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BMO US Preferred Share Index ETF (ZUP) and BMO Equal Weight Utilities Index ETF (ZUT) 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 ZUT leans towards Utilities, Energy, and Industrials. When evaluating costs, ZUP features a management fee (MER) of 0.45%, compared to 0.55% for ZUT. Performance-wise, ZUP has returned 0.16% year-to-date with +$3 M in net flows, whereas ZUT is at 11.61% with -$95 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
ZUT
| AuM | $43.80 M | $805.63 M |
| Management Fees | 0.45% | 0.55% |
| Exp. ratio | 0.50% | 0.61% |
| Tracking Difference | 0.02% | -0.80% |
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% |
ZUT | -5.59% | -7.33% | +11.61% | +17.34% | +47.29% | |
| Flows | ZUP | +$0 M | +$1 M | +$3 M | +$3 M | +$1 M |
ZUT | +$5 M | -$17 M | -$95 M | -$106 M | +$217 M |
ZUP vs ZUT exposure
Countries
ZUP
USA
91.45%
Bermuda
8.55%
ZUT
Canada
84.41%
Bermuda
15.59%
Sectors
ZUP
Finance
82.77%
Telecommunications
8.16%
Other
9.07%
ZUT
Utilities
83.73%
Energy
8.32%
Industrials
7.95%
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%
ZUT
Boralex, Inc.
9.47%
ATCO Ltd.
8.45%
AltaGas Ltd.
8.32%
Canadian Utilities Ltd.
8.09%
Brookfield Infrastructure Partners LP
7.95%
Capital Power Corp.
7.68%
Brookfield Renewable Partners LP
7.64%
Emera, Inc.
7.35%
TransAlta Corp.
7.18%
Northland Power, Inc.
7.08%
Diversification
ZUP
Total weight of top 10 holdings out of 156 total
8.86%
ZUT
Total weight of top 10 holdings out of 13 total
79.21%
Characteristics
Compare
ZUP
ZUT
| Provider | BMO | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | Solactive US Preferred Share Select Net Total Return Index - CAD | Solactive Equal Weight Canada Utilities Total Return Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 6.22% | 2.96% |
| Meets ESG criteria | No | No |
| Inception Date | February 9, 2017 | January 19, 2010 |
Frequently asked questions about ZUP and ZUT
Which ETF has performed better year to date: ZUP or ZUT?
As of September 11, 2026, ZUP has returned -0.16% year to date, while ZUT has returned 11.61%. ZUT is ahead on YTD performance.
Which ETF is larger by assets under management: ZUP or ZUT?
As of September 11, 2026, ZUP manages $43.80 M in assets, while ZUT manages $805.63 M. ZUT is the larger fund by AUM.
How are ZUP and ZUT managed?
ZUP is passively managed by BMO. It tracks the Solactive US Preferred Share Select Net Total Return Index - CAD benchmark. ZUT is passively managed by BMO. It tracks the Solactive Equal Weight Canada Utilities Total Return Index - CAD benchmark.
What sectors do ZUP and ZUT emphasize?
ZUP is most exposed to Finance, Telecommunications, and Utilities. ZUT is most exposed to Utilities, Energy, and Industrials.
Which ETF is attracting more investor flows: ZUP or ZUT?
Year to date, ZUP has seen +$3.02 M in net flows, compared with -$94.91 M for ZUT. ZUP has attracted more net investor money so far.
How do the fees of ZUP and ZUT compare?
ZUP has an expense ratio of 0.50%, while ZUT has an expense ratio of 0.61%.
What are the top holdings of ZUP and ZUT?
ZUP's largest holdings include Rithm Capital Corp., Athene Holding Ltd., and Vornado Realty Trust. ZUT's top holdings include Boralex, Inc., ATCO Ltd., and AltaGas Ltd..
Which ETF is more diversified: ZUP or ZUT?
ZUP holds 105 securities, while ZUT holds 13. On holdings count, ZUP is the more diversified portfolio.
Recent articles about ZUP and ZUT
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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.