SPOG.L vs. ZSP.TO

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Oil & Gas Exploration & Production UCITS ETF (SPOG.L) and BMO S&P 500 Index ETF (ZSP.TO).

SPOG.L and ZSP.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPOG.L is a passively managed fund by iShares that tracks the performance of the MSCI World/Energy NR USD. It was launched on Sep 16, 2011. ZSP.TO is a passively managed fund by BMO that tracks the performance of the S&P 500 Index. It was launched on Nov 14, 2012. Both SPOG.L and ZSP.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SPOG.L vs. ZSP.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Oil & Gas Exploration & Production UCITS ETF (SPOG.L) and BMO S&P 500 Index ETF (ZSP.TO). The values are adjusted to include any dividend payments, if applicable.

SPOG.L vs. ZSP.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPOG.L iShares Oil & Gas Exploration & Production UCITS ETF	42.11%	-0.88%	0.57%	-2.90%	54.40%	69.37%	-33.93%	4.75%	-17.09%	-12.48%
ZSP.TO BMO S&P 500 Index ETF	-2.60%	9.02%	26.57%	19.80%	-8.83%	29.69%	14.46%	25.93%	0.87%	10.88%

Different Trading Currencies

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

Returns By Period

In the year-to-date period, SPOG.L achieves a 42.11% return, which is significantly higher than ZSP.TO's -2.60% return. Over the past 10 years, SPOG.L has underperformed ZSP.TO with an annualized return of 10.77%, while ZSP.TO has yielded a comparatively higher 14.47% annualized return.

SPOG.L

• 1D: -0.77%
• 1M: 19.61%
• YTD: 42.11%
• 6M: 47.07%
• 1Y: 36.16%
• 3Y*: 15.12%
• 5Y*: 22.54%
• 10Y*: 10.77%

ZSP.TO

• 1D: 2.54%
• 1M: -3.60%
• YTD: -2.60%
• 6M: -0.72%
• 1Y: 14.07%
• 3Y*: 15.17%
• 5Y*: 12.39%
• 10Y*: 14.47%

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

SPOG.L vs. ZSP.TO - Expense Ratio Comparison

SPOG.L has a 0.55% expense ratio, which is higher than ZSP.TO's 0.09% expense ratio.

SPOG.L

iShares Oil & Gas Exploration & Production UCITS ETF

ZSP.TO

BMO S&P 500 Index ETF

Return for Risk

SPOG.L vs. ZSP.TO — Risk / Return Rank

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

SPOG.L

SPOG.L Risk / Return Rank: 66
SPOG.L Sharpe Ratio Rank: 75
SPOG.L Sortino Ratio Rank: 70
SPOG.L Omega Ratio Rank: 68
SPOG.L Calmar Ratio Rank: 69
SPOG.L Martin Ratio Rank: 46

ZSP.TO

ZSP.TO Risk / Return Rank: 47
ZSP.TO Sharpe Ratio Rank: 43
ZSP.TO Sortino Ratio Rank: 42
ZSP.TO Omega Ratio Rank: 48
ZSP.TO Calmar Ratio Rank: 51
ZSP.TO Martin Ratio Rank: 49

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.

SPOG.L vs. ZSP.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Oil & Gas Exploration & Production UCITS ETF (SPOG.L) 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.

	SPOG.L	ZSP.TO	Difference
Sharpe ratio Return per unit of total volatility	1.35	0.77	+0.58
Sortino ratio Return per unit of downside risk	1.77	1.19	+0.58
Omega ratio Gain probability vs. loss probability	1.25	1.18	+0.07
Calmar ratio Return relative to maximum drawdown	1.77	1.28	+0.49
Martin ratio Return relative to average drawdown	4.31	5.02	-0.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPOG.L vs. ZSP.TO - Sharpe Ratio Comparison

The current SPOG.L Sharpe Ratio is 1.35, which is higher than the ZSP.TO Sharpe Ratio of 0.77. The chart below compares the historical Sharpe Ratios of SPOG.L and ZSP.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.

Sharpe Ratios by Period

	SPOG.L	ZSP.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.35	0.77	+0.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.78	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	0.80	-0.46
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.89	-0.72

Correlation

The correlation between SPOG.L and ZSP.TO is 0.27, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

SPOG.L vs. ZSP.TO - Dividend Comparison

SPOG.L has not paid dividends to shareholders, while ZSP.TO's dividend yield for the trailing twelve months is around 0.87%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPOG.L iShares Oil & Gas Exploration & Production UCITS 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%
ZSP.TO BMO S&P 500 Index ETF	0.87%	0.82%	0.94%	1.33%	1.44%	1.15%	1.44%	1.47%	1.63%	1.63%	2.20%	1.53%

Drawdowns

SPOG.L vs. ZSP.TO - Drawdown Comparison

The maximum SPOG.L drawdown since its inception was -76.49%, which is greater than ZSP.TO's maximum drawdown of -25.79%. Use the drawdown chart below to compare losses from any high point for SPOG.L and ZSP.TO.

Drawdown Indicators

	SPOG.L	ZSP.TO	Difference
Max Drawdown Largest peak-to-trough decline	-76.49%	-26.94%	-49.55%
Max Drawdown (1Y) Largest decline over 1 year	-20.37%	-12.43%	-7.94%
Max Drawdown (5Y) Largest decline over 5 years	-32.90%	-22.25%	-10.65%
Max Drawdown (10Y) Largest decline over 10 years	-71.97%	-26.94%	-45.03%
Current Drawdown Current decline from peak	-0.77%	-6.12%	+5.35%
Average Drawdown Average peak-to-trough decline	-26.69%	-3.37%	-23.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.36%	3.33%	+5.03%

Volatility

SPOG.L vs. ZSP.TO - Volatility Comparison

iShares Oil & Gas Exploration & Production UCITS ETF (SPOG.L) has a higher volatility of 9.31% compared to BMO S&P 500 Index ETF (ZSP.TO) at 4.55%. This indicates that SPOG.L's price experiences larger fluctuations and is considered to be riskier than ZSP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPOG.L	ZSP.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.31%	4.55%	+4.76%
Volatility (6M) Calculated over the trailing 6-month period	17.42%	9.35%	+8.07%
Volatility (1Y) Calculated over the trailing 1-year period	26.75%	18.93%	+7.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.96%	15.89%	+13.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.73%	18.23%	+13.50%