VS
iShares S&P/TSX Canadian Preferred Share Index ETF (CPD) and Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that CPD focuses its top 3 sector exposures on Financials, Energy, and Utilities, while HEWB leans towards Financials. When evaluating costs, CPD features a management fee (MER) of 0.45%, compared to 0.28% for HEWB. Performance-wise, CPD has returned 2.45% year-to-date with -$4 M in net flows, whereas HEWB is at 12.81% with +$12 M. 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
CPD
HEWB
| AuM | $1,069.93 M | $284.65 M |
| Management Fees | 0.45% | 0.28% |
| Exp. ratio | 0.49% | 0.28% |
| Tracking Difference | -0.64% | -0.73% |
Historical performance and flows
As of April 24, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | CPD | +2.24% | +2.56% | +2.45% | +19.77% | +49.69% |
HEWB | +11.37% | +12.04% | +12.81% | +67.72% | +114.52% | |
| Flows | CPD | -$7 M | -$8 M | -$4 M | +$20 M | -$177 M |
HEWB | +$8 M | +$9 M | +$12 M | +$7 M | -$3 M |
CPD vs HEWB exposure
Countries
CPD
Canada
97.62%
HEWB
Canada
99.99%
Sectors
CPD
Financials
38.67%
Energy
20.97%
Utilities
16.55%
Other
14.91%
Other
8.89%
HEWB
Financials
99.99%
As of April 24, 2026
Top 10 Holdings
CPD
FORTIS INC CUM RED FXD PRF M
1.70%
TC ENERGY CORP PRF
1.67%
TORONTO DOMINION BANK NON CUM 5 YEAR RATE RESET FIRST PREF SHS CLASS A SERIES 1
1.48%
CANADIAN IMPERIAL BANK OF COMMERCE PRF
1.34%
BANK OF MONTREAL PRF
1.24%
NATIONAL BANK OF CANADA
1.23%
BCE CUM RED FST SRS AK PRF
1.13%
TC ENERGY CORP CUM REDEEM 1ST SRS 1 PRF
1.13%
PEMBINA PIPELINE CORP PRF
1.12%
TC ENERGY CORP SRS 9 CUM RED FIR PRF
1.11%
HEWB
ROYAL BK CANADA
17.10%
TORONTO DOMINION
16.90%
BNS
16.65%
BANK OF MONTREAL
16.51%
CDN IMPERIAL BK
16.48%
NATIONAL BANK OF CANADA
16.35%
Diversification
CPD
Total weight of top 10 holdings out of 153 total
13.14%
HEWB
Total weight of top 10 holdings out of 6 total
99.99%
Characteristics
Compare
CPD
HEWB
| Provider | iShares | Global X |
| Management | Passively managed | Passively managed |
| Benchmark | S&P/TSX Preferred Share Total Return Index - CAD | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Capitalization |
| Trailing 12m distribution yield | 5.00% | 0.00% |
| Meets ESG criteria | No | No |
| Inception Date | April 10, 2007 | January 23, 2019 |
Frequently asked questions about CPD and HEWB
Which ETF has performed better year to date: CPD or HEWB?
As of April 24, 2026, CPD has returned 2.45% year to date, while HEWB has returned 12.81%. HEWB is ahead on YTD performance.
Which ETF is larger by assets under management: CPD or HEWB?
As of April 24, 2026, CPD manages $1.07 B in assets, while HEWB manages $284.65 M. CPD is the larger fund by AUM.
How are CPD and HEWB managed?
CPD is passively managed by iShares. It tracks the S&P/TSX Preferred Share Total Return Index - CAD benchmark. HEWB is passively managed by Global X. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do CPD and HEWB emphasize?
CPD is most exposed to Financials, Energy, and Utilities. HEWB is most exposed to Financials.
Which ETF is attracting more investor flows: CPD or HEWB?
Year to date, CPD has seen -$4.10 M in net flows, compared with +$12.19 M for HEWB. HEWB has attracted more net investor money so far.
How do the fees of CPD and HEWB compare?
CPD has an expense ratio of 0.49%, while HEWB has an expense ratio of 0.28%.
What are the top holdings of CPD and HEWB?
CPD's largest holdings include TC ENERGY CORP PRF and TORONTO-DOMINION BANK PRF. HEWB's top holdings include ROYAL BK CANADA, TORONTO DOMINION, and BNS.
Which ETF is more diversified: CPD or HEWB?
CPD holds 125 securities, while HEWB holds 6. On holdings count, CPD is the more diversified portfolio.
Recent articles about CPD and HEWB
Bank Stocks: An Undervalued Gem?
Bank stocks are poised for growth amid declining inflation and rate cuts.
Posted on 7/29/2024 by ETF Market Canada inBanks
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.