A side-by-side comparison of BMO S&P US Small Cap Index ETF (ZSML) and TD Q U.S. Small-Mid-Cap Equity ETF (TQSM) to help Canadian investors make an informed decision.
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1-Year Performance
Normalised to 100 at the start — shows relative return over the trailing 12 months.
Head-to-Head Comparison
| Metric | ZSML | TQSM |
|---|---|---|
| YTD Return | +21.84%✓ | +17.02% |
| 1-Day Change | 0.00% | +0.30%✓ |
| 1-Week Change | +1.24%✓ | +1.13% |
| 1-Month Change | +7.32%✓ | +6.89% |
| Current Price | $53.94 | $29.64 |
| AUM | $130M | $927M✓ |
| MER (Expense Ratio) | 0% | 0% |
| Dividend Yield | 1.03%✓ | 0.79% |
| Distribution Frequency | — | — |
| Inception Date | 2020-01-28 | 2019-11-20 |
| Holdings Count | 10 | 10 |
| MorningStar Rating | ★★★★ | ★★★★★ |
| Category | US Small/Mid Cap Equity | US Small/Mid Cap Equity |
| Beta | 1.19 | 0.98 |
| 52-Week High | $54.05 | $29.84 |
| 52-Week Low | $39.11 | $23.25 |
| 50-Day MA | $50.33 | $27.77 |
| 200-Day MA | $46.52 | $26.22 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | ZSML | TQSM |
|---|---|---|
| YTD | +21.84%✓ | +17.02% |
| 1 Year | +37.79%✓ | +27.55% |
| 3 Year | +16.59% | +17.80%✓ |
| 5 Year | +8.99% | +13.74%✓ |
| 10 Year | — | — |
| 1Y Volatility | 10.08% | 8.92% |
| Sharpe Ratio (3Y) | 0.75 | 0.94 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | SMTC | Semtech Corporation | 0.77% |
| 2 | SANM | Sanmina Corporation | 0.74% |
| 3 | VIAV | Viavi Solutions Inc | 0.69% |
| 4 | VSAT | ViaSat Inc | 0.59% |
| 5 | MOH | Molina Healthcare Inc | 0.58% |
| 6 | FORM | FormFactor Inc | 0.56% |
| 7 | ESI | Element Solutions Inc | 0.55% |
| 8 | AGX | Argan Inc | 0.55% |
| 9 | LUMN | Lumen Technologies Inc | 0.53% |
| 10 | MTCH | Match Group Inc | 0.51% |
| 1 | SNEX | Stonex Group Inc | 1.55% |
| 2 | FLEX | Flex Ltd | 1.37% |
| 3 | DINO | HF Sinclair Corp | 1.36% |
| 4 | FBP | First BanCorp. | 1.33% |
| 5 | MLI | Mueller Industries Inc | 1.31% |
| 6 | OVV | Ovintiv Inc | 1.30% |
| 7 | SANM | Sanmina Corporation | 1.30% |
| 8 | USFD | US Foods Holding Corp | 1.27% |
| 9 | EXEL | Exelixis Inc | 1.24% |
| 10 | RGA | Reinsurance Group of America | 1.21% |
Sector Weights
| Sector | ZSML | TQSM |
|---|---|---|
| Basic Materials | 5.06% | 4.69% |
| Communication Services | 3.53% | 1.46% |
| Consumer Cyclicals | 12.52% | 13.70% |
| Consumer Defensive | 3.47% | 6.54% |
| Energy | 5.77% | 5.92% |
| Financial Services | 16.83% | 20.58% |
| Healthcare | 11.22% | 7.72% |
| Industrials | 15.38% | 20.78% |
| Real Estate | 7.70% | 3.17% |
| Technology | 16.59% | 15.03% |
| Utilities | 1.92% | 0.41% |
About ZSML
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About TQSM
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Which ETF is Right for You?
Both ZSML and TQSM 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, ZSML 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 ZSML and TQSM?
ZSML (BMO S&P US Small Cap Index ETF) and TQSM (TD Q U.S. Small-Mid-Cap Equity ETF) are both Canadian-listed ETFs. Key differences include their AUM ($130M vs $927M), dividend yield (1.03% vs 0.79%), and year-to-date performance (+21.84% vs +17.02%).
Is ZSML better than TQSM?
There is no single "better" ETF — it depends on your investment goals. If you prioritise recent performance, ZSML has outperformed year-to-date. Always review the fund's prospectus and consider your tax situation.
Can I buy ZSML and TQSM on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both ZSML and TQSM should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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