BNKL.TO vs. HEB.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Global X Enhanced Equal Weight Banks Index ETF (BNKL.TO) and Hamilton Canadian Bank Equal-Weight Index ETF (HEB.TO).

BNKL.TO and HEB.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BNKL.TO is a passively managed fund by Global X that tracks the performance of the Solactive Equal Weight Canada Banks Index. It was launched on Jul 5, 2023. HEB.TO is a passively managed fund by Hamilton that tracks the performance of the Solactive Equal Weight Canada Banks Index. It was launched on Apr 3, 2023. Both BNKL.TO and HEB.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

BNKL.TO vs. HEB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Enhanced Equal Weight Banks Index ETF (BNKL.TO) and Hamilton Canadian Bank Equal-Weight Index ETF (HEB.TO). The values are adjusted to include any dividend payments, if applicable.

BNKL.TO vs. HEB.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BNKL.TO Global X Enhanced Equal Weight Banks Index ETF	0.85%	55.98%	29.92%	9.73%
HEB.TO Hamilton Canadian Bank Equal-Weight Index ETF	1.58%	44.00%	23.58%	8.75%

Returns By Period

In the year-to-date period, BNKL.TO achieves a 0.85% return, which is significantly lower than HEB.TO's 1.58% return.

BNKL.TO

• 1D: 2.75%
• 1M: -5.36%
• YTD: 0.85%
• 6M: 18.04%
• 1Y: 65.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HEB.TO

• 1D: 2.50%
• 1M: -4.22%
• YTD: 1.58%
• 6M: 14.53%
• 1Y: 51.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BNKL.TO vs. HEB.TO - Expense Ratio Comparison

BNKL.TO has a 1.33% expense ratio, which is higher than HEB.TO's 0.19% expense ratio.

BNKL.TO

Global X Enhanced Equal Weight Banks Index ETF

HEB.TO

Hamilton Canadian Bank Equal-Weight Index ETF

Return for Risk

BNKL.TO vs. HEB.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BNKL.TO

BNKL.TO Risk / Return Rank: 98
BNKL.TO Sharpe Ratio Rank: 98
BNKL.TO Sortino Ratio Rank: 98
BNKL.TO Omega Ratio Rank: 98
BNKL.TO Calmar Ratio Rank: 98
BNKL.TO Martin Ratio Rank: 98

HEB.TO

HEB.TO Risk / Return Rank: 98
HEB.TO Sharpe Ratio Rank: 98
HEB.TO Sortino Ratio Rank: 98
HEB.TO Omega Ratio Rank: 98
HEB.TO Calmar Ratio Rank: 98
HEB.TO Martin Ratio Rank: 98

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BNKL.TO vs. HEB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Enhanced Equal Weight Banks Index ETF (BNKL.TO) and Hamilton Canadian Bank Equal-Weight Index ETF (HEB.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BNKL.TO	HEB.TO	Difference
Sharpe ratio Return per unit of total volatility	4.07	3.84	+0.23
Sortino ratio Return per unit of downside risk	4.99	4.89	+0.09
Omega ratio Gain probability vs. loss probability	1.76	1.74	+0.02
Calmar ratio Return relative to maximum drawdown	6.20	5.92	+0.28
Martin ratio Return relative to average drawdown	24.07	25.35	-1.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BNKL.TO vs. HEB.TO - Sharpe Ratio Comparison

The current BNKL.TO Sharpe Ratio is 4.07, which is comparable to the HEB.TO Sharpe Ratio of 3.84. The chart below compares the historical Sharpe Ratios of BNKL.TO and HEB.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BNKL.TO	HEB.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.07	3.84	+0.23
Sharpe Ratio (All Time) Calculated using the full available price history	2.22	2.01	+0.21

Correlation

The correlation between BNKL.TO and HEB.TO is 0.63, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

BNKL.TO vs. HEB.TO - Dividend Comparison

BNKL.TO's dividend yield for the trailing twelve months is around 3.16%, more than HEB.TO's 2.97% yield.

	TTM	2025	2024	2023
BNKL.TO Global X Enhanced Equal Weight Banks Index ETF	3.16%	3.40%	4.39%	2.79%
HEB.TO Hamilton Canadian Bank Equal-Weight Index ETF	2.97%	3.20%	4.24%	3.75%

Drawdowns

BNKL.TO vs. HEB.TO - Drawdown Comparison

The maximum BNKL.TO drawdown since its inception was -18.58%, which is greater than HEB.TO's maximum drawdown of -14.82%. Use the drawdown chart below to compare losses from any high point for BNKL.TO and HEB.TO.

Drawdown Indicators

	BNKL.TO	HEB.TO	Difference
Max Drawdown Largest peak-to-trough decline	-18.58%	-14.82%	-3.76%
Max Drawdown (1Y) Largest decline over 1 year	-10.79%	-8.86%	-1.93%
Current Drawdown Current decline from peak	-8.04%	-6.09%	-1.95%
Average Drawdown Average peak-to-trough decline	-3.17%	-2.51%	-0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	2.07%	+0.71%

Volatility

BNKL.TO vs. HEB.TO - Volatility Comparison

Global X Enhanced Equal Weight Banks Index ETF (BNKL.TO) has a higher volatility of 6.63% compared to Hamilton Canadian Bank Equal-Weight Index ETF (HEB.TO) at 6.09%. This indicates that BNKL.TO's price experiences larger fluctuations and is considered to be riskier than HEB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNKL.TO	HEB.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.63%	6.09%	+0.54%
Volatility (6M) Calculated over the trailing 6-month period	11.97%	10.25%	+1.72%
Volatility (1Y) Calculated over the trailing 1-year period	16.18%	13.52%	+2.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.69%	12.68%	+3.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.69%	12.68%	+3.01%