VS
When evaluating costs, HCAL features a management fee (MER) of 0.65%, compared to 0.55% for XFN. Performance-wise, HCAL has returned 41.6% year-to-date with +$3 M in net flows, whereas XFN is at 24.51% with -$123 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
HCAL
XFN
| AuM | $1,094.61 M | $2,309.47 M |
| Management Fees | 0.65% | 0.55% |
| Exp. ratio | 2.08% | 0.61% |
| Tracking Difference | - | -1.03% |
Historical performance and flows
As of July 27, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | HCAL | +1.91% | +22.09% | +41.60% | +86.80% | +195.60% |
XFN | +2.24% | +16.37% | +24.51% | +48.04% | +129.03% | |
| Flows | HCAL | -$6 M | +$3 M | +$3 M | -$1 M | -$7 M |
XFN | -$48 M | -$84 M | -$123 M | -$93 M | -$328 M |
HCAL vs XFN exposure
Countries
HCAL
Exposure data will be available soon
XFN
Canada
98.54%
Sectors
HCAL
Exposure data will be available soon
XFN
Finance
99.87%
As of July 27, 2026
Top 10 Holdings
HCAL
Exposure data will be available soon
XFN
Royal Bank of Canada
22.74%
The Toronto-Dominion Bank
15.97%
Bank of Montreal
9.73%
The Bank of Nova Scotia
8.39%
Canadian Imperial Bank of Commerce
8.33%
Brookfield Corp.
7.16%
Manulife Financial Corp.
5.32%
National Bank of Canada
4.78%
Sun Life Financial, Inc.
3.42%
Intact Financial Corp.
2.87%
Diversification
HCAL
Exposure data will be available soon
XFN
Total weight of top 10 holdings out of 23 total
88.71%
Characteristics
Compare
HCAL
XFN
| Provider | Hamilton ETFs | iShares |
| Management | Passively managed | Passively managed |
| Benchmark | Solactive Canadian Bank Mean Reversion GTR Index - CAD | S&P/TSX Capped Financials Total Return Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 3.08% | 1.96% |
| Meets ESG criteria | No | No |
| Inception Date | October 14, 2020 | March 23, 2001 |
Frequently asked questions about HCAL and XFN
Which ETF has performed better year to date: HCAL or XFN?
As of July 27, 2026, HCAL has returned 41.60% year to date, while XFN has returned 24.51%. HCAL is ahead on YTD performance.
Which ETF is larger by assets under management: HCAL or XFN?
As of July 27, 2026, HCAL manages $1.09 B in assets, while XFN manages $2.31 B. XFN is the larger fund by AUM.
How are HCAL and XFN managed?
HCAL is passively managed by Hamilton ETFs. It tracks the Solactive Canadian Bank Mean Reversion GTR Index - CAD benchmark. XFN is passively managed by iShares. It tracks the S&P/TSX Capped Financials Total Return Index - CAD benchmark.
Which ETF is attracting more investor flows: HCAL or XFN?
Year to date, HCAL has seen +$3.43 M in net flows, compared with -$123.47 M for XFN. HCAL has attracted more net investor money so far.
How do the fees of HCAL and XFN compare?
HCAL has an expense ratio of 2.08%, while XFN has an expense ratio of 0.61%.
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