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Compare HAMILTON CHAMPIONS Canadian Bank Equal-Weight Index ETF (HEB) vs BMO Equal Weight Banks Index ETF (ZEB) to find the best fit for your portfolio. HEB and ZEB provide the same top sector exposures: Finance. When evaluating costs, HEB features a management fee (MER) of 0.19%, compared to 0.25% for ZEB. Performance-wise, HEB has returned 32.06% year-to-date with -$7 M in net flows, whereas ZEB is at 32.01% with +$1 B. 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
ZEB
| AuM | $1,332.30 M | $8,079.04 M |
| Management Fees | 0.19% | 0.25% |
| Exp. ratio | 0.05% | 0.28% |
| Tracking Difference | -0.42% | -0.53% |
Historical performance and flows
As of November 5, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | HEB | +3.37% | -1.15% | +32.06% | +44.55% | +171.84% |
ZEB | +3.36% | -1.17% | +32.01% | +44.45% | +171.32% | |
| Flows | HEB | -$18 M | -$91 M | -$7 M | +$37 M | +$55 M |
ZEB | +$960 M | +$922 M | +$1,149 M | +$1,694 M | +$346 M |
HEB vs ZEB exposure
Countries
HEB
Canada
99.94%
ZEB
Canada
100.00%
Sectors
HEB
Finance
99.94%
ZEB
Finance
100.00%
As of November 5, 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%
ZEB
The Bank of Nova Scotia
17.14%
The Toronto-Dominion Bank
16.99%
Bank of Montreal
16.79%
Canadian Imperial Bank of Commerce
16.49%
Royal Bank of Canada
16.45%
National Bank of Canada
16.14%
Diversification
HEB
Total weight of top 10 holdings out of 6 total
99.94%
ZEB
Total weight of top 10 holdings out of 6 total
100.00%
Characteristics
Compare
HEB
ZEB
| Provider | Hamilton ETFs | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | Solactive Equal Weight Canada Banks GTR Index - CAD | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.70% | 2.34% |
| Meets ESG criteria | No | No |
| Inception Date | April 3, 2023 | October 20, 2009 |
Frequently asked questions about HEB and ZEB
Which ETF has performed better year to date: HEB or ZEB?
As of November 5, 2026, HEB has returned 32.06% year to date, while ZEB has returned 32.01%. HEB is ahead on YTD performance.
Which ETF is larger by assets under management: HEB or ZEB?
As of November 5, 2026, HEB manages $1.33 B in assets, while ZEB manages $8.08 B. ZEB is the larger fund by AUM.
How are HEB and ZEB managed?
HEB is passively managed by Hamilton ETFs. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark. ZEB is passively managed by BMO. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do HEB and ZEB emphasize?
HEB is most exposed to Finance. ZEB is most exposed to Finance.
Which ETF is attracting more investor flows: HEB or ZEB?
Year to date, HEB has seen -$7.50 M in net flows, compared with +$1,149.36 M for ZEB. ZEB has attracted more net investor money so far.
How do the fees of HEB and ZEB compare?
HEB has an expense ratio of 0.05%, while ZEB has an expense ratio of 0.28%.
What are the top holdings of HEB and ZEB?
HEB's largest holdings include The Bank of Nova Scotia, The Toronto-Dominion Bank, and Bank of Montreal. ZEB's top holdings include The Bank of Nova Scotia, The Toronto-Dominion Bank, and Bank of Montreal.
Which ETF is more diversified: HEB or ZEB?
HEB holds 6 securities, while ZEB holds 6. On holdings count, HEB is the more diversified portfolio.
Recent articles about HEB and ZEB
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