VUN.TO vs. ZEQL.TO
VUN.TO (Vanguard U.S. Total Market Index ETF) and ZEQL.TO (BMO MSCI USA Equal Weight Index ETF (CAD Units)) are both Large Cap Blend Equities funds - VUN.TO tracks the CRSP US Total Market Index CAD while ZEQL.TO tracks the MSCI USA Equal Weighted Index. Both are passively managed. A 0.74 correlation means they provide meaningful diversification when combined. VUN.TO charges 0.17%/yr vs 0.05%/yr for ZEQL.TO.
Performance
VUN.TO vs. ZEQL.TO - Performance Comparison
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Returns By Period
VUN.TO
- 1D
- -0.39%
- 1M
- 7.17%
- YTD
- 12.43%
- 6M
- 10.44%
- 1Y
- 29.34%
- 3Y*
- 23.05%
- 5Y*
- 15.50%
- 10Y*
- 15.43%
ZEQL.TO
- 1D
- -0.12%
- 1M
- 6.20%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VUN.TO vs. ZEQL.TO - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
VUN.TO Vanguard U.S. Total Market Index ETF | 11.35% |
ZEQL.TO BMO MSCI USA Equal Weight Index ETF (CAD Units) | 7.44% |
Correlation
The correlation between VUN.TO and ZEQL.TO is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Feb 10, 2026 | 0.74 |
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Return for Risk
VUN.TO vs. ZEQL.TO — Risk / Return Rank
VUN.TO
ZEQL.TO
VUN.TO vs. ZEQL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard U.S. Total Market Index ETF (VUN.TO) and BMO MSCI USA Equal Weight Index ETF (CAD Units) (ZEQL.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.
| VUN.TO | ZEQL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.45 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.46 | — | — |
| Martin ratioReturn relative to average drawdown | 12.96 | — | — |
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
| VUN.TO | ZEQL.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.47 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.01 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.93 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.01 | 2.01 | -1.00 |
Drawdowns
VUN.TO vs. ZEQL.TO - Drawdown Comparison
The maximum VUN.TO drawdown since its inception was -28.19%, which is greater than ZEQL.TO's maximum drawdown of -6.12%. Use the drawdown chart below to compare losses from any high point for VUN.TO and ZEQL.TO.
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Drawdown Indicators
| VUN.TO | ZEQL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.19% | -6.12% | -22.07% |
Max Drawdown (1Y)Largest decline over 1 year | -8.51% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -19.88% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -23.67% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -28.19% | — | — |
Current DrawdownCurrent decline from peak | -0.39% | -0.58% | +0.19% |
Average DrawdownAverage peak-to-trough decline | -3.80% | -1.69% | -2.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.27% | — | — |
Volatility
VUN.TO vs. ZEQL.TO - Volatility Comparison
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Volatility by Period
| VUN.TO | ZEQL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.04% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 8.81% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 11.97% | 12.92% | -0.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.43% | 12.92% | +2.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.70% | 12.92% | +3.78% |
VUN.TO vs. ZEQL.TO - Expense Ratio Comparison
VUN.TO has a 0.17% expense ratio, which is higher than ZEQL.TO's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VUN.TO vs. ZEQL.TO - Dividend Comparison
VUN.TO's dividend yield for the trailing twelve months is around 0.74%, more than ZEQL.TO's 0.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VUN.TO Vanguard U.S. Total Market Index ETF | 0.74% | 0.84% | 0.93% | 1.10% | 1.21% | 0.97% | 1.15% | 1.45% | 1.52% | 1.39% | 1.49% | 1.49% |
ZEQL.TO BMO MSCI USA Equal Weight Index ETF (CAD Units) | 0.37% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VUN.TO and ZEQL.TO have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZEQL.TO is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZEQL.TO is cheaper with a 0.05% expense ratio, compared with 0.17% for VUN.TO.
VUN.TO tracks CRSP US Total Market Index CAD, while ZEQL.TO tracks MSCI USA Equal Weighted Index. They also come from different issuers: Vanguard and BMO. Their fees differ too: 0.17% for VUN.TO and 0.05% for ZEQL.TO.
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