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Compare BMO Equal Weight Utilities Index ETF (ZUT) vs Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB) to find the best fit for your portfolio. ZUT provides Utilities exposures, while HEWB is primarily weighted in Financials. When evaluating costs, ZUT features a management fee (MER) of 0.55%, compared to 0.28% for HEWB. Performance-wise, ZUT has returned 17.29% year-to-date with -$87 M in net flows, whereas HEWB is at 4.17% with +$5 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
ZUT
HEWB
| AuM | $863.56 M | $255.59 M |
| Management Fees | 0.55% | 0.28% |
| Exp. ratio | 0.61% | 0.28% |
| Tracking Difference | -0.74% | -0.73% |
Historical performance and flows
As of April 6, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZUT | +7.59% | +16.38% | +17.29% | +41.42% | +41.26% |
HEWB | +0.87% | +3.05% | +4.17% | +65.45% | +102.30% | |
| Flows | ZUT | -$4 M | -$85 M | -$87 M | +$76 M | +$227 M |
HEWB | +$0 M | +$5 M | +$5 M | -$0 M | -$11 M |
ZUT vs HEWB exposure
Countries
ZUT
Canada
82.74%
Bermuda
17.26%
HEWB
Canada
99.99%
Sectors
ZUT
Utilities
100.00%
HEWB
Financials
99.99%
As of April 6, 2026
Top 10 Holdings
ZUT
BROOKFIELD INFRASTRUCTURE PARTNERS LP UNIT
8.73%
ATCO
8.70%
BROOKFIELD RENEWABLE PARTNERS
8.53%
CANADIAN UTILITIES
8.28%
ALGONQUIN POWER
8.23%
HYDRO ONE
7.94%
FORTIS
7.66%
ALTAGAS
7.40%
EMERA
7.26%
CAPITAL POWER
7.12%
HEWB
TORONTO DOMINION
17.51%
BNS
17.08%
CDN IMPERIAL BK
17.02%
ROYAL BK CANADA
16.58%
NATIONAL BANK OF CANADA
15.93%
BANK OF MONTREAL
15.87%
Diversification
ZUT
Total weight of top 10 holdings out of 13 total
79.85%
HEWB
Total weight of top 10 holdings out of 6 total
99.99%
Characteristics
Compare
ZUT
HEWB
| Provider | BMO | Global X |
| Management | Passively managed | Passively managed |
| Benchmark | Solactive Equal Weight Canada Utilities Total Return Index - CAD | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Capitalization |
| Trailing 12m distribution yield | 2.88% | 0.00% |
| Meets ESG criteria | No | No |
| Inception Date | January 19, 2010 | January 23, 2019 |
Frequently asked questions about ZUT and HEWB
Which ETF has performed better year to date: ZUT or HEWB?
As of April 6, 2026, ZUT has returned 17.29% year to date, while HEWB has returned 4.17%. ZUT is ahead on YTD performance.
Which ETF is larger by assets under management: ZUT or HEWB?
As of April 6, 2026, ZUT manages $863.56 M in assets, while HEWB manages $255.59 M. ZUT is the larger fund by AUM.
How are ZUT and HEWB managed?
ZUT is passively managed by BMO. It tracks the Solactive Equal Weight Canada Utilities Total Return Index - CAD benchmark. HEWB is passively managed by Global X. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
What sectors do ZUT and HEWB emphasize?
ZUT is most exposed to Utilities. HEWB is most exposed to Financials.
Which ETF is attracting more investor flows: ZUT or HEWB?
Year to date, ZUT has seen -$86.71 M in net flows, compared with +$4.56 M for HEWB. HEWB has attracted more net investor money so far.
How do the fees of ZUT and HEWB compare?
ZUT has an expense ratio of 0.61%, while HEWB has an expense ratio of 0.28%.
What are the top holdings of ZUT and HEWB?
ZUT's largest holdings include BROOKFIELD INFRASTRUCTURE PARTNERS LP UNIT, ATCO, and BROOKFIELD RENEWABLE PARTNERS. HEWB's top holdings include TORONTO DOMINION, BNS, and CDN IMPERIAL BK.
Which ETF is more diversified: ZUT or HEWB?
ZUT holds 13 securities, while HEWB holds 6. On holdings count, ZUT is the more diversified portfolio.
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