VS
When evaluating costs, ZEB features a management fee (MER) of 0.25%, compared to 0.65% for HCAL. Performance-wise, ZEB has returned 29.73% year-to-date with +$564 M in net flows, whereas HCAL is at 36.75% with -$40 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 | $7,417.32 M | $1,007.92 M |
| Management Fees | 0.25% | 0.65% |
| Exp. ratio | 0.28% | 0.82% |
| Tracking Difference | -0.54% | - |
Historical performance and flows
As of September 15, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZEB | -4.74% | +3.24% | +29.73% | +49.04% | +151.43% |
HCAL | -5.98% | +3.67% | +36.75% | +61.78% | +198.47% | |
| Flows | ZEB | +$295 M | +$1,698 M | +$564 M | +$1,332 M | -$328 M |
HCAL | -$34 M | -$45 M | -$40 M | -$45 M | -$61 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 September 15, 2026
Top 10 Holdings
ZEB
Royal Bank of Canada
17.39%
Bank of Montreal
17.03%
The Toronto-Dominion Bank
16.96%
The Bank of Nova Scotia
16.51%
Canadian Imperial Bank of Commerce
16.09%
National Bank of Canada
16.03%
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 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 | 2.36% | 3.26% |
| 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 September 15, 2026, ZEB has returned 29.73% year to date, while HCAL has returned 36.75%. HCAL is ahead on YTD performance.
Which ETF is larger by assets under management: ZEB or HCAL?
As of September 15, 2026, ZEB manages $7.42 B in assets, while HCAL manages $1.01 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 Equal Weight Canada Banks GTR Index - CAD benchmark.
Which ETF is attracting more investor flows: ZEB or HCAL?
Year to date, ZEB has seen +$564.21 M in net flows, compared with -$40.14 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 0.82%.
Recent articles about ZEB and HCAL
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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.