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Hamilton Canadian Bank Equal-Weight Index ETF (HEB.TO) Alternatives

ETF · Currency in CAD · Last updated Aug 2, 2026

HEB.TO is a passive ETF by Hamilton tracking the investment results of the Solactive Equal Weight Canada Banks Index. HEB.TO launched on Apr 3, 2023 and has a 0.19% expense ratio.

Hamilton Canadian Bank Equal-Weight Index ETF (HEB.TO) belongs to the Financials Equities category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with HEB.TO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to HEB.TO

HEB.TO charges 0.19% annually. There is 1 ETF in the Financials Equities category with a lower expense ratio, going as low as 0.09%.

SymbolNameExpense RatioAUMInception
HBNK.TO
Global X Equal Weight Banks Index ETF0.09%—Jul 2023HEB.TO vs HBNK.TO
ZEB.TO
BMO Equal Weight Banks Index ETF0.25%7.10BOct 2009HEB.TO vs ZEB.TO
XUSF.TO
iShares S&P U.S. Financials Index ETF0.25%—Sep 2023HEB.TO vs XUSF.TO
HXF.TO
Global X S&P/TSX Capped Financials Index Corporate...0.25%134.24MSep 2013HEB.TO vs HXF.TO
RBNK.TO
RBC Canadian Bank Yield Index ETF0.32%518.88MOct 2017HEB.TO vs RBNK.TO

Best Risk-Adjusted Alternatives to HEB.TO

HEB.TO has a PortfoliosLab risk / return rank of 98. There are 6 ETFs in the Financials Equities category with higher risk-adjusted ranks, going as high as 98.

SymbolNameRisk / Return RankAUMInception
BNKL.TO
Global X Enhanced Equal Weight Banks Index ETF
98
—Jul 2023HEB.TO vs BNKL.TO
CBNK.TO
Mulvihill Canadian Bank Enhanced Yield ETF
98
—Feb 2022HEB.TO vs CBNK.TO
HCAL.TO
Hamilton Enhanced Canadian Bank ETF
98
1.09BOct 2020HEB.TO vs HCAL.TO
HBNK.TO
Global X Equal Weight Banks Index ETF
98
—Jul 2023HEB.TO vs HBNK.TO
ZEB.TO
BMO Equal Weight Banks Index ETF
98
7.10BOct 2009HEB.TO vs ZEB.TO

Top Performing HEB.TO Alternatives (YTD)

HEB.TO is at 32.76% YTD. There are 6 ETFs in the Financials Equities category with higher YTD returns, going as high as 48.45%.

SymbolNameYTD ReturnAUMInception
CFOU.TO
BetaPro S&P/TSX Capped Financials 2x Daily Bull ET...
48.45%
88.65MJun 2007HEB.TO vs CFOU.TO
CBNK.TO
Mulvihill Canadian Bank Enhanced Yield ETF
44.23%
—Feb 2022HEB.TO vs CBNK.TO
BNKL.TO
Global X Enhanced Equal Weight Banks Index ETF
41.35%
—Jul 2023HEB.TO vs BNKL.TO
HCAL.TO
Hamilton Enhanced Canadian Bank ETF
41.03%
1.09BOct 2020HEB.TO vs HCAL.TO
RBNK.TO
RBC Canadian Bank Yield Index ETF
33.54%
518.88MOct 2017HEB.TO vs RBNK.TO

Lowest Volatility Alternatives to HEB.TO

HEB.TO has 14.59% 1-year volatility. There are 13 ETFs in the Financials Equities category with lower 1-year volatility, going as low as 9.59%.

SymbolNameVolatility 1YAUMInception
FIE.TO
iShares Canadian Financial Monthly Income ETF9.59%1.43BApr 2010HEB.TO vs FIE.TO
HPYB.TO
Harvest Premium Yield Canadian Bank ETF11.92%—Jan 2026HEB.TO vs HPYB.TO
DXF.TO
Dynamic Active Global Financial Services ETF12.43%11.95MSep 2017HEB.TO vs DXF.TO
CIC.TO
CI Canadian Banks Covered Call Income Class ETF12.67%353.44MAug 2010HEB.TO vs CIC.TO
CEW.TO
iShares Equal Weight Banc & Lifeco ETF12.79%438.68MFeb 2008HEB.TO vs CEW.TO

Lowest Drawdown Alternatives to HEB.TO

HEB.TO has a 1-year max drawdown of -8.86%. There are 8 ETFs in the Financials Equities category with shallower 1-year drawdowns, going as shallow as -7.13%.

SymbolNameMax Drawdown 1YAUMInception
CEW.TO
iShares Equal Weight Banc & Lifeco ETF
-7.13%
438.68MFeb 2008HEB.TO vs CEW.TO
FIE.TO
iShares Canadian Financial Monthly Income ETF
-7.19%
1.43BApr 2010HEB.TO vs FIE.TO
XFN.TO
iShares S&P/TSX Capped Financials Index ETF
-7.80%
2.30BMar 2001HEB.TO vs XFN.TO
ZWB.TO
BMO Covered Call Canadian Banks ETF
-7.82%
4.77BJan 2011HEB.TO vs ZWB.TO
HXF.TO
Global X S&P/TSX Capped Financials Index Corporate...
-7.94%
134.24MSep 2013HEB.TO vs HXF.TO

