VS
Manulife Smart Short Term Bond ETF (TERM) and BMO Equal Weight Banks Index ETF (ZEB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that TERM focuses its top 3 sector exposures on Banks, Insurance and reinsurance, and Other financial institutions, while ZEB leans towards Finance. When evaluating costs, TERM features a management fee (MER) of 0.2%, compared to 0.25% for ZEB. Performance-wise, TERM has returned 1.5% year-to-date with +$387 M in net flows, whereas ZEB is at 32.65% with +$209 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
TERM
ZEB
| AuM | $837.04 M | $7,263.42 M |
| Management Fees | 0.20% | 0.25% |
| Exp. ratio | 0.22% | 0.28% |
| Tracking Difference | - | -0.65% |
Historical performance and flows
As of July 20, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | TERM | +0.10% | +0.72% | +1.50% | +3.63% | +18.92% |
ZEB | +1.98% | +16.51% | +32.65% | +67.24% | +148.29% | |
| Flows | TERM | +$31 M | +$169 M | +$387 M | +$451 M | +$477 M |
ZEB | +$972 M | +$1,234 M | +$209 M | +$894 M | -$431 M |
TERM vs ZEB exposure
Countries
TERM
Canada
65.72%
Other
34.29%
ZEB
Canada
100.00%
Sectors
TERM
Other
34.29%
Banks
10.69%
Insurance and reinsurance
9.11%
Other financial institutions
8.60%
Other
37.32%
ZEB
Finance
100.00%
As of July 20, 2026
Top 10 Holdings
TERM
Royal Bank of Canada, 4.829% 8aug2034, CAD (28)
3.20%
CA04686PAE75
2.94%
Federation des caisses Desjardins du Quebec, 5.467% 17nov2028, CAD
1.72%
Manulife Financial Corporation, 5.409% 10mar2033, CAD
1.70%
CA493271AE05
1.61%
CA05573CAA77
1.60%
iA Financial Corporation, 5.685% 20jun2033, CAD
1.54%
Enbridge, 5.375% 27sep2077, CAD (2017-B)
1.51%
CA023135DV51
1.48%
CA892329CC59
1.41%
ZEB
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
TERM
Total weight of top 10 holdings out of 183 total
18.71%
ZEB
Total weight of top 10 holdings out of 6 total
100.00%
Characteristics
Compare
TERM
ZEB
| Provider | Manulife Investments | BMO |
| 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 | Distributing |
| Trailing 12m distribution yield | 3.34% | 2.29% |
| Meets ESG criteria | No | No |
| Inception Date | November 10, 2020 | October 20, 2009 |
Frequently asked questions about TERM and ZEB
Which ETF has performed better year to date: TERM or ZEB?
As of July 20, 2026, TERM has returned 1.50% year to date, while ZEB has returned 32.65%. ZEB is ahead on YTD performance.
Which ETF is larger by assets under management: TERM or ZEB?
As of July 20, 2026, TERM manages $837.04 M in assets, while ZEB manages $7.26 B. ZEB is the larger fund by AUM.
How are TERM and ZEB managed?
TERM is actively managed by Manulife Investments. It does not track an index. ZEB is passively managed by BMO. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do TERM and ZEB emphasize?
TERM is most exposed to Banks, Insurance and reinsurance, and Other financial institutions. ZEB is most exposed to Finance.
Which ETF is attracting more investor flows: TERM or ZEB?
Year to date, TERM has seen +$386.58 M in net flows, compared with +$209.29 M for ZEB. TERM has attracted more net investor money so far.
How do the fees of TERM and ZEB compare?
TERM has an expense ratio of 0.22%, while ZEB has an expense ratio of 0.28%.
What are the top holdings of TERM and ZEB?
TERM's largest holdings include Royal Bank of Canada, 4.829% 8aug2034, CAD (28) and Federation des caisses Desjardins du Quebec, 5.467% 17nov2028, CAD. ZEB's top holdings include The Toronto-Dominion Bank, Royal Bank of Canada, and Bank of Montreal.
Which ETF is more diversified: TERM or ZEB?
TERM holds 128 securities, while ZEB holds 6. On holdings count, TERM is the more diversified portfolio.
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