A side-by-side comparison of BMO Premium Yield ETF (ZPAY) and iShares S&P/TSX Capped REIT Index ETF (XRE) to help Canadian investors make an informed decision.
1-Year Performance
Normalised to 100 at the start — shows relative return over the trailing 12 months.
Head-to-Head Comparison
| Metric | ZPAY | XRE |
|---|---|---|
| YTD Return | +7.01%✓ | -0.45% |
| 1-Day Change | -0.17% | -0.13%✓ |
| 1-Week Change | -0.63%✓ | -3.08% |
| 1-Month Change | +0.44%✓ | -0.96% |
| Current Price | $34.49 | $15.44 |
| AUM | $467M | $1.03B✓ |
| MER (Expense Ratio) | 0.61% | — |
| Dividend Yield | 6.78%✓ | 4.43% |
| Distribution Frequency | — | Monthly |
| Inception Date | 2020-01-15 | 2002-10-17 |
| Holdings Count | 10 | 10 |
| MorningStar Rating | — | — |
| Category | Global Real Estate | Global Real Estate |
| Beta | 0.14 | 0.93 |
| 52-Week High | $35.03 | $17.29 |
| 52-Week Low | $29.30 | $14.31 |
| 50-Day MA | $34.11 | $15.75 |
| 200-Day MA | $32.87 | $16.32 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | ZPAY | XRE |
|---|---|---|
| YTD | +7.01%✓ | -0.45% |
| 1 Year | +11.29%✓ | +0.88% |
| 3 Year | +13.20%✓ | +9.42% |
| 5 Year | +10.11%✓ | -0.86% |
| 10 Year | — | +4.61% |
| 1Y Volatility | 6.05% | 13.70% |
| Sharpe Ratio (3Y) | 1.39 | 0.26 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | MSFT | Microsoft Corporation | 5.15% |
| 2 | AAPL | Apple Inc. | 3.65% |
| 3 | LLY | Eli Lilly and Company | 2.82% |
| 4 | COST | Costco Wholesale Corp | 2.72% |
| 5 | GOOGL | Alphabet Inc Class A | 2.81% |
| 6 | V | Visa Inc. Class A | 2.74% |
| 7 | META | Meta Platforms Inc. | 2.49% |
| 8 | WMT | Walmart Inc. | 1.95% |
| 9 | LMT | Lockheed Martin Corporation | 1.84% |
| 10 | TJX | The TJX Companies Inc | 1.93% |
| 1 | REI-UN | RioCan Real Estate Investment Trust | 12.68% |
| 2 | GRT-UN | Granite Real Estate Investment Trust | 11.45% |
| 3 | FCR-UN | First Capital Real Estate Investment Trust | 10.85% |
| 4 | CAR-UN | Canadian Apartment Properties Real Estate Investment Trust | 10.03% |
| 5 | CHP-UN | Choice Properties Real Estate Investment Trust | 8.33% |
| 6 | DIR-UN | Dream Industrial Real Estate Investment Trust | 8.12% |
| 7 | SRU-UN | SmartCentres Real Estate Investment Trust | 7.17% |
| 8 | PMZ-UN | Primaris Retail R.E. Invest. Tr. Units | 5.84% |
| 9 | HR-UN | H&R Real Estate Investment Trust | 5.76% |
| 10 | BEI-UN | Boardwalk Real Estate Investment Trust | 5.01% |
Sector Weights
| Sector | ZPAY | XRE |
|---|---|---|
| Basic Materials | 3.35% | 0.00% |
| Communication Services | 11.18% | 0.00% |
| Consumer Cyclicals | 4.04% | 0.00% |
| Consumer Defensive | 15.70% | 0.00% |
| Energy | 0.00% | 0.00% |
| Financial Services | 9.89% | 0.00% |
| Healthcare | 13.56% | 0.00% |
| Industrials | 7.91% | 0.00% |
| Real Estate | 0.00% | 100.00% |
| Technology | 34.09% | 0.00% |
| Utilities | 0.00% | 0.00% |
About ZPAY
BMO Premium Yield ETF seeks to provide exposure to the performance of a portfolio of U.S. large capitalization companies, primarily by investing in U.S. equity securities and derivative instruments to provide long term capital appreciation, generate income and mitigate downside risk. The Hedged Units of BMO Premium Yield ETF will also invest in or use derivative instruments to seek to hedge U.S. currency exposure.
About XRE
iShares S&P/TSX Capped REIT Index ETF (XRE.TO) is a Canadian-listed ETF traded on the Toronto Stock Exchange. More detailed information will be available soon.
Which ETF is Right for You?
Both ZPAY and XRE are listed on Canadian exchanges and accessible through most Canadian brokerages including Questrade, Wealthsimple Trade, TD Direct, and Interactive Brokers.
Based on the available data, ZPAY scores higher across our tracked metrics including YTD performance, dividend yield, and AUM — though both ETFs warrant individual research before investing.
- Consider your account type (TFSA, RRSP, non-registered) as it can affect dividend taxation.
- Compare management expense ratios (MER) directly on each provider's website.
- Look at average daily trading volume to assess liquidity.
- Review the fund's underlying index and holdings to ensure the exposure matches your goals.
This is not financial advice. Always do your own research or consult a licensed financial advisor before investing.
Frequently Asked Questions
What is the difference between ZPAY and XRE?
ZPAY (BMO Premium Yield ETF) and XRE (iShares S&P/TSX Capped REIT Index ETF) are both Canadian-listed ETFs. Key differences include their AUM ($467M vs $1.03B), dividend yield (6.78% vs 4.43%), and year-to-date performance (+7.01% vs -0.45%).
Is ZPAY better than XRE?
There is no single "better" ETF — it depends on your investment goals. If you prioritise recent performance, ZPAY has outperformed year-to-date. Always review the fund's prospectus and consider your tax situation.
Can I buy ZPAY and XRE on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both ZPAY and XRE should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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