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ZEO.TO vs. OILY.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ZEO.TO vs. OILY.TO

Last updated Apr 2, 2026

Compare and contrast key facts about BMO Equal Weight Oil & Gas Index ETF (ZEO.TO) and Evolve Canadian Energy Enhanced Yield Index Fund ETF (OILY.TO).

ZEO.TO and OILY.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. OILY.TO is a passively managed fund by Evolve that tracks the performance of the Solactive Canada Energy Top 10 Index. It was launched on Mar 26, 2025. Both ZEO.TO and OILY.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ZEO.TO vs. OILY.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 Evolve Canadian Energy Enhanced Yield Index Fund ETF (OILY.TO). The values are adjusted to include any dividend payments, if applicable.

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

2026 (YTD)2025
ZEO.TO
BMO Equal Weight Oil & Gas Index ETF		27.36%6.66%
OILY.TO
Evolve Canadian Energy Enhanced Yield Index Fund ETF		30.30%3.96%

Returns By Period

In the year-to-date period, ZEO.TO achieves a 27.36% return, which is significantly lower than OILY.TO's 30.30% return.

ZEO.TO

1D
-3.17%
1M
5.82%
YTD
27.36%
6M
26.79%
1Y
34.45%
3Y*
24.34%
5Y*
27.04%
10Y*
11.19%

OILY.TO

1D
-2.08%
1M
9.89%
YTD
30.30%
6M
31.31%
1Y
36.97%
3Y*
—
5Y*
—
10Y*
—
*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

Evolve Canadian Energy Enhanced Yield Index Fund ETF

Often compared with ZEO.TO:
ZEO.TO vs. XEG.TOZEO.TO vs. NRGY.TOZEO.TO vs. XLEZEO.TO vs. ENCC.TOZEO.TO vs. VOOZEO.TO vs. HXT.TOZEO.TO vs. VFV.TO
Often compared with OILY.TO:
OILY.TO vs. ENCC.TOOILY.TO vs. ENCL.TOOILY.TO vs. ZWU.TOOILY.TO vs. HXE.TOOILY.TO vs. HISA.NEOOILY.TO vs. CANY.TOOILY.TO vs. EBNK.TO

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

Both ZEO.TO and OILY.TO have an expense ratio of 0.60%.

ZEO.TO
BMO Equal Weight Oil & Gas Index ETF
OILY.TO
Evolve Canadian Energy Enhanced Yield Index Fund ETF

Return for Risk

ZEO.TO vs. OILY.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: 7878
Overall Rank
ZEO.TO Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
ZEO.TO Sortino Ratio Rank: 8181
Sortino Ratio Rank
ZEO.TO Omega Ratio Rank: 8484
Omega Ratio Rank
ZEO.TO Calmar Ratio Rank: 7272
Calmar Ratio Rank
ZEO.TO Martin Ratio Rank: 6868
Martin Ratio Rank
OILY.TO
OILY.TO Risk / Return Rank: 7373
Overall Rank
OILY.TO Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
OILY.TO Sortino Ratio Rank: 7676
Sortino Ratio Rank
OILY.TO Omega Ratio Rank: 8181
Omega Ratio Rank
OILY.TO Calmar Ratio Rank: 6666
Calmar Ratio Rank
OILY.TO Martin Ratio Rank: 6161
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. OILY.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 Evolve Canadian Energy Enhanced Yield Index Fund ETF (OILY.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.TOOILY.TODifference

Sharpe ratio

Return per unit of total volatility

1.75

1.51

+0.24

Sortino ratio

Return per unit of downside risk

2.18

1.94

+0.24

Omega ratio

Gain probability vs. loss probability

1.35

1.32

+0.03

Calmar ratio

Return relative to maximum drawdown

1.99

1.68

+0.31

Martin ratio

Return relative to average drawdown

7.37

6.06

+1.31

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. OILY.TO - Sharpe Ratio Comparison

The current ZEO.TO Sharpe Ratio is 1.75, which is comparable to the OILY.TO Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of ZEO.TO and OILY.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.

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Sharpe Ratios by Period

ZEO.TOOILY.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.75

1.51

+0.24

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.30

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.41

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.00

1.43

-1.43

Correlation

The correlation between ZEO.TO and OILY.TO is 0.82, 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. OILY.TO - Dividend Comparison

ZEO.TO's dividend yield for the trailing twelve months is around 2.80%, less than OILY.TO's 11.26% yield.

TTM20252024202320222021202020192018201720162015
ZEO.TO
BMO Equal Weight Oil & Gas Index ETF		2.80%3.42%3.86%4.82%4.69%3.27%5.54%3.55%3.57%2.46%2.50%4.09%
OILY.TO
Evolve Canadian Energy Enhanced Yield Index Fund ETF		11.26%11.50%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

ZEO.TO vs. OILY.TO - Drawdown Comparison

The maximum ZEO.TO drawdown since its inception was -100.25%, which is greater than OILY.TO's maximum drawdown of -22.70%. Use the drawdown chart below to compare losses from any high point for ZEO.TO and OILY.TO.

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Drawdown Indicators

ZEO.TOOILY.TODifference

Max Drawdown

Largest peak-to-trough decline

-100.25%

-22.70%

-77.55%

Max Drawdown (1Y)

Largest decline over 1 year

-17.62%

-22.70%

+5.08%

Max Drawdown (5Y)

Largest decline over 5 years

-22.59%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-72.03%

—

—

Current Drawdown

Current decline from peak

-3.99%

-2.40%

-1.59%

Average Drawdown

Average peak-to-trough decline

-49.96%

-4.52%

-45.44%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.76%

6.29%

-1.53%

Volatility

ZEO.TO vs. OILY.TO - Volatility Comparison

BMO Equal Weight Oil & Gas Index ETF (ZEO.TO) has a higher volatility of 5.16% compared to Evolve Canadian Energy Enhanced Yield Index Fund ETF (OILY.TO) at 4.79%. This indicates that ZEO.TO's price experiences larger fluctuations and is considered to be riskier than OILY.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZEO.TOOILY.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.16%

4.79%

+0.37%

Volatility (6M)

Calculated over the trailing 6-month period

12.06%

13.41%

-1.35%

Volatility (1Y)

Calculated over the trailing 1-year period

19.76%

24.63%

-4.87%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.95%

24.66%

-3.71%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

27.24%

24.66%

+2.58%