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EPI vs. ZSP.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EPI vs. ZSP.TO

Last updated Jun 13, 2026

EPI (WisdomTree India Earnings Fund) and ZSP.TO (BMO S&P 500 Index ETF) are both exchange-traded funds - EPI is a Asia Pacific Equities fund tracking the WisdomTree India Earnings Index, while ZSP.TO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, EPI returned 9.31%/yr vs 15.12%/yr for ZSP.TO. At a 0.33 correlation, their price movements are largely independent. EPI charges 0.84%/yr vs 0.09%/yr for ZSP.TO.

Performance

EPI vs. ZSP.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree India Earnings Fund (EPI) and BMO S&P 500 Index ETF (ZSP.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

EPI is traded in USD, while ZSP.TO is traded in CAD. To make them comparable, the ZSP.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, EPI achieves a -9.12% return, which is significantly lower than ZSP.TO's 8.69% return. Over the past 10 years, EPI has underperformed ZSP.TO with an annualized return of 9.31%, while ZSP.TO has yielded a comparatively higher 15.12% annualized return.

EPI

1D
0.65%
1M
-0.33%
YTD
-9.12%
6M
-6.55%
1Y
-10.30%
3Y*
7.36%
5Y*
5.53%
10Y*
9.31%

ZSP.TO

1D
0.45%
1M
-0.16%
YTD
8.69%
6M
9.38%
1Y
24.69%
3Y*
20.80%
5Y*
12.99%
10Y*
15.12%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EPI vs. ZSP.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EPI
WisdomTree India Earnings Fund		-9.12%2.25%10.70%26.03%-4.74%26.41%18.55%1.53%-9.88%39.14%
ZSP.TO
BMO S&P 500 Index ETF		8.69%17.73%24.53%26.31%-17.88%27.60%18.42%30.05%-4.73%21.85%

Correlation

The correlation between EPI and ZSP.TO is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.33

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

0.34

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

0.37

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

0.33

Correlation (All Time)
Calculated using the full available price history since Nov 26, 2012

0.33

EPI vs. ZSP.TO - Sectors Allocation Comparison

Sectors
EPI
ZSP.TO

Financial Services

23.4%
11.9%

Energy

17.3%
3.5%

Basic Materials

13.5%
1.8%

Industrials

9.7%
8.2%

Utilities

8.4%
2.3%

Technology

8.3%
36.2%

Consumer Cyclical

7.5%
10.1%

Healthcare

5.5%
8.4%

Consumer Defensive

3.5%
4.8%

Communication Services

2.0%
10.9%

Real Estate

0.9%
1.9%

Financial Services

EPI
23.4%
ZSP.TO
11.9%

Energy

EPI
17.3%
ZSP.TO
3.5%

Basic Materials

EPI
13.5%
ZSP.TO
1.8%

Industrials

EPI
9.7%
ZSP.TO
8.2%

Utilities

EPI
8.4%
ZSP.TO
2.3%

Technology

EPI
8.3%
ZSP.TO
36.2%

Consumer Cyclical

EPI
7.5%
ZSP.TO
10.1%

Healthcare

EPI
5.5%
ZSP.TO
8.4%

Consumer Defensive

EPI
3.5%
ZSP.TO
4.8%

Communication Services

EPI
2.0%
ZSP.TO
10.9%

Real Estate

EPI
0.9%
ZSP.TO
1.9%

Compare stocks, funds, or ETFs

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WisdomTree India Earnings Fund

BMO S&P 500 Index ETF

Often compared with EPI:
EPI vs. INDAEPI vs. FLINEPI vs. INDYEPI vs. SMINEPI vs. NFTYEPI vs. GLINEPI vs. INCO
Often compared with ZSP.TO:
ZSP.TO vs. VOOZSP.TO vs. XSP.TOZSP.TO vs. ZCN.TOZSP.TO vs. XUS.TOZSP.TO vs. ZEQT.TOZSP.TO vs. VSP.TOZSP.TO vs. ZQQ.TO

Return for Risk

EPI vs. ZSP.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EPI
EPI Risk / Return Rank: 44
Overall Rank
EPI Sharpe Ratio Rank: 44
Sharpe Ratio Rank
EPI Sortino Ratio Rank: 44
Sortino Ratio Rank
EPI Omega Ratio Rank: 44
Omega Ratio Rank
EPI Calmar Ratio Rank: 55
Calmar Ratio Rank
EPI Martin Ratio Rank: 22
Martin Ratio Rank
ZSP.TO
ZSP.TO Risk / Return Rank: 7979
Overall Rank
ZSP.TO Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
ZSP.TO Sortino Ratio Rank: 8181
Sortino Ratio Rank
ZSP.TO Omega Ratio Rank: 8383
Omega Ratio Rank
ZSP.TO Calmar Ratio Rank: 7373
Calmar Ratio Rank
ZSP.TO Martin Ratio Rank: 7474
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.

