VS
When evaluating costs, GCBD features a management fee (MER) of 0.3%, compared to 0.28% for HEWB. Performance-wise, GCBD has returned 0.2% year-to-date with -$9 M in net flows, whereas HEWB is at 30.2% with +$32 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
GCBD
HEWB
| AuM | $45.59 M | $348.74 M |
| Management Fees | 0.30% | 0.28% |
| Exp. ratio | 0.38% | 0.28% |
| Tracking Difference | - | -0.74% |
Historical performance and flows
As of September 8, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | GCBD | -0.30% | -0.91% | -0.20% | -0.00% | +14.77% |
HEWB | -2.17% | +7.03% | +30.20% | +51.71% | +161.59% | |
| Flows | GCBD | +$0 M | +$1 M | -$9 M | -$13 M | -$22 M |
HEWB | +$6 M | +$20 M | +$32 M | +$32 M | +$39 M |
GCBD vs HEWB exposure
Countries
GCBD
Exposure data will be available soon
HEWB
Canada
100.00%
Sectors
GCBD
Exposure data will be available soon
HEWB
Finance
100.00%
As of September 8, 2026
Top 10 Holdings
GCBD
Exposure data will be available soon
HEWB
Royal Bank of Canada
17.39%
Bank of Montreal
17.03%
The Toronto-Dominion Bank
16.96%
The Bank of Nova Scotia
16.51%
Canadian Imperial Bank of Commerce
16.09%
National Bank of Canada
16.03%
Diversification
GCBD
Exposure data will be available soon
HEWB
Total weight of top 10 holdings out of 6 total
100.00%
Characteristics
Compare
GCBD
HEWB
| Provider | Guardian Capital | Global X |
| Management | Actively managed | Passively managed |
| Benchmark | - | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Fixed Income | Equity |
| Dividend Policy | Distributing | Capitalization |
| Trailing 12m distribution yield | 3.30% | 0.00% |
| Meets ESG criteria | No | No |
| Inception Date | March 30, 2021 | January 23, 2019 |
Frequently asked questions about GCBD and HEWB
Which ETF has performed better year to date: GCBD or HEWB?
As of September 8, 2026, GCBD has returned -0.20% year to date, while HEWB has returned 30.20%. HEWB is ahead on YTD performance.
Which ETF is larger by assets under management: GCBD or HEWB?
As of September 8, 2026, GCBD manages $45.59 M in assets, while HEWB manages $348.74 M. HEWB is the larger fund by AUM.
How are GCBD and HEWB managed?
GCBD is actively managed by Guardian Capital. 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.
Which ETF is attracting more investor flows: GCBD or HEWB?
Year to date, GCBD has seen -$8.79 M in net flows, compared with +$32.44 M for HEWB. HEWB has attracted more net investor money so far.
How do the fees of GCBD and HEWB compare?
GCBD has an expense ratio of 0.38%, while HEWB has an expense ratio of 0.28%.
Recent articles about GCBD and HEWB
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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.