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Compare BMO MSCI USA High Quality Index ETF (ZUQ) vs NBI Active U.S. Equity ETF (NUSA.F) to find the best fit for your portfolio. ZUQ provides Technology, Healthcare, and Finance exposures, while NUSA.F is primarily weighted in Technology, Finance, and Consumer Non-Cyclicals. When evaluating costs, ZUQ features a management fee (MER) of 0.3%, compared to 0.55% for NUSA.F. Performance-wise, ZUQ has returned 15.89% year-to-date with -$74 M in net flows, whereas NUSA.F is at 4.83% 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
ZUQ
NUSA.F
| AuM | $1,330.95 M | $1.07 M |
| Management Fees | 0.30% | 0.55% |
| Exp. ratio | 0.33% | 0.55% |
| Tracking Difference | 0.08% | - |
Historical performance and flows
As of October 28, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZUQ | -0.87% | +2.90% | +15.89% | +15.30% | +87.46% |
NUSA.F | -0.37% | +5.10% | +4.83% | +2.37% | - | |
| Flows | ZUQ | +$6 M | -$11 M | -$74 M | -$59 M | +$306 M |
NUSA.F | +$0 M | +$0 M | +$0 M | +$0 M | - |
ZUQ vs NUSA.F exposure
Countries
ZUQ
USA
96.41%
NUSA.F
USA
95.59%
Sectors
ZUQ
Technology
44.98%
Healthcare
16.59%
Finance
11.62%
Consumer Non-Cyclicals
11.21%
Industrials
8.27%
Other
7.33%
NUSA.F
Technology
47.66%
Finance
13.04%
Consumer Non-Cyclicals
10.91%
Healthcare
9.10%
Other
19.29%
As of October 28, 2026
Top 10 Holdings
ZUQ
Microsoft Corp.
5.79%
Eli Lilly & Co.
5.40%
Apple, Inc.
5.04%
NVIDIA Corp.
4.64%
Meta Platforms, Inc.
4.52%
Visa, Inc.
4.46%
Johnson & Johnson
3.44%
Mastercard, Inc.
3.24%
Lam Research Corp.
2.75%
Alphabet, Inc.
2.36%
NUSA.F
NVIDIA Corp.
9.37%
Microsoft Corp.
8.51%
Amazon.com, Inc.
6.37%
Alphabet, Inc.
6.22%
Broadcom Inc.
4.75%
Apple, Inc.
4.03%
Lam Research Corp.
3.83%
Valero Energy Corp.
3.71%
Danaher Corp.
3.63%
JPMorgan Chase & Co.
3.61%
Diversification
ZUQ
Total weight of top 10 holdings out of 125 total
41.66%
NUSA.F
Total weight of top 10 holdings out of 32 total
54.03%
Characteristics
Compare
ZUQ
NUSA.F
| Provider | BMO | National Bank Investments |
| Management | Passively managed | Actively managed |
| Benchmark | MSCI USA Quality Net Total Return Index - CAD | - |
| Replication Method | Direct (Physical) | - |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 0.44% | 0.00% |
| Meets ESG criteria | No | No |
| Inception Date | November 5, 2014 | September 16, 2025 |
Frequently asked questions about ZUQ and NUSA.F
Which ETF has performed better year to date: ZUQ or NUSA.F?
As of October 28, 2026, ZUQ has returned 15.89% year to date, while NUSA.F has returned 4.83%. ZUQ is ahead on YTD performance.
Which ETF is larger by assets under management: ZUQ or NUSA.F?
As of October 28, 2026, ZUQ manages $1.33 B in assets, while NUSA.F manages $1.07 M. ZUQ is the larger fund by AUM.
How are ZUQ and NUSA.F managed?
ZUQ is passively managed by BMO. It tracks the MSCI USA Quality Net Total Return Index - CAD benchmark. NUSA.F is actively managed by National Bank Investments. It does not track an index.
What sectors do ZUQ and NUSA.F emphasize?
ZUQ is most exposed to Technology, Healthcare, and Finance. NUSA.F is most exposed to Technology, Finance, and Consumer Non-Cyclicals.
Which ETF is attracting more investor flows: ZUQ or NUSA.F?
Year to date, ZUQ has seen -$73.80 M in net flows, compared with +$0.00 M for NUSA.F. NUSA.F has attracted more net investor money so far.
How do the fees of ZUQ and NUSA.F compare?
ZUQ has an expense ratio of 0.33%, while NUSA.F has an expense ratio of 0.55%.
What are the top holdings of ZUQ and NUSA.F?
ZUQ's largest holdings include Microsoft Corp., Eli Lilly & Co., and Apple, Inc.. NUSA.F's top holdings include NVIDIA Corp., Microsoft Corp., and Amazon.com, Inc..
Which ETF is more diversified: ZUQ or NUSA.F?
ZUQ holds 124 securities, while NUSA.F holds 32. On holdings count, ZUQ is the more diversified portfolio.
Recent articles about ZUQ and NUSA.F
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