VS
BMO Short-Term US TIPS Index ETF (ZTIP) and Global X Equal Weight Canadian Banks Index ETF (HBNK) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZTIP focuses its top 3 sector exposures on Sovereign, while HBNK leans towards Finance. When evaluating costs, ZTIP features a management fee (MER) of 0.15%, compared to 0.09% for HBNK. Performance-wise, ZTIP has returned 4.2% year-to-date with +$26 M in net flows, whereas HBNK is at 29.54% with -$483 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
ZTIP
HBNK
| AuM | $43.11 M | $743.98 M |
| Management Fees | 0.15% | 0.09% |
| Exp. ratio | 0.17% | 0.10% |
| Tracking Difference | - | -0.32% |
Historical performance and flows
As of October 20, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZTIP | +0.71% | -0.19% | +4.20% | +1.91% | +18.07% |
HBNK | -3.01% | -2.40% | +29.54% | +44.46% | +179.51% | |
| Flows | ZTIP | +$2 M | +$7 M | +$26 M | +$29 M | +$21 M |
HBNK | +$0 M | -$22 M | -$483 M | -$530 M | -$197 M |
ZTIP vs HBNK exposure
Countries
ZTIP
USA
100.00%
HBNK
Canada
99.74%
Sectors
ZTIP
Sovereign
100.00%
HBNK
Finance
99.74%
As of October 20, 2026
Top 10 Holdings
ZTIP
USA, TIPS 1.125% 15oct2030, USD (AE-2030)
5.39%
USA, TIPS 1.25% 15apr2031, USD (X-2031)
5.32%
USA, TIPS 1.625% 15apr2030, USD (X-2030)
5.29%
USA, TIPS 1.625% 15oct2029, USD (AE-2029)
5.11%
USA, TIPS 2.125% 15apr2029, USD (X-2029)
4.96%
USA, TIPS 2.375% 15oct2028, USD (AE-2028)
4.90%
USA, TIPS 1.625% 15oct2027, USD (AE-2027)
4.85%
USA, TIPS 0.125% 15oct2026, USD (AE-2026)
4.78%
USA, TIPS 1.25% 15apr2028, USD (X-2028)
4.73%
USA, TIPS 0.125% 15apr2027, USD (X-2027)
4.72%
HBNK
The Bank of Nova Scotia
17.48%
The Toronto-Dominion Bank
17.41%
Royal Bank of Canada
17.21%
Bank of Montreal
16.52%
Canadian Imperial Bank of Commerce
15.70%
National Bank of Canada
15.42%
Diversification
ZTIP
Total weight of top 10 holdings out of 25 total
50.06%
HBNK
Total weight of top 10 holdings out of 6 total
99.74%
Characteristics
Compare
ZTIP
HBNK
| Provider | BMO | Global X |
| Management | Passively managed | Passively managed |
| Benchmark | Bloomberg US Govt Inflation-Linked 0-5Yrs Total Return Index - USD | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Fixed Income | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 4.00% | 2.68% |
| Meets ESG criteria | No | No |
| Inception Date | January 26, 2021 | July 5, 2023 |
Frequently asked questions about ZTIP and HBNK
Which ETF has performed better year to date: ZTIP or HBNK?
As of October 20, 2026, ZTIP has returned 4.20% year to date, while HBNK has returned 29.54%. HBNK is ahead on YTD performance.
Which ETF is larger by assets under management: ZTIP or HBNK?
As of October 20, 2026, ZTIP manages $43.11 M in assets, while HBNK manages $743.98 M. HBNK is the larger fund by AUM.
How are ZTIP and HBNK managed?
ZTIP is passively managed by BMO. It tracks the Bloomberg US Govt Inflation-Linked 0-5Yrs Total Return Index - USD benchmark. HBNK is passively managed by Global X. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do ZTIP and HBNK emphasize?
ZTIP is most exposed to Sovereign. HBNK is most exposed to Finance.
Which ETF is attracting more investor flows: ZTIP or HBNK?
Year to date, ZTIP has seen +$26.06 M in net flows, compared with -$483.41 M for HBNK. ZTIP has attracted more net investor money so far.
How do the fees of ZTIP and HBNK compare?
ZTIP has an expense ratio of 0.17%, while HBNK has an expense ratio of 0.10%.
What are the top holdings of ZTIP and HBNK?
ZTIP's largest holdings include USA, TIPS 1.125% 15oct2030, USD (AE-2030), USA, TIPS 1.25% 15apr2031, USD (X-2031), and USA, TIPS 1.625% 15apr2030, USD (X-2030). HBNK's top holdings include The Bank of Nova Scotia, The Toronto-Dominion Bank, and Royal Bank of Canada.
Which ETF is more diversified: ZTIP or HBNK?
ZTIP holds 25 securities, while HBNK holds 6. On holdings count, ZTIP is the more diversified portfolio.
Recent articles about ZTIP and HBNK
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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.