VS
BMO Core Plus Bond Fund ETF (ZCPB) and Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZCPB focuses its top 3 sector exposures on Municipal, Sovereign, and Banks, while HEWB leans towards Financials. When evaluating costs, ZCPB features a management fee (MER) of 0.5%, compared to 0.28% for HEWB. Performance-wise, ZCPB has returned 2.1% year-to-date with +$499 M in net flows, whereas HEWB is at 29.37% with +$19 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
ZCPB
HEWB
| AuM | $2,907.16 M | $333.79 M |
| Management Fees | 0.50% | 0.28% |
| Exp. ratio | 0.56% | 0.28% |
| Tracking Difference | - | -0.78% |
Historical performance and flows
As of June 19, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZCPB | +2.17% | +1.82% | +2.10% | +4.11% | +15.22% |
HEWB | +11.25% | +28.70% | +29.37% | +72.77% | +150.79% | |
| Flows | ZCPB | +$189 M | +$352 M | +$499 M | +$776 M | +$1,580 M |
HEWB | +$7 M | +$15 M | +$19 M | +$18 M | +$21 M |
ZCPB vs HEWB exposure
Countries
ZCPB
Canada
90.94%
Other
9.06%
HEWB
Canada
99.99%
Sectors
ZCPB
Other
30.25%
Municipal
21.42%
Sovereign
15.16%
Banks
8.20%
Other
24.97%
HEWB
Financials
99.99%
As of June 19, 2026
Top 10 Holdings
ZCPB
Canada, Bonds 3.25% 1jun2035, CAD
5.35%
Province of Ontario, 3.6% 2jun2035, CAD
2.21%
Canada, Bonds 2.75% 1dec2055, CAD
1.86%
Canada, Bonds 3.5% 1dec2057, CAD
1.70%
Province of Quebec, 3.25% 1sep2032, CAD (B131)
1.58%
US91282CPZ85
1.54%
Province of Quebec, 3.5% 1dec2045, CAD (B112)
1.28%
Canada, Bonds 2.5% 1dec2032, CAD
1.23%
CA68333ZBN65
1.00%
Province of Ontario, 3.8% 2dec2034, CAD (DMTN266)
0.97%
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
ZCPB
Total weight of top 10 holdings out of 515 total
18.72%
HEWB
Total weight of top 10 holdings out of 6 total
99.99%
Characteristics
Compare
ZCPB
HEWB
| Provider | BMO | Global X |
| Management | Actively managed | Passively managed |
| Benchmark | - | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Fixed Income | Equity |
| Dividend Policy | Distributing | Capitalization |
| Trailing 12m distribution yield | 2.82% | 0.00% |
| Meets ESG criteria | No | No |
| Inception Date | May 29, 2018 | January 23, 2019 |
Frequently asked questions about ZCPB and HEWB
Which ETF has performed better year to date: ZCPB or HEWB?
As of June 19, 2026, ZCPB has returned 2.10% year to date, while HEWB has returned 29.37%. HEWB is ahead on YTD performance.
Which ETF is larger by assets under management: ZCPB or HEWB?
As of June 19, 2026, ZCPB manages $2.91 B in assets, while HEWB manages $333.79 M. ZCPB is the larger fund by AUM.
How are ZCPB and HEWB managed?
ZCPB is actively managed by BMO. It does not track an index. HEWB is passively managed by Global X. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do ZCPB and HEWB emphasize?
ZCPB is most exposed to Municipal, Sovereign, and Banks. HEWB is most exposed to Financials.
Which ETF is attracting more investor flows: ZCPB or HEWB?
Year to date, ZCPB has seen +$498.70 M in net flows, compared with +$19.45 M for HEWB. ZCPB has attracted more net investor money so far.
How do the fees of ZCPB and HEWB compare?
ZCPB has an expense ratio of 0.56%, while HEWB has an expense ratio of 0.28%.
What are the top holdings of ZCPB and HEWB?
ZCPB's largest holdings include Canada, Bonds 3.25% 1jun2035, CAD and Province of Ontario, 3.6% 2jun2035, CAD. HEWB's top holdings include ROYAL BK CANADA, TORONTO DOMINION, and BNS.
Which ETF is more diversified: ZCPB or HEWB?
ZCPB holds 337 securities, while HEWB holds 6. On holdings count, ZCPB is the more diversified portfolio.
Recent articles about ZCPB and HEWB
Bank Stocks: An Undervalued Gem?
Bank stocks are poised for growth amid declining inflation and rate cuts.
Posted on 7/29/2024 by ETF Market Canada inBanks
HEB ETF Spotlight: Hamilton's Newest Addition to its ETF Offering
Meet HEB, Hamilton’s new low-cost Big Six Canadian Bank ETF.
Posted on 5/2/2023 by ETF Market Canada inETFs
The ETF Market Canada is brought to you by Cboe in partnership with Trackinsight SA who is providing all the data, analysis and editorial content on this site. Unless explicitly stated as such, any information that you receive is not real-time.
All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.
All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.