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Compare HAMILTON CHAMPIONS Canadian Bank Equal-Weight Index ETF (HEB) vs iShares Equal Weight Banc & Lifeco ETF (CEW) to find the best fit for your portfolio. HEB and CEW provide the same top sector exposures: Finance. When evaluating costs, HEB features a management fee (MER) of 0.19%, compared to 0.55% for CEW. Performance-wise, HEB has returned 36.18% year-to-date with -$14 M in net flows, whereas CEW is at 35.68% with +$10 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
HEB
CEW
| AuM | $1,367.49 M | $446.16 M |
| Management Fees | 0.19% | 0.55% |
| Exp. ratio | 0.05% | 0.61% |
| Tracking Difference | -0.42% | - |
Historical performance and flows
As of November 4, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | HEB | +6.59% | +2.53% | +36.18% | +49.26% | +180.31% |
CEW | +6.01% | +2.60% | +35.68% | +47.44% | +171.30% | |
| Flows | HEB | -$24 M | -$98 M | -$14 M | +$32 M | +$49 M |
CEW | +$14 M | -$1 M | +$10 M | +$16 M | +$17 M |
HEB vs CEW exposure
Countries
HEB
Canada
99.94%
CEW
Canada
99.85%
Sectors
HEB
Finance
99.94%
CEW
Finance
99.85%
As of November 4, 2026
Top 10 Holdings
HEB
The Bank of Nova Scotia
17.13%
The Toronto-Dominion Bank
17.02%
Bank of Montreal
16.74%
Canadian Imperial Bank of Commerce
16.54%
Royal Bank of Canada
16.50%
National Bank of Canada
16.00%
CEW
The Bank of Nova Scotia
10.07%
Royal Bank of Canada
10.07%
The Toronto-Dominion Bank
10.07%
Manulife Financial Corp.
10.06%
Sun Life Financial, Inc.
10.05%
Bank of Montreal
10.03%
Canadian Imperial Bank of Commerce
9.98%
iA Financial Corp., Inc.
9.89%
Great-West Lifeco, Inc.
9.84%
National Bank of Canada
9.79%
Diversification
HEB
Total weight of top 10 holdings out of 6 total
99.94%
CEW
Total weight of top 10 holdings out of 10 total
99.85%
Characteristics
Compare
HEB
CEW
| Provider | Hamilton ETFs | iShares |
| 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 | 2.61% | 2.12% |
| Meets ESG criteria | No | No |
| Inception Date | April 3, 2023 | February 6, 2008 |
Frequently asked questions about HEB and CEW
Which ETF has performed better year to date: HEB or CEW?
As of November 4, 2026, HEB has returned 36.18% year to date, while CEW has returned 35.68%. HEB is ahead on YTD performance.
Which ETF is larger by assets under management: HEB or CEW?
As of November 4, 2026, HEB manages $1.37 B in assets, while CEW manages $446.16 M. HEB is the larger fund by AUM.
How are HEB and CEW managed?
HEB is passively managed by Hamilton ETFs. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark. CEW is actively managed by iShares. It does not track an index.
What sectors do HEB and CEW emphasize?
HEB is most exposed to Finance. CEW is most exposed to Finance.
Which ETF is attracting more investor flows: HEB or CEW?
Year to date, HEB has seen -$13.63 M in net flows, compared with +$9.79 M for CEW. CEW has attracted more net investor money so far.
How do the fees of HEB and CEW compare?
HEB has an expense ratio of 0.05%, while CEW has an expense ratio of 0.61%.
What are the top holdings of HEB and CEW?
HEB's largest holdings include The Bank of Nova Scotia, The Toronto-Dominion Bank, and Bank of Montreal. CEW's top holdings include The Bank of Nova Scotia, Royal Bank of Canada, and The Toronto-Dominion Bank.
Which ETF is more diversified: HEB or CEW?
HEB holds 6 securities, while CEW holds 10. On holdings count, CEW is the more diversified portfolio.
Recent articles about HEB and CEW
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