VS
BMO Long Short US Equity ETF (ZLSU) and Hamilton Canadian Financials Yield Maximizer ETF (HMAX) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZLSU focuses its top 3 sector exposures on Sovereign, Technology, and Finance, while HMAX leans towards Finance. When evaluating costs, ZLSU features a management fee (MER) of 0.73%, compared to 0.65% for HMAX. Performance-wise, ZLSU has returned 9.84% year-to-date with +$115 M in net flows, whereas HMAX is at 18.82% with +$415 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
ZLSU
HMAX
| AuM | $221.36 M | $2,572.45 M |
| Management Fees | 0.73% | 0.65% |
| Exp. ratio | 0.72% | 0.80% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 3, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZLSU | -1.54% | +1.22% | +9.84% | +8.65% | - |
HMAX | -1.10% | +6.91% | +18.82% | +33.21% | +91.70% | |
| Flows | ZLSU | +$0 M | +$20 M | +$115 M | +$115 M | - |
HMAX | +$43 M | +$133 M | +$415 M | +$650 M | +$1,616 M |
ZLSU vs HMAX exposure
Countries
ZLSU
USA
97.61%
HMAX
Canada
100.21%
Sectors
ZLSU
Sovereign
49.29%
Technology
22.36%
Finance
10.88%
Consumer Non-Cyclicals
8.17%
Other
9.30%
HMAX
Finance
100.21%
As of September 3, 2026
Top 10 Holdings
ZLSU
Apple, Inc.
5.58%
USA, Bills 0% 13may2027, USD (364D)
4.61%
USA, Bills 0% 18mar2027, USD (364D)
4.24%
USA, Bills 0% 15apr2027, USD (364D)
4.22%
USA, Bills 0% 10jun2027, USD (364D)
3.58%
USA, Bills 0% 21jan2027, USD (364D)
3.55%
USA, Bills 0% 18feb2027, USD (364D)
3.24%
NVIDIA Corp.
3.12%
USA, Bills 0% 11aug2026, USD (119D)
2.93%
USA, Bills 0% 1oct2026, USD (364D)
2.81%
HMAX
Royal Bank of Canada
24.88%
The Toronto-Dominion Bank
16.81%
Bank of Montreal
10.73%
Canadian Imperial Bank of Commerce
9.16%
The Bank of Nova Scotia
9.10%
Brookfield Corp.
8.84%
Manulife Financial Corp.
6.30%
National Bank of Canada
5.42%
Great-West Lifeco, Inc.
5.08%
Sun Life Financial, Inc.
3.89%
Diversification
ZLSU
Total weight of top 10 holdings out of 209 total
37.87%
HMAX
Total weight of top 10 holdings out of 10 total
100.21%
Characteristics
Compare
ZLSU
HMAX
| Provider | BMO | Hamilton ETFs |
| Management | Actively managed | Actively managed |
| Benchmark | - | - |
| Replication Method | ||
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 0.73% | 11.21% |
| Meets ESG criteria | No | No |
| Inception Date | October 2, 2023 | January 20, 2023 |
Frequently asked questions about ZLSU and HMAX
Which ETF has performed better year to date: ZLSU or HMAX?
As of September 3, 2026, ZLSU has returned 9.84% year to date, while HMAX has returned 18.82%. HMAX is ahead on YTD performance.
Which ETF is larger by assets under management: ZLSU or HMAX?
As of September 3, 2026, ZLSU manages $221.36 M in assets, while HMAX manages $2.57 B. HMAX is the larger fund by AUM.
How are ZLSU and HMAX managed?
ZLSU is actively managed by BMO. It does not track an index. HMAX is actively managed by Hamilton ETFs. It does not track an index.
What sectors do ZLSU and HMAX emphasize?
ZLSU is most exposed to Sovereign, Technology, and Finance. HMAX is most exposed to Finance.
Which ETF is attracting more investor flows: ZLSU or HMAX?
Year to date, ZLSU has seen +$114.67 M in net flows, compared with +$415.23 M for HMAX. HMAX has attracted more net investor money so far.
How do the fees of ZLSU and HMAX compare?
ZLSU has an expense ratio of 0.72%, while HMAX has an expense ratio of 0.80%.
What are the top holdings of ZLSU and HMAX?
ZLSU's largest holdings include Apple, Inc., USA, Bills 0% 13may2027, USD (364D), and USA, Bills 0% 18mar2027, USD (364D). HMAX's top holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and Bank of Montreal.
Which ETF is more diversified: ZLSU or HMAX?
ZLSU holds 208 securities, while HMAX holds 10. On holdings count, ZLSU is the more diversified portfolio.
Recent articles about ZLSU and HMAX
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