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Compare BMO Low Volatility US Equity ETF (ZLU) vs iShares MSCI USA Minimum Volatility Index ETF (XMU) to find the best fit for your portfolio. ZLU provides Utilities, Healthcare, and Finance exposures, while XMU is primarily weighted in Technology, Finance, and Healthcare. When evaluating costs, ZLU features a management fee (MER) of 0.3%, compared to 0.3% for XMU. Performance-wise, ZLU has returned 11.42% year-to-date with +$76 M in net flows, whereas XMU is at 6.41% with -$41 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
XMU
| AuM | $2,468.83 M | $355.11 M |
| Management Fees | 0.30% | 0.30% |
| Exp. ratio | 0.33% | 0.33% |
| Tracking Difference | - | -0.11% |
Historical performance and flows
As of September 10, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZLU | -2.75% | +0.56% | +11.42% | +11.63% | +45.01% |
XMU | -2.75% | +3.40% | +6.41% | +6.59% | +38.54% | |
| Flows | ZLU | -$10 M | +$80 M | +$76 M | +$56 M | +$380 M |
XMU | +$5 M | +$18 M | -$41 M | -$43 M | -$106 M |
ZLU vs XMU exposure
Countries
ZLU
USA
96.74%
XMU
USA
93.25%
Sectors
ZLU
Utilities
19.49%
Healthcare
18.18%
Finance
15.93%
Consumer Non-Cyclicals
12.79%
Technology
12.17%
Industrials
7.69%
Other
13.74%
XMU
Technology
29.58%
Finance
14.51%
Healthcare
13.49%
Consumer Non-Cyclicals
11.04%
Other
31.38%
As of September 10, 2026
Top 10 Holdings
ZLU
Johnson & Johnson
2.95%
Cencora, Inc.
2.82%
Teledyne Technologies, Inc.
2.70%
Cisco Systems, Inc.
2.38%
Cboe Global Markets, Inc.
2.24%
Corning, Inc.
2.21%
Consolidated Edison, Inc.
2.04%
Northrop Grumman Corp.
2.02%
Motorola Solutions, Inc.
1.97%
CME Group, Inc.
1.94%
XMU
Microsoft Corp.
1.58%
Welltower, Inc.
1.58%
Amphenol Corp.
1.57%
Chubb Ltd.
1.54%
Johnson & Johnson
1.54%
Vertex Pharmaceuticals, Inc.
1.47%
Berkshire Hathaway, Inc.
1.47%
Duke Energy Corp.
1.46%
The Southern Co.
1.44%
Cisco Systems, Inc.
1.43%
Diversification
ZLU
Total weight of top 10 holdings out of 101 total
23.28%
XMU
Total weight of top 10 holdings out of 165 total
15.08%
Characteristics
Compare
ZLU
XMU
| Provider | BMO | iShares |
| Management | Actively managed | Passively managed |
| Benchmark | - | MSCI USA Minimum Volatility Net Total Return Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.71% | 1.13% |
| Meets ESG criteria | No | No |
| Inception Date | March 27, 2013 | July 24, 2012 |
Frequently asked questions about ZLU and XMU
Which ETF has performed better year to date: ZLU or XMU?
As of September 10, 2026, ZLU has returned 11.42% year to date, while XMU has returned 6.41%. ZLU is ahead on YTD performance.
Which ETF is larger by assets under management: ZLU or XMU?
As of September 10, 2026, ZLU manages $2.47 B in assets, while XMU manages $355.11 M. ZLU is the larger fund by AUM.
How are ZLU and XMU managed?
ZLU is actively managed by BMO. It does not track an index. XMU is passively managed by iShares. It tracks the MSCI USA Minimum Volatility Net Total Return Index - CAD benchmark.
What sectors do ZLU and XMU emphasize?
ZLU is most exposed to Utilities, Healthcare, and Finance. XMU is most exposed to Technology, Finance, and Healthcare.
Which ETF is attracting more investor flows: ZLU or XMU?
Year to date, ZLU has seen +$76.14 M in net flows, compared with -$41.02 M for XMU. ZLU has attracted more net investor money so far.
How do the fees of ZLU and XMU compare?
ZLU has an expense ratio of 0.33%, while XMU has an expense ratio of 0.33%.
What are the top holdings of ZLU and XMU?
ZLU's largest holdings include Johnson & Johnson, Cencora, Inc., and Teledyne Technologies, Inc.. XMU's top holdings include Microsoft Corp., Welltower, Inc., and Amphenol Corp..
Which ETF is more diversified: ZLU or XMU?
ZLU holds 101 securities, while XMU holds 165. On holdings count, XMU is the more diversified portfolio.
Recent articles about ZLU and XMU
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