Other ETFs from Hamilton

The 10 most viewed Hamilton ETFs shown here include HDIV.TO, HMAX.TO, HYLD.TO and span 6 categories. AUM among these funds goes as high as $3B.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
HDIV.TO
Hamilton Enhanced Canadian Covered Call ETFDerivative Income
95
18.30%
1.79BJul 2021HEB.TO vs HDIV.TO
HMAX.TO
Hamilton Canadian Financials Yield Maximizer ETFDerivative Income
97
19.57%
2.58BJan 2023HEB.TO vs HMAX.TO
HYLD.TO
Hamilton Enhanced U.S. Covered Call ETFDerivative Income
68
11.33%
1.30BFeb 2022HEB.TO vs HYLD.TO
QDAY.NEO
Hamilton EnhancedTechnology DayMAX™ ETFDerivative Income
51
22.56%
—Jul 2025HEB.TO vs QDAY.NEO
UMAX.TO
Hamilton Utilities YIELD MAXIMIZER ETFDerivative Income, Utilities Equities
77
8.99%
1.45BJun 2023HEB.TO vs UMAX.TO
CDAY.NEO
Hamilton Enhanced Canadian Equity DayMAX ETFDerivative Income, Canada Equities
92
17.13%
242.10MJul 2025HEB.TO vs CDAY.NEO
QMAX.TO
Hamilton Technology YIELD MAXIMIZER ETFTechnology Equities, Derivative Income
31
11.50%
936.10MOct 2023HEB.TO vs QMAX.TO
CMVP.TO
HAMILTON CHAMPIONS Canadian Dividend Index ETF Cla...Canada Equities
95
17.44%
—Jan 2025HEB.TO vs CMVP.TO
SDAY.NEO
Hamilton Enhanced U.S. Equity DayMAX™ ETFDerivative Income
74
16.75%
0.00Jul 2025HEB.TO vs SDAY.NEO
AMAX.TO
Hamilton Gold Producer YIELD MAXIMIZER ETFGold, Derivative Income, Precious Metals
28
-13.72%
481.30MFeb 2024HEB.TO vs AMAX.TO

Often Compared With HEB.TO

Investors most often compare HEB.TO with HCA.TO, HBA.TO, LMAX.TO. These 20 comparison targets span 13 categories, based on PortfoliosLab usage data.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
HCA.TO
Hamilton Canadian Bank Mean Reversion Index ETFCanada Equities
98
35.40%
108.60MJun 2020HEB.TO vs HCA.TO
HBA.TO
Hamilton Australian Bank Equal-Weight Index ETFFinancials Equities, Australia Equities, Equal Weight
30
6.77%
141.30MJun 2020HEB.TO vs HBA.TO
LMAX.TO
Hamilton Healthcare Yield Maximizer ETFHealth & Biotech Equities
51
4.83%
226.20MFeb 2024HEB.TO vs LMAX.TO
MIX.TO
Hamilton Enhanced Mixed Asset ETFDiversified Portfolio
50
4.04%
—Apr 2025HEB.TO vs MIX.TO
HYLD-U.TO
Hamilton Enhanced U.S. Covered Call ETF (USD)Derivative Income, Options Trading, Actively Managed
72
13.08%
927.41MFeb 2022HEB.TO vs HYLD-U.TO
FMAX.TO
Hamilton U.S. Financials Yield Maximizer ETFFinancials Equities
20
2.29%
198.40MFeb 2024HEB.TO vs FMAX.TO
UMVP.TO
Hamilton Champions Utilities Index ETFUtilities Equities, Dividend——314.00MJan 2026HEB.TO vs UMVP.TO
BKCL.TO
Global X Enhanced Equal Weight Canadian Banks Cove...Financials Equities, Derivative Income
97
29.34%
201.63MJul 2023HEB.TO vs BKCL.TO
QMVP.TO
Hamilton Champions U.S. Technology Index ETFTechnology Equities——348.00MJan 2026HEB.TO vs QMVP.TO
XIC.TO
iShares Core S&P/TSX Capped Composite Index ETFCanada Equities
90
12.55%
31.79BFeb 2001HEB.TO vs XIC.TO
ZWK.TO
BMO Covered Call US Banks ETFFinancials Equities
62
15.05%
352.50MFeb 2019HEB.TO vs ZWK.TO
SIXY.TO
Evolve Big Six Canadian Banks UltraYield Index ETFFinancials Equities—
30.61%
—Dec 2025HEB.TO vs SIXY.TO
CWIN.TO
HAMILTON CHAMPIONS Enhanced Canadian Dividend ETF ...Dividend
95
21.87%
—Jan 2025HEB.TO vs CWIN.TO
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index E...Dividend
99
28.99%
8.59BNov 2012HEB.TO vs VDY.TO
HFIN.TO
Hamilton Enhanced Canadian Financials ETFFinancials Equities
97
28.08%
502.20MJan 2022HEB.TO vs HFIN.TO
EBNK.TO
Evolve European Banks Enhanced Yield ETF Hedged CA...Financials Equities, Derivative Income
72
16.96%
160.28MJan 2022HEB.TO vs EBNK.TO
HUTS.TO
Hamilton Enhanced Utilities ETFUtilities Equities
90
17.30%
247.40MSep 2022HEB.TO vs HUTS.TO
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETFCanada Equities
98
28.07%
4.38BApr 2011HEB.TO vs XEI.TO
ZUB.TO
BMO Equal Weight US Banks Hedged to CAD Index ETFFinancials Equities, Equal Weight
47
12.28%
341.88MMay 2010HEB.TO vs ZUB.TO
HUM.TO
Hamilton U.S. Mid-Cap Financials ETFFinancials Equities, Mid Cap Blend Equities
25
7.14%
22.80MJun 2020HEB.TO vs HUM.TO

Compare HEB.TO with Any Fund or Stock

Compare HEB.TO with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

 

Diversifiers

Pair HEB.TO with funds that move differently

Hamilton Canadian Bank Equal-Weight Index ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to HEB.TO.

Explore HEB.TO Diversifiers