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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 Healthcare, Utilities, 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 16.36% year-to-date with +$79 M in net flows, whereas XMU is at 13.33% with -$46 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 | $2,570.39 M | $372.55 M |
| Management Fees | 0.30% | 0.30% |
| Exp. ratio | 0.33% | 0.33% |
| Tracking Difference | - | -0.09% |
Historical performance and flows
As of October 22, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZLU | +4.69% | +2.97% | +16.36% | +13.42% | +57.56% |
XMU | +4.37% | +7.45% | +13.33% | +10.80% | +53.19% | |
| Flows | ZLU | +$3 M | +$6 M | +$79 M | +$70 M | +$400 M |
XMU | -$7 M | +$2 M | -$46 M | -$46 M | -$99 M |
ZLU vs XMU exposure
Countries
ZLU
USA
96.83%
XMU
USA
93.27%
Sectors
ZLU
Healthcare
18.85%
Utilities
18.29%
Finance
15.88%
Technology
12.68%
Consumer Non-Cyclicals
12.60%
Industrials
7.42%
Other
14.28%
XMU
Technology
30.32%
Finance
14.90%
Healthcare
14.05%
Consumer Non-Cyclicals
10.69%
Other
30.04%
As of October 22, 2026
Top 10 Holdings
ZLU
Johnson & Johnson
3.03%
Cencora, Inc.
2.85%
Teledyne Technologies, Inc.
2.53%
Corning, Inc.
2.39%
Cboe Global Markets, Inc.
2.31%
Cisco Systems, Inc.
2.26%
Motorola Solutions, Inc.
2.18%
Gen Digital, Inc.
2.10%
CME Group, Inc.
2.03%
Northrop Grumman Corp.
2.02%
XMU
Microsoft Corp.
1.57%
Amphenol Corp.
1.52%
NVIDIA Corp.
1.52%
Motorola Solutions, Inc.
1.51%
Welltower, Inc.
1.50%
Johnson & Johnson
1.45%
Verizon Communications, Inc.
1.45%
Chubb Ltd.
1.45%
Merck & Co., Inc.
1.45%
Vertex Pharmaceuticals, Inc.
1.43%
Diversification
ZLU
Total weight of top 10 holdings out of 100 total
23.71%
XMU
Total weight of top 10 holdings out of 173 total
14.85%
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 | 1.64% | 1.03% |
| 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 October 22, 2026, ZLU has returned 16.36% year to date, while XMU has returned 13.33%. ZLU is ahead on YTD performance.
Which ETF is larger by assets under management: ZLU or XMU?
As of October 22, 2026, ZLU manages $2.57 B in assets, while XMU manages $372.55 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 Healthcare, Utilities, 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 +$79.17 M in net flows, compared with -$45.76 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., Amphenol Corp., and NVIDIA Corp..
Which ETF is more diversified: ZLU or XMU?
ZLU holds 100 securities, while XMU holds 173. On holdings count, XMU is the more diversified portfolio.
Recent articles about ZLU and XMU
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