ZEO vs. ZWB.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Zeo Energy Corp (ZEO) and BMO Covered Call Canadian Banks ETF (ZWB.TO).

ZWB.TO is an actively managed fund by BMO. It was launched on Jan 9, 2024.

Performance

ZEO vs. ZWB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Zeo Energy Corp (ZEO) and BMO Covered Call Canadian Banks ETF (ZWB.TO). The values are adjusted to include any dividend payments, if applicable.

ZEO vs. ZWB.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ZEO Zeo Energy Corp	-47.34%	-68.22%	-69.54%	8.90%	4.23%	0.71%
ZWB.TO BMO Covered Call Canadian Banks ETF	0.15%	41.38%	9.98%	9.10%	-16.96%	2.42%

Different Trading Currencies

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

Returns By Period

In the year-to-date period, ZEO achieves a -47.34% return, which is significantly lower than ZWB.TO's 0.15% return.

ZEO

• 1D: -1.37%
• 1M: -53.33%
• YTD: -47.34%
• 6M: -57.48%
• 1Y: -61.99%
• 3Y*: -62.05%
• 5Y*: —
• 10Y*: —

ZWB.TO

• 1D: 2.66%
• 1M: -5.32%
• YTD: 0.15%
• 6M: 13.45%
• 1Y: 47.26%
• 3Y*: 18.78%
• 5Y*: 10.27%
• 10Y*: 10.48%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

ZEO vs. ZWB.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ZEO

ZEO Risk / Return Rank: 24
ZEO Sharpe Ratio Rank: 24
ZEO Sortino Ratio Rank: 32
ZEO Omega Ratio Rank: 31
ZEO Calmar Ratio Rank: 14
ZEO Martin Ratio Rank: 17

ZWB.TO

ZWB.TO Risk / Return Rank: 98
ZWB.TO Sharpe Ratio Rank: 98
ZWB.TO Sortino Ratio Rank: 98
ZWB.TO Omega Ratio Rank: 98
ZWB.TO Calmar Ratio Rank: 98
ZWB.TO Martin Ratio Rank: 97

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 vs. ZWB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Zeo Energy Corp (ZEO) and BMO Covered Call Canadian Banks ETF (ZWB.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	ZWB.TO	Difference
Sharpe ratio Return per unit of total volatility	-0.37	3.35	-3.73
Sortino ratio Return per unit of downside risk	0.09	4.44	-4.35
Omega ratio Gain probability vs. loss probability	1.01	1.66	-0.65
Calmar ratio Return relative to maximum drawdown	-0.78	5.23	-6.00
Martin ratio Return relative to average drawdown	-1.23	23.35	-24.58
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 vs. ZWB.TO - Sharpe Ratio Comparison

The current ZEO Sharpe Ratio is -0.37, which is lower than the ZWB.TO Sharpe Ratio of 3.35. The chart below compares the historical Sharpe Ratios of ZEO and ZWB.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.

Sharpe Ratios by Period

	ZEO	ZWB.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.37	3.35	-3.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.64	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.55	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.37	0.41	-0.78

Correlation

The correlation between ZEO and ZWB.TO is 0.08, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ZEO vs. ZWB.TO - Dividend Comparison

ZEO has not paid dividends to shareholders, while ZWB.TO's dividend yield for the trailing twelve months is around 5.49%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ZEO Zeo Energy Corp	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ZWB.TO BMO Covered Call Canadian Banks ETF	5.49%	5.38%	6.66%	7.62%	7.30%	5.46%	5.80%	5.53%	5.59%	4.80%	5.04%	5.64%

Drawdowns

ZEO vs. ZWB.TO - Drawdown Comparison

The maximum ZEO drawdown since its inception was -95.02%, which is greater than ZWB.TO's maximum drawdown of -44.99%. Use the drawdown chart below to compare losses from any high point for ZEO and ZWB.TO.

Drawdown Indicators

	ZEO	ZWB.TO	Difference
Max Drawdown Largest peak-to-trough decline	-95.02%	-39.36%	-55.66%
Max Drawdown (1Y) Largest decline over 1 year	-83.27%	-8.10%	-75.17%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.26%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.36%	—
Current Drawdown Current decline from peak	-95.02%	-5.09%	-89.93%
Average Drawdown Average peak-to-trough decline	-39.30%	-5.61%	-33.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	52.39%	2.00%	+50.39%

Volatility

ZEO vs. ZWB.TO - Volatility Comparison

Zeo Energy Corp (ZEO) has a higher volatility of 18.59% compared to BMO Covered Call Canadian Banks ETF (ZWB.TO) at 6.15%. This indicates that ZEO's price experiences larger fluctuations and is considered to be riskier than ZWB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZEO	ZWB.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.59%	6.15%	+12.44%
Volatility (6M) Calculated over the trailing 6-month period	71.72%	10.24%	+61.48%
Volatility (1Y) Calculated over the trailing 1-year period	165.99%	14.17%	+151.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	129.94%	16.11%	+113.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	129.94%	19.10%	+110.84%