BNKL.TO vs. ZBK.TO
BNKL.TO (Global X Enhanced Equal Weight Banks Index ETF) and ZBK.TO (BMO Equal Weight US Banks Index ETF) are both Financials Equities funds. Over the past 3 years, BNKL.TO returned 45.31%/yr vs 33.19%/yr for ZBK.TO. At a 0.36 correlation, their price movements are largely independent.
Performance
BNKL.TO vs. ZBK.TO - Performance Comparison
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Returns By Period
In the year-to-date period, BNKL.TO achieves a 41.88% return, which is significantly higher than ZBK.TO's 16.91% return.
BNKL.TO
- 1D
- 1.01%
- 1M
- 9.85%
- 6M
- 40.22%
- YTD
- 41.88%
- 1Y
- 92.78%
- 3Y*
- 45.31%
- 5Y*
- —
- 10Y*
- —
ZBK.TO
- 1D
- -0.10%
- 1M
- 4.57%
- 6M
- 12.82%
- YTD
- 16.91%
- 1Y
- 30.66%
- 3Y*
- 33.19%
- 5Y*
- 11.61%
- 10Y*
- 13.87%
BNKL.TO vs. ZBK.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BNKL.TO Global X Enhanced Equal Weight Banks Index ETF | 41.88% | 55.98% | 29.92% | 7.40% |
ZBK.TO BMO Equal Weight US Banks Index ETF | 16.91% | 16.76% | 46.09% | 18.08% |
Correlation
The correlation between BNKL.TO and ZBK.TO is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2023 | 0.36 |
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Return for Risk
BNKL.TO vs. ZBK.TO — Risk / Return Rank
BNKL.TO
ZBK.TO
BNKL.TO vs. ZBK.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 BMO Equal Weight US Banks Index ETF (ZBK.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BNKL.TO | ZBK.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.40 | ||
| Sortino ratioReturn per unit of downside risk | +5.42 | ||
| Omega ratioGain probability vs. loss probability | 2.02 | 1.26 | +0.76 |
| Calmar ratioReturn relative to maximum drawdown | 8.65 | 1.86 | +6.79 |
| Martin ratioReturn relative to average drawdown | 37.46 | 5.52 | +31.94 |
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Drawdowns
BNKL.TO vs. ZBK.TO - Drawdown Comparison
The maximum BNKL.TO drawdown since its inception was -18.58%, smaller than the maximum ZBK.TO drawdown of -48.80%. Use the drawdown chart below to compare losses from any high point for BNKL.TO and ZBK.TO.
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Drawdown Indicators
| BNKL.TO | ZBK.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.58% | -48.80% | +30.22% |
Max Drawdown (1Y)Largest decline over 1 year | -10.79% | -16.57% | +5.78% |
Max Drawdown (3Y)Largest decline over 3 years | -18.58% | -26.70% | +8.12% |
Max Drawdown (5Y)Largest decline over 5 years | — | -48.80% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.80% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.77% | +0.77% |
Average DrawdownAverage peak-to-trough decline | -2.96% | -12.29% | +9.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.49% | 5.57% | -3.08% |
Volatility
BNKL.TO vs. ZBK.TO - Volatility Comparison
The current volatility for Global X Enhanced Equal Weight Banks Index ETF (BNKL.TO) is 4.82%, while BMO Equal Weight US Banks Index ETF (ZBK.TO) has a volatility of 5.11%. This indicates that BNKL.TO experiences smaller price fluctuations and is considered to be less risky than ZBK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNKL.TO | ZBK.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.82% | 5.11% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 13.49% | 15.67% | -2.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.91% | 20.92% | -5.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.81% | 26.49% | -10.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.81% | 28.76% | -12.95% |
Dividends
BNKL.TO vs. ZBK.TO - Dividend Comparison
BNKL.TO's dividend yield for the trailing twelve months is around 2.58%, more than ZBK.TO's 1.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BNKL.TO Global X Enhanced Equal Weight Banks Index ETF | 2.58% | 3.40% | 4.39% | 2.79% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZBK.TO BMO Equal Weight US Banks Index ETF | 1.63% | 1.84% | 2.09% | 2.92% | 2.35% | 1.92% | 2.62% | 2.17% | 1.78% | 1.12% | 1.22% | 1.26% |
Frequently Asked Questions
BNKL.TO and ZBK.TO have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Global X and BMO.
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