CAUS.TO vs. ZEQL.TO

Last updated Jun 5, 2026

CAUS.TO (Avantis CIBC U.S. All-Cap Equity ETF) and ZEQL.TO (BMO MSCI USA Equal Weight Index ETF (CAD Units)) are both Large Cap Blend Equities funds. CAUS.TO is actively managed, while ZEQL.TO is passively managed. A 0.80 correlation means they provide meaningful diversification when combined. CAUS.TO charges 0.19%/yr vs 0.05%/yr for ZEQL.TO.

Performance

CAUS.TO vs. ZEQL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Avantis CIBC U.S. All-Cap Equity ETF (CAUS.TO) and BMO MSCI USA Equal Weight Index ETF (CAD Units) (ZEQL.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CAUS.TO

• 1D: 0.67%
• 1M: 6.07%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ZEQL.TO

• 1D: 0.74%
• 1M: 5.81%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CAUS.TO vs. ZEQL.TO - Yearly Performance Comparison

	2026 (YTD)
CAUS.TO Avantis CIBC U.S. All-Cap Equity ETF	10.74%
ZEQL.TO BMO MSCI USA Equal Weight Index ETF (CAD Units)	7.11%

Correlation

The correlation between CAUS.TO and ZEQL.TO is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 23, 2026	0.80

Return for Risk

CAUS.TO vs. ZEQL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis CIBC U.S. All-Cap Equity ETF (CAUS.TO) and BMO MSCI USA Equal Weight Index ETF (CAD Units) (ZEQL.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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	CAUS.TO	ZEQL.TO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.79	2.21	+0.58

Drawdowns

CAUS.TO vs. ZEQL.TO - Drawdown Comparison

The maximum CAUS.TO drawdown since its inception was -6.25%, roughly equal to the maximum ZEQL.TO drawdown of -6.12%. Use the drawdown chart below to compare losses from any high point for CAUS.TO and ZEQL.TO.

Drawdown Indicators

	CAUS.TO	ZEQL.TO	Difference
Max Drawdown Largest peak-to-trough decline	-6.25%	-6.12%	-0.13%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.66%	-1.67%	+0.01%

Volatility

Volatility by Period

	CAUS.TO	ZEQL.TO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	15.47%	12.89%	+2.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.47%	12.89%	+2.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.47%	12.89%	+2.58%

CAUS.TO vs. ZEQL.TO - Expense Ratio Comparison

CAUS.TO has a 0.19% expense ratio, which is higher than ZEQL.TO's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

CAUS.TO vs. ZEQL.TO - Dividend Comparison

CAUS.TO has not paid dividends to shareholders, while ZEQL.TO's dividend yield for the trailing twelve months is around 0.37%.

Position	TTM
CAUS.TO Avantis CIBC U.S. All-Cap Equity ETF	0.00%
ZEQL.TO BMO MSCI USA Equal Weight Index ETF (CAD Units)	0.37%

Frequently Asked Questions

Can I hold both CAUS.TO and ZEQL.TO in my portfolio?

CAUS.TO and ZEQL.TO have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CAUS.TO or ZEQL.TO?

On fees, ZEQL.TO is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CAUS.TO or ZEQL.TO?

ZEQL.TO is cheaper with a 0.05% expense ratio, compared with 0.19% for CAUS.TO.

What is the main difference between CAUS.TO and ZEQL.TO?

They also come from different issuers: Avantis and BMO. Their fees differ too: 0.19% for CAUS.TO and 0.05% for ZEQL.TO.