VS
BMO Aggregate Bond Index ETF (ZAG) and Global X Equal Weight Canadian Banks Index ETF (HBNK) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZAG focuses its top 3 sector exposures on Municipal, Sovereign, and Government agencies, while HBNK leans towards Financials. When evaluating costs, ZAG features a management fee (MER) of 0.08%, compared to 0.09% for HBNK. Performance-wise, ZAG has returned 0.9% year-to-date with +$611 M in net flows, whereas HBNK is at 21.73% with -$415 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
ZAG
HBNK
| AuM | $12,743.80 M | $768.47 M |
| Management Fees | 0.08% | 0.09% |
| Exp. ratio | 0.09% | 0.10% |
| Tracking Difference | - | -0.41% |
Historical performance and flows
As of June 8, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZAG | -0.07% | +0.02% | +0.90% | +3.02% | +13.55% |
HBNK | +5.68% | +18.79% | +21.73% | +63.01% | - | |
| Flows | ZAG | +$571 M | +$631 M | +$611 M | +$1,593 M | +$6,367 M |
HBNK | +$32 M | -$201 M | -$415 M | -$667 M | - |
ZAG vs HBNK exposure
Countries
ZAG
Canada
99.27%
HBNK
Canada
99.93%
Sectors
ZAG
Municipal
28.61%
Sovereign
24.95%
Other
17.41%
Government agencies
9.35%
Other
19.68%
HBNK
Financials
99.93%
As of June 8, 2026
Top 10 Holdings
ZAG
Canada, Bonds 3% 1jun2034, CAD
4.26%
Canada, Bond 2.25 1jun2029 10Y
3.59%
Province of Quebec, 2.75% 1sep2028, CAD (B124)
2.92%
Canada Housing Trust, 1.1% 15mar2031, CAD (95)
2.65%
Canada, Bond 2.75 1dec2048 30Y
2.43%
Province of Quebec, 3.5% 1dec2048, CAD (B117)
2.42%
Canada Housing Trust, 3.55% 15sep2032, CAD (107)
2.21%
Bank of Montreal, 3.19% 1mar2028, CAD
2.20%
Province of Ontario, 2.9% 2jun2028, CAD (DMTN238)
2.20%
CA135087T461
2.20%
HBNK
CDN IMPERIAL BK
17.03%
TORONTO DOMINION
16.96%
NATIONAL BANK OF CANADA
16.65%
ROYAL BK CANADA
16.56%
BANK OF MONTREAL
16.46%
BNS
16.27%
Diversification
ZAG
Total weight of top 10 holdings out of 88 total
27.07%
HBNK
Total weight of top 10 holdings out of 6 total
99.93%
Characteristics
Compare
ZAG
HBNK
| Provider | BMO | Global X |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Universe 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 | Distributing |
| Trailing 12m distribution yield | 3.44% | 2.75% |
| Meets ESG criteria | No | No |
| Inception Date | January 19, 2010 | July 5, 2023 |
Frequently asked questions about ZAG and HBNK
Which ETF has performed better year to date: ZAG or HBNK?
As of June 8, 2026, ZAG has returned 0.90% year to date, while HBNK has returned 21.73%. HBNK is ahead on YTD performance.
Which ETF is larger by assets under management: ZAG or HBNK?
As of June 8, 2026, ZAG manages $12.74 B in assets, while HBNK manages $768.47 M. ZAG is the larger fund by AUM.
How are ZAG and HBNK managed?
ZAG is passively managed by BMO. It tracks the FTSE Canada Universe Bond TR 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 ZAG and HBNK emphasize?
ZAG is most exposed to Municipal, Sovereign, and Government agencies. HBNK is most exposed to Financials.
Which ETF is attracting more investor flows: ZAG or HBNK?
Year to date, ZAG has seen +$611.11 M in net flows, compared with -$414.79 M for HBNK. ZAG has attracted more net investor money so far.
How do the fees of ZAG and HBNK compare?
ZAG has an expense ratio of 0.09%, while HBNK has an expense ratio of 0.10%.
What are the top holdings of ZAG and HBNK?
ZAG's largest holdings include Canada, Bonds 3% 1jun2034, CAD and Canada, Bond 2.25 1jun2029 10Y. HBNK's top holdings include CDN IMPERIAL BK, TORONTO DOMINION, and NATIONAL BANK OF CANADA.
Which ETF is more diversified: ZAG or HBNK?
ZAG holds 73 securities, while HBNK holds 6. On holdings count, ZAG is the more diversified portfolio.
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