VS
BMO High Yield US Corporate Bond Hedged to CAD Index ETF (ZHY) and Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZHY focuses its top 3 sector exposures on Finance, Industrials, and Energy, while HEWB leans towards Finance. When evaluating costs, ZHY features a management fee (MER) of 0.55%, compared to 0.28% for HEWB. Performance-wise, ZHY has returned 1.49% year-to-date with +$150 M in net flows, whereas HEWB is at 32.57% with +$38 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
ZHY
HEWB
| AuM | $1,498.33 M | $360.77 M |
| Management Fees | 0.55% | 0.28% |
| Exp. ratio | 0.61% | 0.28% |
| Tracking Difference | -0.64% | -0.71% |
Historical performance and flows
As of November 3, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZHY | +0.34% | -2.40% | -1.49% | -0.41% | +17.91% |
HEWB | +3.91% | -0.10% | +32.57% | +44.19% | +172.31% | |
| Flows | ZHY | +$34 M | +$39 M | +$150 M | +$304 M | +$642 M |
HEWB | +$7 M | +$11 M | +$38 M | +$38 M | +$38 M |
ZHY vs HEWB exposure
Countries
ZHY
USA
88.47%
Other
11.53%
HEWB
Canada
100.00%
Sectors
ZHY
Finance
18.65%
Industrials
12.33%
Energy
10.81%
Consumer Services
9.13%
Non-Energy Materials
8.64%
Business Services
7.97%
Other
32.48%
HEWB
Finance
100.00%
As of November 3, 2026
Top 10 Holdings
ZHY
CA05584J1012
102.40%
HEWB
The Bank of Nova Scotia
17.14%
The Toronto-Dominion Bank
16.99%
Bank of Montreal
16.79%
Canadian Imperial Bank of Commerce
16.49%
Royal Bank of Canada
16.45%
National Bank of Canada
16.14%
Diversification
ZHY
Total weight of top 10 holdings out of 1,041 total
102.40%
HEWB
Total weight of top 10 holdings out of 6 total
100.00%
Characteristics
Compare
ZHY
HEWB
| Provider | BMO | Global X |
| Management | Passively managed | Passively managed |
| Benchmark | Bloomberg Capital U.S. High Yield Very Liquid CAD Hedged Total Return Index - CAD | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Other | Direct (Physical) |
| Asset Class | Fixed Income | Equity |
| Dividend Policy | Distributing | Capitalization |
| Trailing 12m distribution yield | 6.85% | 0.00% |
| Meets ESG criteria | No | No |
| Inception Date | October 20, 2009 | January 23, 2019 |
Frequently asked questions about ZHY and HEWB
Which ETF has performed better year to date: ZHY or HEWB?
As of November 3, 2026, ZHY has returned -1.49% year to date, while HEWB has returned 32.57%. HEWB is ahead on YTD performance.
Which ETF is larger by assets under management: ZHY or HEWB?
As of November 3, 2026, ZHY manages $1.50 B in assets, while HEWB manages $360.77 M. ZHY is the larger fund by AUM.
How are ZHY and HEWB managed?
ZHY is passively managed by BMO. It tracks the Bloomberg Capital U.S. High Yield Very Liquid CAD Hedged Total Return Index - CAD benchmark. HEWB is passively managed by Global X. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
Which ETF is more diversified: ZHY or HEWB?
ZHY holds 1 securities, while HEWB holds 6. On holdings count, HEWB is the more diversified portfolio.
Which ETF is attracting more investor flows: ZHY or HEWB?
Year to date, ZHY has seen +$149.60 M in net flows, compared with +$38.16 M for HEWB. ZHY has attracted more net investor money so far.
How do the fees of ZHY and HEWB compare?
ZHY has an expense ratio of 0.61%, while HEWB has an expense ratio of 0.28%.
What sectors do ZHY and HEWB emphasize?
ZHY is most exposed to Finance, Industrials, and Energy. HEWB is most exposed to Finance.
Recent articles about ZHY and HEWB
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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.