XIU launched in 1990 as TIPS (Toronto Index Participation units) — the world's first exchange-traded fund. Now branded as iShares S&P/TSX 60, it holds Canada's 60 largest companies. 0.18% MER. The blueprint every ETF since has copied.
★ 5 of top 10 are banks. XIU is heavily tilted to Canadian financials (~37%) and energy (~17%). Less diversified than US equivalents.
XIU was groundbreaking in 1990. Today, its 0.18% MER is 3x what XIC charges (0.06%) for a broader Canadian index. XIU still wins on liquidity (highest-volume Canadian ETF) and option chains. For pure long-term buy-and-hold of Canadian large-caps, switch to XIC.