VS
When evaluating costs, MGDV features a management fee (MER) of 0.8%, compared to 0.28% for HEWB. Performance-wise, MGDV has returned 7.59% year-to-date with +$9 M in net flows, whereas HEWB is at 32.58% with +$23 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
MGDV
HEWB
| AuM | $374.29 M | $345.76 M |
| Management Fees | 0.80% | 0.28% |
| Exp. ratio | 0.89% | 0.28% |
| Tracking Difference | - | -0.83% |
Historical performance and flows
As of July 17, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | MGDV | +0.94% | +4.30% | +7.59% | +13.70% | - |
HEWB | +1.97% | +16.45% | +32.58% | +67.04% | +147.84% | |
| Flows | MGDV | +$0 M | -$34 M | +$9 M | +$28 M | - |
HEWB | +$4 M | +$16 M | +$23 M | +$22 M | +$25 M |
MGDV vs HEWB exposure
Countries
MGDV
Exposure data will be available soon
HEWB
Canada
100.00%
Sectors
MGDV
Exposure data will be available soon
HEWB
Finance
100.00%
As of July 17, 2026
Top 10 Holdings
MGDV
Exposure data will be available soon
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%
Diversification
MGDV
Exposure data will be available soon
HEWB
Total weight of top 10 holdings out of 6 total
100.00%
Characteristics
Compare
MGDV
HEWB
| Provider | Mackenzie Investments | Global X |
| 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 | Capitalization |
| Trailing 12m distribution yield | 0.84% | 0.00% |
| Meets ESG criteria | Yes | No |
| Inception Date | June 6, 2024 | January 23, 2019 |
Frequently asked questions about MGDV and HEWB
Which ETF has performed better year to date: MGDV or HEWB?
As of July 17, 2026, MGDV has returned 7.59% year to date, while HEWB has returned 32.58%. HEWB is ahead on YTD performance.
Which ETF is larger by assets under management: MGDV or HEWB?
As of July 17, 2026, MGDV manages $374.29 M in assets, while HEWB manages $345.76 M. MGDV is the larger fund by AUM.
How are MGDV and HEWB managed?
MGDV is actively managed by Mackenzie Investments. 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.
Which ETF is attracting more investor flows: MGDV or HEWB?
Year to date, MGDV has seen +$8.79 M in net flows, compared with +$23.13 M for HEWB. HEWB has attracted more net investor money so far.
How do the fees of MGDV and HEWB compare?
MGDV has an expense ratio of 0.89%, while HEWB has an expense ratio of 0.28%.
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