VS
Global X Equal Weight Canadian Banks Index ETF (HBNK) and BMO Covered Call Canadian Banks ETF (ZWB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that HBNK focuses its top 3 sector exposures on Financials, while ZWB leans towards Financials. When evaluating costs, HBNK features a management fee (MER) of 0.09%, compared to 0.65% for ZWB. Performance-wise, HBNK has returned 21.73% year-to-date with -$415 M in net flows, whereas ZWB is at 18.47% with +$14 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
HBNK
ZWB
| AuM | $768.47 M | $4,407.13 M |
| Management Fees | 0.09% | 0.65% |
| Exp. ratio | 0.10% | 0.72% |
| Tracking Difference | -0.41% | - |
Historical performance and flows
As of June 8, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | HBNK | +5.68% | +18.79% | +21.73% | +63.01% | - |
ZWB | +5.15% | +16.29% | +18.47% | +52.16% | +103.67% | |
| Flows | HBNK | +$32 M | -$201 M | -$415 M | -$667 M | - |
ZWB | +$2 M | -$10 M | +$14 M | -$18 M | -$209 M |
HBNK vs ZWB exposure
Countries
HBNK
Canada
99.93%
ZWB
Canada
100.25%
Sectors
HBNK
Financials
99.93%
ZWB
Financials
100.25%
As of June 8, 2026
Top 10 Holdings
HBNK
CDN IMPERIAL BK
17.03%
TORONTO DOMINION
16.96%
NATIONAL BANK OF CANADA
16.65%
ROYAL BK CANADA
16.56%
BANK OF MONTREAL
16.46%
BNS
16.27%
ZWB
NATIONAL BANK OF CANADA
17.03%
CDN IMPERIAL BK
16.97%
TORONTO DOMINION
16.92%
BNS
16.47%
BANK OF MONTREAL
16.44%
ROYAL BK CANADA
16.43%
Diversification
HBNK
Total weight of top 10 holdings out of 6 total
99.93%
ZWB
Total weight of top 10 holdings out of 6 total
100.25%
Characteristics
Compare
HBNK
ZWB
| Provider | Global X | BMO |
| Management | Passively managed | Actively managed |
| Benchmark | Solactive Equal Weight Canada Banks GTR Index - CAD | - |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.75% | 4.93% |
| Meets ESG criteria | No | No |
| Inception Date | July 5, 2023 | January 28, 2011 |
Frequently asked questions about HBNK and ZWB
Which ETF has performed better year to date: HBNK or ZWB?
As of June 8, 2026, HBNK has returned 21.73% year to date, while ZWB has returned 18.47%. HBNK is ahead on YTD performance.
Which ETF is larger by assets under management: HBNK or ZWB?
As of June 8, 2026, HBNK manages $768.47 M in assets, while ZWB manages $4.41 B. ZWB is the larger fund by AUM.
How are HBNK and ZWB managed?
HBNK is passively managed by Global X. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark. ZWB is actively managed by BMO. It does not track an index.
What sectors do HBNK and ZWB emphasize?
HBNK is most exposed to Financials. ZWB is most exposed to Financials.
Which ETF is attracting more investor flows: HBNK or ZWB?
Year to date, HBNK has seen -$414.79 M in net flows, compared with +$14.17 M for ZWB. ZWB has attracted more net investor money so far.
How do the fees of HBNK and ZWB compare?
HBNK has an expense ratio of 0.10%, while ZWB has an expense ratio of 0.72%.
What are the top holdings of HBNK and ZWB?
HBNK's largest holdings include CDN IMPERIAL BK, TORONTO DOMINION, and NATIONAL BANK OF CANADA. ZWB's top holdings include NATIONAL BANK OF CANADA, CDN IMPERIAL BK, and TORONTO DOMINION.
Which ETF is more diversified: HBNK or ZWB?
HBNK holds 6 securities, while ZWB holds 6. On holdings count, HBNK is the more diversified portfolio.
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