VS
When evaluating costs, ZEB features a management fee (MER) of 0.25%, compared to 0.65% for HCAL. Performance-wise, ZEB has returned 32.77% year-to-date with +$48 M in net flows, whereas HCAL is at 40.99% with -$2 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
HCAL
| AuM | $7,095.48 M | $1,081.84 M |
| Management Fees | 0.25% | 0.65% |
| Exp. ratio | 0.28% | 2.08% |
| Tracking Difference | -0.62% | - |
Historical performance and flows
As of July 31, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZEB | +1.95% | +15.98% | +32.77% | +68.32% | +146.77% |
HCAL | +2.31% | +19.75% | +40.99% | +88.13% | +191.30% | |
| Flows | ZEB | +$364 M | +$1,061 M | +$48 M | +$292 M | -$759 M |
HCAL | -$10 M | -$4 M | -$2 M | -$6 M | -$12 M |
ZEB vs HCAL exposure
Countries
ZEB
Canada
100.00%
HCAL
Exposure data will be available soon
Sectors
ZEB
Finance
100.00%
HCAL
Exposure data will be available soon
As of July 31, 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%
HCAL
Exposure data will be available soon
Diversification
ZEB
Total weight of top 10 holdings out of 6 total
100.00%
HCAL
Exposure data will be available soon
Characteristics
Compare
ZEB
HCAL
| Provider | BMO | Hamilton ETFs |
| Management | Passively managed | Passively managed |
| Benchmark | Solactive Equal Weight Canada Banks GTR Index - CAD | Solactive Canadian Bank Mean Reversion GTR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.29% | 3.13% |
| Meets ESG criteria | No | No |
| Inception Date | October 20, 2009 | October 14, 2020 |
Frequently asked questions about ZEB and HCAL
Which ETF has performed better year to date: ZEB or HCAL?
As of July 31, 2026, ZEB has returned 32.77% year to date, while HCAL has returned 40.99%. HCAL is ahead on YTD performance.
Which ETF is larger by assets under management: ZEB or HCAL?
As of July 31, 2026, ZEB manages $7.10 B in assets, while HCAL manages $1.08 B. ZEB is the larger fund by AUM.
How are ZEB and HCAL managed?
ZEB is passively managed by BMO. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark. HCAL is passively managed by Hamilton ETFs. It tracks the Solactive Canadian Bank Mean Reversion GTR Index - CAD benchmark.
Which ETF is attracting more investor flows: ZEB or HCAL?
Year to date, ZEB has seen +$48.05 M in net flows, compared with -$1.59 M for HCAL. ZEB has attracted more net investor money so far.
How do the fees of ZEB and HCAL compare?
ZEB has an expense ratio of 0.28%, while HCAL has an expense ratio of 2.08%.
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