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CFOU.TO vs. ZEB.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CFOU.TO vs. ZEB.TO

Last updated Jun 3, 2026

CFOU.TO (BetaPro S&P/TSX Capped Financials 2x Daily Bull ETF) and ZEB.TO (BMO Equal Weight Banks Index ETF) are both exchange-traded funds - CFOU.TO is a Leveraged Equities fund tracking the S&P/TSX Capped Financials Index, while ZEB.TO is a Financials Equities fund tracking the Solactive Equal Weight Canada Banks Index. Both are passively managed. Over the past 10 years, CFOU.TO returned 23.08%/yr vs 15.87%/yr for ZEB.TO. Their correlation of 0.91 suggests significant overlap in exposure. CFOU.TO charges 1.52%/yr vs 0.25%/yr for ZEB.TO.

Performance

CFOU.TO vs. ZEB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BetaPro S&P/TSX Capped Financials 2x Daily Bull ETF (CFOU.TO) and BMO Equal Weight Banks Index ETF (ZEB.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CFOU.TO achieves a 24.98% return, which is significantly higher than ZEB.TO's 19.74% return. Over the past 10 years, CFOU.TO has outperformed ZEB.TO with an annualized return of 23.08%, while ZEB.TO has yielded a comparatively lower 15.87% annualized return.

CFOU.TO

1D
3.31%
1M
8.97%
YTD
24.98%
6M
36.31%
1Y
92.42%
3Y*
57.98%
5Y*
28.78%
10Y*
23.08%

ZEB.TO

1D
1.98%
1M
4.64%
YTD
19.74%
6M
25.13%
1Y
61.18%
3Y*
32.92%
5Y*
18.25%
10Y*
15.87%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CFOU.TO vs. ZEB.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CFOU.TO
BetaPro S&P/TSX Capped Financials 2x Daily Bull ETF		24.98%69.17%56.15%18.37%-23.64%79.61%-14.70%40.45%-21.67%22.44%
ZEB.TO
BMO Equal Weight Banks Index ETF		19.74%43.43%24.58%10.87%-10.38%39.38%3.52%16.06%-8.85%14.26%

Correlation

The correlation between CFOU.TO and ZEB.TO is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.89

Correlation (3Y)
Calculated over the trailing 3-year period

0.90

Correlation (5Y)
Calculated over the trailing 5-year period

0.92

Correlation (10Y)
Calculated over the trailing 10-year period

0.91

Correlation (All Time)
Calculated using the full available price history since Oct 27, 2009

0.91

The correlation between CFOU.TO and ZEB.TO has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

CFOU.TO vs. ZEB.TO - Sectors Allocation Comparison

Sectors
CFOU.TO
ZEB.TO

Financial Services

100.0%
100.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

CFOU.TO
100.0%
ZEB.TO
100.0%

Basic Materials

CFOU.TO

-

ZEB.TO

-

Communication Services

CFOU.TO

-

ZEB.TO

-

Consumer Cyclical

CFOU.TO

-

ZEB.TO

-

Consumer Defensive

CFOU.TO

-

ZEB.TO

-

Energy

CFOU.TO

-

ZEB.TO

-

Healthcare

CFOU.TO

-

ZEB.TO

-

Industrials

CFOU.TO

-

ZEB.TO

-

Real Estate

CFOU.TO

-

ZEB.TO

-

Technology

CFOU.TO

-

ZEB.TO

-

Utilities

CFOU.TO

-

ZEB.TO

-

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BetaPro S&P/TSX Capped Financials 2x Daily Bull ETF

BMO Equal Weight Banks Index ETF

Often compared with CFOU.TO:
CFOU.TO vs. METE.TOCFOU.TO vs. TCND.TOCFOU.TO vs. CACE.TOCFOU.TO vs. HBNK.TOCFOU.TO vs. RBNK.TOCFOU.TO vs. XCSR.TOCFOU.TO vs. DMEC.TO
Often compared with ZEB.TO:
ZEB.TO vs. ZWB.TOZEB.TO vs. VDY.TOZEB.TO vs. HBNK.TOZEB.TO vs. HCAL.TOZEB.TO vs. HMAX.TOZEB.TO vs. ZSP.TOZEB.TO vs. XIC.TO

Return for Risk

CFOU.TO vs. ZEB.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CFOU.TO
CFOU.TO Risk / Return Rank: 9292
Overall Rank
CFOU.TO Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
CFOU.TO Sortino Ratio Rank: 9292
Sortino Ratio Rank
CFOU.TO Omega Ratio Rank: 9090
Omega Ratio Rank
CFOU.TO Calmar Ratio Rank: 9191
Calmar Ratio Rank
CFOU.TO Martin Ratio Rank: 9292
Martin Ratio Rank
ZEB.TO
ZEB.TO Risk / Return Rank: 9696
Overall Rank
ZEB.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
ZEB.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
ZEB.TO Omega Ratio Rank: 9797
Omega Ratio Rank
ZEB.TO Calmar Ratio Rank: 9494
Calmar Ratio Rank
ZEB.TO Martin Ratio Rank: 9595
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.

