VS
Hamilton Canadian Financials Yield Maximizer ETF (HMAX) and BMO Equal Weight Banks Index ETF (ZEB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that HMAX focuses its top 3 sector exposures on Financials, while ZEB leans towards Financials. When evaluating costs, HMAX features a management fee (MER) of 0.65%, compared to 0.25% for ZEB. Performance-wise, HMAX has returned 6.15% year-to-date with +$197 M in net flows, whereas ZEB is at 12.82% with -$917 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
HMAX
ZEB
| AuM | $2,204.52 M | $5,266.41 M |
| Management Fees | 0.65% | 0.25% |
| Exp. ratio | 0.80% | 0.28% |
| Tracking Difference | - | -0.60% |
Historical performance and flows
As of April 24, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | HMAX | +8.49% | +5.76% | +6.15% | +38.66% | +69.64% |
ZEB | +11.34% | +12.03% | +12.82% | +67.83% | +114.74% | |
| Flows | HMAX | +$3 M | +$143 M | +$197 M | +$658 M | +$1,694 M |
ZEB | -$186 M | -$913 M | -$917 M | -$2,240 M | -$1,205 M |
HMAX vs ZEB exposure
Countries
HMAX
Canada
101.40%
ZEB
Canada
100.00%
Sectors
HMAX
Financials
90.60%
Other
9.40%
ZEB
Financials
100.00%
As of April 24, 2026
Top 10 Holdings
HMAX
ROYAL BK CANADA
24.50%
TORONTO DOMINION
17.00%
CA11271J1075
10.80%
BANK OF MONTREAL
10.40%
CDN IMPERIAL BK
9.50%
BNS
9.30%
MANULIFE-S
6.30%
NATIONAL BANK OF CANADA
5.50%
GREAT WEST LIFECO
4.60%
INTACT FINANCIAL
3.50%
ZEB
ROYAL BK CANADA
17.14%
TORONTO DOMINION
17.02%
BNS
16.62%
BANK OF MONTREAL
16.48%
CDN IMPERIAL BK
16.40%
NATIONAL BANK OF CANADA
16.33%
Diversification
HMAX
Total weight of top 10 holdings out of 10 total
101.40%
ZEB
Total weight of top 10 holdings out of 6 total
100.00%
Characteristics
Compare
HMAX
ZEB
| Provider | Hamilton ETFs | BMO |
| Management | Actively managed | Passively 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 | 11.88% | 2.66% |
| Meets ESG criteria | No | No |
| Inception Date | January 20, 2023 | October 20, 2009 |
Frequently asked questions about HMAX and ZEB
Which ETF has performed better year to date: HMAX or ZEB?
As of April 24, 2026, HMAX has returned 6.15% year to date, while ZEB has returned 12.82%. ZEB is ahead on YTD performance.
Which ETF is larger by assets under management: HMAX or ZEB?
As of April 24, 2026, HMAX manages $2.20 B in assets, while ZEB manages $5.27 B. ZEB is the larger fund by AUM.
How are HMAX and ZEB managed?
HMAX is actively managed by Hamilton ETFs. It does not track an index. ZEB is passively managed by BMO. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do HMAX and ZEB emphasize?
HMAX is most exposed to Financials. ZEB is most exposed to Financials.
Which ETF is attracting more investor flows: HMAX or ZEB?
Year to date, HMAX has seen +$197.26 M in net flows, compared with -$917.23 M for ZEB. HMAX has attracted more net investor money so far.
How do the fees of HMAX and ZEB compare?
HMAX has an expense ratio of 0.80%, while ZEB has an expense ratio of 0.28%.
What are the top holdings of HMAX and ZEB?
HMAX's largest holdings include ROYAL BK CANADA and TORONTO DOMINION. ZEB's top holdings include ROYAL BK CANADA, TORONTO DOMINION, and BNS.
Which ETF is more diversified: HMAX or ZEB?
HMAX holds 10 securities, while ZEB holds 6. On holdings count, HMAX is the more diversified portfolio.
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