PPLN.TO vs. ZEO.TO
PPLN.TO (Global X Equal Weight Canadian Pipelines Index ETF) and ZEO.TO (BMO Equal Weight Oil & Gas Index ETF) are both Energy Equities funds - PPLN.TO tracks the Mirae Asset Equal Weight Canadian Pipeline Index while ZEO.TO tracks the Solactive Equal Weight Canada Oil & Gas Index. Both are passively managed. Over the past 10 years, PPLN.TO returned 10.87%/yr vs 10.67%/yr for ZEO.TO. A 0.59 correlation means they provide meaningful diversification when combined. PPLN.TO charges 0.31%/yr vs 0.60%/yr for ZEO.TO.
Performance
PPLN.TO vs. ZEO.TO - Performance Comparison
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Returns By Period
In the year-to-date period, PPLN.TO achieves a 29.04% return, which is significantly lower than ZEO.TO's 37.72% return. Both investments have delivered pretty close results over the past 10 years, with PPLN.TO having a 10.87% annualized return and ZEO.TO not far behind at 10.67%.
PPLN.TO
- 1D
- -0.24%
- 1M
- 6.16%
- YTD
- 29.04%
- 6M
- 28.59%
- 1Y
- 39.15%
- 3Y*
- 18.78%
- 5Y*
- 14.07%
- 10Y*
- 10.87%
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%
PPLN.TO vs. ZEO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PPLN.TO Global X Equal Weight Canadian Pipelines Index ETF | 29.04% | 4.14% | 17.18% | 8.45% | 16.63% | 33.83% | -17.80% | 20.50% | -11.54% | -2.67% |
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 PPLN.TO and ZEO.TO is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2014 | 0.59 |
The correlation between PPLN.TO and ZEO.TO shifts across timeframes, from 0.53 (3 years) to 0.66 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
PPLN.TO vs. ZEO.TO — Risk / Return Rank
PPLN.TO
ZEO.TO
PPLN.TO vs. ZEO.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Equal Weight Canadian Pipelines Index ETF (PPLN.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.
| PPLN.TO | ZEO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.52 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.85 | 5.34 | -1.50 |
| Martin ratioReturn relative to average drawdown | 10.25 | 17.25 | -6.99 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PPLN.TO | ZEO.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.73 | 3.02 | -0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.81 | 1.21 | -0.39 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | 0.39 | +0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.00 | +0.33 |
Drawdowns
PPLN.TO vs. ZEO.TO - Drawdown Comparison
The maximum PPLN.TO drawdown since its inception was -59.05%, smaller than the maximum ZEO.TO drawdown of -77.71%. Use the drawdown chart below to compare losses from any high point for PPLN.TO and ZEO.TO.
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Drawdown Indicators
| PPLN.TO | ZEO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.05% | -77.71% | +18.66% |
Max Drawdown (1Y)Largest decline over 1 year | -10.22% | -9.54% | -0.68% |
Max Drawdown (3Y)Largest decline over 3 years | -15.31% | -17.62% | +2.31% |
Max Drawdown (5Y)Largest decline over 5 years | -18.54% | -22.59% | +4.05% |
Max Drawdown (10Y)Largest decline over 10 years | -59.05% | -72.03% | +12.98% |
Current DrawdownCurrent decline from peak | -2.93% | -2.93% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -9.47% | -21.98% | +12.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.84% | 2.95% | +0.89% |
Volatility
PPLN.TO vs. ZEO.TO - Volatility Comparison
The current volatility for Global X Equal Weight Canadian Pipelines Index ETF (PPLN.TO) is 5.77%, while BMO Equal Weight Oil & Gas Index ETF (ZEO.TO) has a volatility of 6.99%. This indicates that PPLN.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.
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Volatility by Period
| PPLN.TO | ZEO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.77% | 6.99% | -1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 11.56% | 14.57% | -3.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.40% | 16.92% | -2.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.40% | 21.17% | -3.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.20% | 27.27% | -4.07% |
PPLN.TO vs. ZEO.TO - Expense Ratio Comparison
PPLN.TO has a 0.31% expense ratio, which is lower than ZEO.TO's 0.60% expense ratio.
Dividends
PPLN.TO vs. ZEO.TO - Dividend Comparison
PPLN.TO's dividend yield for the trailing twelve months is around 4.26%, more than ZEO.TO's 2.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PPLN.TO Global X Equal Weight Canadian Pipelines Index ETF | 4.26% | 4.35% | 2.94% | 3.77% | 3.23% | 3.47% | 5.76% | 4.40% | 5.21% | 4.31% | 3.99% | 4.41% |
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
PPLN.TO and ZEO.TO have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PPLN.TO is cheaper at 0.31% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PPLN.TO is cheaper with a 0.31% expense ratio, compared with 0.60% for ZEO.TO.
PPLN.TO tracks Mirae Asset Equal Weight Canadian Pipeline 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: 0.31% for PPLN.TO and 0.60% for ZEO.TO.
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