VS
Global X Defence Tech Index ETF (SHLD) and BMO Equal Weight Banks Index ETF (ZEB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that SHLD focuses its top 3 sector exposures on Industrials and Information Technology, while ZEB leans towards Financials. When evaluating costs, SHLD features a management fee (MER) of 0.49%, compared to 0.25% for ZEB. Performance-wise, SHLD has returned 0.38% year-to-date with +$109 M in net flows, whereas ZEB is at 15.52% with -$1,017 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
SHLD
ZEB
| AuM | $240.51 M | $5,273.71 M |
| Management Fees | 0.49% | 0.25% |
| Exp. ratio | 0.49% | 0.28% |
| Tracking Difference | -1.28% | -0.67% |
Historical performance and flows
As of May 12, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | SHLD | -13.86% | -8.49% | -0.38% | +22.35% | - |
ZEB | +4.94% | +12.72% | +15.52% | +63.06% | +122.25% | |
| Flows | SHLD | -$7 M | +$46 M | +$109 M | +$252 M | - |
ZEB | -$97 M | -$405 M | -$1,017 M | -$1,400 M | -$1,455 M |
SHLD vs ZEB exposure
Countries
SHLD
USA
58.50%
Republic of Korea
8.04%
Other
33.46%
ZEB
Canada
100.00%
Sectors
SHLD
Industrials
85.92%
Information Technology
7.29%
ZEB
Financials
100.00%
As of May 12, 2026
Top 10 Holdings
SHLD
LOCKHEED MARTIN
9.35%
RAYTHEON TECHNOLOGIES CORPORD
7.95%
GENERAL DYNAMICS
7.42%
PALANTIR TECHNOLOGIES
6.10%
RHEINMETALL
6.06%
L3 HARRIS TECHNOLOGIES
4.98%
NORTHROP GRUMMAN
4.96%
BAE SYSTEMS
4.96%
HANWHA AEROSPACE
4.78%
LEONARDO SPA
4.29%
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
SHLD
Total weight of top 10 holdings out of 47 total
60.85%
ZEB
Total weight of top 10 holdings out of 6 total
100.00%
Characteristics
Compare
SHLD
ZEB
| Provider | Global X | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | Global X Defense Tech Index - CAD | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 0.18% | 2.61% |
| Meets ESG criteria | No | No |
| Inception Date | April 30, 2025 | October 20, 2009 |
Frequently asked questions about SHLD and ZEB
Which ETF has performed better year to date: SHLD or ZEB?
As of May 12, 2026, SHLD has returned -0.38% year to date, while ZEB has returned 15.52%. ZEB is ahead on YTD performance.
Which ETF is larger by assets under management: SHLD or ZEB?
As of May 12, 2026, SHLD manages $240.51 M in assets, while ZEB manages $5.27 B. ZEB is the larger fund by AUM.
How are SHLD and ZEB managed?
SHLD is passively managed by Global X. It tracks the Global X Defense Tech Index - CAD benchmark. ZEB is passively managed by BMO. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do SHLD and ZEB emphasize?
SHLD is most exposed to Industrials and Information Technology. ZEB is most exposed to Financials.
Which ETF is attracting more investor flows: SHLD or ZEB?
Year to date, SHLD has seen +$108.79 M in net flows, compared with -$1,017.47 M for ZEB. SHLD has attracted more net investor money so far.
How do the fees of SHLD and ZEB compare?
SHLD has an expense ratio of 0.49%, while ZEB has an expense ratio of 0.28%.
What are the top holdings of SHLD and ZEB?
SHLD's largest holdings include LOCKHEED MARTIN, RAYTHEON TECHNOLOGIES CORPORD, and GENERAL DYNAMICS. ZEB's top holdings include ROYAL BK CANADA, TORONTO DOMINION, and BNS.
Which ETF is more diversified: SHLD or ZEB?
SHLD holds 42 securities, while ZEB holds 6. On holdings count, SHLD is the more diversified portfolio.
Recent articles about SHLD and ZEB
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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.