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 17.37% year-to-date with +$2 M in net flows, whereas XMA is at 3.11% with +$226 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 | $5.08 M | $583.89 M |
| Management Fees | 0.21% | 0.55% |
| Exp. ratio | 0.21% | 0.61% |
| Tracking Difference | - | 0.56% |
Historical performance and flows
As of July 27, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZXLB | +0.84% | +3.09% | +17.37% | +17.73% | - |
XMA | -0.10% | -11.81% | -3.11% | +48.23% | +120.33% | |
| Flows | ZXLB | -$14 M | -$15 M | +$2 M | +$2 M | - |
XMA | -$3 M | -$44 M | +$226 M | +$273 M | +$295 M |
ZXLB vs XMA exposure
Countries
ZXLB
USA
75.60%
United Kingdom
15.90%
Other
8.50%
XMA
Canada
97.16%
Sectors
ZXLB
Non-Energy Materials
97.43%
XMA
Non-Energy Materials
97.40%
As of July 27, 2026
Top 10 Holdings
ZXLB
Linde Plc
14.07%
Newmont Corp.
5.85%
Freeport-McMoRan, Inc.
5.30%
Corteva, Inc.
4.96%
The Sherwin-Williams Co.
4.94%
Ecolab, Inc.
4.73%
Vulcan Materials Co.
4.72%
CRH Plc
4.67%
Air Products & Chemicals, Inc.
4.60%
Martin Marietta Materials, Inc.
4.55%
XMA
Agnico Eagle Mines Ltd.
13.87%
Barrick Mining Corp.
10.81%
Wheaton Precious Metals Corp.
8.96%
Franco-Nevada Corp.
7.06%
Nutrien Ltd.
5.32%
Kinross Gold Corp.
4.96%
Teck Resources Limited
4.69%
Pan American Silver Corp.
3.32%
First Quantum Minerals Ltd.
3.24%
Lundin Mining Corp.
2.89%
Diversification
ZXLB
Total weight of top 10 holdings out of 25 total
58.41%
XMA
Total weight of top 10 holdings out of 61 total
65.11%
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 | 1.33% | 0.48% |
| 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 July 27, 2026, ZXLB has returned 17.37% year to date, while XMA has returned -3.11%. ZXLB is ahead on YTD performance.
Which ETF is larger by assets under management: ZXLB or XMA?
As of July 27, 2026, ZXLB manages $5.08 M in assets, while XMA manages $583.89 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 +$2.18 M in net flows, compared with +$226.32 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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Posted on 7/3/2025 by Kyle Anthony inDefense
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