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XIC vs XIU vs ZCN

Updated October 10, 2026 · StockSignalCheck

XIC, ZCN and XIU are the best-known ways to own the Canadian stock market in one ETF. XIC and ZCN hold the whole S&P/TSX Capped Composite, about 220 companies. XIU holds only the S&P/TSX 60, the 60 largest. The biggest practical difference is the fee.

Figures were checked in October 2026 and change over time, so treat them as approximate and check the provider's own page before investing. This page compares features; it isn't a recommendation to buy any fund or use any broker.

Side by side

Source: fund data compiled by Cboe Canada (etfmarket.cboe.com), early October 2026. "Fee" is the management fee; the total MER is usually about 0.01–0.02 points higher. Yield is the trailing 12-month distribution yield and changes with prices and payouts.

What actually differs

1. Fees. XIC and ZCN cost about 0.05–0.06% a year. XIU costs about three times as much. On $10,000, that's roughly $6 a year versus $18.

2. Number of companies. The 60 largest companies make up most of the Canadian market's value, so XIU and XIC behave very similarly. XIC and ZCN add about 160 mid-sized companies, which gives slightly broader diversification.

3. Trading volume. XIU is one of the most heavily traded ETFs in Canada, which matters to institutions and active traders who use it for large orders and options. For a long-term investor buying a few thousand dollars at a time, all three trade easily.

What they have in common

• Canada only. The Canadian market leans heavily on financials and energy, with relatively little technology or health care. Most investors combine a Canadian ETF with US and international funds, or use an all-in-one ETF like XEQT or VEQT.
• No US withholding tax on the dividends, since the companies are Canadian. In a non-registered account, the dividends qualify for the dividend tax credit.

Choosing between them

For a long-term investor, XIC or ZCN gives broader coverage at a lower fee. XIU mainly makes sense for traders who value its trading volume and options market. XIC and ZCN are near twins, so choosing between those two is mostly a matter of which provider you prefer.

Want a dividend tilt instead? Compare VDY and XEI. Want US stocks too? See VFV vs XUS vs ZSP.

Official fund pages

• iShares: XIC
• BMO: ZCN
• iShares: XIU

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This guide is for education only. It isn't personalized financial, investment or tax advice, and nothing here is a recommendation to buy or sell any security. Investing involves risk, including the possible loss of your money.