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Compare Hamilton 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 32.74% year-to-date with +$85 M in net flows, whereas CEW is at 31.96% with +$11 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 | $1,447.38 M | $438.16 M |
| Management Fees | 0.19% | 0.55% |
| Exp. ratio | 0.25% | 0.61% |
| Tracking Difference | -0.44% | - |
Historical performance and flows
As of July 30, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | HEB | +0.44% | +16.11% | +32.74% | +67.59% | +147.15% |
CEW | +2.28% | +18.09% | +31.96% | +64.00% | +145.29% | |
| Flows | HEB | +$3 M | +$57 M | +$85 M | +$133 M | +$158 M |
CEW | +$2 M | +$4 M | +$11 M | +$21 M | +$9 M |
HEB vs CEW exposure
Countries
HEB
Canada
99.98%
CEW
Canada
99.85%
Sectors
HEB
Finance
99.98%
CEW
Finance
99.85%
As of July 30, 2026
Top 10 Holdings
HEB
The Toronto-Dominion Bank
17.35%
Royal Bank of Canada
17.35%
Bank of Montreal
17.08%
The Bank of Nova Scotia
16.42%
Canadian Imperial Bank of Commerce
15.89%
National Bank of Canada
15.88%
CEW
Royal Bank of Canada
10.20%
The Toronto-Dominion Bank
10.17%
Canadian Imperial Bank of Commerce
10.15%
Bank of Montreal
10.13%
iA Financial Corp., Inc.
10.12%
Sun Life Financial, Inc.
9.92%
Great-West Lifeco, Inc.
9.89%
The Bank of Nova Scotia
9.84%
Manulife Financial Corp.
9.74%
National Bank of Canada
9.70%
Diversification
HEB
Total weight of top 10 holdings out of 6 total
99.98%
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 | 2.59% | 2.15% |
| 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 July 30, 2026, HEB has returned 32.74% year to date, while CEW has returned 31.96%. HEB is ahead on YTD performance.
Which ETF is larger by assets under management: HEB or CEW?
As of July 30, 2026, HEB manages $1.45 B in assets, while CEW manages $438.16 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 +$85.17 M in net flows, compared with +$11.01 M for CEW. HEB has attracted more net investor money so far.
How do the fees of HEB and CEW compare?
HEB has an expense ratio of 0.25%, while CEW has an expense ratio of 0.61%.
What are the top holdings of HEB and CEW?
HEB's largest holdings include The Toronto-Dominion Bank, Royal Bank of Canada, and Bank of Montreal. CEW's top holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and Canadian Imperial Bank of Commerce.
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.
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