VS
iShares Core Canadian Short Term Corporate + Maple Bond Index ETF (XSH) and Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XSH focuses its top 3 sector exposures on Banks, Pipelines, and Communication services, while HEWB leans towards Financials. When evaluating costs, XSH features a management fee (MER) of 0.09%, compared to 0.28% for HEWB. Performance-wise, XSH has returned 0.52% year-to-date with +$196 M in net flows, whereas HEWB is at 14.46% with +$12 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
XSH
HEWB
| AuM | $2,374.69 M | $288.82 M |
| Management Fees | 0.09% | 0.28% |
| Exp. ratio | 0.10% | 0.28% |
| Tracking Difference | -0.11% | -0.80% |
Historical performance and flows
As of May 1, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XSH | +0.34% | -0.04% | +0.52% | +3.54% | +17.46% |
HEWB | +10.90% | +13.00% | +14.46% | +66.21% | +117.59% | |
| Flows | XSH | +$17 M | +$121 M | +$196 M | +$865 M | +$1,091 M |
HEWB | +$8 M | +$9 M | +$12 M | +$7 M | -$3 M |
XSH vs HEWB exposure
Countries
XSH
Canada
93.78%
HEWB
Canada
99.99%
Sectors
XSH
Banks
27.92%
Other
25.15%
Other
46.92%
HEWB
Financials
99.99%
As of May 1, 2026
Top 10 Holdings
XSH
CA06418Y4L93
0.94%
CA779926WF74
0.90%
CA89116C7J09
0.80%
CA13607QQT27
0.79%
Toronto-Dominion Bank, 4.21% 1jun2027, CAD
0.74%
CA06418YXB96
0.73%
Bank of Montreal, 4.709% 7dec2027, CAD
0.70%
Royal Bank of Canada, 4.632% 1may2028, CAD
0.68%
Toronto-Dominion Bank, 4.68% 8jan2029, CAD
0.67%
Bank of Montreal, 4.309% 1jun2027, CAD
0.66%
HEWB
ROYAL BK CANADA
17.10%
TORONTO DOMINION
16.90%
BNS
16.65%
BANK OF MONTREAL
16.51%
CDN IMPERIAL BK
16.48%
NATIONAL BANK OF CANADA
16.35%
Diversification
XSH
Total weight of top 10 holdings out of 616 total
7.60%
HEWB
Total weight of top 10 holdings out of 6 total
99.99%
Characteristics
Compare
XSH
HEWB
| Provider | iShares | Global X |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Universe + Maple Short Term Corporate Bond TR Index - CAD | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Equity |
| Dividend Policy | Distributing | Capitalization |
| Trailing 12m distribution yield | 3.91% | 0.00% |
| Meets ESG criteria | No | No |
| Inception Date | September 13, 2011 | January 23, 2019 |
Frequently asked questions about XSH and HEWB
Which ETF has performed better year to date: XSH or HEWB?
As of May 1, 2026, XSH has returned 0.52% year to date, while HEWB has returned 14.46%. HEWB is ahead on YTD performance.
Which ETF is larger by assets under management: XSH or HEWB?
As of May 1, 2026, XSH manages $2.37 B in assets, while HEWB manages $288.82 M. XSH is the larger fund by AUM.
How are XSH and HEWB managed?
XSH is passively managed by iShares. It tracks the FTSE Canada Universe + Maple Short Term Corporate Bond TR Index - CAD benchmark. HEWB is passively managed by Global X. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do XSH and HEWB emphasize?
XSH is most exposed to Banks, Pipelines, and Communication services. HEWB is most exposed to Financials.
Which ETF is attracting more investor flows: XSH or HEWB?
Year to date, XSH has seen +$196.00 M in net flows, compared with +$12.19 M for HEWB. XSH has attracted more net investor money so far.
How do the fees of XSH and HEWB compare?
XSH has an expense ratio of 0.10%, while HEWB has an expense ratio of 0.28%.
What are the top holdings of XSH and HEWB?
XSH's largest holdings include Toronto-Dominion Bank, 4.21% 1jun2027, CAD and Bank of Montreal, 4.709% 7dec2027, CAD. HEWB's top holdings include ROYAL BK CANADA, TORONTO DOMINION, and BNS.
Which ETF is more diversified: XSH or HEWB?
XSH holds 467 securities, while HEWB holds 6. On holdings count, XSH is the more diversified portfolio.
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