ZSP is the BMO S&P 500 ETF which tracks the performance of the S&P 500. It has $10.5B in AUM, a distribution yield of 1.4%, an MER of 0.09%, and a total return of ~269% over the past 10 years.
ZLU is the BMO Low Volatility US Equity ETF which aims to provide exposure to a low beta weighted portfolio of US stocks. The ETF analyses and includes the 100 least volatile stocks relative to the broader market from a selection of US large cap names. It has $1.5B in AUM, an MER of 0.33%, a yield of 2.4%, and it has a total return of 222% over the past 10 years.
For an investor that is looking for a combination of higher yield, solid growth prospects, but also low volatility relative to the market, ZLU is a good option here, whereas ZSP provides an investor with exposure to the S&P 500, which has solid growth, but can also exhibit high volatility like we saw in 2022. For overall return, we would prefer ZSP with the caveat that it has higher volatility, and for a balance, we like ZLU.