VS
When evaluating costs, ZPAY features a management fee (MER) of 0.65%, compared to 0.65% for ZWB. Performance-wise, ZPAY has returned 7.72% year-to-date with +$51 M in net flows, whereas ZWB is at 25.11% 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
ZPAY
ZWB
| AuM | $439.18 M | $4,603.33 M |
| Management Fees | 0.65% | 0.65% |
| Exp. ratio | 0.71% | 0.72% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 10, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZPAY | -1.69% | +2.98% | +7.72% | +11.11% | +34.58% |
ZWB | -2.85% | +5.09% | +25.11% | +42.80% | +117.20% | |
| Flows | ZPAY | -$2 M | +$5 M | +$51 M | +$66 M | +$97 M |
ZWB | -$21 M | +$25 M | +$38 M | +$35 M | -$244 M |
ZPAY vs ZWB exposure
Countries
ZPAY
Exposure data will be available soon
ZWB
Canada
100.03%
Sectors
ZPAY
Exposure data will be available soon
ZWB
Finance
100.03%
As of September 10, 2026
Top 10 Holdings
ZPAY
Exposure data will be available soon
ZWB
Bank of Montreal
17.17%
Royal Bank of Canada
17.06%
The Toronto-Dominion Bank
16.82%
The Bank of Nova Scotia
16.57%
National Bank of Canada
16.29%
Canadian Imperial Bank of Commerce
16.13%
Diversification
ZPAY
Exposure data will be available soon
ZWB
Total weight of top 10 holdings out of 6 total
100.03%
Characteristics
Frequently asked questions about ZPAY and ZWB
Which ETF has performed better year to date: ZPAY or ZWB?
As of September 10, 2026, ZPAY has returned 7.72% year to date, while ZWB has returned 25.11%. ZWB is ahead on YTD performance.
Which ETF is larger by assets under management: ZPAY or ZWB?
As of September 10, 2026, ZPAY manages $439.18 M in assets, while ZWB manages $4.60 B. ZWB is the larger fund by AUM.
How are ZPAY and ZWB managed?
ZPAY is actively managed by BMO. It does not track an index. ZWB is actively managed by BMO. It does not track an index.
Which ETF is attracting more investor flows: ZPAY or ZWB?
Year to date, ZPAY has seen +$51.12 M in net flows, compared with +$38.08 M for ZWB. ZPAY has attracted more net investor money so far.
How do the fees of ZPAY and ZWB compare?
ZPAY has an expense ratio of 0.71%, while ZWB has an expense ratio of 0.72%.
Recent articles about ZPAY and ZWB
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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.