VS
BMO Equal Weight U.S. Banks Index ETF (ZUB) and Hamilton Canadian Financials Yield Maximizer ETF (HMAX) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZUB focuses its top 3 sector exposures on Finance, while HMAX leans towards Finance. When evaluating costs, ZUB features a management fee (MER) of 0.35%, compared to 0.65% for HMAX. Performance-wise, ZUB has returned 10.34% year-to-date with -$70 M in net flows, whereas HMAX is at 17.1% with +$413 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
ZUB
HMAX
| AuM | $336.16 M | $2,532.69 M |
| Management Fees | 0.35% | 0.65% |
| Exp. ratio | 0.38% | 0.76% |
| Tracking Difference | -0.10% | - |
Historical performance and flows
As of September 14, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZUB | -5.07% | +3.02% | +10.34% | +17.57% | +107.19% |
HMAX | -3.91% | +1.34% | +17.10% | +29.10% | +86.10% | |
| Flows | ZUB | +$4 M | +$3 M | -$70 M | -$61 M | -$411 M |
HMAX | +$35 M | +$141 M | +$413 M | +$644 M | +$1,604 M |
ZUB vs HMAX exposure
Countries
ZUB
USA
100.00%
HMAX
Canada
100.21%
Sectors
ZUB
Finance
100.00%
HMAX
Finance
100.21%
As of September 14, 2026
Top 10 Holdings
ZUB
Bank of America Corp.
5.42%
The Goldman Sachs Group, Inc.
5.36%
Citigroup, Inc.
5.31%
Citizens Financial Group, Inc. (Rhode Island)
5.28%
East West Bancorp, Inc.
5.26%
JPMorgan Chase & Co.
5.18%
The PNC Financial Services Group, Inc.
5.16%
U.S. Bancorp
5.13%
Fifth Third Bancorp
5.11%
Pinnacle Financial Partners, Inc.
5.06%
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
ZUB
Total weight of top 10 holdings out of 20 total
52.28%
HMAX
Total weight of top 10 holdings out of 10 total
100.21%
Characteristics
Compare
ZUB
HMAX
| Provider | BMO | Hamilton ETFs |
| Management | Passively managed | Actively managed |
| Benchmark | Solactive Equal Weight US Bank Canadian Dollar Hedged Net Total Return Index - CAD | - |
| Replication Method | ||
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.77% | 11.37% |
| Meets ESG criteria | No | No |
| Inception Date | May 19, 2010 | January 20, 2023 |
Frequently asked questions about ZUB and HMAX
Which ETF has performed better year to date: ZUB or HMAX?
As of September 14, 2026, ZUB has returned 10.34% year to date, while HMAX has returned 17.10%. HMAX is ahead on YTD performance.
Which ETF is larger by assets under management: ZUB or HMAX?
As of September 14, 2026, ZUB manages $336.16 M in assets, while HMAX manages $2.53 B. HMAX is the larger fund by AUM.
How are ZUB and HMAX managed?
ZUB is passively managed by BMO. It tracks the Solactive Equal Weight US Bank Canadian Dollar Hedged Net Total Return Index - CAD benchmark. HMAX is actively managed by Hamilton ETFs. It does not track an index.
What sectors do ZUB and HMAX emphasize?
ZUB is most exposed to Finance. HMAX is most exposed to Finance.
Which ETF is attracting more investor flows: ZUB or HMAX?
Year to date, ZUB has seen -$70.09 M in net flows, compared with +$412.64 M for HMAX. HMAX has attracted more net investor money so far.
How do the fees of ZUB and HMAX compare?
ZUB has an expense ratio of 0.38%, while HMAX has an expense ratio of 0.76%.
What are the top holdings of ZUB and HMAX?
ZUB's largest holdings include Bank of America Corp., The Goldman Sachs Group, Inc., and Citigroup, Inc.. HMAX's top holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and Bank of Montreal.
Which ETF is more diversified: ZUB or HMAX?
ZUB holds 20 securities, while HMAX holds 10. On holdings count, ZUB is the more diversified portfolio.
Recent articles about ZUB and HMAX
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Posted on 6/13/2024 by Kyle Anthony inStock Market
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