% with +$267 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
ZLE
QEE
| AuM | $96.31 M | $404.44 M |
| Management Fees | 0.45% | 0.22% |
| Exp. ratio | 0.49% | 0.27% |
| Tracking Difference | - | 0.61% |
Historical performance and flows
As of October 16, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZLE | -5.38% | +3.69% | +27.51% | +25.99% | +82.33% |
QEE | -2.20% | -1.63% | +19.88% | +19.37% | +79.81% | |
| Flows | ZLE | +$0 M | -$3 M | +$5 M | +$5 M | -$10 M |
QEE | +$75 M | +$172 M | +$267 M | +$277 M | +$319 M |
ZLE vs QEE exposure
Countries
ZLE
Taiwan
27.99%
Republic of Korea
20.25%
China
17.77%
India
11.15%
Other
22.84%
QEE
Taiwan
27.08%
Republic of Korea
20.12%
China
19.64%
India
12.05%
Other
21.11%
Sectors
ZLE
Technology
39.01%
Finance
18.89%
Consumer Non-Cyclicals
8.59%
Healthcare
7.22%
Other
26.29%
QEE
Technology
44.24%
Finance
20.31%
Industrials
7.18%
Other
28.27%
As of October 16, 2026
Top 10 Holdings
ZLE
Taiwan Semiconductor Manufacturing Co., Ltd.
6.96%
SK hynix, Inc.
5.22%
Samsung Electronics Co., Ltd.
4.79%
Samsung Electro-Mechanics Co., Ltd.
2.10%
Tencent Holdings Ltd.
1.91%
Samsung Electronics Co., Ltd.
1.89%
Saudi Telecom Co.
1.77%
Yageo Corp.
1.49%
MediaTek, Inc.
1.49%
Global Unichip Corp.
1.46%
QEE
Taiwan Semiconductor Manufacturing Co., Ltd.
14.17%
Samsung Electronics Co., Ltd.
6.90%
SK hynix, Inc.
5.36%
Tencent Holdings Ltd.
2.79%
Alibaba Group Holding Ltd.
2.06%
MediaTek, Inc.
1.42%
China Construction Bank Corp.
0.89%
Samsung Electronics Co., Ltd.
0.85%
Delta Electronics, Inc.
0.80%
Hon Hai Precision Industry Co., Ltd.
0.74%
Diversification
ZLE
Total weight of top 10 holdings out of 1,189 total
29.07%
QEE
Total weight of top 10 holdings out of 1,457 total
35.98%
Characteristics
Compare
ZLE
QEE
| Provider | BMO | Mackenzie Investments |
| Management | Actively managed | Passively managed |
| Benchmark | - | Solactive GBS Emerging Markets Large & Mid Cap CAD Index NTR - CAD |
| Replication Method | - | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.46% | 1.70% |
| Meets ESG criteria | No | No |
| Inception Date | May 17, 2016 | February 8, 2022 |
Frequently asked questions about ZLE and QEE
Which ETF has performed better year to date: ZLE or QEE?
As of October 16, 2026, ZLE has returned 27.51% year to date, while QEE has returned 19.88%. ZLE is ahead on YTD performance.
Which ETF is larger by assets under management: ZLE or QEE?
As of October 16, 2026, ZLE manages $96.31 M in assets, while QEE manages $404.44 M. QEE is the larger fund by AUM.
How are ZLE and QEE managed?
ZLE is actively managed by BMO. It does not track an index. QEE is passively managed by Mackenzie Investments. It tracks the Solactive GBS Emerging Markets Large & Mid Cap CAD Index NTR - CAD benchmark.
What sectors do ZLE and QEE emphasize?
ZLE is most exposed to Technology, Finance, and Consumer Non-Cyclicals. QEE is most exposed to Technology, Finance, and Industrials.
Which ETF is attracting more investor flows: ZLE or QEE?
Year to date, ZLE has seen +$5.28 M in net flows, compared with +$266.95 M for QEE. QEE has attracted more net investor money so far.
How do the fees of ZLE and QEE compare?
ZLE has an expense ratio of 0.49%, while QEE has an expense ratio of 0.27%.
What are the top holdings of ZLE and QEE?
ZLE's largest holdings include Taiwan Semiconductor Manufacturing Co., Ltd., Samsung Electronics Co., Ltd., and SK hynix, Inc.. QEE's top holdings include Taiwan Semiconductor Manufacturing Co., Ltd., Samsung Electronics Co., Ltd., and SK hynix, Inc..
Which ETF is more diversified: ZLE or QEE?
ZLE holds 1124 securities, while QEE holds 1368. On holdings count, QEE is the more diversified portfolio.
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