XCSR vs. ZLB ETF Comparison

Comparison of Ishares ESG Advanced MSCI Canada Idx ETF (XCSR) to BMO Low Volatility Canadian Equity ETF (ZLB)

XCSR

Ishares ESG Advanced MSCI Canada Idx ETF

XCSR Description

Each iShares Fund seeks to provide long-term capital growth by replicating, to the extentpossible, the performance, net of expenses, of an ESG-oriented Index selected at thediscretion of BlackRock Canada. Each ESG-oriented Index will generally be comprised ofsecurities of issuers that meet a minimum standard for overall ESG attributes and which arenot materially involved in specified business activities or severe controversies, in each case,as determined by the Index Provider. The current Index for each iShares Fund is identifiedin this prospectus under “Investment Objectives”.

Grade (RS Rating)

Last Trade

$75.96

Average Daily Volume

3,300

Number of Holdings ^*

8

* may have additional holdings in another (foreign) market

ZLB

BMO Low Volatility Canadian Equity ETF

ZLB Description

BMO Low Volatility Canadian Equity ETF seeks to provide exposure to the performance of a portfolio of Canadian equities that have lower sensitivity to market movements with the potential for long-term capital appreciation.

Grade (RS Rating)

Last Trade

$48.24

Average Daily Volume

46,549

Number of Holdings ^*

9

* may have additional holdings in another (foreign) market

Performance

Period	XCSR	ZLB
30 Days	3.56%	-0.90%
60 Days	6.33%	0.04%
90 Days	11.07%	2.84%
12 Months	30.83%	19.06%

1 Overlapping Holdings

	Symbol	Grade	Weight in XCSR	Weight in ZLB	Overlap
	IFC	A	2.43%	2.72%	2.43%

XCSR Overweight 7 Positions Relative to ZLB

	Symbol	Grade	Weight
	SHOP	B	6.88%
	BNS	A	4.76%
	BMO	A	4.67%
	CSU	A	4.65%
	CM	A	4.11%
	AEM	C	2.85%
	SLF	A	2.38%

XCSR Underweight 8 Positions Relative to ZLB

	Symbol	Grade	Weight
	MRU	A	-4.26%
	L	B	-4.24%
	EMP.A	A	-3.76%
	H	C	-3.54%
	X	B	-3.11%
	FTS	A	-3.04%
	WN	C	-2.92%
	TRI	D	-2.79%

XCSR: Top Represented Industries & Keywords

Industries: Banks - Global Software - Application Gold Insurance - Diversified Insurance - Property & Casualty

Keywords: S&P/Tsx 60 Index Bank Financial Financial Services Retail Banking Government ING Group Insurance Investment Banking Banking Products Capital Market Capital Markets Credit Integrated Investment Banks Mobile Software Td Securities Wealth Management

ZLB: Top Represented Industries & Keywords

Industries: Grocery Stores Utilities - Regulated Electric Capital Markets Financial Exchanges Insurance - Property & Casualty

Keywords: Law Drug Financial Food Insurance Investment Trust Pharma Pharmacy Real Estate Real Estate Investment Real Estate Investment Trust Retail Retailers Retailing S&P/Tsx 60 Index Analytics Bank Banking Card Services Credit