VS
BMO Balanced ESG ETF (ZESG) and Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZESG focuses its top 3 sector exposures on Information Technology, Sovereign, and Municipal, while HEWB leans towards Financials. When evaluating costs, ZESG features a management fee (MER) of 0.18%, compared to 0.28% for HEWB. Performance-wise, ZESG has returned 7.06% year-to-date with +$4 M in net flows, whereas HEWB is at 28.02% with +$14 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
ZESG
HEWB
| AuM | $104.81 M | $324.95 M |
| Management Fees | 0.18% | 0.28% |
| Exp. ratio | 0.20% | 0.28% |
| Tracking Difference | - | -0.78% |
Historical performance and flows
As of June 17, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZESG | +3.63% | +7.60% | +7.06% | +18.72% | +51.15% |
HEWB | +10.08% | +24.67% | +28.02% | +71.33% | +148.16% | |
| Flows | ZESG | +$0 M | +$1 M | +$4 M | +$14 M | +$27 M |
HEWB | +$2 M | +$10 M | +$14 M | +$11 M | +$16 M |
ZESG vs HEWB exposure
Countries
ZESG
Canada
49.13%
USA
37.52%
Other
13.35%
HEWB
Canada
99.99%
Sectors
ZESG
Information Technology
16.90%
Sovereign
10.83%
Municipal
10.54%
Financials
10.07%
Other
51.66%
HEWB
Financials
99.99%
As of June 17, 2026
Top 10 Holdings
ZESG
NVIDIA
5.48%
MICROSOFT-T
3.23%
Canada, Bond 1.25 1jun2030 10Y
2.52%
ALPHABET INC-CL
2.19%
ALPHABET INC-CL
1.82%
TORONTO DOMINION
1.69%
Canada, Bonds 2% 1jun2032, CAD
1.51%
Canada, Bonds 1.5% 1dec2031 10Y
1.48%
SHOPIFY SUBORDINATE VOTING
1.42%
Canada, Bonds 3.5% 1mar2028, CAD
1.37%
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
ZESG
Total weight of top 10 holdings out of 1,477 total
22.71%
HEWB
Total weight of top 10 holdings out of 6 total
99.99%
Characteristics
Compare
ZESG
HEWB
| Provider | BMO | Global X |
| Management | Actively managed | Passively managed |
| Benchmark | - | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity, Fixed Income | Equity |
| Dividend Policy | Distributing | Capitalization |
| Trailing 12m distribution yield | 1.64% | 0.00% |
| Meets ESG criteria | Yes | No |
| Inception Date | January 16, 2020 | January 23, 2019 |
Frequently asked questions about ZESG and HEWB
Which ETF has performed better year to date: ZESG or HEWB?
As of June 17, 2026, ZESG has returned 7.06% year to date, while HEWB has returned 28.02%. HEWB is ahead on YTD performance.
Which ETF is larger by assets under management: ZESG or HEWB?
As of June 17, 2026, ZESG manages $104.81 M in assets, while HEWB manages $324.95 M. HEWB is the larger fund by AUM.
How are ZESG and HEWB managed?
ZESG is actively managed by BMO. It does not track an index. HEWB is passively managed by Global X. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do ZESG and HEWB emphasize?
ZESG is most exposed to Information Technology, Sovereign, and Municipal. HEWB is most exposed to Financials.
Which ETF is attracting more investor flows: ZESG or HEWB?
Year to date, ZESG has seen +$4.31 M in net flows, compared with +$14.05 M for HEWB. HEWB has attracted more net investor money so far.
How do the fees of ZESG and HEWB compare?
ZESG has an expense ratio of 0.20%, while HEWB has an expense ratio of 0.28%.
What are the top holdings of ZESG and HEWB?
ZESG's largest holdings include NVIDIA and ALPHABET INC-CL. HEWB's top holdings include ROYAL BK CANADA, TORONTO DOMINION, and BNS.
Which ETF is more diversified: ZESG or HEWB?
ZESG holds 1349 securities, while HEWB holds 6. On holdings count, ZESG is the more diversified portfolio.
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