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HUC.TO vs. ZEA.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HUC.TO vs. ZEA.TO

Last updated Jun 4, 2026

HUC.TO (Global X Crude Oil ETF) and ZEA.TO (BMO MSCI EAFE Index ETF) are both exchange-traded funds - HUC.TO is a Commodities fund tracking the Solactive Light Sweet Crude Oil Winter MD Rolling Futures Index ER, while ZEA.TO is a Global Equities fund tracking the MSCI EAFE Index. Both are passively managed. Over the past 10 years, HUC.TO returned 8.61%/yr vs 9.90%/yr for ZEA.TO. At a 0.10 correlation, their price movements are largely independent. HUC.TO charges 1.09%/yr vs 0.22%/yr for ZEA.TO.

Performance

HUC.TO vs. ZEA.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Crude Oil ETF (HUC.TO) and BMO MSCI EAFE Index ETF (ZEA.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, HUC.TO achieves a 45.00% return, which is significantly higher than ZEA.TO's 10.79% return. Over the past 10 years, HUC.TO has underperformed ZEA.TO with an annualized return of 8.61%, while ZEA.TO has yielded a comparatively higher 9.90% annualized return.

HUC.TO

1D
1.46%
1M
-1.28%
YTD
45.00%
6M
41.59%
1Y
40.27%
3Y*
12.31%
5Y*
13.32%
10Y*
8.61%

ZEA.TO

1D
0.72%
1M
4.84%
YTD
10.79%
6M
10.55%
1Y
22.50%
3Y*
17.95%
5Y*
11.18%
10Y*
9.90%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HUC.TO vs. ZEA.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HUC.TO
Global X Crude Oil ETF		45.00%-13.63%7.23%-2.89%26.25%57.81%-21.10%19.75%-11.68%-3.47%
ZEA.TO
BMO MSCI EAFE Index ETF		10.79%24.28%11.56%16.02%-8.51%10.64%5.13%16.71%-6.24%16.77%

Correlation

The correlation between HUC.TO and ZEA.TO is -0.32, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

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

-0.32

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

-0.07

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

0.04

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

0.11

Correlation (All Time)
Calculated using the full available price history since Feb 18, 2014

0.10

The correlation between HUC.TO and ZEA.TO shifts across timeframes, from -0.32 (1 year) to 0.11 (10 years), reflecting how their relationship changes across market environments.

HUC.TO vs. ZEA.TO - Sectors Allocation Comparison

Sectors
HUC.TO
ZEA.TO

Real Estate

18.4%
1.9%

Basic Materials

-

6.0%

Communication Services

-

4.6%

Consumer Cyclical

-

7.6%

Consumer Defensive

-

6.8%

Energy

-

3.9%

Financial Services

-

24.4%

Healthcare

-

10.5%

Industrials

-

20.0%

Technology

-

10.5%

Utilities

-

3.9%

Real Estate

HUC.TO
18.4%
ZEA.TO
1.9%

Basic Materials

HUC.TO

-

ZEA.TO
6.0%

Communication Services

HUC.TO

-

ZEA.TO
4.6%

Consumer Cyclical

HUC.TO

-

ZEA.TO
7.6%

Consumer Defensive

HUC.TO

-

ZEA.TO
6.8%

Energy

HUC.TO

-

ZEA.TO
3.9%

Financial Services

HUC.TO

-

ZEA.TO
24.4%

Healthcare

HUC.TO

-

ZEA.TO
10.5%

Industrials

HUC.TO

-

ZEA.TO
20.0%

Technology

HUC.TO

-

ZEA.TO
10.5%

Utilities

HUC.TO

-

ZEA.TO
3.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Global X Crude Oil ETF

BMO MSCI EAFE Index ETF

Often compared with HUC.TO:
HUC.TO vs. HXS.TOHUC.TO vs. HUN.TOHUC.TO vs. XBM.TOHUC.TO vs. CCOM.TOHUC.TO vs. ZCOM.NEOHUC.TO vs. COW.TOHUC.TO vs. PPA
Often compared with ZEA.TO:
ZEA.TO vs. XEF.TOZEA.TO vs. XEQT.TOZEA.TO vs. VXC.TOZEA.TO vs. XAW.TOZEA.TO vs. IEFAZEA.TO vs. VDU.TOZEA.TO vs. ZSP.TO

Return for Risk

HUC.TO vs. ZEA.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HUC.TO
HUC.TO Risk / Return Rank: 4444
Overall Rank
HUC.TO Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
HUC.TO Sortino Ratio Rank: 4141
Sortino Ratio Rank
HUC.TO Omega Ratio Rank: 4646
Omega Ratio Rank
HUC.TO Calmar Ratio Rank: 5151
Calmar Ratio Rank
HUC.TO Martin Ratio Rank: 3333
Martin Ratio Rank
ZEA.TO
ZEA.TO Risk / Return Rank: 4747
Overall Rank
ZEA.TO Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
ZEA.TO Sortino Ratio Rank: 4848
Sortino Ratio Rank
ZEA.TO Omega Ratio Rank: 4949
Omega Ratio Rank
ZEA.TO Calmar Ratio Rank: 4343
Calmar Ratio Rank
ZEA.TO Martin Ratio Rank: 4949
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.

