VS
Invesco Global Bond ETF (ICGB) and Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ICGB focuses its top 3 sector exposures on Sovereign, Power, and Banks, while HEWB leans towards Financials. When evaluating costs, ICGB features a management fee (MER) of 0.55%, compared to 0.28% for HEWB. Performance-wise, ICGB has returned 1.55% year-to-date with -$2 M in net flows, whereas HEWB is at 15.51% with +$12 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
ICGB
HEWB
| AuM | $160.24 M | $291.45 M |
| Management Fees | 0.55% | 0.28% |
| Exp. ratio | 0.63% | 0.28% |
| Tracking Difference | - | -0.80% |
Historical performance and flows
As of May 12, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ICGB | -0.36% | -2.15% | -1.55% | -0.82% | - |
HEWB | +4.93% | +12.73% | +15.51% | +62.92% | +122.04% | |
| Flows | ICGB | +$1 M | +$77 M | -$2 M | +$18 M | - |
HEWB | +$5 M | +$9 M | +$12 M | +$7 M | -$3 M |
ICGB vs HEWB exposure
Countries
ICGB
USA
52.63%
Canada
21.40%
Other
25.97%
HEWB
Canada
99.99%
Sectors
ICGB
Other
76.52%
Sovereign
16.63%
HEWB
Financials
99.99%
As of May 12, 2026
Top 10 Holdings
ICGB
Netherlands, DSL 0.75% 15jul2027, EUR
2.46%
US01F0606420
2.33%
US01F0326417
2.32%
Germany, Bund 2.6% 15aug2034, EUR
2.24%
JP1103781R44
1.65%
US26951TAA88
1.36%
US076912AA21
1.29%
Japan, JGB 0.2% 20jun2032, JPY
1.27%
Netherlands, DSL 0.25% 15jul2029, EUR
1.22%
France, OAT 3.2% 25may2035, EUR
1.21%
HEWB
ROYAL BK CANADA
17.10%
TORONTO DOMINION
16.90%
BNS
16.65%
BANK OF MONTREAL
16.51%
CDN IMPERIAL BK
16.48%
NATIONAL BANK OF CANADA
16.35%
Diversification
ICGB
Total weight of top 10 holdings out of 1,568 total
17.34%
HEWB
Total weight of top 10 holdings out of 6 total
99.99%
Characteristics
Compare
ICGB
HEWB
| Provider | Invesco | Global X |
| Management | Actively managed | Passively managed |
| Benchmark | - | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Fixed Income | Equity |
| Dividend Policy | Distributing | Capitalization |
| Trailing 12m distribution yield | 0.00% | 0.00% |
| Meets ESG criteria | No | No |
| Inception Date | August 15, 2024 | January 23, 2019 |
Frequently asked questions about ICGB and HEWB
Which ETF has performed better year to date: ICGB or HEWB?
As of May 12, 2026, ICGB has returned -1.55% year to date, while HEWB has returned 15.51%. HEWB is ahead on YTD performance.
Which ETF is larger by assets under management: ICGB or HEWB?
As of May 12, 2026, ICGB manages $160.24 M in assets, while HEWB manages $291.45 M. HEWB is the larger fund by AUM.
How are ICGB and HEWB managed?
ICGB is actively managed by Invesco. It does not track an index. HEWB is passively managed by Global X. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do ICGB and HEWB emphasize?
ICGB is most exposed to Sovereign, Power, and Banks. HEWB is most exposed to Financials.
Which ETF is attracting more investor flows: ICGB or HEWB?
Year to date, ICGB has seen -$1.58 M in net flows, compared with +$12.19 M for HEWB. HEWB has attracted more net investor money so far.
How do the fees of ICGB and HEWB compare?
ICGB has an expense ratio of 0.63%, while HEWB has an expense ratio of 0.28%.
What are the top holdings of ICGB and HEWB?
ICGB's largest holdings include Netherlands, DSL 0.75% 15jul2027, EUR and Germany, Bund 2.6% 15aug2034, EUR. HEWB's top holdings include ROYAL BK CANADA, TORONTO DOMINION, and BNS.
Which ETF is more diversified: ICGB or HEWB?
ICGB holds 523 securities, while HEWB holds 6. On holdings count, ICGB is the more diversified portfolio.
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