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HBNK.TO vs. ZLB.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

HBNK.TO vs. ZLB.TO

Last updated Apr 2, 2026

Compare and contrast key facts about Global X Equal Weight Banks Index ETF (HBNK.TO) and BMO Low Volatility Canadian Equity ETF (ZLB.TO).

HBNK.TO and ZLB.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HBNK.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. ZLB.TO is an actively managed fund by BMO. It was launched on Oct 21, 2011.

Performance

HBNK.TO vs. ZLB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Equal Weight Banks Index ETF (HBNK.TO) and BMO Low Volatility Canadian Equity ETF (ZLB.TO). The values are adjusted to include any dividend payments, if applicable.

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HBNK.TO vs. ZLB.TO - Yearly Performance Comparison

2026 (YTD)202520242023
HBNK.TO
Global X Equal Weight Banks Index ETF		3.35%43.71%24.77%8.99%
ZLB.TO
BMO Low Volatility Canadian Equity ETF		1.94%20.31%15.20%3.99%

Returns By Period

In the year-to-date period, HBNK.TO achieves a 3.35% return, which is significantly higher than ZLB.TO's 1.94% return.

HBNK.TO

1D
1.37%
1M
-3.17%
YTD
3.35%
6M
15.73%
1Y
54.40%
3Y*
—
5Y*
—
10Y*
—

ZLB.TO

1D
0.51%
1M
-2.58%
YTD
1.94%
6M
3.03%
1Y
15.64%
3Y*
13.06%
5Y*
11.69%
10Y*
10.18%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Global X Equal Weight Banks Index ETF

BMO Low Volatility Canadian Equity ETF

Often compared with HBNK.TO:
HBNK.TO vs. ZEB.TOHBNK.TO vs. HCAL.TOHBNK.TO vs. XEQT.TOHBNK.TO vs. EBNK.TOHBNK.TO vs. HMAX.TOHBNK.TO vs. FIE.TOHBNK.TO vs. ENB.TO
Often compared with ZLB.TO:
ZLB.TO vs. VDY.TOZLB.TO vs. XIU.TOZLB.TO vs. XDIV.TOZLB.TO vs. XMW.TOZLB.TO vs. XBAL.TOZLB.TO vs. XUT.TOZLB.TO vs. XUU-U.TO

HBNK.TO vs. ZLB.TO - Expense Ratio Comparison

HBNK.TO has a 0.09% expense ratio, which is lower than ZLB.TO's 0.39% expense ratio.

ZLB.TO
BMO Low Volatility Canadian Equity ETF
HBNK.TO
Global X Equal Weight Banks Index ETF

Return for Risk

HBNK.TO vs. ZLB.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HBNK.TO
HBNK.TO Risk / Return Rank: 9898
Overall Rank
HBNK.TO Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
HBNK.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
HBNK.TO Omega Ratio Rank: 9898
Omega Ratio Rank
HBNK.TO Calmar Ratio Rank: 9898
Calmar Ratio Rank
HBNK.TO Martin Ratio Rank: 9898
Martin Ratio Rank
ZLB.TO
ZLB.TO Risk / Return Rank: 7878
Overall Rank
ZLB.TO Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
ZLB.TO Sortino Ratio Rank: 7777
Sortino Ratio Rank
ZLB.TO Omega Ratio Rank: 7777
Omega Ratio Rank
ZLB.TO Calmar Ratio Rank: 8383
Calmar Ratio Rank
ZLB.TO Martin Ratio Rank: 7575
Martin Ratio Rank
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.

HBNK.TO vs. ZLB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Equal Weight Banks Index ETF (HBNK.TO) and BMO Low Volatility Canadian Equity ETF (ZLB.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.

HBNK.TOZLB.TODifference

Sharpe ratio

Return per unit of total volatility

4.03

1.50

+2.53

Sortino ratio

Return per unit of downside risk

5.12

2.01

+3.11

Omega ratio

Gain probability vs. loss probability

1.79

1.30

+0.48

Calmar ratio

Return relative to maximum drawdown

6.44

2.45

+3.99

Martin ratio

Return relative to average drawdown

25.18

8.28

+16.90

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HBNK.TO vs. ZLB.TO - Sharpe Ratio Comparison

The current HBNK.TO Sharpe Ratio is 4.03, which is higher than the ZLB.TO Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of HBNK.TO and ZLB.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.

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Sharpe Ratios by Period

HBNK.TOZLB.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

4.03

1.50

+2.53

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

1.23

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.84

—

Sharpe Ratio (All Time)

Calculated using the full available price history

2.36

1.12

+1.24

Correlation

The correlation between HBNK.TO and ZLB.TO is 0.59, 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

HBNK.TO vs. ZLB.TO - Dividend Comparison

HBNK.TO's dividend yield for the trailing twelve months is around 3.19%, more than ZLB.TO's 1.91% yield.

TTM20252024202320222021202020192018201720162015
HBNK.TO
Global X Equal Weight Banks Index ETF		3.19%3.24%4.15%2.45%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
ZLB.TO
BMO Low Volatility Canadian Equity ETF		1.91%1.93%2.28%2.56%2.56%2.29%2.72%2.34%2.65%2.42%2.82%2.25%

Drawdowns

HBNK.TO vs. ZLB.TO - Drawdown Comparison

The maximum HBNK.TO drawdown since its inception was -14.78%, smaller than the maximum ZLB.TO drawdown of -33.96%. Use the drawdown chart below to compare losses from any high point for HBNK.TO and ZLB.TO.

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Drawdown Indicators

HBNK.TOZLB.TODifference

Max Drawdown

Largest peak-to-trough decline

-14.78%

-33.96%

+19.18%

Max Drawdown (1Y)

Largest decline over 1 year

-8.48%

-6.53%

-1.95%

Max Drawdown (5Y)

Largest decline over 5 years

—

-13.04%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.96%

—

Current Drawdown

Current decline from peak

-4.49%

-2.58%

-1.91%

Average Drawdown

Average peak-to-trough decline

-2.41%

-2.51%

+0.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.17%

1.94%

+0.23%

Volatility

HBNK.TO vs. ZLB.TO - Volatility Comparison

Global X Equal Weight Banks Index ETF (HBNK.TO) has a higher volatility of 5.96% compared to BMO Low Volatility Canadian Equity ETF (ZLB.TO) at 3.63%. This indicates that HBNK.TO's price experiences larger fluctuations and is considered to be riskier than ZLB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HBNK.TOZLB.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.96%

3.63%

+2.33%

Volatility (6M)

Calculated over the trailing 6-month period

10.04%

7.65%

+2.39%

Volatility (1Y)

Calculated over the trailing 1-year period

13.56%

10.47%

+3.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.47%

9.56%

+2.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.47%

12.19%

+0.28%