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Compare BMO Low Volatility Emerging Markets Equity ETF (ZLE) vs BMO MSCI Emerging Markets Index ETF (ZEM) to find the best fit for your portfolio. ZLE provides Technology, Finance, and Consumer Non-Cyclicals exposures, while ZEM is primarily weighted in Technology, Finance, and Non-Energy Materials. When evaluating costs, ZLE features a management fee (MER) of 0.45%, compared to 0.25% for ZEM. Performance-wise, ZLE has returned 27.51% year-to-date with +$5 M in net flows, whereas ZEM is at 19.59% with +$1 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
ZLE
ZEM
| AuM | $96.31 M | $3,587.68 M |
| Management Fees | 0.45% | 0.25% |
| Exp. ratio | 0.49% | 0.27% |
| Tracking Difference | - | -0.97% |
Historical performance and flows
As of October 19, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZLE | -5.38% | +3.69% | +27.51% | +25.99% | +82.33% |
ZEM | -7.27% | +0.46% | +19.59% | +18.33% | +86.91% | |
| Flows | ZLE | +$0 M | -$3 M | +$5 M | +$5 M | -$10 M |
ZEM | +$128 M | +$318 M | +$1,068 M | +$1,317 M | +$1,389 M |
ZLE vs ZEM exposure
Countries
ZLE
Taiwan
27.99%
Republic of Korea
20.25%
China
17.77%
India
11.15%
Other
22.84%
ZEM
Taiwan
27.53%
Republic of Korea
20.69%
China
18.51%
India
11.36%
Other
21.91%
Sectors
ZLE
Technology
39.01%
Finance
18.89%
Consumer Non-Cyclicals
8.59%
Healthcare
7.22%
Other
26.29%
ZEM
Technology
44.93%
Finance
21.13%
Non-Energy Materials
7.17%
Other
26.77%
As of October 19, 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%
ZEM
Taiwan Semiconductor Manufacturing Co., Ltd.
15.07%
Samsung Electronics Co., Ltd.
7.16%
SK hynix, Inc.
5.45%
Tencent Holdings Ltd.
2.86%
Alibaba Group Holding Ltd.
1.97%
MediaTek, Inc.
1.44%
Delta Electronics, Inc.
0.91%
Samsung Electronics Co., Ltd.
0.88%
China Construction Bank Corp.
0.82%
Hon Hai Precision Industry Co., Ltd.
0.78%
Diversification
ZLE
Total weight of top 10 holdings out of 1,189 total
29.07%
ZEM
Total weight of top 10 holdings out of 1,173 total
37.35%
Characteristics
Compare
ZLE
ZEM
| Provider | BMO | BMO |
| Management | Actively managed | Passively managed |
| Benchmark | - | MSCI Emerging Markets Net Total Return Index - CAD |
| Replication Method | - | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.46% | 1.87% |
| Meets ESG criteria | No | No |
| Inception Date | May 17, 2016 | October 20, 2009 |
Frequently asked questions about ZLE and ZEM
Which ETF has performed better year to date: ZLE or ZEM?
As of October 19, 2026, ZLE has returned 27.51% year to date, while ZEM has returned 19.59%. ZLE is ahead on YTD performance.
Which ETF is larger by assets under management: ZLE or ZEM?
As of October 19, 2026, ZLE manages $96.31 M in assets, while ZEM manages $3.59 B. ZEM is the larger fund by AUM.
How are ZLE and ZEM managed?
ZLE is actively managed by BMO. It does not track an index. ZEM is passively managed by BMO. It tracks the MSCI Emerging Markets Net Total Return Index - CAD benchmark.
What sectors do ZLE and ZEM emphasize?
ZLE is most exposed to Technology, Finance, and Consumer Non-Cyclicals. ZEM is most exposed to Technology, Finance, and Non-Energy Materials.
Which ETF is attracting more investor flows: ZLE or ZEM?
Year to date, ZLE has seen +$5.28 M in net flows, compared with +$1,068.07 M for ZEM. ZEM has attracted more net investor money so far.
How do the fees of ZLE and ZEM compare?
ZLE has an expense ratio of 0.49%, while ZEM has an expense ratio of 0.27%.
What are the top holdings of ZLE and ZEM?
ZLE's largest holdings include Taiwan Semiconductor Manufacturing Co., Ltd., Samsung Electronics Co., Ltd., and SK hynix, Inc.. ZEM's top holdings include Taiwan Semiconductor Manufacturing Co., Ltd., Samsung Electronics Co., Ltd., and SK hynix, Inc..
Which ETF is more diversified: ZLE or ZEM?
ZLE holds 1124 securities, while ZEM holds 1116. On holdings count, ZLE is the more diversified portfolio.
Recent articles about ZLE and ZEM
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