VS
Avantis CIBC All-Equity Asset Allocation ETF (CAGE) and Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that CAGE focuses its top 3 sector exposures on Finance, Technology, and Non-Energy Materials, while HEWB leans towards Finance. When evaluating costs, CAGE features a management fee (MER) of 0.28%, compared to 0.28% for HEWB. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.
NAV Performance and Flows
Key Data
Compare
CAGE
HEWB
| AuM | $1,065.80 M | $332.91 M |
| Management Fees | 0.28% | 0.28% |
| Exp. ratio | 0.28% | 0.28% |
| Tracking Difference | - | -0.70% |
Historical performance and flows
As of October 7, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | CAGE | +0.40% | +1.94% | - | - | - |
HEWB | -4.06% | -6.22% | +24.91% | +39.28% | +156.83% | |
| Flows | CAGE | +$100 M | +$328 M | - | - | - |
HEWB | +$2 M | +$8 M | +$31 M | +$30 M | +$37 M |
CAGE vs HEWB exposure
Countries
CAGE
USA
42.59%
Canada
29.21%
Other
28.20%
HEWB
Canada
100.00%
Sectors
CAGE
Finance
25.88%
Technology
18.97%
Non-Energy Materials
11.30%
Energy
10.62%
Industrials
9.76%
Other
23.46%
HEWB
Finance
100.00%
As of October 7, 2026
Top 10 Holdings
CAGE
NVIDIA Corp.
2.17%
Royal Bank of Canada
2.00%
Apple, Inc.
1.86%
Microsoft Corp.
1.61%
The Toronto-Dominion Bank
1.52%
Amazon.com, Inc.
1.37%
Shopify, Inc.
1.16%
Canadian Natural Resources Ltd.
0.87%
The Bank of Nova Scotia
0.81%
Canadian Imperial Bank of Commerce
0.80%
HEWB
The Bank of Nova Scotia
17.59%
The Toronto-Dominion Bank
17.41%
Royal Bank of Canada
17.16%
Bank of Montreal
16.64%
Canadian Imperial Bank of Commerce
15.79%
National Bank of Canada
15.42%
Diversification
CAGE
Total weight of top 10 holdings out of 7,327 total
14.15%
HEWB
Total weight of top 10 holdings out of 6 total
100.00%
Characteristics
Compare
CAGE
HEWB
| Provider | CIBC | Global X |
| Management | Actively managed | Passively managed |
| Benchmark | - | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | - | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Capitalization |
| Trailing 12m distribution yield | - | 0.00% |
| Meets ESG criteria | No | No |
| Inception Date | March 18, 2026 | January 23, 2019 |
Frequently asked questions about CAGE and HEWB
Which ETF is larger by assets under management: CAGE or HEWB?
As of October 7, 2026, CAGE manages $1.07 B in assets, while HEWB manages $332.91 M. CAGE is the larger fund by AUM.
How are CAGE and HEWB managed?
CAGE is actively managed by CIBC. It does not track an index. HEWB is passively managed by Global X. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do CAGE and HEWB emphasize?
CAGE is most exposed to Finance, Technology, and Non-Energy Materials. HEWB is most exposed to Finance.
How do the fees of CAGE and HEWB compare?
CAGE has an expense ratio of 0.28%, while HEWB has an expense ratio of 0.28%.
What are the top holdings of CAGE and HEWB?
CAGE's largest holdings include NVIDIA Corp., Royal Bank of Canada, and Apple, Inc.. HEWB's top holdings include The Bank of Nova Scotia, The Toronto-Dominion Bank, and Royal Bank of Canada.
Which ETF is more diversified: CAGE or HEWB?
CAGE holds 7283 securities, while HEWB holds 6. On holdings count, CAGE is the more diversified portfolio.
Recent articles about CAGE and HEWB
The ETF Market Canada is brought to you by Cboe in partnership with Trackinsight SA who is providing all the data, analysis and editorial content on this site. Unless explicitly stated as such, any information that you receive is not real-time.
All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.
All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.