VS
iShares Core MSCI All Country World ex Canada Index ETF (XAW) and Global X Equal Weight Canadian Banks Index ETF (HBNK) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XAW focuses its top 3 sector exposures on Technology, Finance, and Industrials, while HBNK leans towards Finance. When evaluating costs, XAW features a management fee (MER) of 0.2%, compared to 0.09% for HBNK. Performance-wise, XAW has returned 15.52% year-to-date with +$497 M in net flows, whereas HBNK is at 29.41% with -$487 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
XAW
HBNK
| AuM | $4,658.21 M | $739.96 M |
| Management Fees | 0.20% | 0.09% |
| Exp. ratio | 0.22% | 0.10% |
| Tracking Difference | -0.09% | -0.32% |
Historical performance and flows
As of October 16, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XAW | +1.22% | +1.17% | +15.52% | +16.51% | +80.35% |
HBNK | -0.36% | -5.02% | +29.41% | +45.24% | +166.14% | |
| Flows | XAW | +$54 M | +$203 M | +$497 M | +$727 M | +$1,084 M |
HBNK | -$4 M | -$24 M | -$487 M | -$533 M | -$189 M |
XAW vs HBNK exposure
Countries
XAW
USA
63.01%
Other
36.99%
HBNK
Canada
99.74%
Sectors
XAW
Technology
35.61%
Finance
18.20%
Industrials
9.80%
Healthcare
8.48%
Consumer Non-Cyclicals
8.01%
Other
19.90%
HBNK
Finance
99.74%
As of October 16, 2026
Top 10 Holdings
XAW
NVIDIA Corp.
4.72%
Apple, Inc.
4.11%
Microsoft Corp.
3.33%
Amazon.com, Inc.
2.24%
Alphabet, Inc.
1.76%
Taiwan Semiconductor Manufacturing Co., Ltd.
1.70%
Broadcom Inc.
1.55%
Alphabet, Inc.
1.40%
Meta Platforms, Inc.
1.11%
Micron Technology, Inc.
0.95%
HBNK
The Bank of Nova Scotia
17.48%
The Toronto-Dominion Bank
17.41%
Royal Bank of Canada
17.21%
Bank of Montreal
16.52%
Canadian Imperial Bank of Commerce
15.70%
National Bank of Canada
15.42%
Diversification
XAW
Total weight of top 10 holdings out of 8,012 total
22.86%
HBNK
Total weight of top 10 holdings out of 6 total
99.74%
Characteristics
Compare
XAW
HBNK
| Provider | iShares | Global X |
| Management | Passively managed | Passively managed |
| Benchmark | MSCI ACWI ex Canada IMI Net Total Return 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 | 1.20% | 2.68% |
| Meets ESG criteria | No | No |
| Inception Date | February 10, 2015 | July 5, 2023 |
Frequently asked questions about XAW and HBNK
Which ETF has performed better year to date: XAW or HBNK?
As of October 16, 2026, XAW has returned 15.52% year to date, while HBNK has returned 29.41%. HBNK is ahead on YTD performance.
Which ETF is larger by assets under management: XAW or HBNK?
As of October 16, 2026, XAW manages $4.66 B in assets, while HBNK manages $739.96 M. XAW is the larger fund by AUM.
How are XAW and HBNK managed?
XAW is passively managed by iShares. It tracks the MSCI ACWI ex Canada IMI Net Total Return Index - CAD benchmark. HBNK is passively managed by Global X. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do XAW and HBNK emphasize?
XAW is most exposed to Technology, Finance, and Industrials. HBNK is most exposed to Finance.
Which ETF is attracting more investor flows: XAW or HBNK?
Year to date, XAW has seen +$497.01 M in net flows, compared with -$486.68 M for HBNK. XAW has attracted more net investor money so far.
How do the fees of XAW and HBNK compare?
XAW has an expense ratio of 0.22%, while HBNK has an expense ratio of 0.10%.
What are the top holdings of XAW and HBNK?
XAW's largest holdings include NVIDIA Corp., Apple, Inc., and Microsoft Corp.. HBNK's top holdings include The Bank of Nova Scotia, The Toronto-Dominion Bank, and Royal Bank of Canada.
Which ETF is more diversified: XAW or HBNK?
XAW holds 7899 securities, while HBNK holds 6. On holdings count, XAW is the more diversified portfolio.
Recent articles about XAW and HBNK
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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.