HUC.TO vs. ZEA.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Crude Oil ETF (HUC.TO) and BMO MSCI EAFE Index ETF (ZEA.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.

HUC.TOZEA.TODifference
Sharpe ratioReturn per unit of total volatility
1.60
1.62

-0.03

Sortino ratioReturn per unit of downside risk
2.10
2.32

-0.23

Omega ratioGain probability vs. loss probability

1.29

1.30

-0.01

Calmar ratioReturn relative to maximum drawdown

2.50

2.07

+0.42

Martin ratioReturn relative to average drawdown

4.94

8.07

-3.13

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

HUC.TO vs. ZEA.TO - Sharpe Ratio Comparison

The current HUC.TO Sharpe Ratio is 1.60, which is comparable to the ZEA.TO Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of HUC.TO and ZEA.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

HUC.TOZEA.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.60

1.62

-0.03

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.48

0.83

-0.35

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.30

0.67

-0.37

Sharpe Ratio (All Time)

Calculated using the full available price history

0.13

0.60

-0.47

Drawdowns

HUC.TO vs. ZEA.TO - Drawdown Comparison

The maximum HUC.TO drawdown since its inception was -76.99%, which is greater than ZEA.TO's maximum drawdown of -27.80%. Use the drawdown chart below to compare losses from any high point for HUC.TO and ZEA.TO.

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Drawdown Indicators

HUC.TOZEA.TODifference

Max Drawdown

Largest peak-to-trough decline

-76.99%

-27.80%

-49.19%

Max Drawdown (1Y)

Largest decline over 1 year

-16.20%

-10.91%

-5.29%

Max Drawdown (3Y)

Largest decline over 3 years

-23.83%

-14.11%

-9.72%

Max Drawdown (5Y)

Largest decline over 5 years

-30.83%

-23.67%

-7.16%

Max Drawdown (10Y)

Largest decline over 10 years

-61.56%

-27.80%

-33.76%

Current Drawdown

Current decline from peak

-2.80%

-1.43%

-1.37%

Average Drawdown

Average peak-to-trough decline

-34.61%

-4.63%

-29.98%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.17%

2.79%

+5.38%

Volatility

HUC.TO vs. ZEA.TO - Volatility Comparison

Global X Crude Oil ETF (HUC.TO) has a higher volatility of 11.26% compared to BMO MSCI EAFE Index ETF (ZEA.TO) at 5.56%. This indicates that HUC.TO's price experiences larger fluctuations and is considered to be riskier than ZEA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HUC.TOZEA.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

11.26%

5.56%

+5.70%

Volatility (6M)

Calculated over the trailing 6-month period

21.17%

11.70%

+9.47%

Volatility (1Y)

Calculated over the trailing 1-year period

25.36%

13.93%

+11.43%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

27.85%

13.51%

+14.34%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

29.04%

14.92%

+14.12%

HUC.TO vs. ZEA.TO - Expense Ratio Comparison

HUC.TO has a 1.09% expense ratio, which is higher than ZEA.TO's 0.22% expense ratio.

Dividends

HUC.TO vs. ZEA.TO - Dividend Comparison

HUC.TO has not paid dividends to shareholders, while ZEA.TO's dividend yield for the trailing twelve months is around 1.92%.

PositionTTM20252024202320222021202020192018201720162015
HUC.TO
Global X Crude Oil 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%
ZEA.TO
BMO MSCI EAFE Index ETF		1.92%2.17%2.77%3.00%3.06%2.48%2.72%2.93%3.03%2.39%2.78%2.42%

Frequently Asked Questions

HUC.TO and ZEA.TO have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZEA.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZEA.TO is cheaper with a 0.22% expense ratio, compared with 1.09% for HUC.TO.

HUC.TO is categorized as Commodities, while ZEA.TO is Global Equities. HUC.TO tracks Solactive Light Sweet Crude Oil Winter MD Rolling Futures Index ER, while ZEA.TO tracks MSCI EAFE Index. They also come from different issuers: Global X and BMO. Their fees differ too: 1.09% for HUC.TO and 0.22% for ZEA.TO.

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