VS
BMO Long Corporate Bond Index ETF (ZLC) and Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZLC focuses its top 3 sector exposures on Utilities, Industrials, and Energy, while HEWB leans towards Finance. When evaluating costs, ZLC features a management fee (MER) of 0.3%, compared to 0.28% for HEWB. Performance-wise, ZLC has returned 0.49% year-to-date with -$168 M in net flows, whereas HEWB is at 33.49% with +$27 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
ZLC
HEWB
| AuM | $283.35 M | $351.83 M |
| Management Fees | 0.30% | 0.28% |
| Exp. ratio | 0.33% | 0.28% |
| Tracking Difference | - | -0.82% |
Historical performance and flows
As of August 5, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZLC | -1.81% | +0.51% | +0.49% | +1.87% | +17.13% |
HEWB | +0.85% | +17.81% | +33.49% | +68.50% | +154.54% | |
| Flows | ZLC | +$3 M | -$8 M | -$168 M | -$228 M | -$12 M |
HEWB | +$7 M | +$15 M | +$27 M | +$26 M | +$33 M |
ZLC vs HEWB exposure
Countries
ZLC
Canada
96.08%
HEWB
Canada
100.00%
Sectors
ZLC
Utilities
37.57%
Industrials
24.08%
Energy
20.96%
Telecommunications
9.33%
Other
8.06%
HEWB
Finance
100.00%
As of August 5, 2026
Top 10 Holdings
ZLC
Hydro One Inc, 4.85% 30nov2054, CAD (58)
9.31%
CU Inc., 4.085% 2sep2044, CAD
7.35%
Enbridge, 4.24% 27aug2042, CAD
4.83%
Pembina Pipeline Corporation, 5.67% 12jan2054, CAD (22)
4.20%
TELUS, 4.85% 5apr2044, CAD (CP)
3.87%
Greater Toronto Airports Authority, 3.26% 1jun2037, CAD (2018-1)
3.67%
TransCanada PipeLines, 4.34% 15oct2049, CAD
3.52%
Greater Toronto Airports Authority, 2.75% 17oct2039, CAD (2019-2)
3.35%
Canadian National Railway Company, 3.6% 1aug2047, CAD
3.34%
Hydro One Inc, 5.49% 16jul2040, CAD
2.90%
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
ZLC
Total weight of top 10 holdings out of 40 total
46.33%
HEWB
Total weight of top 10 holdings out of 6 total
100.00%
Characteristics
Compare
ZLC
HEWB
| Provider | BMO | Global X |
| Management | Passively managed | Passively managed |
| Benchmark | FTSE Canada Long Term Corporate Bond TR Index - CAD | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Equity |
| Dividend Policy | Distributing | Capitalization |
| Trailing 12m distribution yield | 4.66% | 0.00% |
| Meets ESG criteria | No | No |
| Inception Date | January 19, 2010 | January 23, 2019 |
Frequently asked questions about ZLC and HEWB
Which ETF has performed better year to date: ZLC or HEWB?
As of August 5, 2026, ZLC has returned 0.49% year to date, while HEWB has returned 33.49%. HEWB is ahead on YTD performance.
Which ETF is larger by assets under management: ZLC or HEWB?
As of August 5, 2026, ZLC manages $283.35 M in assets, while HEWB manages $351.83 M. HEWB is the larger fund by AUM.
How are ZLC and HEWB managed?
ZLC is passively managed by BMO. It tracks the FTSE Canada Long Term Corporate Bond TR 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 ZLC and HEWB emphasize?
ZLC is most exposed to Utilities, Industrials, and Energy. HEWB is most exposed to Finance.
Which ETF is attracting more investor flows: ZLC or HEWB?
Year to date, ZLC has seen -$168.07 M in net flows, compared with +$26.84 M for HEWB. HEWB has attracted more net investor money so far.
How do the fees of ZLC and HEWB compare?
ZLC has an expense ratio of 0.33%, while HEWB has an expense ratio of 0.28%.
What are the top holdings of ZLC and HEWB?
ZLC's largest holdings include Hydro One Inc, 4.85% 30nov2054, CAD (58), CU Inc., 4.085% 2sep2044, CAD, and Enbridge, 4.24% 27aug2042, CAD. HEWB's top holdings include The Toronto-Dominion Bank, Royal Bank of Canada, and Bank of Montreal.
Which ETF is more diversified: ZLC or HEWB?
ZLC holds 38 securities, while HEWB holds 6. On holdings count, ZLC is the more diversified portfolio.
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