VS
BMO Mid-Term US IG Corporate Bond Index ETF (ZIC) and Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZIC focuses its top 3 sector exposures on Banks, Pharmaceutical preparation and biotechnology, and Pipelines, while HEWB leans towards Finance. When evaluating costs, ZIC features a management fee (MER) of 0.25%, compared to 0.28% for HEWB. Performance-wise, ZIC has returned 2.22% year-to-date with +$164 M in net flows, whereas HEWB is at 32.58% with +$23 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
ZIC
HEWB
| AuM | $3,661.37 M | $345.76 M |
| Management Fees | 0.25% | 0.28% |
| Exp. ratio | 0.28% | 0.28% |
| Tracking Difference | -0.03% | -0.83% |
Historical performance and flows
As of July 20, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZIC | -1.39% | +2.06% | +2.22% | +6.55% | +25.65% |
HEWB | +1.97% | +16.45% | +32.58% | +67.04% | +147.84% | |
| Flows | ZIC | -$66 M | +$10 M | +$164 M | +$297 M | +$367 M |
HEWB | +$4 M | +$16 M | +$23 M | +$22 M | +$25 M |
ZIC vs HEWB exposure
Countries
ZIC
USA
56.06%
Other
31.95%
Other
11.99%
HEWB
Canada
100.00%
Sectors
ZIC
Other
31.95%
Banks
14.72%
Other
53.33%
HEWB
Finance
100.00%
As of July 20, 2026
Top 10 Holdings
ZIC
US30303MAD48
0.69%
US023135DF00
0.64%
US30303MAH51
0.64%
Bank of America Corporation, 5.468% 23jan2035, USD (N)
0.56%
Bank of America Corporation, 5.288% 25apr2034, USD (N)
0.55%
Bank of America Corporation, 5.015% 22jul2033, USD (N)
0.55%
Pfizer, 4.75% 19may2033, USD
0.54%
US68389XDZ50
0.53%
JP Morgan, 5.35% 1jun2034, USD
0.50%
US79466LAU89
0.49%
HEWB
The Toronto-Dominion Bank
17.42%
Royal Bank of Canada
17.32%
Bank of Montreal
17.15%
The Bank of Nova Scotia
16.61%
Canadian Imperial Bank of Commerce
15.79%
National Bank of Canada
15.70%
Diversification
ZIC
Total weight of top 10 holdings out of 707 total
5.69%
HEWB
Total weight of top 10 holdings out of 6 total
100.00%
Characteristics
Compare
ZIC
HEWB
| Provider | BMO | Global X |
| Management | Passively managed | Passively managed |
| Benchmark | Bloomberg U.S. Investment Grade 5-10 Year Corporate Bond Capped Total Return Index - CAD | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Fixed Income | Equity |
| Dividend Policy | Distributing | Capitalization |
| Trailing 12m distribution yield | 4.35% | 0.00% |
| Meets ESG criteria | No | No |
| Inception Date | March 19, 2013 | January 23, 2019 |
Frequently asked questions about ZIC and HEWB
Which ETF has performed better year to date: ZIC or HEWB?
As of July 20, 2026, ZIC has returned 2.22% year to date, while HEWB has returned 32.58%. HEWB is ahead on YTD performance.
Which ETF is larger by assets under management: ZIC or HEWB?
As of July 20, 2026, ZIC manages $3.66 B in assets, while HEWB manages $345.76 M. ZIC is the larger fund by AUM.
How are ZIC and HEWB managed?
ZIC is passively managed by BMO. It tracks the Bloomberg U.S. Investment Grade 5-10 Year Corporate Bond Capped Total Return 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 ZIC and HEWB emphasize?
ZIC is most exposed to Banks, Pharmaceutical preparation and biotechnology, and Pipelines. HEWB is most exposed to Finance.
Which ETF is attracting more investor flows: ZIC or HEWB?
Year to date, ZIC has seen +$163.69 M in net flows, compared with +$23.13 M for HEWB. ZIC has attracted more net investor money so far.
How do the fees of ZIC and HEWB compare?
ZIC has an expense ratio of 0.28%, while HEWB has an expense ratio of 0.28%.
What are the top holdings of ZIC and HEWB?
ZIC's largest holdings include Bank of America Corporation, 5.468% 23jan2035, USD (N) and Bank of America Corporation, 5.288% 25apr2034, USD (N). HEWB's top holdings include The Toronto-Dominion Bank, Royal Bank of Canada, and Bank of Montreal.
Which ETF is more diversified: ZIC or HEWB?
ZIC holds 505 securities, while HEWB holds 6. On holdings count, ZIC is the more diversified portfolio.
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