VS
When evaluating costs, MREL features a management fee (MER) of 0.75%, compared to 0.28% for HEWB. Performance-wise, MREL has returned 12.22% year-to-date with +$8 M in net flows, whereas HEWB is at 23.85% with +$14 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
MREL
HEWB
| AuM | $166.39 M | $314.36 M |
| Management Fees | 0.75% | 0.28% |
| Exp. ratio | 1.21% | 0.28% |
| Tracking Difference | - | -0.78% |
Historical performance and flows
As of June 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | MREL | +3.09% | +8.47% | +12.22% | +18.56% | +42.77% |
HEWB | +7.78% | +20.30% | +23.85% | +66.26% | +144.76% | |
| Flows | MREL | +$2 M | +$2 M | +$8 M | +$13 M | +$46 M |
HEWB | +$2 M | +$10 M | +$14 M | +$11 M | +$16 M |
MREL vs HEWB exposure
Countries
MREL
Exposure data will be available soon
HEWB
Canada
99.99%
Sectors
MREL
Exposure data will be available soon
HEWB
Financials
99.99%
As of June 11, 2026
Top 10 Holdings
MREL
Exposure data will be available soon
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
MREL
Exposure data will be available soon
HEWB
Total weight of top 10 holdings out of 6 total
99.99%
Characteristics
Compare
MREL
HEWB
| Provider | Middlefield | 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 | 6.59% | 0.00% |
| Meets ESG criteria | No | No |
| Inception Date | April 19, 2011 | January 23, 2019 |
Frequently asked questions about MREL and HEWB
Which ETF has performed better year to date: MREL or HEWB?
As of June 11, 2026, MREL has returned 12.22% year to date, while HEWB has returned 23.85%. HEWB is ahead on YTD performance.
Which ETF is larger by assets under management: MREL or HEWB?
As of June 11, 2026, MREL manages $166.39 M in assets, while HEWB manages $314.36 M. HEWB is the larger fund by AUM.
How are MREL and HEWB managed?
MREL is actively managed by Middlefield. 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: MREL or HEWB?
Year to date, MREL has seen +$7.51 M in net flows, compared with +$14.05 M for HEWB. HEWB has attracted more net investor money so far.
How do the fees of MREL and HEWB compare?
MREL has an expense ratio of 1.21%, while HEWB has an expense ratio of 0.28%.
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