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BMO SPDR Financials Select Sector Index ETF (ZXLF) and BMO Equal Weight Banks Index ETF (ZEB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZXLF focuses its top 3 sector exposures on Finance, Technology, and Business Services, while ZEB leans towards Finance. When evaluating costs, ZXLF features a management fee (MER) of 0.21%, compared to 0.25% for ZEB. Performance-wise, ZXLF has returned 6.27% year-to-date with +$6 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
ZXLF
ZEB
| AuM | $11.25 M | $7,406.60 M |
| Management Fees | 0.21% | 0.25% |
| Exp. ratio | 0.21% | 0.28% |
| Tracking Difference | - | -0.54% |
Historical performance and flows
As of September 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZXLF | -1.39% | +8.37% | +6.27% | +7.46% | - |
ZEB | -2.08% | +5.04% | +30.13% | +49.59% | +159.17% | |
| Flows | ZXLF | +$4 M | +$4 M | +$6 M | -$16 M | - |
ZEB | +$277 M | +$1,632 M | +$531 M | +$1,038 M | -$434 M |
ZXLF vs ZEB exposure
Countries
ZXLF
USA
96.29%
ZEB
Canada
100.00%
Sectors
ZXLF
Finance
95.61%
ZEB
Finance
100.00%
As of September 11, 2026
Top 10 Holdings
ZXLF
JPMorgan Chase & Co.
11.72%
Berkshire Hathaway, Inc.
11.66%
Visa, Inc.
7.56%
Mastercard, Inc.
5.75%
Bank of America Corp.
5.03%
The Goldman Sachs Group, Inc.
3.74%
Wells Fargo & Co.
3.29%
Morgan Stanley
3.14%
Citigroup, Inc.
2.79%
American Express Co.
2.23%
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
ZXLF
Total weight of top 10 holdings out of 76 total
56.90%
ZEB
Total weight of top 10 holdings out of 6 total
100.00%
Characteristics
Compare
ZXLF
ZEB
| Provider | BMO | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | S&P Financials Select Sector Total Return Index - USD | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 0.81% | 2.35% |
| Meets ESG criteria | No | No |
| Inception Date | February 2, 2025 | October 20, 2009 |
Frequently asked questions about ZXLF and ZEB
Which ETF has performed better year to date: ZXLF or ZEB?
As of September 11, 2026, ZXLF has returned 6.27% year to date, while ZEB has returned 30.13%. ZEB is ahead on YTD performance.
Which ETF is larger by assets under management: ZXLF or ZEB?
As of September 11, 2026, ZXLF manages $11.25 M in assets, while ZEB manages $7.41 B. ZEB is the larger fund by AUM.
How are ZXLF and ZEB managed?
ZXLF is passively managed by BMO. It tracks the S&P Financials Select Sector Total Return Index - USD benchmark. ZEB is passively managed by BMO. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do ZXLF and ZEB emphasize?
ZXLF is most exposed to Finance, Technology, and Business Services. ZEB is most exposed to Finance.
Which ETF is attracting more investor flows: ZXLF or ZEB?
Year to date, ZXLF has seen +$6.19 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 ZXLF and ZEB compare?
ZXLF has an expense ratio of 0.21%, while ZEB has an expense ratio of 0.28%.
What are the top holdings of ZXLF and ZEB?
ZXLF's largest holdings include JPMorgan Chase & Co., Berkshire Hathaway, Inc., and Visa, Inc.. ZEB's top holdings include Royal Bank of Canada, Bank of Montreal, and The Toronto-Dominion Bank.
Which ETF is more diversified: ZXLF or ZEB?
ZXLF holds 76 securities, while ZEB holds 6. On holdings count, ZXLF is the more diversified portfolio.
Recent articles about ZXLF 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.