VS
When evaluating costs, ZEB features a management fee (MER) of 0.25%, compared to 0.65% for HCAL. Performance-wise, ZEB has returned 14.48% year-to-date with -$1,013 M in net flows, whereas HCAL is at 17.73% with +$3 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 | $5,232.53 M | $914.84 M |
| Management Fees | 0.25% | 0.65% |
| Exp. ratio | 0.28% | 2.08% |
| Tracking Difference | -0.67% | - |
Historical performance and flows
As of May 1, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZEB | +10.87% | +12.99% | +14.48% | +66.34% | +117.81% |
HCAL | +13.52% | +15.94% | +17.73% | +85.52% | +149.18% | |
| Flows | ZEB | -$511 M | -$1,076 M | -$1,013 M | -$1,828 M | -$1,438 M |
HCAL | +$9 M | +$3 M | +$3 M | -$26 M | +$15 M |
ZEB vs HCAL exposure
Countries
ZEB
Canada
100.00%
HCAL
Exposure data will be available soon
Sectors
ZEB
Financials
100.00%
HCAL
Exposure data will be available soon
As of May 1, 2026
Top 10 Holdings
ZEB
ROYAL BK CANADA
17.14%
TORONTO DOMINION
17.02%
BNS
16.62%
BANK OF MONTREAL
16.48%
CDN IMPERIAL BK
16.40%
NATIONAL BANK OF CANADA
16.33%
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 | 2.63% | 3.64% |
| 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 May 1, 2026, ZEB has returned 14.48% year to date, while HCAL has returned 17.73%. HCAL is ahead on YTD performance.
Which ETF is larger by assets under management: ZEB or HCAL?
As of May 1, 2026, ZEB manages $5.23 B in assets, while HCAL manages $914.84 M. 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 -$1,012.88 M in net flows, compared with +$3.16 M for HCAL. HCAL 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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