VS
BMO US Preferred Share Index ETF (ZUP) and BMO Equal Weight Banks Index ETF (ZEB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZUP focuses its top 3 sector exposures on Finance, Telecommunications, and Utilities, while ZEB leans towards Finance. When evaluating costs, ZUP features a management fee (MER) of 0.45%, compared to 0.25% for ZEB. Performance-wise, ZUP has returned 0.16% year-to-date with +$3 M in net flows, whereas ZEB is at 30.13% with +$531 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
ZUP
ZEB
| AuM | $43.80 M | $7,406.60 M |
| Management Fees | 0.45% | 0.25% |
| Exp. ratio | 0.50% | 0.28% |
| Tracking Difference | 0.02% | -0.54% |
Historical performance and flows
As of September 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZUP | -1.41% | -2.55% | -0.16% | -3.50% | +18.17% |
ZEB | -2.08% | +5.04% | +30.13% | +49.59% | +159.17% | |
| Flows | ZUP | +$0 M | +$1 M | +$3 M | +$3 M | +$1 M |
ZEB | +$277 M | +$1,632 M | +$531 M | +$1,038 M | -$434 M |
ZUP vs ZEB exposure
Countries
ZUP
USA
91.45%
Bermuda
8.55%
ZEB
Canada
100.00%
Sectors
ZUP
Finance
82.77%
Telecommunications
8.16%
Other
9.07%
ZEB
Finance
100.00%
As of September 11, 2026
Top 10 Holdings
ZUP
Whirlpool Corp.
1.04%
Brookfield Property Partners LP
1.03%
Brookfield Property Partners LP
0.99%
Arbor Realty Trust, Inc.
0.88%
Qwest Corporation, 6.75% 15jun2052, USD
0.84%
KKR Real Estate Finance Trust, Inc.
0.83%
Qwest Corporation, 6.5% 1sep2051, USD
0.82%
Qwest Corporation, 6.75% 15jun2057, USD
0.81%
Qwest Corporation, 6.5% 1sep2056, USD
0.81%
F&G Annuities & Life, 7.3% 15jan2065, USD
0.80%
ZEB
Royal Bank of Canada
17.39%
Bank of Montreal
17.03%
The Toronto-Dominion Bank
16.96%
The Bank of Nova Scotia
16.51%
Canadian Imperial Bank of Commerce
16.09%
National Bank of Canada
16.03%
Diversification
ZUP
Total weight of top 10 holdings out of 156 total
8.86%
ZEB
Total weight of top 10 holdings out of 6 total
100.00%
Characteristics
Compare
ZUP
ZEB
| Provider | BMO | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | Solactive US Preferred Share Select Net Total Return Index - CAD | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 6.22% | 2.35% |
| Meets ESG criteria | No | No |
| Inception Date | February 9, 2017 | October 20, 2009 |
Frequently asked questions about ZUP and ZEB
Which ETF has performed better year to date: ZUP or ZEB?
As of September 11, 2026, ZUP has returned -0.16% year to date, while ZEB has returned 30.13%. ZEB is ahead on YTD performance.
Which ETF is larger by assets under management: ZUP or ZEB?
As of September 11, 2026, ZUP manages $43.80 M in assets, while ZEB manages $7.41 B. ZEB is the larger fund by AUM.
How are ZUP and ZEB managed?
ZUP is passively managed by BMO. It tracks the Solactive US Preferred Share Select Net Total Return Index - CAD benchmark. ZEB is passively managed by BMO. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do ZUP and ZEB emphasize?
ZUP is most exposed to Finance, Telecommunications, and Utilities. ZEB is most exposed to Finance.
Which ETF is attracting more investor flows: ZUP or ZEB?
Year to date, ZUP has seen +$3.02 M in net flows, compared with +$530.61 M for ZEB. ZEB has attracted more net investor money so far.
How do the fees of ZUP and ZEB compare?
ZUP has an expense ratio of 0.50%, while ZEB has an expense ratio of 0.28%.
What are the top holdings of ZUP and ZEB?
ZUP's largest holdings include Rithm Capital Corp., Athene Holding Ltd., and Vornado Realty Trust. ZEB's top holdings include Royal Bank of Canada, Bank of Montreal, and The Toronto-Dominion Bank.
Which ETF is more diversified: ZUP or ZEB?
ZUP holds 105 securities, while ZEB holds 6. On holdings count, ZUP is the more diversified portfolio.
Recent articles about ZUP and ZEB
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All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.