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XSEA.TO vs. ZEA.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XSEA.TO vs. ZEA.TO

Last updated Jun 4, 2026

XSEA.TO (iShares ESG Aware MSCI EAFE Index ETF) and ZEA.TO (BMO MSCI EAFE Index ETF) are both exchange-traded funds - XSEA.TO is a Foreign Large Cap Equities fund tracking the Morningstar DM xNA GR CAD, while ZEA.TO is a Global Equities fund tracking the MSCI EAFE Index. Both are passively managed. Over the past 5 years, XSEA.TO returned 10.75%/yr vs 11.02%/yr for ZEA.TO. A 0.75 correlation means they provide meaningful diversification when combined. XSEA.TO charges 0.28%/yr vs 0.22%/yr for ZEA.TO.

Performance

XSEA.TO vs. ZEA.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares ESG Aware MSCI EAFE Index ETF (XSEA.TO) and BMO MSCI EAFE Index ETF (ZEA.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with XSEA.TO having a 9.71% return and ZEA.TO slightly higher at 10.01%.

XSEA.TO

1D
-0.55%
1M
5.39%
YTD
9.71%
6M
9.76%
1Y
21.42%
3Y*
16.84%
5Y*
10.75%
10Y*
—

ZEA.TO

1D
-0.45%
1M
5.71%
YTD
10.01%
6M
10.15%
1Y
22.06%
3Y*
17.46%
5Y*
11.02%
10Y*
9.78%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XSEA.TO vs. ZEA.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
XSEA.TO
iShares ESG Aware MSCI EAFE Index ETF		9.71%23.72%11.92%15.28%-8.97%11.09%6.08%8.09%
ZEA.TO
BMO MSCI EAFE Index ETF		10.01%24.28%11.56%16.02%-8.51%10.64%5.13%7.98%

Correlation

The correlation between XSEA.TO and ZEA.TO is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.89

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

0.86

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

0.80

Correlation (All Time)
Calculated using the full available price history since Mar 27, 2019

0.75

The correlation between XSEA.TO and ZEA.TO shifts across timeframes, from 0.75 (all time) to 0.89 (1 year), reflecting how their relationship changes across market environments.

XSEA.TO vs. ZEA.TO - Sectors Allocation Comparison

Sectors
XSEA.TO
ZEA.TO

Financial Services

25.3%
24.4%

Industrials

16.6%
20.0%

Technology

12.0%
10.5%

Healthcare

9.3%
10.5%

Consumer Cyclical

7.5%
7.6%

Consumer Defensive

6.3%
6.8%

Basic Materials

4.7%
6.0%

Communication Services

3.8%
4.6%

Energy

3.1%
3.9%

Utilities

2.8%
3.9%

Real Estate

1.7%
1.9%

Financial Services

XSEA.TO
25.3%
ZEA.TO
24.4%

Industrials

XSEA.TO
16.6%
ZEA.TO
20.0%

Technology

XSEA.TO
12.0%
ZEA.TO
10.5%

Healthcare

XSEA.TO
9.3%
ZEA.TO
10.5%

Consumer Cyclical

XSEA.TO
7.5%
ZEA.TO
7.6%

Consumer Defensive

XSEA.TO
6.3%
ZEA.TO
6.8%

Basic Materials

XSEA.TO
4.7%
ZEA.TO
6.0%

Communication Services

XSEA.TO
3.8%
ZEA.TO
4.6%

Energy

XSEA.TO
3.1%
ZEA.TO
3.9%

Utilities

XSEA.TO
2.8%
ZEA.TO
3.9%

Real Estate

XSEA.TO
1.7%
ZEA.TO
1.9%

Compare stocks, funds, or ETFs

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

iShares ESG Aware MSCI EAFE Index ETF

BMO MSCI EAFE Index ETF

Often compared with XSEA.TO:
XSEA.TO vs. XDSR.TOXSEA.TO vs. XSEM.TOXSEA.TO vs. XSUS.TOXSEA.TO vs. ESGDXSEA.TO vs. XAW.TOXSEA.TO vs. XEU.TOXSEA.TO vs. XEQT.TO
Often compared with ZEA.TO:
ZEA.TO vs. XEF.TOZEA.TO vs. XEQT.TOZEA.TO vs. VXC.TOZEA.TO vs. XAW.TOZEA.TO vs. IEFAZEA.TO vs. VDU.TOZEA.TO vs. ZSP.TO

Return for Risk

XSEA.TO vs. ZEA.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XSEA.TO
XSEA.TO Risk / Return Rank: 4242
Overall Rank
XSEA.TO Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
XSEA.TO Sortino Ratio Rank: 4343
Sortino Ratio Rank
XSEA.TO Omega Ratio Rank: 4444
Omega Ratio Rank
XSEA.TO Calmar Ratio Rank: 3636
Calmar Ratio Rank
XSEA.TO Martin Ratio Rank: 4444
Martin Ratio Rank
ZEA.TO
ZEA.TO Risk / Return Rank: 4444
Overall Rank
ZEA.TO Sharpe Ratio Rank: 4545
Sharpe Ratio Rank
ZEA.TO Sortino Ratio Rank: 4545
Sortino Ratio Rank
ZEA.TO Omega Ratio Rank: 4646
Omega Ratio Rank
ZEA.TO Calmar Ratio Rank: 4040
Calmar Ratio Rank
ZEA.TO Martin Ratio Rank: 4747
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.

