VS
BMO Equal Weight Banks Index ETF (ZEB) and BMO Covered Call Canadian Banks ETF (ZWB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZEB focuses its top 3 sector exposures on Financials, while ZWB leans towards Financials. When evaluating costs, ZEB features a management fee (MER) of 0.25%, compared to 0.65% for ZWB. Performance-wise, ZEB has returned 20.62% year-to-date with -$1,218 M in net flows, whereas ZWB is at 17.54% with +$20 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
ZWB
| AuM | $5,297.38 M | $4,401.49 M |
| Management Fees | 0.25% | 0.65% |
| Exp. ratio | 0.28% | 0.72% |
| Tracking Difference | -0.67% | - |
Historical performance and flows
As of May 22, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZEB | +7.53% | +15.10% | +20.62% | +65.53% | +133.76% |
ZWB | +6.89% | +12.64% | +17.54% | +54.21% | +98.60% | |
| Flows | ZEB | -$207 M | -$574 M | -$1,218 M | -$1,169 M | -$1,746 M |
ZWB | +$5 M | +$2 M | +$20 M | -$24 M | -$176 M |
ZEB vs ZWB exposure
Countries
ZEB
Canada
100.00%
ZWB
Canada
100.12%
Sectors
ZEB
Financials
100.00%
ZWB
Financials
100.12%
As of May 22, 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%
ZWB
TORONTO DOMINION
16.89%
ROYAL BK CANADA
16.86%
BNS
16.70%
BANK OF MONTREAL
16.61%
NATIONAL BANK OF CANADA
16.60%
CDN IMPERIAL BK
16.45%
Diversification
ZEB
Total weight of top 10 holdings out of 6 total
100.00%
ZWB
Total weight of top 10 holdings out of 6 total
100.12%
Characteristics
Compare
ZEB
ZWB
| Provider | BMO | BMO |
| Management | Passively managed | Actively managed |
| Benchmark | Solactive Equal Weight Canada Banks GTR Index - CAD | - |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.50% | 4.80% |
| Meets ESG criteria | No | No |
| Inception Date | October 20, 2009 | January 28, 2011 |
Frequently asked questions about ZEB and ZWB
Which ETF has performed better year to date: ZEB or ZWB?
As of May 22, 2026, ZEB has returned 20.62% year to date, while ZWB has returned 17.54%. ZEB is ahead on YTD performance.
Which ETF is larger by assets under management: ZEB or ZWB?
As of May 22, 2026, ZEB manages $5.30 B in assets, while ZWB manages $4.40 B. ZEB is the larger fund by AUM.
How are ZEB and ZWB managed?
ZEB is passively managed by BMO. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark. ZWB is actively managed by BMO. It does not track an index.
What sectors do ZEB and ZWB emphasize?
ZEB is most exposed to Financials. ZWB is most exposed to Financials.
Which ETF is attracting more investor flows: ZEB or ZWB?
Year to date, ZEB has seen -$1,218.47 M in net flows, compared with +$20.04 M for ZWB. ZWB has attracted more net investor money so far.
How do the fees of ZEB and ZWB compare?
ZEB has an expense ratio of 0.28%, while ZWB has an expense ratio of 0.72%.
What are the top holdings of ZEB and ZWB?
ZEB's largest holdings include ROYAL BK CANADA, TORONTO DOMINION, and BNS. ZWB's top holdings include TORONTO DOMINION, ROYAL BK CANADA, and BNS.
Which ETF is more diversified: ZEB or ZWB?
ZEB holds 6 securities, while ZWB holds 6. On holdings count, ZEB is the more diversified portfolio.
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