VS
BMO SPDR Materials Select Sector Index ETF (ZXLB) and iShares S&P/TSX Capped Materials Index ETF (XMA) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZXLB focuses its top 3 sector exposures on Non-Energy Materials, while XMA leans towards Non-Energy Materials and Business Services. When evaluating costs, ZXLB features a management fee (MER) of 0.21%, compared to 0.55% for XMA. Performance-wise, ZXLB has returned 14.24% year-to-date with +$3 M in net flows, whereas XMA is at 17.11% with +$279 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
ZXLB
XMA
| AuM | $5.76 M | $764.10 M |
| Management Fees | 0.21% | 0.55% |
| Exp. ratio | 0.21% | 0.61% |
| Tracking Difference | - | 0.49% |
Historical performance and flows
As of September 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZXLB | -4.72% | -0.90% | +14.24% | +11.89% | - |
XMA | +6.12% | +18.28% | +17.11% | +42.41% | +173.54% | |
| Flows | ZXLB | +$0 M | -$12 M | +$3 M | +$3 M | - |
XMA | +$11 M | +$17 M | +$279 M | +$319 M | +$351 M |
ZXLB vs XMA exposure
Countries
ZXLB
USA
77.95%
United Kingdom
15.64%
XMA
Canada
98.17%
Sectors
ZXLB
Non-Energy Materials
99.81%
XMA
Non-Energy Materials
98.29%
As of September 11, 2026
Top 10 Holdings
ZXLB
Linde Plc
13.42%
Newmont Corp.
6.07%
Freeport-McMoRan, Inc.
5.46%
The Sherwin-Williams Co.
5.06%
Ecolab, Inc.
4.88%
Air Products & Chemicals, Inc.
4.81%
Corteva, Inc.
4.77%
Nucor Corp.
4.64%
Vulcan Materials Co.
4.45%
CRH Plc
4.29%
XMA
Agnico Eagle Mines Ltd.
13.31%
Barrick Mining Corp.
10.95%
Wheaton Precious Metals Corp.
8.93%
Franco-Nevada Corp.
7.40%
Nutrien Ltd.
5.90%
Kinross Gold Corp.
4.89%
Teck Resources Limited
4.86%
First Quantum Minerals Ltd.
3.26%
Pan American Silver Corp.
3.22%
Lundin Mining Corp.
2.98%
Diversification
ZXLB
Total weight of top 10 holdings out of 25 total
57.85%
XMA
Total weight of top 10 holdings out of 60 total
65.71%
Characteristics
Compare
ZXLB
XMA
| Provider | BMO | iShares |
| Management | Passively managed | Passively managed |
| Benchmark | S&P Materials Select Sector Total Return Index - USD | S&P/TSX Capped Materials Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.37% | 0.40% |
| Meets ESG criteria | No | No |
| Inception Date | February 2, 2025 | December 19, 2005 |
Frequently asked questions about ZXLB and XMA
Which ETF has performed better year to date: ZXLB or XMA?
As of September 11, 2026, ZXLB has returned 14.24% year to date, while XMA has returned 17.11%. XMA is ahead on YTD performance.
Which ETF is larger by assets under management: ZXLB or XMA?
As of September 11, 2026, ZXLB manages $5.76 M in assets, while XMA manages $764.10 M. XMA is the larger fund by AUM.
How are ZXLB and XMA managed?
ZXLB is passively managed by BMO. It tracks the S&P Materials Select Sector Total Return Index - USD benchmark. XMA is passively managed by iShares. It tracks the S&P/TSX Capped Materials Index - CAD benchmark.
What sectors do ZXLB and XMA emphasize?
ZXLB is most exposed to Non-Energy Materials. XMA is most exposed to Non-Energy Materials and Business Services.
Which ETF is attracting more investor flows: ZXLB or XMA?
Year to date, ZXLB has seen +$3.04 M in net flows, compared with +$278.67 M for XMA. XMA has attracted more net investor money so far.
How do the fees of ZXLB and XMA compare?
ZXLB has an expense ratio of 0.21%, while XMA has an expense ratio of 0.61%.
What are the top holdings of ZXLB and XMA?
ZXLB's largest holdings include Linde Plc, Newmont Corp., and Freeport-McMoRan, Inc.. XMA's top holdings include Agnico Eagle Mines Ltd., Barrick Mining Corp., and Wheaton Precious Metals Corp..
Which ETF is more diversified: ZXLB or XMA?
ZXLB holds 25 securities, while XMA holds 60. On holdings count, XMA is the more diversified portfolio.
Recent articles about ZXLB and XMA
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