CFOU.TO vs. ZEB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BetaPro S&P/TSX Capped Financials 2x Daily Bull ETF (CFOU.TO) and BMO Equal Weight Banks Index ETF (ZEB.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.

CFOU.TOZEB.TODifference

Sharpe ratio

Return per unit of total volatility

3.77

4.88

-1.10

Sortino ratio

Return per unit of downside risk

4.53

6.63

-2.10

Omega ratio

Gain probability vs. loss probability

1.59

1.92

-0.33

Calmar ratio

Return relative to maximum drawdown

5.79

7.25

-1.46

Martin ratio

Return relative to average drawdown

23.74

31.30

-7.56

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

CFOU.TO vs. ZEB.TO - Sharpe Ratio Comparison

The current CFOU.TO Sharpe Ratio is 3.77, which is comparable to the ZEB.TO Sharpe Ratio of 4.88. The chart below compares the historical Sharpe Ratios of CFOU.TO and ZEB.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

CFOU.TOZEB.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.77

4.88

-1.10

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.05

1.36

-0.31

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.69

0.94

-0.26

Sharpe Ratio (All Time)

Calculated using the full available price history

0.34

0.89

-0.55

Drawdowns

CFOU.TO vs. ZEB.TO - Drawdown Comparison

The maximum CFOU.TO drawdown since its inception was -86.23%, which is greater than ZEB.TO's maximum drawdown of -39.69%. Use the drawdown chart below to compare losses from any high point for CFOU.TO and ZEB.TO.

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Drawdown Indicators

CFOU.TOZEB.TODifference

Max Drawdown

Largest peak-to-trough decline

-86.23%

-39.69%

-46.54%

Max Drawdown (1Y)

Largest decline over 1 year

-16.08%

-8.44%

-7.64%

Max Drawdown (3Y)

Largest decline over 3 years

-24.95%

-14.80%

-10.15%

Max Drawdown (5Y)

Largest decline over 5 years

-45.23%

-25.97%

-19.26%

Max Drawdown (10Y)

Largest decline over 10 years

-67.29%

-39.69%

-27.60%

Current Drawdown

Current decline from peak

-1.85%

-1.57%

-0.28%

Average Drawdown

Average peak-to-trough decline

-22.47%

-5.65%

-16.82%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.92%

1.95%

+1.97%

Volatility

CFOU.TO vs. ZEB.TO - Volatility Comparison

BetaPro S&P/TSX Capped Financials 2x Daily Bull ETF (CFOU.TO) has a higher volatility of 8.37% compared to BMO Equal Weight Banks Index ETF (ZEB.TO) at 5.08%. This indicates that CFOU.TO's price experiences larger fluctuations and is considered to be riskier than ZEB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CFOU.TOZEB.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

8.37%

5.08%

+3.29%

Volatility (6M)

Calculated over the trailing 6-month period

21.00%

11.19%

+9.81%

Volatility (1Y)

Calculated over the trailing 1-year period

24.64%

12.61%

+12.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

27.56%

13.50%

+14.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

33.85%

16.90%

+16.95%

CFOU.TO vs. ZEB.TO - Expense Ratio Comparison

CFOU.TO has a 1.52% expense ratio, which is higher than ZEB.TO's 0.25% expense ratio.

Dividends

CFOU.TO vs. ZEB.TO - Dividend Comparison

CFOU.TO has not paid dividends to shareholders, while ZEB.TO's dividend yield for the trailing twelve months is around 2.52%.

PositionTTM20252024202320222021202020192018201720162015
CFOU.TO
BetaPro S&P/TSX Capped Financials 2x Daily Bull ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
ZEB.TO
BMO Equal Weight Banks Index ETF		2.52%2.95%3.98%4.75%4.29%3.13%4.15%3.65%3.64%3.02%3.19%3.70%

Frequently Asked Questions

CFOU.TO and ZEB.TO have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZEB.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZEB.TO is cheaper with a 0.25% expense ratio, compared with 1.52% for CFOU.TO.

CFOU.TO is categorized as Leveraged Equities, while ZEB.TO is Financials Equities. CFOU.TO tracks S&P/TSX Capped Financials Index, while ZEB.TO tracks Solactive Equal Weight Canada Banks Index. They also come from different issuers: Global X and BMO. Their fees differ too: 1.52% for CFOU.TO and 0.25% for ZEB.TO.

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