ZEQT.TO vs. FGEP.TO
ZEQT.TO (BMO All-Equity ETF) and FGEP.TO (Fidelity Global Equity+ Fund ETF) are both Global Equities funds. Both are actively managed. Over the past year, ZEQT.TO returned 32.71% vs 33.77% for FGEP.TO. Their correlation of 0.83 suggests significant overlap in exposure. ZEQT.TO charges 0.18%/yr vs 1.16%/yr for FGEP.TO.
Performance
ZEQT.TO vs. FGEP.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZEQT.TO achieves a 13.63% return, which is significantly lower than FGEP.TO's 17.63% return.
ZEQT.TO
- 1D
- 0.52%
- 1M
- 6.10%
- YTD
- 13.63%
- 6M
- 13.00%
- 1Y
- 32.71%
- 3Y*
- 22.68%
- 5Y*
- —
- 10Y*
- —
FGEP.TO
- 1D
- 0.73%
- 1M
- 5.77%
- YTD
- 17.63%
- 6M
- 17.82%
- 1Y
- 33.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZEQT.TO vs. FGEP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ZEQT.TO BMO All-Equity ETF | 13.63% | 19.67% | 12.09% |
FGEP.TO Fidelity Global Equity+ Fund ETF | 17.63% | 17.44% | 9.99% |
Correlation
The correlation between ZEQT.TO and FGEP.TO is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since May 23, 2024 | 0.83 |
The correlation between ZEQT.TO and FGEP.TO has been stable across timeframes, ranging from 0.79 to 0.83 - a consistent structural relationship.
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Return for Risk
ZEQT.TO vs. FGEP.TO — Risk / Return Rank
ZEQT.TO
FGEP.TO
ZEQT.TO vs. FGEP.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO All-Equity ETF (ZEQT.TO) and Fidelity Global Equity+ Fund ETF (FGEP.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 | FGEP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.61 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.77 | 4.75 | -0.99 |
| Martin ratioReturn relative to average drawdown | 15.90 | 20.01 | -4.11 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ZEQT.TO | FGEP.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.58 | 3.24 | -0.67 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.20 | 1.81 | -0.60 |
Drawdowns
ZEQT.TO vs. FGEP.TO - Drawdown Comparison
The maximum ZEQT.TO drawdown since its inception was -16.87%, which is greater than FGEP.TO's maximum drawdown of -14.78%. Use the drawdown chart below to compare losses from any high point for ZEQT.TO and FGEP.TO.
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Drawdown Indicators
| ZEQT.TO | FGEP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.87% | -14.78% | -2.09% |
Max Drawdown (1Y)Largest decline over 1 year | -8.72% | -7.14% | -1.58% |
Max Drawdown (3Y)Largest decline over 3 years | -15.34% | — | — |
Current DrawdownCurrent decline from peak | -0.64% | 0.00% | -0.64% |
Average DrawdownAverage peak-to-trough decline | -3.01% | -1.63% | -1.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.06% | 1.69% | +0.37% |
Volatility
ZEQT.TO vs. FGEP.TO - Volatility Comparison
BMO All-Equity ETF (ZEQT.TO) has a higher volatility of 5.21% compared to Fidelity Global Equity+ Fund ETF (FGEP.TO) at 3.77%. This indicates that ZEQT.TO's price experiences larger fluctuations and is considered to be riskier than FGEP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZEQT.TO | FGEP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.21% | 3.77% | +1.44% |
Volatility (6M)Calculated over the trailing 6-month period | 10.42% | 8.36% | +2.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.75% | 10.46% | +2.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.85% | 12.69% | +1.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.85% | 12.69% | +1.16% |
ZEQT.TO vs. FGEP.TO - Expense Ratio Comparison
ZEQT.TO has a 0.18% expense ratio, which is lower than FGEP.TO's 1.16% expense ratio.
Dividends
ZEQT.TO vs. FGEP.TO - Dividend Comparison
ZEQT.TO's dividend yield for the trailing twelve months is around 1.28%, while FGEP.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
FGEP.TO Fidelity Global Equity+ Fund 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
ZEQT.TO and FGEP.TO have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZEQT.TO is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZEQT.TO is cheaper with a 0.18% expense ratio, compared with 1.16% for FGEP.TO.
They also come from different issuers: BMO and Fidelity. Their fees differ too: 0.18% for ZEQT.TO and 1.16% for FGEP.TO.
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