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EQCL.TO vs. ZGRO.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

EQCL.TO vs. ZGRO.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Global X Enhanced All-Equity Asset Allocation Covered Call ETF CAD (EQCL.TO) and BMO Growth ETF (ZGRO.TO).

EQCL.TO and ZGRO.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EQCL.TO is an actively managed fund by Global X. It was launched on Oct 10, 2023. ZGRO.TO is an actively managed fund by BMO. It was launched on Feb 11, 2019.

Performance

EQCL.TO vs. ZGRO.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Enhanced All-Equity Asset Allocation Covered Call ETF CAD (EQCL.TO) and BMO Growth ETF (ZGRO.TO). The values are adjusted to include any dividend payments, if applicable.

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EQCL.TO vs. ZGRO.TO - Yearly Performance Comparison

2026 (YTD)202520242023
EQCL.TO
Global X Enhanced All-Equity Asset Allocation Covered Call ETF CAD		-0.76%16.95%24.04%3.94%
ZGRO.TO
BMO Growth ETF		0.36%16.39%20.71%7.12%

Returns By Period

In the year-to-date period, EQCL.TO achieves a -0.76% return, which is significantly lower than ZGRO.TO's 0.36% return.

EQCL.TO

1D
2.42%
1M
-5.23%
YTD
-0.76%
6M
2.69%
1Y
16.17%
3Y*
—
5Y*
—
10Y*
—

ZGRO.TO

1D
1.16%
1M
-4.08%
YTD
0.36%
6M
2.70%
1Y
16.64%
3Y*
15.19%
5Y*
9.89%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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Global X Enhanced All-Equity Asset Allocation Covered Call ETF CAD

BMO Growth ETF

Often compared with EQCL.TO:
EQCL.TO vs. XEQT.TOEQCL.TO vs. HYLD.TOEQCL.TO vs. HEQL.TOEQCL.TO vs. HEQT.TOEQCL.TO vs. VFV.TOEQCL.TO vs. VEQT.TOEQCL.TO vs. QQCL.TO
Often compared with ZGRO.TO:
ZGRO.TO vs. VGRO.TOZGRO.TO vs. XGRO.TOZGRO.TO vs. TGRO.TOZGRO.TO vs. XEQT.TOZGRO.TO vs. VFV.TOZGRO.TO vs. ZBAL.TOZGRO.TO vs. XDIV.TO

EQCL.TO vs. ZGRO.TO - Expense Ratio Comparison

EQCL.TO has a 2.20% expense ratio, which is higher than ZGRO.TO's 0.18% expense ratio.

EQCL.TO
Global X Enhanced All-Equity Asset Allocation Covered Call ETF CAD
ZGRO.TO
BMO Growth ETF

Return for Risk

EQCL.TO vs. ZGRO.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EQCL.TO
EQCL.TO Risk / Return Rank: 5252
Overall Rank
EQCL.TO Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
EQCL.TO Sortino Ratio Rank: 4949
Sortino Ratio Rank
EQCL.TO Omega Ratio Rank: 5858
Omega Ratio Rank
EQCL.TO Calmar Ratio Rank: 4646
Calmar Ratio Rank
EQCL.TO Martin Ratio Rank: 5757
Martin Ratio Rank
ZGRO.TO
ZGRO.TO Risk / Return Rank: 7272
Overall Rank
ZGRO.TO Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
ZGRO.TO Sortino Ratio Rank: 7171
Sortino Ratio Rank
ZGRO.TO Omega Ratio Rank: 7171
Omega Ratio Rank
ZGRO.TO Calmar Ratio Rank: 7272
Calmar Ratio Rank
ZGRO.TO Martin Ratio Rank: 7575
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.

EQCL.TO vs. ZGRO.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Enhanced All-Equity Asset Allocation Covered Call ETF CAD (EQCL.TO) and BMO Growth ETF (ZGRO.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.

EQCL.TOZGRO.TODifference

Sharpe ratio

Return per unit of total volatility

0.83

1.24

-0.40

Sortino ratio

Return per unit of downside risk

1.27

1.73

-0.46

Omega ratio

Gain probability vs. loss probability

1.21

1.25

-0.05

Calmar ratio

Return relative to maximum drawdown

1.10

1.76

-0.65

Martin ratio

Return relative to average drawdown

5.42

7.43

-2.01

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

EQCL.TO vs. ZGRO.TO - Sharpe Ratio Comparison

The current EQCL.TO Sharpe Ratio is 0.83, which is lower than the ZGRO.TO Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of EQCL.TO and ZGRO.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

EQCL.TOZGRO.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.83

1.24

-0.40

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.94

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.21

0.82

+0.39

Correlation

The correlation between EQCL.TO and ZGRO.TO is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

EQCL.TO vs. ZGRO.TO - Dividend Comparison

EQCL.TO's dividend yield for the trailing twelve months is around 10.88%, more than ZGRO.TO's 1.63% yield.

TTM2025202420232022202120202019
EQCL.TO
Global X Enhanced All-Equity Asset Allocation Covered Call ETF CAD		10.88%11.51%10.96%2.87%0.00%0.00%0.00%0.00%
ZGRO.TO
BMO Growth ETF		1.63%1.70%1.92%2.27%2.54%2.22%2.49%2.32%

Drawdowns

EQCL.TO vs. ZGRO.TO - Drawdown Comparison

The maximum EQCL.TO drawdown since its inception was -18.97%, smaller than the maximum ZGRO.TO drawdown of -24.64%. Use the drawdown chart below to compare losses from any high point for EQCL.TO and ZGRO.TO.

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Drawdown Indicators

EQCL.TOZGRO.TODifference

Max Drawdown

Largest peak-to-trough decline

-18.97%

-24.64%

+5.67%

Max Drawdown (1Y)

Largest decline over 1 year

-15.29%

-9.83%

-5.46%

Max Drawdown (5Y)

Largest decline over 5 years

—

-17.19%

—

Current Drawdown

Current decline from peak

-5.50%

-4.35%

-1.15%

Average Drawdown

Average peak-to-trough decline

-1.69%

-3.43%

+1.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.11%

2.32%

+0.79%

Volatility

EQCL.TO vs. ZGRO.TO - Volatility Comparison

Global X Enhanced All-Equity Asset Allocation Covered Call ETF CAD (EQCL.TO) has a higher volatility of 7.26% compared to BMO Growth ETF (ZGRO.TO) at 5.60%. This indicates that EQCL.TO's price experiences larger fluctuations and is considered to be riskier than ZGRO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EQCL.TOZGRO.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

7.26%

5.60%

+1.66%

Volatility (6M)

Calculated over the trailing 6-month period

10.34%

8.71%

+1.63%

Volatility (1Y)

Calculated over the trailing 1-year period

19.48%

13.50%

+5.98%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.05%

10.62%

+4.43%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.05%

13.00%

+2.05%