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

ZEB.TO vs. KXI

Last updated Jun 9, 2026

ZEB.TO (BMO Equal Weight Banks Index ETF) and KXI (iShares Global Consumer Staples ETF) are both exchange-traded funds - ZEB.TO is a Financials Equities fund tracking the Solactive Equal Weight Canada Banks Index, while KXI is a Consumer Staples Equities fund tracking the S&P Global Consumer Staples Index. Both are passively managed. Over the past 10 years, ZEB.TO returned 16.09%/yr vs 6.64%/yr for KXI. At a 0.34 correlation, their price movements are largely independent. ZEB.TO charges 0.25%/yr vs 0.46%/yr for KXI.

Performance

ZEB.TO vs. KXI - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Equal Weight Banks Index ETF (ZEB.TO) and iShares Global Consumer Staples ETF (KXI). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

ZEB.TO is traded in CAD, while KXI is traded in USD. To make them comparable, the KXI values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ZEB.TO achieves a 21.69% return, which is significantly higher than KXI's 5.89% return. Over the past 10 years, ZEB.TO has outperformed KXI with an annualized return of 16.09%, while KXI has yielded a comparatively lower 6.64% annualized return.

ZEB.TO

1D
0.59%
1M
5.70%
YTD
21.69%
6M
24.57%
1Y
62.87%
3Y*
33.95%
5Y*
18.84%
10Y*
16.09%

KXI

1D
0.01%
1M
-0.01%
YTD
5.89%
6M
5.86%
1Y
5.44%
3Y*
7.77%
5Y*
7.01%
10Y*
6.64%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZEB.TO vs. KXI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ZEB.TO
BMO Equal Weight Banks Index ETF		21.69%43.43%24.58%10.87%-10.38%39.38%3.52%16.06%-8.85%14.26%
KXI
iShares Global Consumer Staples ETF		5.89%4.67%13.02%-0.02%-0.07%13.65%5.14%18.31%-3.20%9.64%

Correlation

The correlation between ZEB.TO and KXI is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.12

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

0.26

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

0.32

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

0.31

Correlation (All Time)
Calculated using the full available price history since Oct 27, 2009

0.34

Over the past year, the correlation between ZEB.TO and KXI has dropped to 0.12 - well below their long-term average of 0.34, suggesting their price drivers have been diverging.

ZEB.TO vs. KXI - Sectors Allocation Comparison

Sectors
ZEB.TO
KXI

Financial Services

100.0%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

3.1%

Consumer Defensive

-

96.9%

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

ZEB.TO
100.0%
KXI

-

Basic Materials

ZEB.TO

-

KXI

-

Communication Services

ZEB.TO

-

KXI

-

Consumer Cyclical

ZEB.TO

-

KXI
3.1%

Consumer Defensive

ZEB.TO

-

KXI
96.9%

Energy

ZEB.TO

-

KXI

-

Healthcare

ZEB.TO

-

KXI

-

Industrials

ZEB.TO

-

KXI

-

Real Estate

ZEB.TO

-

KXI

-

Technology

ZEB.TO

-

KXI

-

Utilities

ZEB.TO

-

KXI

-

Compare stocks, funds, or ETFs

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BMO Equal Weight Banks Index ETF

iShares Global Consumer Staples ETF

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
Often compared with KXI:
KXI vs. VDCKXI vs. XLPKXI vs. IYKKXI vs. RXIKXI vs. FXGKXI vs. VCSAXKXI vs. EXI

Return for Risk

ZEB.TO vs. KXI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZEB.TO
ZEB.TO Risk / Return Rank: 9797
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: 9595
Calmar Ratio Rank
ZEB.TO Martin Ratio Rank: 9696
Martin Ratio Rank
KXI
KXI Risk / Return Rank: 1313
Overall Rank
KXI Sharpe Ratio Rank: 1414
Sharpe Ratio Rank
KXI Sortino Ratio Rank: 1313
Sortino Ratio Rank
KXI Omega Ratio Rank: 1313
Omega Ratio Rank
KXI Calmar Ratio Rank: 1313
Calmar Ratio Rank
KXI Martin Ratio Rank: 1313
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.