XSEA.TO vs. ZEA.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Aware MSCI EAFE Index ETF (XSEA.TO) and BMO MSCI EAFE Index ETF (ZEA.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.

XSEA.TOZEA.TODifference
Sharpe ratioReturn per unit of total volatility
1.50
1.59

-0.09

Sortino ratioReturn per unit of downside risk
2.16
2.28

-0.12

Omega ratioGain probability vs. loss probability

1.28

1.30

-0.01

Calmar ratioReturn relative to maximum drawdown

1.79

2.03

-0.24

Martin ratioReturn relative to average drawdown

7.13

7.92

-0.78

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XSEA.TO vs. ZEA.TO - Sharpe Ratio Comparison

The current XSEA.TO Sharpe Ratio is 1.50, which is comparable to the ZEA.TO Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of XSEA.TO and ZEA.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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Sharpe Ratios by Period

XSEA.TOZEA.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.50

1.59

-0.09

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.69

0.82

-0.13

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.66

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.62

0.59

+0.02

Drawdowns

XSEA.TO vs. ZEA.TO - Drawdown Comparison

The maximum XSEA.TO drawdown since its inception was -28.64%, roughly equal to the maximum ZEA.TO drawdown of -27.80%. Use the drawdown chart below to compare losses from any high point for XSEA.TO and ZEA.TO.

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Drawdown Indicators

XSEA.TOZEA.TODifference

Max Drawdown

Largest peak-to-trough decline

-28.64%

-27.80%

-0.84%

Max Drawdown (1Y)

Largest decline over 1 year

-11.99%

-10.91%

-1.08%

Max Drawdown (3Y)

Largest decline over 3 years

-14.50%

-14.11%

-0.39%

Max Drawdown (5Y)

Largest decline over 5 years

-27.70%

-23.67%

-4.03%

Max Drawdown (10Y)

Largest decline over 10 years

—

-27.80%

—

Current Drawdown

Current decline from peak

-1.33%

-2.13%

+0.80%

Average Drawdown

Average peak-to-trough decline

-5.96%

-4.63%

-1.33%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.01%

2.79%

+0.22%

Volatility

XSEA.TO vs. ZEA.TO - Volatility Comparison

The current volatility for iShares ESG Aware MSCI EAFE Index ETF (XSEA.TO) is 5.05%, while BMO MSCI EAFE Index ETF (ZEA.TO) has a volatility of 5.70%. This indicates that XSEA.TO experiences smaller price fluctuations and is considered to be less risky than ZEA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XSEA.TOZEA.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.05%

5.70%

-0.65%

Volatility (6M)

Calculated over the trailing 6-month period

12.18%

11.68%

+0.50%

Volatility (1Y)

Calculated over the trailing 1-year period

14.37%

13.94%

+0.43%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.64%

13.51%

+2.13%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.87%

14.92%

+1.95%

XSEA.TO vs. ZEA.TO - Expense Ratio Comparison

XSEA.TO has a 0.28% expense ratio, which is higher than ZEA.TO's 0.22% expense ratio.

Dividends

XSEA.TO vs. ZEA.TO - Dividend Comparison

XSEA.TO's dividend yield for the trailing twelve months is around 2.21%, more than ZEA.TO's 1.94% yield.

PositionTTM20252024202320222021202020192018201720162015
XSEA.TO
iShares ESG Aware MSCI EAFE Index ETF		2.21%2.43%2.90%2.64%2.35%2.12%1.40%2.38%0.00%0.00%0.00%0.00%
ZEA.TO
BMO MSCI EAFE Index ETF		1.94%2.17%2.77%3.00%3.06%2.48%2.72%2.93%3.03%2.39%2.78%2.42%

Frequently Asked Questions

XSEA.TO and ZEA.TO have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZEA.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZEA.TO is cheaper with a 0.22% expense ratio, compared with 0.28% for XSEA.TO.

XSEA.TO is categorized as Foreign Large Cap Equities, while ZEA.TO is Global Equities. XSEA.TO tracks Morningstar DM xNA GR CAD, while ZEA.TO tracks MSCI EAFE Index. They also come from different issuers: iShares and BMO. Their fees differ too: 0.28% for XSEA.TO and 0.22% for ZEA.TO.

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