ZEQT.TO vs. PRBLX

Last updated Jun 5, 2026

ZEQT.TO (BMO All-Equity ETF) and PRBLX (Parnassus Core Equity Fund) are both funds - ZEQT.TO is a Global Equities fund actively managed by BMO, while PRBLX is a Large Cap Blend Equities fund managed by Parnassus. Over the past 3 years, ZEQT.TO returned 22.68%/yr vs 17.80%/yr for PRBLX. A 0.68 correlation means they provide meaningful diversification when combined. ZEQT.TO charges 0.18%/yr vs 0.82%/yr for PRBLX.

Performance

ZEQT.TO vs. PRBLX - Performance Comparison

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

Different Trading Currencies

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

Returns By Period

In the year-to-date period, ZEQT.TO achieves a 13.63% return, which is significantly higher than PRBLX's 7.78% return.

ZEQT.TO

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

PRBLX

• 1D: 0.13%
• 1M: 5.11%
• YTD: 7.78%
• 6M: 5.41%
• 1Y: 16.26%
• 3Y*: 17.80%
• 5Y*: 13.23%
• 10Y*: 14.41%

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

ZEQT.TO vs. PRBLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
ZEQT.TO BMO All-Equity ETF	13.63%	19.67%	25.44%	16.79%	-5.55%
PRBLX Parnassus Core Equity Fund	7.78%	6.55%	28.76%	22.22%	-5.49%

Correlation

The correlation between ZEQT.TO and PRBLX is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jan 28, 2022	0.68

The correlation between ZEQT.TO and PRBLX has been stable across timeframes, ranging from 0.68 to 0.76 - a consistent structural relationship.

Return for Risk

ZEQT.TO vs. PRBLX — 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

PRBLX

PRBLX Risk / Return Rank: 18
PRBLX Sharpe Ratio Rank: 19
PRBLX Sortino Ratio Rank: 18
PRBLX Omega Ratio Rank: 18
PRBLX Calmar Ratio Rank: 14
PRBLX Martin Ratio Rank: 19

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. PRBLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO All-Equity ETF (ZEQT.TO) and Parnassus Core Equity Fund (PRBLX). 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	PRBLX	Difference
Sharpe ratio: Return per unit of total volatility	2.58	1.40	+1.18
Sortino ratio: Return per unit of downside risk	3.57	1.98	+1.59
Omega ratio: Gain probability vs. loss probability	1.47	1.26	+0.22
Calmar ratio: Return relative to maximum drawdown	3.77	1.44	+2.33
Martin ratio: Return relative to average drawdown	15.90	4.82	+11.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZEQT.TO vs. PRBLX - Sharpe Ratio Comparison

The current ZEQT.TO Sharpe Ratio is 2.58, which is higher than the PRBLX Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of ZEQT.TO and PRBLX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ZEQT.TO	PRBLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.58	1.40	+1.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.92	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.92	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.20	1.09	+0.12

Drawdowns

ZEQT.TO vs. PRBLX - Drawdown Comparison

The maximum ZEQT.TO drawdown since its inception was -16.87%, smaller than the maximum PRBLX drawdown of -23.43%. Use the drawdown chart below to compare losses from any high point for ZEQT.TO and PRBLX.

Drawdown Indicators

	ZEQT.TO	PRBLX	Difference
Max Drawdown Largest peak-to-trough decline	-16.87%	-23.43%	+6.56%
Max Drawdown (1Y) Largest decline over 1 year	-8.72%	-11.33%	+2.61%
Max Drawdown (3Y) Largest decline over 3 years	-15.34%	-17.04%	+1.70%
Max Drawdown (5Y) Largest decline over 5 years	—	-22.62%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-23.43%	—
Current Drawdown Current decline from peak	-0.64%	0.00%	-0.64%
Average Drawdown Average peak-to-trough decline	-3.01%	-3.22%	+0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	3.37%	-1.31%

Volatility

ZEQT.TO vs. PRBLX - Volatility Comparison

BMO All-Equity ETF (ZEQT.TO) has a higher volatility of 5.21% compared to Parnassus Core Equity Fund (PRBLX) at 2.81%. This indicates that ZEQT.TO's price experiences larger fluctuations and is considered to be riskier than PRBLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZEQT.TO	PRBLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.21%	2.81%	+2.40%
Volatility (6M) Calculated over the trailing 6-month period	10.42%	9.01%	+1.41%
Volatility (1Y) Calculated over the trailing 1-year period	12.75%	11.70%	+1.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.85%	14.48%	-0.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.85%	15.74%	-1.89%

ZEQT.TO vs. PRBLX - Expense Ratio Comparison

ZEQT.TO has a 0.18% expense ratio, which is lower than PRBLX's 0.82% expense ratio.

Dividends

ZEQT.TO vs. PRBLX - Dividend Comparison

ZEQT.TO's dividend yield for the trailing twelve months is around 1.28%, less than PRBLX's 17.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRBLX Parnassus Core Equity Fund	17.88%	19.08%	10.00%	6.01%	10.13%	7.77%	5.87%	8.02%	9.64%	7.16%	3.80%	9.62%
ZEQT.TO BMO All-Equity ETF	1.28%	1.45%	1.69%	2.13%	2.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

ZEQT.TO and PRBLX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.