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

This table presents a comparison of risk-adjusted performance metrics for BMO Equal Weight Banks Index ETF (ZEB.TO) and iShares Global Consumer Staples ETF (KXI). 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.

ZEB.TOKXIDifference
Sharpe ratioReturn per unit of total volatility
4.97
0.42

+4.55

Sortino ratioReturn per unit of downside risk
6.76
0.68

+6.08

Omega ratioGain probability vs. loss probability

1.93

1.08

+0.85

Calmar ratioReturn relative to maximum drawdown

7.49

0.55

+6.93

Martin ratioReturn relative to average drawdown

32.20

1.24

+30.96

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

ZEB.TO vs. KXI - Sharpe Ratio Comparison

The current ZEB.TO Sharpe Ratio is 4.97, which is higher than the KXI Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of ZEB.TO and KXI, 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

ZEB.TOKXIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

4.97

0.42

+4.55

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.40

0.50

+0.90

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.96

0.44

+0.52

Sharpe Ratio (All Time)

Calculated using the full available price history

0.89

0.55

+0.34

Drawdowns

ZEB.TO vs. KXI - Drawdown Comparison

The maximum ZEB.TO drawdown since its inception was -39.69%, which is greater than KXI's maximum drawdown of -25.89%. Use the drawdown chart below to compare losses from any high point for ZEB.TO and KXI.

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Drawdown Indicators

ZEB.TOKXIDifference

Max Drawdown

Largest peak-to-trough decline

-39.69%

-25.89%

-13.80%

Max Drawdown (1Y)

Largest decline over 1 year

-8.44%

-9.84%

+1.40%

Max Drawdown (3Y)

Largest decline over 3 years

-14.80%

-9.84%

-4.96%

Max Drawdown (5Y)

Largest decline over 5 years

-25.97%

-13.54%

-12.43%

Max Drawdown (10Y)

Largest decline over 10 years

-39.69%

-18.71%

-20.98%

Current Drawdown

Current decline from peak

0.00%

-6.81%

+6.81%

Average Drawdown

Average peak-to-trough decline

-5.65%

-4.72%

-0.93%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.96%

4.40%

-2.44%

Volatility

ZEB.TO vs. KXI - Volatility Comparison

BMO Equal Weight Banks Index ETF (ZEB.TO) has a higher volatility of 4.62% compared to iShares Global Consumer Staples ETF (KXI) at 4.07%. This indicates that ZEB.TO's price experiences larger fluctuations and is considered to be riskier than KXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZEB.TOKXIDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.62%

4.07%

+0.55%

Volatility (6M)

Calculated over the trailing 6-month period

11.04%

10.28%

+0.76%

Volatility (1Y)

Calculated over the trailing 1-year period

12.74%

12.96%

-0.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.53%

14.05%

-0.52%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.91%

15.23%

+1.68%

ZEB.TO vs. KXI - Expense Ratio Comparison

ZEB.TO has a 0.25% expense ratio, which is lower than KXI's 0.46% expense ratio.

Dividends

ZEB.TO vs. KXI - Dividend Comparison

ZEB.TO's dividend yield for the trailing twelve months is around 2.48%, more than KXI's 2.21% yield.

PositionTTM20252024202320222021202020192018201720162015
KXI
iShares Global Consumer Staples ETF		2.21%2.29%2.51%2.99%1.98%2.26%2.34%2.17%2.97%2.17%2.34%2.20%
ZEB.TO
BMO Equal Weight Banks Index ETF		2.48%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

ZEB.TO and KXI have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZEB.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZEB.TO is cheaper with a 0.25% expense ratio, compared with 0.46% for KXI.

ZEB.TO is categorized as Financials Equities, while KXI is Consumer Staples Equities. ZEB.TO tracks Solactive Equal Weight Canada Banks Index, while KXI tracks S&P Global Consumer Staples Index. They also come from different issuers: BMO and iShares. Their fees differ too: 0.25% for ZEB.TO and 0.46% for KXI.

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