HXT.TO vs. ZEO.TO

Last updated Jun 4, 2026

HXT.TO (Global X S&P/TSX 60 Corporate Class ETF) and ZEO.TO (BMO Equal Weight Oil & Gas Index ETF) are both exchange-traded funds - HXT.TO is a Canada Equities fund tracking the S&P/TSX 60 Index, while ZEO.TO is a Energy Equities fund tracking the Solactive Equal Weight Canada Oil & Gas Index. Both are passively managed. Over the past 10 years, HXT.TO returned 12.71%/yr vs 10.67%/yr for ZEO.TO. A 0.65 correlation means they provide meaningful diversification when combined. HXT.TO charges 0.07%/yr vs 0.60%/yr for ZEO.TO.

Performance

HXT.TO vs. ZEO.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X S&P/TSX 60 Corporate Class ETF (HXT.TO) and BMO Equal Weight Oil & Gas Index ETF (ZEO.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HXT.TO achieves a 10.03% return, which is significantly lower than ZEO.TO's 37.72% return. Over the past 10 years, HXT.TO has outperformed ZEO.TO with an annualized return of 12.71%, while ZEO.TO has yielded a comparatively lower 10.67% annualized return.

HXT.TO

• 1D: -0.87%
• 1M: 3.51%
• YTD: 10.03%
• 6M: 12.04%
• 1Y: 31.51%
• 3Y*: 22.48%
• 5Y*: 14.43%
• 10Y*: 12.71%

ZEO.TO

• 1D: 0.65%
• 1M: 2.51%
• YTD: 37.72%
• 6M: 32.21%
• 1Y: 50.73%
• 3Y*: 27.08%
• 5Y*: 25.42%
• 10Y*: 10.67%

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

HXT.TO vs. ZEO.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HXT.TO Global X S&P/TSX 60 Corporate Class ETF	10.03%	28.74%	20.94%	12.02%	-6.27%	28.11%	5.36%	22.18%	-7.89%	9.77%
ZEO.TO BMO Equal Weight Oil & Gas Index ETF	37.72%	12.35%	21.51%	5.98%	39.67%	63.65%	-28.56%	16.50%	-25.62%	-12.74%

Correlation

The correlation between HXT.TO and ZEO.TO is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Sep 16, 2010	0.65

Over the past year, the correlation between HXT.TO and ZEO.TO has dropped to 0.08 - well below their long-term average of 0.65, suggesting their price drivers have been diverging.

HXT.TO vs. ZEO.TO - Sectors Allocation Comparison

Sectors	HXT.TO	ZEO.TO
Financial Services	37.3%	-
Energy	15.9%	100.0%
Basic Materials	12.6%	-
Technology	12.0%	-
Industrials	8.9%	-
Consumer Cyclical	3.9%	-
Consumer Defensive	3.6%	-
Utilities	2.9%	-
Communication Services	2.4%	-
Real Estate	0.5%	-
Healthcare	-	-

Return for Risk

HXT.TO vs. ZEO.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HXT.TO

HXT.TO Risk / Return Rank: 81
HXT.TO Sharpe Ratio Rank: 82
HXT.TO Sortino Ratio Rank: 79
HXT.TO Omega Ratio Rank: 80
HXT.TO Calmar Ratio Rank: 79
HXT.TO Martin Ratio Rank: 87

ZEO.TO

ZEO.TO Risk / Return Rank: 86
ZEO.TO Sharpe Ratio Rank: 89
ZEO.TO Sortino Ratio Rank: 85
ZEO.TO Omega Ratio Rank: 84
ZEO.TO Calmar Ratio Rank: 89
ZEO.TO Martin Ratio Rank: 84

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.

HXT.TO vs. ZEO.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X S&P/TSX 60 Corporate Class ETF (HXT.TO) and BMO Equal Weight Oil & Gas Index ETF (ZEO.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.

