VS
iShares U.S. High Yield Bond Index ETF (XHY) and BMO Equal Weight Banks Index ETF (ZEB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XHY focuses its top 3 sector exposures on Finance, Consumer Services, and Industrials, while ZEB leans towards Finance. When evaluating costs, XHY features a management fee (MER) of 0.5%, compared to 0.25% for ZEB. Performance-wise, XHY has returned 1.75% year-to-date with +$335 M in net flows, whereas ZEB is at 30.26% with +$315 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
XHY
ZEB
| AuM | $1,223.46 M | $7,172.10 M |
| Management Fees | 0.50% | 0.25% |
| Exp. ratio | 0.56% | 0.28% |
| Tracking Difference | -0.27% | -0.51% |
Historical performance and flows
As of October 23, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XHY | -1.32% | -1.96% | -1.75% | -0.76% | +21.68% |
ZEB | +0.70% | -1.15% | +30.26% | +44.74% | +180.06% | |
| Flows | XHY | +$101 M | +$132 M | +$335 M | +$375 M | +$888 M |
ZEB | -$401 M | +$56 M | +$315 M | +$1,023 M | -$686 M |
XHY vs ZEB exposure
Countries
XHY
USA
85.65%
Other
14.35%
ZEB
Canada
100.00%
Sectors
XHY
Finance
17.32%
Consumer Services
13.32%
Industrials
9.39%
Energy
8.65%
Non-Energy Materials
7.98%
Business Services
7.24%
Other
36.10%
ZEB
Finance
100.00%
As of October 23, 2026
Top 10 Holdings
XHY
1261229 B.C., 10% 15apr2032, USD
0.51%
Meridian Arc HoldCo, 6.25% 30apr2031, USD
0.48%
EchoStar, 10.75% 30nov2029, USD
0.43%
PR RNO Property Owner 1, 6.5% 1may2031, USD
0.36%
Cloud Software Group, 9% 30sep2029, USD
0.36%
Quikrete Holdings, 6.375% 1mar2032, USD
0.34%
Cloud Software Group, 6.5% 31mar2029, USD
0.33%
Nexstar Media, 6.5% 15sep2033, USD
0.33%
Centene, 4.625% 15dec2029, USD
0.32%
Asurion LLC, 8% 31dec2032, USD
0.30%
ZEB
The Bank of Nova Scotia
17.59%
The Toronto-Dominion Bank
17.41%
Royal Bank of Canada
17.16%
Bank of Montreal
16.64%
Canadian Imperial Bank of Commerce
15.79%
National Bank of Canada
15.42%
Diversification
XHY
Total weight of top 10 holdings out of 1,310 total
3.77%
ZEB
Total weight of top 10 holdings out of 6 total
100.00%
Characteristics
Compare
XHY
ZEB
| Provider | iShares | BMO |
| Management | Passively managed | Passively managed |
| Benchmark | Markit iBoxx USD Liquid High Yield Index - CAD Hedged | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 6.40% | 2.36% |
| Meets ESG criteria | No | No |
| Inception Date | January 21, 2010 | October 20, 2009 |
Frequently asked questions about XHY and ZEB
Which ETF has performed better year to date: XHY or ZEB?
As of October 23, 2026, XHY has returned -1.75% year to date, while ZEB has returned 30.26%. ZEB is ahead on YTD performance.
Which ETF is larger by assets under management: XHY or ZEB?
As of October 23, 2026, XHY manages $1.22 B in assets, while ZEB manages $7.17 B. ZEB is the larger fund by AUM.
How are XHY and ZEB managed?
XHY is passively managed by iShares. It tracks the Markit iBoxx USD Liquid High Yield Index - CAD Hedged benchmark. ZEB is passively managed by BMO. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do XHY and ZEB emphasize?
XHY is most exposed to Finance, Consumer Services, and Industrials. ZEB is most exposed to Finance.
Which ETF is attracting more investor flows: XHY or ZEB?
Year to date, XHY has seen +$335.01 M in net flows, compared with +$315.37 M for ZEB. XHY has attracted more net investor money so far.
How do the fees of XHY and ZEB compare?
XHY has an expense ratio of 0.56%, while ZEB has an expense ratio of 0.28%.
What are the top holdings of XHY and ZEB?
XHY's largest holdings include 1261229 B.C., 10% 15apr2032, USD and Meridian Arc HoldCo, 6.25% 30apr2031, USD. ZEB's top holdings include The Bank of Nova Scotia, The Toronto-Dominion Bank, and Royal Bank of Canada.
Which ETF is more diversified: XHY or ZEB?
XHY holds 1292 securities, while ZEB holds 6. On holdings count, XHY is the more diversified portfolio.
Recent articles about XHY and ZEB
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