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Investment Q&A

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State Street Financial Select Sector SPDR ETF (XLF $54.87)
- $54.87 P/E (TTM): 16.66X Cap: $53.63B
- View XLF Profile
- View Questions on XLF
iShares S&P U.S. Financials Index ETF (XUSF $81.25)
- $81.25 P/E (TTM): 16.53X Cap: $51M
- View XUSF Profile
- View Questions on XUSF
BMO SPDR Financials Select Sector Index ETF (ZXLF $30.92)
- $30.92 P/E (TTM): 16.66X Cap: $4M
- View ZXLF Profile
- View Questions on ZXLF

Q: Do XUSF and ZXLF track the same index in the U.S. ? If a Canadian listed ETF is just owns the US ETF (which actually owns shares), is there a double MER being charged ?

Asked by Thomas on January 02, 2026

5i Research Answer:

If a Canadian ETF owns a fund run by another manager, then there are addtional charges. XLF fees are 0.08%, ZXLF are 0.21%. Yes, the two follow the S&P financial sector select index.

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