ZBK.TO vs. ZEQT.TO
ZBK.TO (BMO Equal Weight US Banks Index ETF) and ZEQT.TO (BMO All-Equity ETF) are both exchange-traded funds - ZBK.TO is a Financials Equities fund managed by BMO, while ZEQT.TO is a Global Equities fund actively managed by BMO. Over the past 3 years, ZBK.TO returned 34.14%/yr vs 25.46%/yr for ZEQT.TO. A 0.50 correlation means they provide meaningful diversification when combined.
Performance
ZBK.TO vs. ZEQT.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with ZBK.TO having a 14.86% return and ZEQT.TO slightly lower at 14.64%.
ZBK.TO
- 1D
- -0.64%
- 1M
- 10.85%
- YTD
- 14.86%
- 6M
- 14.22%
- 1Y
- 33.93%
- 3Y*
- 34.14%
- 5Y*
- 11.23%
- 10Y*
- 14.14%
ZEQT.TO
- 1D
- 0.56%
- 1M
- 2.12%
- YTD
- 14.64%
- 6M
- 14.14%
- 1Y
- 30.15%
- 3Y*
- 25.46%
- 5Y*
- —
- 10Y*
- —
ZBK.TO vs. ZEQT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ZBK.TO BMO Equal Weight US Banks Index ETF | 14.86% | 16.76% | 46.09% | -6.69% | -17.92% |
ZEQT.TO BMO All-Equity ETF | 14.64% | 21.71% | 30.06% | 22.28% | -0.83% |
Correlation
The correlation between ZBK.TO and ZEQT.TO is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2022 | 0.50 |
The correlation between ZBK.TO and ZEQT.TO shifts across timeframes, from 0.40 (1 year) to 0.50 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
ZBK.TO vs. ZEQT.TO — Risk / Return Rank
ZBK.TO
ZEQT.TO
ZBK.TO vs. ZEQT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Equal Weight US Banks Index ETF (ZBK.TO) and BMO All-Equity ETF (ZEQT.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.
| ZBK.TO | ZEQT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.42 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 3.47 | -1.42 |
| Martin ratioReturn relative to average drawdown | 6.11 | 14.27 | -8.16 |
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Drawdowns
ZBK.TO vs. ZEQT.TO - Drawdown Comparison
The maximum ZBK.TO drawdown since its inception was -48.80%, which is greater than ZEQT.TO's maximum drawdown of -15.18%. Use the drawdown chart below to compare losses from any high point for ZBK.TO and ZEQT.TO.
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Drawdown Indicators
| ZBK.TO | ZEQT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.80% | -15.18% | -33.62% |
Max Drawdown (1Y)Largest decline over 1 year | -16.57% | -8.72% | -7.85% |
Max Drawdown (3Y)Largest decline over 3 years | -26.70% | -14.62% | -12.08% |
Max Drawdown (5Y)Largest decline over 5 years | -48.80% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -48.80% | — | — |
Current DrawdownCurrent decline from peak | -0.91% | -0.53% | -0.38% |
Average DrawdownAverage peak-to-trough decline | -12.32% | -2.57% | -9.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.56% | 2.12% | +3.44% |
Volatility
ZBK.TO vs. ZEQT.TO - Volatility Comparison
BMO Equal Weight US Banks Index ETF (ZBK.TO) has a higher volatility of 5.17% compared to BMO All-Equity ETF (ZEQT.TO) at 4.49%. This indicates that ZBK.TO's price experiences larger fluctuations and is considered to be riskier than ZEQT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZBK.TO | ZEQT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.17% | 4.49% | +0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 15.62% | 11.10% | +4.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.83% | 13.29% | +7.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.51% | 13.49% | +13.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.76% | 13.49% | +15.27% |
Dividends
ZBK.TO vs. ZEQT.TO - Dividend Comparison
ZBK.TO's dividend yield for the trailing twelve months is around 1.66%, more than ZEQT.TO's 1.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZBK.TO BMO Equal Weight US Banks Index ETF | 1.66% | 1.84% | 2.09% | 2.92% | 2.35% | 1.92% | 2.62% | 2.17% | 1.78% | 1.12% | 1.22% | 1.26% |
ZEQT.TO BMO All-Equity ETF | 1.27% | 2.89% | 5.08% | 6.40% | 7.31% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZBK.TO and ZEQT.TO have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZBK.TO is categorized as Financials Equities, while ZEQT.TO is Global Equities.
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