VS
Compare BMO Equal Weight Banks Index ETF (ZEB) vs Hamilton Canadian Bank Equal-Weight Index ETF (HEB) to find the best fit for your portfolio. ZEB and HEB provide the same top sector exposures: Financials. When evaluating costs, ZEB features a management fee (MER) of 0.25%, compared to 0.19% for HEB. Performance-wise, ZEB has returned 21.68% year-to-date with -$1,123 M in net flows, whereas HEB is at 21.71% with +$49 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
HEB
| AuM | $5,430.65 M | $1,295.82 M |
| Management Fees | 0.25% | 0.19% |
| Exp. ratio | 0.28% | 0.25% |
| Tracking Difference | -0.62% | -0.38% |
Historical performance and flows
As of June 8, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZEB | +5.67% | +18.78% | +21.68% | +62.80% | +140.12% |
HEB | +5.67% | +18.78% | +21.71% | +63.03% | +140.59% | |
| Flows | ZEB | -$9 M | -$208 M | -$1,123 M | -$1,066 M | -$1,888 M |
HEB | +$12 M | +$24 M | +$49 M | +$104 M | +$136 M |
ZEB vs HEB exposure
Countries
ZEB
Canada
100.00%
HEB
Canada
100.10%
Sectors
ZEB
Financials
100.00%
HEB
Financials
100.10%
As of June 8, 2026
Top 10 Holdings
ZEB
TORONTO DOMINION
17.02%
CDN IMPERIAL BK
16.89%
NATIONAL BANK OF CANADA
16.73%
ROYAL BK CANADA
16.71%
BNS
16.37%
BANK OF MONTREAL
16.28%
HEB
ROYAL BK CANADA
17.00%
TORONTO DOMINION
17.00%
BANK OF MONTREAL
16.70%
BNS
16.60%
CDN IMPERIAL BK
16.50%
NATIONAL BANK OF CANADA
16.30%
Diversification
ZEB
Total weight of top 10 holdings out of 6 total
100.00%
HEB
Total weight of top 10 holdings out of 6 total
100.10%
Characteristics
Compare
ZEB
HEB
| 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 | 2.48% | 2.79% |
| Meets ESG criteria | No | No |
| Inception Date | October 20, 2009 | April 3, 2023 |
Frequently asked questions about ZEB and HEB
Which ETF has performed better year to date: ZEB or HEB?
As of June 8, 2026, ZEB has returned 21.68% year to date, while HEB has returned 21.71%. HEB is ahead on YTD performance.
Which ETF is larger by assets under management: ZEB or HEB?
As of June 8, 2026, ZEB manages $5.43 B in assets, while HEB manages $1.30 B. ZEB is the larger fund by AUM.
How are ZEB and HEB managed?
ZEB is passively managed by BMO. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark. HEB is passively managed by Hamilton ETFs. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do ZEB and HEB emphasize?
ZEB is most exposed to Financials. HEB is most exposed to Financials.
Which ETF is attracting more investor flows: ZEB or HEB?
Year to date, ZEB has seen -$1,122.69 M in net flows, compared with +$48.81 M for HEB. HEB has attracted more net investor money so far.
How do the fees of ZEB and HEB compare?
ZEB has an expense ratio of 0.28%, while HEB has an expense ratio of 0.25%.
What are the top holdings of ZEB and HEB?
ZEB's largest holdings include TORONTO DOMINION, CDN IMPERIAL BK, and NATIONAL BANK OF CANADA. HEB's top holdings include ROYAL BK CANADA, TORONTO DOMINION, and BANK OF MONTREAL.
Which ETF is more diversified: ZEB or HEB?
ZEB holds 6 securities, while HEB holds 6. On holdings count, ZEB is the more diversified portfolio.
Recent articles about ZEB and HEB
Bank Stocks: An Undervalued Gem?
Bank stocks are poised for growth amid declining inflation and rate cuts.
Posted on 7/29/2024 by ETF Market Canada inBanks
The ETF Market Canada is brought to you by Cboe in partnership with Trackinsight SA who is providing all the data, analysis and editorial content on this site. Unless explicitly stated as such, any information that you receive is not real-time.
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.
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.