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Compare BMO Low Volatility US Equity ETF (ZLU) vs Invesco S&P 500 Low Volatility Index ETF (ULV.F) to find the best fit for your portfolio. ZLU provides Utilities, Healthcare, and Finance exposures, while ULV.F is primarily weighted in Finance, Utilities, and Consumer Non-Cyclicals. When evaluating costs, ZLU features a management fee (MER) of 0.3%, compared to 0.3% for ULV.F. Performance-wise, ZLU has returned 13.35% year-to-date with +$73 M in net flows, whereas ULV.F is at 7.02% with -$0 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
ZLU
ULV.F
| AuM | $2,508.21 M | $84.08 M |
| Management Fees | 0.30% | 0.30% |
| Exp. ratio | 0.33% | 0.31% |
| Tracking Difference | - | 1.96% |
Historical performance and flows
As of July 30, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZLU | -0.74% | +7.55% | +13.35% | +16.51% | +46.30% |
ULV.F | +2.00% | +2.67% | +7.02% | +5.02% | +21.18% | |
| Flows | ZLU | +$13 M | +$105 M | +$73 M | +$64 M | +$369 M |
ULV.F | +$0 M | -$1 M | -$0 M | -$6 M | -$42 M |
ZLU vs ULV.F exposure
Countries
ZLU
USA
97.02%
ULV.F
USA
94.95%
Sectors
ZLU
Utilities
20.14%
Healthcare
17.41%
Finance
14.46%
Consumer Non-Cyclicals
12.62%
Technology
12.47%
Industrials
7.42%
Other
15.49%
ULV.F
Finance
38.98%
Utilities
25.40%
Consumer Non-Cyclicals
10.36%
Industrials
7.13%
Other
18.13%
As of July 30, 2026
Top 10 Holdings
ZLU
Corning, Inc.
4.18%
Johnson & Johnson
2.98%
Teledyne Technologies, Inc.
2.67%
Cencora, Inc.
2.53%
Cisco Systems, Inc.
2.46%
International Business Machines Corp.
2.29%
Consolidated Edison, Inc.
2.08%
Motorola Solutions, Inc.
1.89%
Northrop Grumman Corp.
1.87%
Akamai Technologies, Inc.
1.84%
ULV.F
Loews Corp.
1.35%
FirstEnergy Corp.
1.33%
Ameren Corp.
1.30%
Berkshire Hathaway, Inc.
1.28%
Alliant Energy Corp.
1.27%
WEC Energy Group, Inc.
1.27%
DTE Energy Co.
1.26%
CenterPoint Energy, Inc.
1.25%
Duke Energy Corp.
1.25%
Johnson & Johnson
1.25%
Diversification
ZLU
Total weight of top 10 holdings out of 102 total
24.79%
ULV.F
Total weight of top 10 holdings out of 101 total
12.80%
Characteristics
Compare
ZLU
ULV.F
| Provider | BMO | Invesco |
| Management | Actively managed | Passively managed |
| Benchmark | - | S&P 500 Low Volatility (CAD Hedged) Index - CAD |
| Replication Method | ||
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.68% | 1.79% |
| Meets ESG criteria | No | No |
| Inception Date | March 27, 2013 | January 24, 2012 |
Frequently asked questions about ZLU and ULV.F
Which ETF has performed better year to date: ZLU or ULV.F?
As of July 30, 2026, ZLU has returned 13.35% year to date, while ULV.F has returned 7.02%. ZLU is ahead on YTD performance.
Which ETF is larger by assets under management: ZLU or ULV.F?
As of July 30, 2026, ZLU manages $2.51 B in assets, while ULV.F manages $84.08 M. ZLU is the larger fund by AUM.
How are ZLU and ULV.F managed?
ZLU is actively managed by BMO. It does not track an index. ULV.F is passively managed by Invesco. It tracks the S&P 500 Low Volatility (CAD Hedged) Index - CAD benchmark.
What sectors do ZLU and ULV.F emphasize?
ZLU is most exposed to Utilities, Healthcare, and Finance. ULV.F is most exposed to Finance, Utilities, and Consumer Non-Cyclicals.
Which ETF is attracting more investor flows: ZLU or ULV.F?
Year to date, ZLU has seen +$72.84 M in net flows, compared with -$0.49 M for ULV.F. ZLU has attracted more net investor money so far.
How do the fees of ZLU and ULV.F compare?
ZLU has an expense ratio of 0.33%, while ULV.F has an expense ratio of 0.31%.
What are the top holdings of ZLU and ULV.F?
ZLU's largest holdings include Corning, Inc., Johnson & Johnson, and Teledyne Technologies, Inc.. ULV.F's top holdings include Loews Corp., FirstEnergy Corp., and Ameren Corp..
Which ETF is more diversified: ZLU or ULV.F?
ZLU holds 102 securities, while ULV.F holds 100. On holdings count, ZLU is the more diversified portfolio.
Recent articles about ZLU and ULV.F
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