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WN.TO vs. ZEB.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

WN.TO vs. ZEB.TO

Last updated Jul 21, 2026
Documentation

WN.TO (George Weston Limited) is a stock, while ZEB.TO (BMO Equal Weight Banks Index ETF) is Financials Equities fund tracking the Solactive Equal Weight Canada Banks Index. Over the past 10 years, WN.TO returned 16.18%/yr vs 16.94%/yr for ZEB.TO. At a 0.28 correlation, their price movements are largely independent.

Performance

WN.TO vs. ZEB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in George Weston Limited (WN.TO) and BMO Equal Weight Banks Index ETF (ZEB.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, WN.TO achieves a 11.33% return, which is significantly lower than ZEB.TO's 32.74% return. Both investments have delivered pretty close results over the past 10 years, with WN.TO having a 16.18% annualized return and ZEB.TO not far ahead at 16.94%.

WN.TO

1D
0.87%
1M
3.38%
6M
9.44%
YTD
11.33%
1Y
20.45%
3Y*
30.89%
5Y*
25.71%
10Y*
16.18%
ALL TIME*
15.70%

ZEB.TO

1D
-2.27%
1M
2.45%
6M
30.75%
YTD
32.74%
1Y
67.56%
3Y*
35.33%
5Y*
21.17%
10Y*
16.94%
ALL TIME*
14.35%
*Multi-year figures are annualized to reflect compound growth (CAGR)

WN.TO vs. ZEB.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
WN.TO
George Weston Limited		11.33%30.61%42.28%3.27%20.32%63.23%-1.41%21.63%-12.47%0.91%
ZEB.TO
BMO Equal Weight Banks Index ETF		32.74%43.43%24.58%10.87%-10.38%39.38%3.52%16.06%-8.85%14.26%

Correlation

The correlation between WN.TO and ZEB.TO is -0.10, 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

-0.10

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

0.16

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

0.19

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

0.23

Correlation (All Time)
Calculated using the full available price history since Oct 26, 2009

0.28

The correlation between WN.TO and ZEB.TO shifts across timeframes, from -0.10 (1 year) to 0.28 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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

George Weston Limited

BMO Equal Weight Banks Index ETF

Often compared with WN.TO:
WN.TO vs. L.TOWN.TO vs. MRU.TOWN.TO vs. CTC.TOWN.TO vs. ATD.TOWN.TO vs. POW.TOWN.TO vs. MFC.TOWN.TO vs. DOL.TO
Often compared with ZEB.TO:
ZEB.TO vs. ZWB.TOZEB.TO vs. VDY.TOZEB.TO vs. HBNK.TOZEB.TO vs. HCAL.TOZEB.TO vs. HMAX.TOZEB.TO vs. ZSP.TOZEB.TO vs. XIC.TO

Return for Risk

WN.TO vs. ZEB.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
WN.TO
WN.TO Risk / Return Rank: 7575
Overall Rank
WN.TO Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
WN.TO Sortino Ratio Rank: 7171
Sortino Ratio Rank
WN.TO Omega Ratio Rank: 6969
Omega Ratio Rank
WN.TO Calmar Ratio Rank: 8282
Calmar Ratio Rank
WN.TO Martin Ratio Rank: 7878
Martin Ratio Rank
ZEB.TO
ZEB.TO Risk / Return Rank: 9898
Overall Rank
ZEB.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
ZEB.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
ZEB.TO Omega Ratio Rank: 9797
Omega Ratio Rank
ZEB.TO Calmar Ratio Rank: 9797
Calmar Ratio Rank
ZEB.TO Martin Ratio Rank: 9797
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.

WN.TO vs. ZEB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for George Weston Limited (WN.TO) and BMO Equal Weight Banks Index ETF (ZEB.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

WN.TOZEB.TODifference
Sharpe ratioReturn per unit of total volatility
1.01
5.00

-3.99

Sortino ratioReturn per unit of downside risk
1.50
6.49

-4.99

Omega ratioGain probability vs. loss probability

1.18

1.88

-0.70

Calmar ratioReturn relative to maximum drawdown

2.25

8.05

-5.80

Martin ratioReturn relative to average drawdown

4.65

34.30

-29.66

WN.TO vs. ZEB.TO - Sharpe Ratio Comparison

The current WN.TO Sharpe Ratio is 1.01, which is lower than the ZEB.TO Sharpe Ratio of 5.00. The chart below compares the historical Sharpe Ratios of WN.TO and ZEB.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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Drawdowns

WN.TO vs. ZEB.TO - Drawdown Comparison

The maximum WN.TO drawdown since its inception was -43.54%, which is greater than ZEB.TO's maximum drawdown of -39.69%. Use the drawdown chart below to compare losses from any high point for WN.TO and ZEB.TO.

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Drawdown Indicators

WN.TOZEB.TODifference

Max Drawdown

Largest peak-to-trough decline

-43.54%

-39.69%

-3.85%

Max Drawdown (1Y)

Largest decline over 1 year

-9.15%

-8.44%

-0.71%

Max Drawdown (3Y)

Largest decline over 3 years

-9.73%

-14.80%

+5.07%

Max Drawdown (5Y)

Largest decline over 5 years

-18.06%

-25.97%

+7.91%

Max Drawdown (10Y)

Largest decline over 10 years

-22.93%

-39.69%

+16.76%

Current Drawdown

Current decline from peak

-0.02%

-3.06%

+3.04%

Average Drawdown

Average peak-to-trough decline

-7.61%

-5.61%

-2.00%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.41%

1.98%

+2.43%

Volatility

WN.TO vs. ZEB.TO - Volatility Comparison

George Weston Limited (WN.TO) has a higher volatility of 6.37% compared to BMO Equal Weight Banks Index ETF (ZEB.TO) at 4.92%. This indicates that WN.TO's price experiences larger fluctuations and is considered to be riskier than ZEB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

WN.TOZEB.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.37%

4.92%

+1.45%

Volatility (6M)

Calculated over the trailing 6-month period

16.02%

11.85%

+4.17%

Volatility (1Y)

Calculated over the trailing 1-year period

20.35%

13.61%

+6.74%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.07%

13.63%

+5.44%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.13%

16.93%

+2.20%

Dividends

WN.TO vs. ZEB.TO - Dividend Comparison

WN.TO's dividend yield for the trailing twelve months is around 1.16%, less than ZEB.TO's 2.29% yield.

PositionTTM20252024202320222021202020192018201720162015
WN.TO
George Weston Limited		1.16%2.44%4.26%5.10%4.61%4.70%6.71%6.09%6.50%4.96%4.61%4.75%
ZEB.TO
BMO Equal Weight Banks Index ETF		2.29%2.95%3.98%4.75%4.29%3.13%4.15%3.65%3.64%3.02%3.19%3.70%

Frequently Asked Questions

WN.TO and ZEB.TO have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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