Canada's Big Six banks (RBC, TD, Scotiabank, BMO, CIBC, National Bank) make up roughly 25% of the TSX by market cap and pay some of the most reliable dividends in the country. Bank-focused ETFs concentrate that exposure into a single, diversified holding — useful for income investors who want to overweight the sector.
| Ticker | Name | MER | AUM | Distribution |
|---|---|---|---|---|
| ZEB | BMO Equal Weight Banks Index ETF | 0.28% | $3.1B | Monthly |
Largest by AUM: ZEB ($3.1B). Lowest MER: ZEB at 0.28%. AUM and MER are approximate snapshots — confirm on the issuer's fund page before investing.
The cleanest pure-bank ETF is ZEB (BMO Equal Weight Banks) at 0.28% MER, holding the Big Six in equal weight (rebalanced semi-annually). Equal weight prevents one bank from dominating the fund's performance. For higher yield, ZWB writes covered calls on the same banks — boosts distributions to ~6% but caps upside. HBNK (Hamilton Canadian Bank Equal-Weight Index ETF) is a newer, lower-MER alternative at 0.19%. For non-equal-weighted banks, you can also use ZUB (US banks) or broader financial-sector ETFs.
Need filters by issuer, MER, AUM, or distribution frequency? Compare across other sector ETFs. For one-ticker portfolios, see which account to fund first, and the compound interest calculator to model long-term contributions.
Snapshot date: 2026-04-15. 1 Canadian-listed ETFs covering canadian banks, with MERs from 0.28% to 0.28%. Educational only — not advice. Verify all rates and holdings with the issuer before investing.
Last reviewed: April 2026