VS
Purpose Active Growth Fund (PAGF) and Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that PAGF focuses its top 3 sector exposures on Finance, Industrials, and Technology, while HEWB leans towards Finance. When evaluating costs, PAGF features a management fee (MER) of 0.2%, compared to 0.28% for HEWB. Performance-wise, PAGF has returned 11.06% year-to-date with +$13 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
PAGF
HEWB
| AuM | $207.68 M | $345.76 M |
| Management Fees | 0.20% | 0.28% |
| Exp. ratio | 0.45% | 0.28% |
| Tracking Difference | - | -0.83% |
Historical performance and flows
As of July 20, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | PAGF | -1.39% | +3.81% | +11.06% | +20.84% | - |
HEWB | +1.97% | +16.45% | +32.58% | +67.04% | +147.84% | |
| Flows | PAGF | +$4 M | -$6 M | +$13 M | +$59 M | - |
HEWB | +$4 M | +$16 M | +$23 M | +$22 M | +$25 M |
PAGF vs HEWB exposure
Countries
PAGF
Other
31.84%
Canada
24.12%
Japan
10.10%
USA
8.41%
Other
25.54%
HEWB
Canada
100.00%
Sectors
PAGF
Other
31.82%
Finance
19.82%
Other
48.36%
HEWB
Finance
100.00%
As of July 20, 2026
Top 10 Holdings
PAGF
CA74643B1031
6.92%
US46090E1038
6.85%
CA46137P2026
6.73%
CA74642X1069
3.84%
CA74642E3068
2.51%
Royal Bank of Canada
1.59%
Bank of Montreal
0.95%
The Bank of Nova Scotia
0.89%
The Toronto-Dominion Bank
0.79%
Taiwan Semiconductor Manufacturing Co., Ltd.
0.70%
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
PAGF
Total weight of top 10 holdings out of 16,651 total
31.76%
HEWB
Total weight of top 10 holdings out of 6 total
100.00%
Characteristics
Compare
PAGF
HEWB
| Provider | Purpose Investments | Global X |
| Management | Actively managed | Passively managed |
| Benchmark | - | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity, Fixed Income | Equity |
| Dividend Policy | Distributing | Capitalization |
| Trailing 12m distribution yield | 3.06% | 0.00% |
| Meets ESG criteria | No | No |
| Inception Date | October 13, 2023 | January 23, 2019 |
Frequently asked questions about PAGF and HEWB
Which ETF has performed better year to date: PAGF or HEWB?
As of July 20, 2026, PAGF has returned 11.06% year to date, while HEWB has returned 32.58%. HEWB is ahead on YTD performance.
Which ETF is larger by assets under management: PAGF or HEWB?
As of July 20, 2026, PAGF manages $207.68 M in assets, while HEWB manages $345.76 M. HEWB is the larger fund by AUM.
How are PAGF and HEWB managed?
PAGF is actively managed by Purpose 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.
What sectors do PAGF and HEWB emphasize?
PAGF is most exposed to Finance, Industrials, and Technology. HEWB is most exposed to Finance.
Which ETF is attracting more investor flows: PAGF or HEWB?
Year to date, PAGF has seen +$13.00 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 PAGF and HEWB compare?
PAGF has an expense ratio of 0.45%, while HEWB has an expense ratio of 0.28%.
What are the top holdings of PAGF and HEWB?
PAGF's largest holdings include Royal Bank of Canada and Bank of Montreal. HEWB's top holdings include The Toronto-Dominion Bank, Royal Bank of Canada, and Bank of Montreal.
Which ETF is more diversified: PAGF or HEWB?
PAGF holds 14493 securities, while HEWB holds 6. On holdings count, PAGF is the more diversified portfolio.
Recent articles about PAGF and HEWB
Bank Stocks: An Undervalued Gem?
Bank stocks are poised for growth amid declining inflation and rate cuts.
Posted on 7/29/2024 by ETF Market Canada inBanks
HEB ETF Spotlight: Hamilton's Newest Addition to its ETF Offering
Meet HEB, Hamilton’s new low-cost Big Six Canadian Bank ETF.
Posted on 5/2/2023 by ETF Market Canada inETFs
The ETF Market Canada is brought to you by Cboe in partnership with Trackinsight SA who is providing all the data, analysis and editorial content on this site. Unless explicitly stated as such, any information that you receive is not real-time.
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.
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.