EPI vs. ZSP.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree India Earnings Fund (EPI) and BMO S&P 500 Index ETF (ZSP.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.

EPIZSP.TODifference
Sharpe ratioReturn per unit of total volatility
-0.69
1.92

-2.61

Sortino ratioReturn per unit of downside risk
-0.90
2.61

-3.51

Omega ratioGain probability vs. loss probability

0.90

1.35

-0.46

Calmar ratioReturn relative to maximum drawdown

-0.61

2.72

-3.34

Martin ratioReturn relative to average drawdown

-1.44

11.64

-13.08

EPI vs. ZSP.TO - Sharpe Ratio Comparison

The current EPI Sharpe Ratio is -0.69, which is lower than the ZSP.TO Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of EPI and ZSP.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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Drawdowns

EPI vs. ZSP.TO - Drawdown Comparison

The maximum EPI drawdown since its inception was -66.21%, which is greater than ZSP.TO's maximum drawdown of -33.11%. Use the drawdown chart below to compare losses from any high point for EPI and ZSP.TO.

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Drawdown Indicators

EPIZSP.TODifference

Max Drawdown

Largest peak-to-trough decline

-66.21%

-33.11%

-33.10%

Max Drawdown (1Y)

Largest decline over 1 year

-16.88%

-9.11%

-7.77%

Max Drawdown (3Y)

Largest decline over 3 years

-21.89%

-18.80%

-3.09%

Max Drawdown (5Y)

Largest decline over 5 years

-21.89%

-24.35%

+2.46%

Max Drawdown (10Y)

Largest decline over 10 years

-50.29%

-33.11%

-17.18%

Current Drawdown

Current decline from peak

-17.00%

-2.52%

-14.48%

Average Drawdown

Average peak-to-trough decline

-18.65%

-3.85%

-14.80%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.17%

2.13%

+5.04%

Volatility

EPI vs. ZSP.TO - Volatility Comparison

The current volatility for WisdomTree India Earnings Fund (EPI) is 4.09%, while BMO S&P 500 Index ETF (ZSP.TO) has a volatility of 4.55%. This indicates that EPI experiences smaller price fluctuations and is considered to be less risky than ZSP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EPIZSP.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.09%

4.55%

-0.46%

Volatility (6M)

Calculated over the trailing 6-month period

12.88%

9.83%

+3.05%

Volatility (1Y)

Calculated over the trailing 1-year period

15.07%

12.90%

+2.17%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.23%

16.16%

+0.07%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.35%

17.54%

+2.81%

EPI vs. ZSP.TO - Expense Ratio Comparison

EPI has a 0.84% expense ratio, which is higher than ZSP.TO's 0.09% expense ratio.

Dividends

EPI vs. ZSP.TO - Dividend Comparison

EPI has not paid dividends to shareholders, while ZSP.TO's dividend yield for the trailing twelve months is around 0.76%.

PositionTTM20252024202320222021202020192018201720162015
EPI
WisdomTree India Earnings Fund		0.00%0.00%0.27%0.15%6.01%1.18%0.78%1.17%1.18%0.85%1.05%1.20%
ZSP.TO
BMO S&P 500 Index ETF		0.76%0.82%0.94%1.33%1.44%1.15%1.45%1.48%1.68%1.68%2.23%1.60%

Frequently Asked Questions

EPI and ZSP.TO have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZSP.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZSP.TO is cheaper with a 0.09% expense ratio, compared with 0.84% for EPI.

EPI is categorized as Asia Pacific Equities, while ZSP.TO is S&P 500. EPI tracks WisdomTree India Earnings Index, while ZSP.TO tracks S&P 500 Index. They also come from different issuers: WisdomTree and BMO. Their fees differ too: 0.84% for EPI and 0.09% for ZSP.TO.

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