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Compare iShares S&P/TSX Capped Financials Index ETF (XFN) vs Hamilton Canadian Bank Equal-Weight Index ETF (HEB) to find the best fit for your portfolio. XFN and HEB provide the same top sector exposures: Finance. When evaluating costs, XFN features a management fee (MER) of 0.55%, compared to 0.19% for HEB. Performance-wise, XFN has returned 25.94% year-to-date with -$95 M in net flows, whereas HEB is at 35.82% with +$100 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
XFN
HEB
| AuM | $2,365.22 M | $1,496.47 M |
| Management Fees | 0.55% | 0.19% |
| Exp. ratio | 0.61% | 0.25% |
| Tracking Difference | -1.03% | -0.44% |
Historical performance and flows
As of July 17, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XFN | +4.81% | +16.64% | +25.94% | +50.14% | +135.53% |
HEB | +6.04% | +19.90% | +35.82% | +71.53% | +158.39% | |
| Flows | XFN | -$10 M | -$30 M | -$95 M | -$84 M | -$318 M |
HEB | +$40 M | +$84 M | +$100 M | +$147 M | +$178 M |
XFN vs HEB exposure
Countries
XFN
Canada
98.35%
HEB
Canada
100.00%
Sectors
XFN
Finance
99.85%
HEB
Finance
100.00%
As of July 17, 2026
Top 10 Holdings
XFN
Royal Bank of Canada
22.08%
The Toronto-Dominion Bank
15.81%
Bank of Montreal
9.45%
Canadian Imperial Bank of Commerce
8.35%
Brookfield Corp.
8.27%
The Bank of Nova Scotia
8.15%
Manulife Financial Corp.
5.28%
National Bank of Canada
4.67%
Sun Life Financial, Inc.
3.28%
Intact Financial Corp.
2.87%
HEB
The Toronto-Dominion Bank
17.52%
Royal Bank of Canada
17.09%
Bank of Montreal
16.85%
The Bank of Nova Scotia
16.38%
Canadian Imperial Bank of Commerce
16.27%
National Bank of Canada
15.89%
Diversification
XFN
Total weight of top 10 holdings out of 24 total
88.20%
HEB
Total weight of top 10 holdings out of 6 total
100.00%
Characteristics
Compare
XFN
HEB
| Provider | iShares | Hamilton ETFs |
| Management | Passively managed | Passively managed |
| Benchmark | S&P/TSX Capped Financials 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 | 1.94% | 2.53% |
| Meets ESG criteria | No | No |
| Inception Date | March 23, 2001 | April 3, 2023 |
Frequently asked questions about XFN and HEB
Which ETF has performed better year to date: XFN or HEB?
As of July 17, 2026, XFN has returned 25.94% year to date, while HEB has returned 35.82%. HEB is ahead on YTD performance.
Which ETF is larger by assets under management: XFN or HEB?
As of July 17, 2026, XFN manages $2.37 B in assets, while HEB manages $1.50 B. XFN is the larger fund by AUM.
How are XFN and HEB managed?
XFN is passively managed by iShares. It tracks the S&P/TSX Capped Financials Total Return Index - CAD benchmark. HEB is passively managed by Hamilton ETFs. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do XFN and HEB emphasize?
XFN is most exposed to Finance. HEB is most exposed to Finance.
Which ETF is attracting more investor flows: XFN or HEB?
Year to date, XFN has seen -$94.64 M in net flows, compared with +$100.29 M for HEB. HEB has attracted more net investor money so far.
How do the fees of XFN and HEB compare?
XFN has an expense ratio of 0.61%, while HEB has an expense ratio of 0.25%.
What are the top holdings of XFN and HEB?
XFN's largest holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and Bank of Montreal. HEB's top holdings include The Toronto-Dominion Bank, Royal Bank of Canada, and Bank of Montreal.
Which ETF is more diversified: XFN or HEB?
XFN holds 24 securities, while HEB holds 6. On holdings count, XFN is the more diversified portfolio.
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