ZEQT.TO vs. CAGE.TO

Last updated Jun 5, 2026

ZEQT.TO (BMO All-Equity ETF) and CAGE.TO (Avantis CIBC All-Equity Asset Allocation ETF) are both Global Equities funds. Both are actively managed. A 0.74 correlation means they provide meaningful diversification when combined.

Performance

ZEQT.TO vs. CAGE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO All-Equity ETF (ZEQT.TO) and Avantis CIBC All-Equity Asset Allocation ETF (CAGE.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ZEQT.TO

• 1D: 0.52%
• 1M: 6.10%
• YTD: 13.63%
• 6M: 13.00%
• 1Y: 32.71%
• 3Y*: 22.68%
• 5Y*: —
• 10Y*: —

CAGE.TO

• 1D: 0.67%
• 1M: 5.30%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ZEQT.TO vs. CAGE.TO - Yearly Performance Comparison

	2026 (YTD)
ZEQT.TO BMO All-Equity ETF	13.80%
CAGE.TO Avantis CIBC All-Equity Asset Allocation ETF	12.46%

Correlation

The correlation between ZEQT.TO and CAGE.TO is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 19, 2026	0.74

Return for Risk

ZEQT.TO vs. CAGE.TO — Risk / Return Rank

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

ZEQT.TO

ZEQT.TO Risk / Return Rank: 80
ZEQT.TO Sharpe Ratio Rank: 81
ZEQT.TO Sortino Ratio Rank: 81
ZEQT.TO Omega Ratio Rank: 80
ZEQT.TO Calmar Ratio Rank: 76
ZEQT.TO Martin Ratio Rank: 81

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.

ZEQT.TO vs. CAGE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO All-Equity ETF (ZEQT.TO) and Avantis CIBC All-Equity Asset Allocation ETF (CAGE.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.

	ZEQT.TO	CAGE.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.58	—	—
Sortino ratio: Return per unit of downside risk	3.57	—	—
Omega ratio: Gain probability vs. loss probability	1.47	—	—
Calmar ratio: Return relative to maximum drawdown	3.77	—	—
Martin ratio: Return relative to average drawdown	15.90	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ZEQT.TO	CAGE.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.58	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.20	4.71	-3.51

Drawdowns

ZEQT.TO vs. CAGE.TO - Drawdown Comparison

The maximum ZEQT.TO drawdown since its inception was -16.87%, which is greater than CAGE.TO's maximum drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for ZEQT.TO and CAGE.TO.

Drawdown Indicators

	ZEQT.TO	CAGE.TO	Difference
Max Drawdown Largest peak-to-trough decline	-16.87%	-2.93%	-13.94%
Max Drawdown (1Y) Largest decline over 1 year	-8.72%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.34%	—	—
Current Drawdown Current decline from peak	-0.64%	-1.31%	+0.67%
Average Drawdown Average peak-to-trough decline	-3.01%	-0.73%	-2.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	—	—

Volatility

Volatility by Period

	ZEQT.TO	CAGE.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.21%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.42%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.75%	15.63%	-2.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.85%	15.63%	-1.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.85%	15.63%	-1.78%

Dividends

ZEQT.TO vs. CAGE.TO - Dividend Comparison

ZEQT.TO's dividend yield for the trailing twelve months is around 1.28%, while CAGE.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
CAGE.TO Avantis CIBC All-Equity Asset Allocation ETF	0.00%	0.00%	0.00%	0.00%	0.00%
ZEQT.TO BMO All-Equity ETF	1.28%	1.45%	1.69%	2.13%	2.43%

Frequently Asked Questions

Can I hold both ZEQT.TO and CAGE.TO in my portfolio?

ZEQT.TO and CAGE.TO have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between ZEQT.TO and CAGE.TO?

They also come from different issuers: BMO and Avantis.