VS
Compare Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB) vs iShares Equal Weight Banc & Lifeco ETF (CEW) to find the best fit for your portfolio. HEWB and CEW provide the same top sector exposures: Finance. When evaluating costs, HEWB features a management fee (MER) of 0.28%, compared to 0.55% for CEW. Performance-wise, HEWB has returned 27.92% year-to-date with +$27 M in net flows, whereas CEW is at 26.49% with +$9 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
HEWB
CEW
| AuM | $337.15 M | $418.27 M |
| Management Fees | 0.28% | 0.55% |
| Exp. ratio | 0.28% | 0.61% |
| Tracking Difference | -0.82% | - |
Historical performance and flows
As of August 21, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | HEWB | -3.97% | +6.81% | +27.92% | +56.97% | +153.07% |
CEW | -3.90% | +8.47% | +26.49% | +52.86% | +151.32% | |
| Flows | HEWB | +$4 M | +$15 M | +$27 M | +$26 M | +$33 M |
CEW | -$4 M | +$2 M | +$9 M | +$21 M | +$8 M |
HEWB vs CEW exposure
Countries
HEWB
Canada
100.00%
CEW
Canada
99.85%
Sectors
HEWB
Finance
100.00%
CEW
Finance
99.85%
As of August 21, 2026
Top 10 Holdings
HEWB
The Toronto-Dominion Bank
17.42%
Royal Bank of Canada
17.32%
Bank of Montreal
17.15%
The Bank of Nova Scotia
16.61%
Canadian Imperial Bank of Commerce
15.79%
National Bank of Canada
15.70%
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
HEWB
Total weight of top 10 holdings out of 6 total
100.00%
CEW
Total weight of top 10 holdings out of 10 total
99.85%
Characteristics
Compare
HEWB
CEW
| Provider | Global X | 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 | Capitalization | Distributing |
| Trailing 12m distribution yield | 0.00% | 2.24% |
| Meets ESG criteria | No | No |
| Inception Date | January 23, 2019 | February 6, 2008 |
Frequently asked questions about HEWB and CEW
Which ETF has performed better year to date: HEWB or CEW?
As of August 21, 2026, HEWB has returned 27.92% year to date, while CEW has returned 26.49%. HEWB is ahead on YTD performance.
Which ETF is larger by assets under management: HEWB or CEW?
As of August 21, 2026, HEWB manages $337.15 M in assets, while CEW manages $418.27 M. CEW is the larger fund by AUM.
How are HEWB and CEW managed?
HEWB is passively managed by Global X. 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 HEWB and CEW emphasize?
HEWB is most exposed to Finance. CEW is most exposed to Finance.
Which ETF is attracting more investor flows: HEWB or CEW?
Year to date, HEWB has seen +$26.84 M in net flows, compared with +$9.28 M for CEW. HEWB has attracted more net investor money so far.
How do the fees of HEWB and CEW compare?
HEWB has an expense ratio of 0.28%, while CEW has an expense ratio of 0.61%.
What are the top holdings of HEWB and CEW?
HEWB'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: HEWB or CEW?
HEWB holds 6 securities, while CEW holds 10. On holdings count, CEW is the more diversified portfolio.
Recent articles about HEWB and CEW
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All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.