VS
When evaluating costs, ZWB features a management fee (MER) of 0.65%, compared to 0.65% for HCAL. Performance-wise, ZWB has returned 27.16% year-to-date with +$32 M in net flows, whereas HCAL is at 39.01% with -$43 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
ZWB
HCAL
| AuM | $4,672.58 M | $1,022.09 M |
| Management Fees | 0.65% | 0.65% |
| Exp. ratio | 0.72% | 0.82% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 18, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZWB | -2.02% | +1.95% | +27.16% | +43.38% | +115.59% |
HCAL | -2.63% | +2.18% | +39.01% | +62.68% | +204.64% | |
| Flows | ZWB | -$21 M | +$21 M | +$32 M | +$37 M | -$248 M |
HCAL | -$36 M | -$47 M | -$43 M | -$46 M | -$63 M |
ZWB vs HCAL exposure
Countries
ZWB
Canada
100.03%
HCAL
Exposure data will be available soon
Sectors
ZWB
Finance
100.03%
HCAL
Exposure data will be available soon
As of September 18, 2026
Top 10 Holdings
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%
HCAL
Exposure data will be available soon
Diversification
ZWB
Total weight of top 10 holdings out of 6 total
100.03%
HCAL
Exposure data will be available soon
Characteristics
Compare
ZWB
HCAL
| Provider | BMO | Hamilton ETFs |
| Management | Actively managed | Passively managed |
| Benchmark | - | Solactive Equal Weight Canada Banks GTR Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 5.18% | 3.21% |
| Meets ESG criteria | No | No |
| Inception Date | January 28, 2011 | October 14, 2020 |
Frequently asked questions about ZWB and HCAL
Which ETF has performed better year to date: ZWB or HCAL?
As of September 18, 2026, ZWB has returned 27.16% year to date, while HCAL has returned 39.01%. HCAL is ahead on YTD performance.
Which ETF is larger by assets under management: ZWB or HCAL?
As of September 18, 2026, ZWB manages $4.67 B in assets, while HCAL manages $1.02 B. ZWB is the larger fund by AUM.
How are ZWB and HCAL managed?
ZWB is actively managed by BMO. It does not track an index. HCAL is passively managed by Hamilton ETFs. It tracks the Solactive Equal Weight Canada Banks GTR Index - CAD benchmark.
Which ETF is attracting more investor flows: ZWB or HCAL?
Year to date, ZWB has seen +$31.99 M in net flows, compared with -$42.58 M for HCAL. ZWB has attracted more net investor money so far.
How do the fees of ZWB and HCAL compare?
ZWB has an expense ratio of 0.72%, while HCAL has an expense ratio of 0.82%.
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