ZEM.TO
BMO MSCI Emerging Markets Index ETF
The ETF has been designed to replicate, to the extent possible, the performance of the MSCI Emerging Markets Index, net of expenses
Emerging Market
EQUITY
Passive
MANAGEMENT STYLE
$ 3.7 B
ASSETS UNDER MGMT
25 bp
EXPENSES
Fund Basics
| Inception date | Oct 20, 2009 |
| Regulation | Canadian Mutual Fund Trust (ON) |
| Fund Website | link... |
| Distributions | Annually |
| Currency | CAD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| TAIWAN SEMICONDUCTOR MANUFAC | 12.9 % |
| ISHARES MSCI EMERGING MARKETS ETF | 7.8 % |
| SAMSUNG ELECTRONICS CO LTD | 5.5 % |
| TENCENT HOLDINGS LTD | 3.0 % |
| RELIANCE INDS-SPONS GDR 144A | 3.0 % |
| HYNIX SEMICONDUCTOR INC | 2.9 % |
| ALIBABA GROUP HOLDING LTD. | 2.2 % |
| DELTA ELECTRONICS INC | 1.0 % |
| MEDIATEK INC | 0.9 % |
| CHINA CONSTRUCTION BANK-H | 0.9 % |
Constituent Breakdown
| Number of holdings | 923 |
| Herfindahl-Hirschman Index | 304 |
| Wgt avg mkt cap (mns) | $275,837 |
| Large cap (>$10bn) | 79.4% |
| Mid cap ($2-10bn) | 11.3% |
| Small cap (<$2bn) | 0.5% |
| Developed mkts. | 2.4% |
| Emerging mkts. | 86.7% |
Sector Breakdown
Country Exposure
 |
TAIWAN | 22.1 % |
 |
CHINA | 19.6 % |
 |
SOUTH KOREA | 15.5 % |
 |
INDIA | 12.9 % |
 |
BRAZIL | 4.0 % |
 |
SOUTH AFRICA | 2.5 % |
 |
SAUDI ARABIA | 2.3 % |
 |
MEXICO | 1.5 % |
 |
HONG KONG | 1.1 % |
 |
UAE | 0.8 % |
Historical Performance
Standardized Performance (as of 05/31/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 25.4% | 51.4% | 28.3% | 21.7% | 7.0% | 8.4% | -- | 5.0% |
| Dividend Yield | 0.0% | 3.4% | 3.0% | 3.1% | 2.8% | 2.5% | -- | 2.4% |
| Total Returns | 25.4% | 54.7% | 31.3% | 24.8% | 9.8% | 10.9% | -- | 7.4% | Ann. Volatility | 29.0% | 20.8% | 19.4% | 17.4% | 17.2% | 18.5% | -- | 18.3% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.16 | 42% |
| MSCI EAFE | 1.01 | 52% |
| MSCI Emg Mkts | 0.94 | 79% |
Liquidity Measures
| Avg. volume (000) | 95 |
| ADV traded (mns) | $3 |
| Turnover | 0.1% |
| Avg. Bid/Ask (% of price) | 0.00% |
Technical Indicators
| 30d moving avg. (EMA) | $32.09 |
| Relative strength (RSI) | 61 |
| MACD/Signal | 0.75/0.70 |
| Bollinger Bands (Upper/Lower) | $34.31/$30.93 |
| Short interest (% of AUM) | 0.0% |
Distributions
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. ZEM.TO |
Expenses vs. ZEM.TO |
ALTAR Score™ vs. ZEM.TO |
|---|---|---|---|---|
| CEMI.TO | CIBC MSCI Emerging Markets Equity Index ETF | 80.2% | -3 bp | +0.3% |
| QEE.TO | Mackenzie Emerging Markets Equity Index ETF | 77.3% | -3 bp | +0.2% |
| DMEE.TO | Desjardins Emerging Markets Equity Index ETF | 74.0% | 0 bp | +0.2% |
| XEC.TO | iShares Core MSCI Emerging Markets IMI Index ETF | 73.5% | 0 bp | +0.5% |
| DRME.TO | Desjardins RI Emerging Markets - Net-Zero Emissions Pathway | 70.6% | +10 bp | -0.1% |
| XSEM.TO | iShares ESG Aware MSCI Emerging Markets Index ETF | 56.7% | +6 bp | -0.3% |
| CAEM.TO | Avantis CIBC Emerging Markets Equity ETF | 37.1% | +14 bp | -0.2% |
| ZLE.TO | BMO Low Volatility Emerging Markets Equity ETF | 34.9% | +20 bp | -0.8% |
| DRFE.TO | Desjardins RI Emerging Markets Multifactor - Net-Zero Emissi | 33.7% | +40 bp | -0.1% |
| VA.TO | Vanguard FTSE Developed Asia Pacific All Cap Index ETF | 14.8% | -5 bp | -2.7% |
Risk and Returns: ZEM.TO vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates (CAD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 6/4/2026
Peer Group Comparison
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ETF Research Center Rating
7.9%
ALTAR SCORE™
62nd
PERCENTILE
OVERWEIGHT
ETFRC RATING
There are 212 funds in the Emerging Equity category with an average
ALTAR Score™ of 7.3% and a standard deviation
of 2.2%. ZEM.TO's ALTAR Score™ is approximately 0.3 standard
deviations above the category average. This places ZEM.TO in the 62nd percentile
among funds in the category.
Sell-Side Consensus
$38.17
PRICE TARGET
+10.0%
UPSIDE