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BMO SPDR Industrials Select Sector Index ETF (ZXLI) and Global X Defence Tech Index ETF (SHLD) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZXLI focuses its top 3 sector exposures on Industrials and Information Technology, while SHLD leans towards Industrials and Information Technology. When evaluating costs, ZXLI features a management fee (MER) of 0.21%, compared to 0.49% for SHLD. Performance-wise, ZXLI has returned 11.81% year-to-date with +$16 M in net flows, whereas SHLD is at 1.2% with +$108 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
ZXLI
SHLD
| AuM | $23.92 M | $243.03 M |
| Management Fees | 0.21% | 0.49% |
| Exp. ratio | 0.21% | 0.49% |
| Tracking Difference | - | -1.28% |
Historical performance and flows
As of May 7, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZXLI | +4.05% | +1.08% | +11.81% | +29.45% | - |
SHLD | -12.45% | -10.79% | +1.20% | +23.20% | - | |
| Flows | ZXLI | -$2 M | -$4 M | +$16 M | +$18 M | - |
SHLD | +$2 M | +$49 M | +$108 M | +$251 M | - |
ZXLI vs SHLD exposure
Countries
ZXLI
USA
93.12%
SHLD
USA
58.50%
Republic of Korea
8.04%
Other
33.46%
Sectors
ZXLI
Industrials
91.84%
Other
8.16%
SHLD
Industrials
85.92%
Information Technology
7.29%
As of May 7, 2026
Top 10 Holdings
ZXLI
CATERPILLAR
6.53%
GENERAL ELECTRIC
5.89%
RAYTHEON TECHNOLOGIES CORPORD
5.13%
US36828A1016
4.66%
BOEING U
3.09%
UBER TECHNOLOGIES INC
2.93%
UNION PACIFIC U
2.85%
HONEYWELL INTL
2.84%
DEERE
2.81%
EATON CORP PLC
2.75%
SHLD
LOCKHEED MARTIN
9.35%
RAYTHEON TECHNOLOGIES CORPORD
7.95%
GENERAL DYNAMICS
7.42%
PALANTIR TECHNOLOGIES
6.10%
RHEINMETALL
6.06%
L3 HARRIS TECHNOLOGIES
4.98%
NORTHROP GRUMMAN
4.96%
BAE SYSTEMS
4.96%
HANWHA AEROSPACE
4.78%
LEONARDO SPA
4.29%
Diversification
ZXLI
Total weight of top 10 holdings out of 79 total
39.48%
SHLD
Total weight of top 10 holdings out of 47 total
60.85%
Characteristics
Compare
ZXLI
SHLD
| Provider | BMO | Global X |
| Management | Passively managed | Passively managed |
| Benchmark | S&P Industrial Select Sector Total Return Index - USD | Global X Defense Tech Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.86% | 0.18% |
| Meets ESG criteria | No | No |
| Inception Date | February 2, 2025 | April 30, 2025 |
Frequently asked questions about ZXLI and SHLD
Which ETF has performed better year to date: ZXLI or SHLD?
As of May 7, 2026, ZXLI has returned 11.81% year to date, while SHLD has returned 1.20%. ZXLI is ahead on YTD performance.
Which ETF is larger by assets under management: ZXLI or SHLD?
As of May 7, 2026, ZXLI manages $23.92 M in assets, while SHLD manages $243.03 M. SHLD is the larger fund by AUM.
How are ZXLI and SHLD managed?
ZXLI is passively managed by BMO. It tracks the S&P Industrial Select Sector Total Return Index - USD benchmark. SHLD is passively managed by Global X. It tracks the Global X Defense Tech Index - CAD benchmark.
What sectors do ZXLI and SHLD emphasize?
ZXLI is most exposed to Industrials and Information Technology. SHLD is most exposed to Industrials and Information Technology.
Which ETF is attracting more investor flows: ZXLI or SHLD?
Year to date, ZXLI has seen +$16.36 M in net flows, compared with +$107.52 M for SHLD. SHLD has attracted more net investor money so far.
How do the fees of ZXLI and SHLD compare?
ZXLI has an expense ratio of 0.21%, while SHLD has an expense ratio of 0.49%.
What are the top holdings of ZXLI and SHLD?
ZXLI's largest holdings include CATERPILLAR and GENERAL ELECTRIC. SHLD's top holdings include LOCKHEED MARTIN, RAYTHEON TECHNOLOGIES CORPORD, and GENERAL DYNAMICS.
Which ETF is more diversified: ZXLI or SHLD?
ZXLI holds 77 securities, while SHLD holds 42. On holdings count, ZXLI is the more diversified portfolio.
Recent articles about ZXLI and SHLD
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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.