VS
Compare BMO Equal Weight Banks Index ETF (ZEB) vs iShares Equal Weight Banc & Lifeco ETF (CEW) to find the best fit for your portfolio. ZEB and CEW provide the same top sector exposures: Financials. When evaluating costs, ZEB features a management fee (MER) of 0.25%, compared to 0.55% for CEW. Performance-wise, ZEB has returned 6.74% year-to-date with -$813 M in net flows, whereas CEW is at 2.37% with +$1 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
ZEB
CEW
| AuM | $5,084.55 M | $334.26 M |
| Management Fees | 0.25% | 0.55% |
| Exp. ratio | 0.28% | 0.61% |
| Tracking Difference | -0.60% | - |
Historical performance and flows
As of April 7, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZEB | +4.20% | +5.34% | +6.74% | +70.90% | +106.45% |
CEW | +3.97% | +1.24% | +2.37% | +50.79% | +101.01% | |
| Flows | ZEB | +$102 M | -$800 M | -$813 M | -$2,228 M | -$1,365 M |
CEW | +$0 M | +$1 M | +$1 M | +$20 M | +$3 M |
ZEB vs CEW exposure
Countries
ZEB
Canada
100.00%
CEW
Canada
99.73%
Sectors
ZEB
Financials
100.00%
CEW
Financials
99.73%
As of April 7, 2026
Top 10 Holdings
ZEB
CDN IMPERIAL BK
17.54%
NATIONAL BANK OF CANADA
17.45%
TORONTO DOMINION
17.23%
BNS
16.23%
BANK OF MONTREAL
15.78%
ROYAL BK CANADA
15.77%
CEW
GREAT WEST LIFECO
10.24%
NATIONAL BANK OF CANADA
10.09%
MANULIFE-S
10.05%
CDN IMPERIAL BK
10.02%
TORONTO DOMINION
10.02%
SUN LIFE FINL
10.01%
BNS
9.99%
IA FINANCIAL CORP
9.94%
BANK OF MONTREAL
9.72%
ROYAL BK CANADA
9.64%
Diversification
ZEB
Total weight of top 10 holdings out of 6 total
100.00%
CEW
Total weight of top 10 holdings out of 10 total
99.73%
Characteristics
Compare
ZEB
CEW
| Provider | BMO | iShares |
| Management | Passively managed | Actively managed |
| Benchmark | Solactive Equal Weight Canada Banks GTR Index - CAD | - |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.81% | 2.73% |
| Meets ESG criteria | No | No |
| Inception Date | October 20, 2009 | February 6, 2008 |
Frequently asked questions about ZEB and CEW
Which ETF has performed better year to date: ZEB or CEW?
As of April 7, 2026, ZEB has returned 6.74% year to date, while CEW has returned 2.37%. ZEB is ahead on YTD performance.
Which ETF is larger by assets under management: ZEB or CEW?
As of April 7, 2026, ZEB manages $5.08 B in assets, while CEW manages $334.26 M. ZEB is the larger fund by AUM.
How are ZEB and CEW managed?
ZEB is passively managed by BMO. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark. CEW is actively managed by iShares. It does not track an index.
What sectors do ZEB and CEW emphasize?
ZEB is most exposed to Financials. CEW is most exposed to Financials.
Which ETF is attracting more investor flows: ZEB or CEW?
Year to date, ZEB has seen -$812.72 M in net flows, compared with +$1.48 M for CEW. CEW has attracted more net investor money so far.
How do the fees of ZEB and CEW compare?
ZEB has an expense ratio of 0.28%, while CEW has an expense ratio of 0.61%.
What are the top holdings of ZEB and CEW?
ZEB's largest holdings include CDN IMPERIAL BK, NATIONAL BANK OF CANADA, and TORONTO DOMINION. CEW's top holdings include GREAT WEST LIFECO, NATIONAL BANK OF CANADA, and MANULIFE-S.
Which ETF is more diversified: ZEB or CEW?
ZEB holds 6 securities, while CEW holds 10. On holdings count, CEW is the more diversified portfolio.
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