VS
iShares S&P/TSX Capped Financials Index ETF (XFN) and BMO Covered Call Canadian Banks ETF (ZWB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XFN focuses its top 3 sector exposures on Financials, while ZWB leans towards Financials. When evaluating costs, XFN features a management fee (MER) of 0.55%, compared to 0.65% for ZWB. Performance-wise, XFN has returned 20.16% year-to-date with -$85 M in net flows, whereas ZWB is at 24.72% with +$10 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
ZWB
| AuM | $2,269.99 M | $4,635.01 M |
| Management Fees | 0.55% | 0.65% |
| Exp. ratio | 0.61% | 0.72% |
| Tracking Difference | -0.98% | - |
Historical performance and flows
As of June 17, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XFN | +9.66% | +22.56% | +20.16% | +51.40% | +130.64% |
ZWB | +9.60% | +23.08% | +24.72% | +59.92% | +110.87% | |
| Flows | XFN | -$95 M | -$129 M | -$85 M | -$106 M | -$388 M |
ZWB | -$16 M | -$9 M | +$10 M | -$7 M | -$217 M |
XFN vs ZWB exposure
Countries
XFN
Canada
99.71%
ZWB
Canada
100.25%
Sectors
XFN
Financials
89.78%
Other
10.22%
ZWB
Financials
100.25%
As of June 17, 2026
Top 10 Holdings
XFN
ROYAL BK CANADA
21.23%
TORONTO DOMINION
15.27%
BANK OF MONTREAL
9.08%
CDN IMPERIAL BK
8.75%
CA11271J1075
8.41%
BNS
8.10%
MANULIFE-S
5.57%
NATIONAL BANK OF CANADA
4.95%
SUN LIFE FINL
3.37%
FAIRFAX FINANCIAL HOLDINGS
3.01%
ZWB
NATIONAL BANK OF CANADA
17.03%
CDN IMPERIAL BK
16.97%
TORONTO DOMINION
16.92%
BNS
16.47%
BANK OF MONTREAL
16.44%
ROYAL BK CANADA
16.43%
Diversification
XFN
Total weight of top 10 holdings out of 24 total
87.74%
ZWB
Total weight of top 10 holdings out of 6 total
100.25%
Characteristics
Compare
XFN
ZWB
| Provider | iShares | BMO |
| Management | Passively managed | Actively managed |
| Benchmark | S&P/TSX Capped Financials Total Return Index - CAD | - |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.03% | 4.68% |
| Meets ESG criteria | No | No |
| Inception Date | March 23, 2001 | January 28, 2011 |
Frequently asked questions about XFN and ZWB
Which ETF has performed better year to date: XFN or ZWB?
As of June 17, 2026, XFN has returned 20.16% year to date, while ZWB has returned 24.72%. ZWB is ahead on YTD performance.
Which ETF is larger by assets under management: XFN or ZWB?
As of June 17, 2026, XFN manages $2.27 B in assets, while ZWB manages $4.64 B. ZWB is the larger fund by AUM.
How are XFN and ZWB managed?
XFN is passively managed by iShares. It tracks the S&P/TSX Capped Financials Total Return Index - CAD benchmark. ZWB is actively managed by BMO. It does not track an index.
What sectors do XFN and ZWB emphasize?
XFN is most exposed to Financials. ZWB is most exposed to Financials.
Which ETF is attracting more investor flows: XFN or ZWB?
Year to date, XFN has seen -$84.94 M in net flows, compared with +$9.70 M for ZWB. ZWB has attracted more net investor money so far.
How do the fees of XFN and ZWB compare?
XFN has an expense ratio of 0.61%, while ZWB has an expense ratio of 0.72%.
What are the top holdings of XFN and ZWB?
XFN's largest holdings include ROYAL BK CANADA and TORONTO DOMINION. ZWB's top holdings include NATIONAL BANK OF CANADA, CDN IMPERIAL BK, and TORONTO DOMINION.
Which ETF is more diversified: XFN or ZWB?
XFN holds 23 securities, while ZWB holds 6. On holdings count, XFN is the more diversified portfolio.
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