A side-by-side comparison of Hamilton Canadian Bank Equal-Weight Index ETF (HEB) and BMO S&P/TSX Equal Weight Banks (ZEB) to help Canadian investors make an informed decision.
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1-Year Performance
Normalised to 100 at the start — shows relative return over the trailing 12 months.
Head-to-Head Comparison
| Metric | HEB | ZEB |
|---|---|---|
| YTD Return | +17.23% | +17.33%✓ |
| 1-Day Change | +1.74% | +1.98%✓ |
| 1-Week Change | -1.20%✓ | -1.32% |
| 1-Month Change | +4.22%✓ | +4.42% |
| Current Price | $32.11 | $69.00 |
| AUM | $1.27B | $5.16B✓ |
| MER (Expense Ratio) | — | 0% |
| Dividend Yield | 2.92%✓ | 2.64% |
| Distribution Frequency | Monthly | Monthly |
| Inception Date | 2023-04-03 | 2009-10-20 |
| Holdings Count | 6 | 6 |
| MorningStar Rating | ★★★★★ | ★★★★ |
| Category | Financial Services Equity | Financial Services Equity |
| Beta | 1.08 | 1.08 |
| 52-Week High | $32.78 | $70.39 |
| 52-Week Low | $19.84 | $42.67 |
| 50-Day MA | $30.02 | $64.48 |
| 200-Day MA | $26.97 | $57.93 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | HEB | ZEB |
|---|---|---|
| YTD | +17.23% | +17.33%✓ |
| 1 Year | +59.88% | +59.94%✓ |
| 3 Year | +33.46% | +33.55%✓ |
| 5 Year | — | +18.31% |
| 10 Year | — | +15.91% |
| 1Y Volatility | 13.56% | 13.57% |
| Sharpe Ratio (3Y) | 1.69 | 1.69 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | TD | Toronto Dominion Bank | 16.98% |
| 2 | CM | Canadian Imperial Bank Of Commerce | 16.90% |
| 3 | NA | National Bank of Canada | 16.55% |
| 4 | RY | Royal Bank of Canada | 16.52% |
| 5 | BMO | Bank of Montreal | 16.31% |
| 6 | BNS | Bank of Nova Scotia | 16.24% |
| 1 | TD | Toronto Dominion Bank | 16.98% |
| 2 | CM | Canadian Imperial Bank Of Commerce | 16.85% |
| 3 | NA | National Bank of Canada | 16.69% |
| 4 | RY | Royal Bank of Canada | 16.67% |
| 5 | BNS | Bank of Nova Scotia | 16.33% |
| 6 | BMO | Bank of Montreal | 16.24% |
Sector Weights
| Sector | HEB | ZEB |
|---|---|---|
| Basic Materials | 0.00% | 0.00% |
| Communication Services | 0.00% | 0.00% |
| Consumer Cyclicals | 0.00% | 0.00% |
| Consumer Defensive | 0.00% | 0.00% |
| Energy | 0.00% | 0.00% |
| Financial Services | 100.00% | 100.00% |
| Healthcare | 0.00% | 0.00% |
| Industrials | 0.00% | 0.00% |
| Real Estate | 0.00% | 0.00% |
| Technology | 0.00% | 0.00% |
| Utilities | 0.00% | 0.00% |
About HEB
HEB is designed to track the returns of the Solactive Equal Weight Canada Banks Index, net of fees and expenses. HEB rebalances semi-annually to equal-weight.
About ZEB
BMO S&P/TSX Equal Weight Banks (ZEB.TO) is a Canadian-listed ETF traded on the Toronto Stock Exchange. More detailed information will be available soon.
Which ETF is Right for You?
Both HEB and ZEB are listed on Canadian exchanges and accessible through most Canadian brokerages including Questrade, Wealthsimple Trade, TD Direct, and Interactive Brokers.
Based on the available data, ZEB scores higher across our tracked metrics including YTD performance, dividend yield, and AUM — though both ETFs warrant individual research before investing.
- Consider your account type (TFSA, RRSP, non-registered) as it can affect dividend taxation.
- Compare management expense ratios (MER) directly on each provider's website.
- Look at average daily trading volume to assess liquidity.
- Review the fund's underlying index and holdings to ensure the exposure matches your goals.
This is not financial advice. Always do your own research or consult a licensed financial advisor before investing.
Frequently Asked Questions
What is the difference between HEB and ZEB?
HEB (Hamilton Canadian Bank Equal-Weight Index ETF) and ZEB (BMO S&P/TSX Equal Weight Banks) are both Canadian-listed ETFs. Key differences include their AUM ($1.27B vs $5.16B), dividend yield (2.92% vs 2.64%), and year-to-date performance (+17.23% vs +17.33%).
Is HEB better than ZEB?
There is no single "better" ETF — it depends on your investment goals. If you prioritise dividends, compare both yields and choose based on your income needs. Always review the fund's prospectus and consider your tax situation.
Can I buy HEB and ZEB on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both HEB and ZEB should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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