	HXT.TO	ZEO.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.70	3.02	-0.32
Sortino ratio: Return per unit of downside risk	3.63	3.86	-0.23
Omega ratio: Gain probability vs. loss probability	1.49	1.52	-0.03
Calmar ratio: Return relative to maximum drawdown	4.11	5.34	-1.24
Martin ratio: Return relative to average drawdown	19.10	17.25	+1.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HXT.TO vs. ZEO.TO - Sharpe Ratio Comparison

The current HXT.TO Sharpe Ratio is 2.70, which is comparable to the ZEO.TO Sharpe Ratio of 3.02. The chart below compares the historical Sharpe Ratios of HXT.TO and ZEO.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.

Sharpe Ratios by Period

	HXT.TO	ZEO.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.70	3.02	-0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.14	1.21	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	0.39	+0.45
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.00	+0.70

Drawdowns

HXT.TO vs. ZEO.TO - Drawdown Comparison

The maximum HXT.TO drawdown since its inception was -35.48%, smaller than the maximum ZEO.TO drawdown of -77.71%. Use the drawdown chart below to compare losses from any high point for HXT.TO and ZEO.TO.

Drawdown Indicators

	HXT.TO	ZEO.TO	Difference
Max Drawdown Largest peak-to-trough decline	-35.48%	-77.71%	+42.23%
Max Drawdown (1Y) Largest decline over 1 year	-7.71%	-9.54%	+1.83%
Max Drawdown (3Y) Largest decline over 3 years	-12.36%	-17.62%	+5.26%
Max Drawdown (5Y) Largest decline over 5 years	-16.33%	-22.59%	+6.26%
Max Drawdown (10Y) Largest decline over 10 years	-35.48%	-72.03%	+36.55%
Current Drawdown Current decline from peak	-0.87%	-2.93%	+2.06%
Average Drawdown Average peak-to-trough decline	-4.66%	-21.98%	+17.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.65%	2.95%	-1.30%

Volatility

HXT.TO vs. ZEO.TO - Volatility Comparison

The current volatility for Global X S&P/TSX 60 Corporate Class ETF (HXT.TO) is 3.25%, while BMO Equal Weight Oil & Gas Index ETF (ZEO.TO) has a volatility of 6.99%. This indicates that HXT.TO experiences smaller price fluctuations and is considered to be less risky than ZEO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HXT.TO	ZEO.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.25%	6.99%	-3.74%
Volatility (6M) Calculated over the trailing 6-month period	9.32%	14.57%	-5.25%
Volatility (1Y) Calculated over the trailing 1-year period	11.71%	16.92%	-5.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.76%	21.17%	-8.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.17%	27.27%	-12.10%

HXT.TO vs. ZEO.TO - Expense Ratio Comparison

HXT.TO has a 0.07% expense ratio, which is lower than ZEO.TO's 0.60% expense ratio.

Dividends

HXT.TO vs. ZEO.TO - Dividend Comparison

HXT.TO has not paid dividends to shareholders, while ZEO.TO's dividend yield for the trailing twelve months is around 2.59%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HXT.TO Global X S&P/TSX 60 Corporate Class 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%
ZEO.TO BMO Equal Weight Oil & Gas Index ETF	2.59%	3.42%	3.86%	4.82%	4.69%	3.27%	5.54%	3.55%	3.57%	2.46%	2.50%	4.09%

Frequently Asked Questions

Can I hold both HXT.TO and ZEO.TO in my portfolio?

HXT.TO and ZEO.TO have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HXT.TO or ZEO.TO?

On fees, HXT.TO is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HXT.TO or ZEO.TO?

HXT.TO is cheaper with a 0.07% expense ratio, compared with 0.60% for ZEO.TO.

What is the main difference between HXT.TO and ZEO.TO?

HXT.TO is categorized as Canada Equities, while ZEO.TO is Energy Equities. HXT.TO tracks S&P/TSX 60 Index, while ZEO.TO tracks Solactive Equal Weight Canada Oil & Gas Index. They also come from different issuers: Global X and BMO. Their fees differ too: 0.07% for HXT.TO and 0.60% for ZEO.TO.