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Compare BMO Equal Weight Banks Index ETF (ZEB) vs Global X Equal Weight Canadian Banks Index ETF (HBNK) to find the best fit for your portfolio. ZEB and HBNK provide the same top sector exposures: Finance. When evaluating costs, ZEB features a management fee (MER) of 0.25%, compared to 0.09% for HBNK. Performance-wise, ZEB has returned 28.01% year-to-date with -$132 M in net flows, whereas HBNK is at 28.1% with -$514 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
HBNK
| AuM | $6,654.06 M | $709.46 M |
| Management Fees | 0.25% | 0.09% |
| Exp. ratio | 0.28% | 0.10% |
| Tracking Difference | -0.62% | -0.42% |
Historical performance and flows
As of August 21, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZEB | -3.95% | +6.88% | +28.01% | +57.18% | +153.53% |
HBNK | -3.93% | +6.91% | +28.10% | +57.37% | +154.68% | |
| Flows | ZEB | -$341 M | +$1,083 M | -$132 M | +$303 M | -$1,304 M |
HBNK | -$51 M | -$82 M | -$514 M | -$870 M | -$77 M |
ZEB vs HBNK exposure
Countries
ZEB
Canada
100.00%
HBNK
Canada
99.94%
Sectors
ZEB
Finance
100.00%
HBNK
Finance
99.94%
As of August 21, 2026
Top 10 Holdings
ZEB
The Toronto-Dominion Bank
17.42%
Royal Bank of Canada
17.32%
Bank of Montreal
17.15%
The Bank of Nova Scotia
16.61%
Canadian Imperial Bank of Commerce
15.79%
National Bank of Canada
15.70%
HBNK
The Toronto-Dominion Bank
17.41%
Royal Bank of Canada
17.34%
Bank of Montreal
17.04%
The Bank of Nova Scotia
16.51%
Canadian Imperial Bank of Commerce
15.85%
National Bank of Canada
15.79%
Diversification
ZEB
Total weight of top 10 holdings out of 6 total
100.00%
HBNK
Total weight of top 10 holdings out of 6 total
99.94%
Characteristics
Compare
ZEB
HBNK
| Provider | BMO | Global X |
| Management | Passively managed | Passively managed |
| Benchmark | Solactive Equal Weight Canada Banks GTR Index - CAD | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.38% | 2.66% |
| Meets ESG criteria | No | No |
| Inception Date | October 20, 2009 | July 5, 2023 |
Frequently asked questions about ZEB and HBNK
Which ETF has performed better year to date: ZEB or HBNK?
As of August 21, 2026, ZEB has returned 28.01% year to date, while HBNK has returned 28.10%. HBNK is ahead on YTD performance.
Which ETF is larger by assets under management: ZEB or HBNK?
As of August 21, 2026, ZEB manages $6.65 B in assets, while HBNK manages $709.46 M. ZEB is the larger fund by AUM.
How are ZEB and HBNK managed?
ZEB is passively managed by BMO. It tracks the Solactive Equal Weight Canada Banks GTR 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 ZEB and HBNK emphasize?
ZEB is most exposed to Finance. HBNK is most exposed to Finance.
Which ETF is attracting more investor flows: ZEB or HBNK?
Year to date, ZEB has seen -$131.81 M in net flows, compared with -$513.54 M for HBNK. ZEB has attracted more net investor money so far.
How do the fees of ZEB and HBNK compare?
ZEB has an expense ratio of 0.28%, while HBNK has an expense ratio of 0.10%.
What are the top holdings of ZEB and HBNK?
ZEB's largest holdings include The Toronto-Dominion Bank, Royal Bank of Canada, and Bank of Montreal. HBNK's top holdings include The Toronto-Dominion Bank, Royal Bank of Canada, and Bank of Montreal.
Which ETF is more diversified: ZEB or HBNK?
ZEB holds 6 securities, while HBNK holds 6. On holdings count, ZEB is the more diversified portfolio.
Recent articles about ZEB and HBNK
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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.