VS
Compare BMO Equal Weight Banks Index ETF (ZEB) vs Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB) to find the best fit for your portfolio. ZEB and HEWB provide the same top sector exposures: Financials. When evaluating costs, ZEB features a management fee (MER) of 0.25%, compared to 0.28% for HEWB. Performance-wise, ZEB has returned 15.15% year-to-date with -$1,031 M in net flows, whereas HEWB is at 15.13% with +$12 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
HEWB
| AuM | $5,243.19 M | $290.50 M |
| Management Fees | 0.25% | 0.28% |
| Exp. ratio | 0.28% | 0.28% |
| Tracking Difference | -0.67% | -0.80% |
Historical performance and flows
As of May 8, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZEB | +7.87% | +10.14% | +15.15% | +64.67% | +121.52% |
HEWB | +7.89% | +10.14% | +15.13% | +64.53% | +121.30% | |
| Flows | ZEB | -$289 M | -$565 M | -$1,031 M | -$1,629 M | -$1,467 M |
HEWB | +$5 M | +$9 M | +$12 M | +$7 M | -$3 M |
ZEB vs HEWB exposure
Countries
ZEB
Canada
100.00%
HEWB
Canada
99.99%
Sectors
ZEB
Financials
100.00%
HEWB
Financials
99.99%
As of May 8, 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%
HEWB
ROYAL BK CANADA
17.10%
TORONTO DOMINION
16.90%
BNS
16.65%
BANK OF MONTREAL
16.51%
CDN IMPERIAL BK
16.48%
NATIONAL BANK OF CANADA
16.35%
Diversification
ZEB
Total weight of top 10 holdings out of 6 total
100.00%
HEWB
Total weight of top 10 holdings out of 6 total
99.99%
Characteristics
Compare
ZEB
HEWB
| 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 | Capitalization |
| Trailing 12m distribution yield | 2.62% | 0.00% |
| Meets ESG criteria | No | No |
| Inception Date | October 20, 2009 | January 23, 2019 |
Frequently asked questions about ZEB and HEWB
Which ETF has performed better year to date: ZEB or HEWB?
As of May 8, 2026, ZEB has returned 15.15% year to date, while HEWB has returned 15.13%. ZEB is ahead on YTD performance.
Which ETF is larger by assets under management: ZEB or HEWB?
As of May 8, 2026, ZEB manages $5.24 B in assets, while HEWB manages $290.50 M. ZEB is the larger fund by AUM.
How are ZEB and HEWB managed?
ZEB is passively managed by BMO. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark. HEWB is passively managed by Global X. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do ZEB and HEWB emphasize?
ZEB is most exposed to Financials. HEWB is most exposed to Financials.
Which ETF is attracting more investor flows: ZEB or HEWB?
Year to date, ZEB has seen -$1,030.81 M in net flows, compared with +$12.19 M for HEWB. HEWB has attracted more net investor money so far.
How do the fees of ZEB and HEWB compare?
ZEB has an expense ratio of 0.28%, while HEWB has an expense ratio of 0.28%.
What are the top holdings of ZEB and HEWB?
ZEB's largest holdings include ROYAL BK CANADA, TORONTO DOMINION, and BNS. HEWB's top holdings include ROYAL BK CANADA, TORONTO DOMINION, and BNS.
Which ETF is more diversified: ZEB or HEWB?
ZEB holds 6 securities, while HEWB holds 6. On holdings count, ZEB is the more diversified portfolio.
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