VS
When evaluating costs, ZPAY features a management fee (MER) of 0.65%, compared to 0.65% for ZWB. Performance-wise, ZPAY has returned 0.96% year-to-date with +$43 M in net flows, whereas ZWB is at 10.55% with +$10 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 | $416.24 M | $4,148.33 M |
| Management Fees | 0.65% | 0.65% |
| Exp. ratio | 0.71% | 0.72% |
| Tracking Difference | - | - |
Historical performance and flows
As of April 24, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZPAY | +3.76% | +0.49% | +0.96% | +12.88% | +32.35% |
ZWB | +9.56% | +9.84% | +10.55% | +54.48% | +83.66% | |
| Flows | ZPAY | +$17 M | +$38 M | +$43 M | +$61 M | +$111 M |
ZWB | -$9 M | +$2 M | +$10 M | -$45 M | -$148 M |
ZPAY vs ZWB exposure
Countries
ZPAY
Exposure data will be available soon
ZWB
Canada
100.12%
Sectors
ZPAY
Exposure data will be available soon
ZWB
Financials
100.12%
As of April 24, 2026
Top 10 Holdings
ZPAY
Exposure data will be available soon
ZWB
TORONTO DOMINION
16.89%
ROYAL BK CANADA
16.86%
BNS
16.70%
BANK OF MONTREAL
16.61%
NATIONAL BANK OF CANADA
16.60%
CDN IMPERIAL BK
16.45%
Diversification
ZPAY
Exposure data will be available soon
ZWB
Total weight of top 10 holdings out of 6 total
100.12%
Characteristics
Frequently asked questions about ZPAY and ZWB
Which ETF has performed better year to date: ZPAY or ZWB?
As of April 24, 2026, ZPAY has returned 0.96% year to date, while ZWB has returned 10.55%. ZWB is ahead on YTD performance.
Which ETF is larger by assets under management: ZPAY or ZWB?
As of April 24, 2026, ZPAY manages $416.24 M in assets, while ZWB manages $4.15 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 +$42.94 M in net flows, compared with +$10.50 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
Unleashing the Potential of Covered Call ETFs
Here's all you need to know about covered call ETFs as a Canadian investor.
Posted on 6/7/2023 by Tony Dong inStock Market
3 Ways to Invest in Canadian Banks with ETFs
ETFs are a very capital-efficient way of gaining exposure to top Canadian bank stocks.
Posted on 2/20/2023 by Tony Dong inBanks
The ETF Market Canada is brought to you by Cboe in partnership with Trackinsight SA who is providing all the data, analysis and editorial content on this site. Unless explicitly stated as such, any information that you receive is not real-time.
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.
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.