PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
ZEO.TO vs. ENCC.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ZEO.TO vs. ENCC.TO

Last updated Apr 1, 2026

Compare and contrast key facts about BMO Equal Weight Oil & Gas Index ETF (ZEO.TO) and Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO).

ZEO.TO and ENCC.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZEO.TO is a passively managed fund by BMO that tracks the performance of the Solactive Equal Weight Canada Oil & Gas Index. It was launched on Oct 20, 2009. ENCC.TO is an actively managed fund by Global X. It was launched on Apr 11, 2011.

Performance

ZEO.TO vs. ENCC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Equal Weight Oil & Gas Index ETF (ZEO.TO) and Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO). The values are adjusted to include any dividend payments, if applicable.

Loading graphics...

ZEO.TO vs. ENCC.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ZEO.TO
BMO Equal Weight Oil & Gas Index ETF		31.54%12.35%21.51%5.98%39.67%63.65%-28.56%16.50%-25.62%-12.74%
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ETF		21.92%13.13%17.39%5.72%41.33%80.55%-27.98%6.54%-31.00%-18.47%

Returns By Period

In the year-to-date period, ZEO.TO achieves a 31.54% return, which is significantly higher than ENCC.TO's 21.92% return. Over the past 10 years, ZEO.TO has outperformed ENCC.TO with an annualized return of 11.55%, while ENCC.TO has yielded a comparatively lower 9.18% annualized return.

ZEO.TO

1D
-0.72%
1M
11.04%
YTD
31.54%
6M
30.73%
1Y
39.53%
3Y*
25.68%
5Y*
27.86%
10Y*
11.55%

ENCC.TO

1D
-1.79%
1M
7.40%
YTD
21.92%
6M
23.18%
1Y
30.35%
3Y*
21.01%
5Y*
27.08%
10Y*
9.18%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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

BMO Equal Weight Oil & Gas Index ETF

Global X Canadian Oil and Gas Equity Covered Call ETF

Often compared with ZEO.TO:
ZEO.TO vs. XEG.TOZEO.TO vs. NRGY.TOZEO.TO vs. XLEZEO.TO vs. VOOZEO.TO vs. HXT.TOZEO.TO vs. VFV.TOZEO.TO vs. SPY
Often compared with ENCC.TO:
ENCC.TO vs. ENCL.TOENCC.TO vs. EMAX.TOENCC.TO vs. ZEOENCC.TO vs. HMAX.TOENCC.TO vs. XDIV.TOENCC.TO vs. XEQT.TOENCC.TO vs. ENS.TO

ZEO.TO vs. ENCC.TO - Expense Ratio Comparison

ZEO.TO has a 0.60% expense ratio, which is lower than ENCC.TO's 0.76% expense ratio.

ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ETF
ZEO.TO
BMO Equal Weight Oil & Gas Index ETF

Return for Risk

ZEO.TO vs. ENCC.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZEO.TO
ZEO.TO Risk / Return Rank: 8787
Overall Rank
ZEO.TO Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
ZEO.TO Sortino Ratio Rank: 8989
Sortino Ratio Rank
ZEO.TO Omega Ratio Rank: 9292
Omega Ratio Rank
ZEO.TO Calmar Ratio Rank: 8383
Calmar Ratio Rank
ZEO.TO Martin Ratio Rank: 8080
Martin Ratio Rank
ENCC.TO
ENCC.TO Risk / Return Rank: 8282
Overall Rank
ENCC.TO Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
ENCC.TO Sortino Ratio Rank: 8484
Sortino Ratio Rank
ENCC.TO Omega Ratio Rank: 9090
Omega Ratio Rank
ENCC.TO Calmar Ratio Rank: 7575
Calmar Ratio Rank
ENCC.TO Martin Ratio Rank: 7575
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.

ZEO.TO vs. ENCC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Equal Weight Oil & Gas Index ETF (ZEO.TO) and Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.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.

ZEO.TOENCC.TODifference

Sharpe ratio

Return per unit of total volatility

2.04

1.76

+0.28

Sortino ratio

Return per unit of downside risk

2.49

2.16

+0.32

Omega ratio

Gain probability vs. loss probability

1.40

1.37

+0.03

Calmar ratio

Return relative to maximum drawdown

2.33

1.89

+0.44

Martin ratio

Return relative to average drawdown

8.63

7.61

+1.02

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

ZEO.TO vs. ENCC.TO - Sharpe Ratio Comparison

The current ZEO.TO Sharpe Ratio is 2.04, which is comparable to the ENCC.TO Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of ZEO.TO and ENCC.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Loading graphics...

Sharpe Ratios by Period

ZEO.TOENCC.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.04

1.76

+0.28

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.34

1.17

+0.17

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.43

0.32

+0.11

Sharpe Ratio (All Time)

Calculated using the full available price history

0.00

0.00

0.00

Correlation

The correlation between ZEO.TO and ENCC.TO is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

ZEO.TO vs. ENCC.TO - Dividend Comparison

ZEO.TO's dividend yield for the trailing twelve months is around 2.71%, less than ENCC.TO's 10.46% yield.

TTM20252024202320222021202020192018201720162015
ZEO.TO
BMO Equal Weight Oil & Gas Index ETF		2.71%3.42%3.86%4.82%4.69%3.27%5.54%3.55%3.57%2.46%2.50%4.09%
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ETF		10.46%13.62%14.58%14.87%12.55%4.23%5.10%6.09%8.35%6.92%4.77%15.15%

Drawdowns

ZEO.TO vs. ENCC.TO - Drawdown Comparison

The maximum ZEO.TO drawdown since its inception was -100.25%, which is greater than ENCC.TO's maximum drawdown of -89.91%. Use the drawdown chart below to compare losses from any high point for ZEO.TO and ENCC.TO.

Loading graphics...

Drawdown Indicators

ZEO.TOENCC.TODifference

Max Drawdown

Largest peak-to-trough decline

-100.25%

-89.91%

-10.34%

Max Drawdown (1Y)

Largest decline over 1 year

-17.62%

-16.61%

-1.01%

Max Drawdown (5Y)

Largest decline over 5 years

-22.59%

-25.57%

+2.98%

Max Drawdown (10Y)

Largest decline over 10 years

-72.03%

-82.16%

+10.13%

Current Drawdown

Current decline from peak

-0.85%

-1.87%

+1.02%

Average Drawdown

Average peak-to-trough decline

-49.97%

-40.25%

-9.72%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.75%

4.13%

+0.62%

Volatility

ZEO.TO vs. ENCC.TO - Volatility Comparison

BMO Equal Weight Oil & Gas Index ETF (ZEO.TO) and Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO) have volatilities of 3.66% and 3.50%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Loading graphics...

Volatility by Period

ZEO.TOENCC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.66%

3.50%

+0.16%

Volatility (6M)

Calculated over the trailing 6-month period

11.59%

9.78%

+1.81%

Volatility (1Y)

Calculated over the trailing 1-year period

19.50%

17.36%

+2.14%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.93%

23.28%

-2.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

27.23%

29.05%

-1.82%