ZESG.TO vs. CEQT.TO

Last updated Apr 1, 2026

Compare and contrast key facts about BMO Balanced ESG ETF (ZESG.TO) and CI Equity Asset Allocation ETF (CEQT.TO).

ZESG.TO and CEQT.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZESG.TO is an actively managed fund by BMO. It was launched on Jan 15, 2020. CEQT.TO is an actively managed fund by CI. It was launched on May 17, 2023.

Performance

ZESG.TO vs. CEQT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Balanced ESG ETF (ZESG.TO) and CI Equity Asset Allocation ETF (CEQT.TO). The values are adjusted to include any dividend payments, if applicable.

ZESG.TO vs. CEQT.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ZESG.TO BMO Balanced ESG ETF	-1.73%	12.26%	16.70%	8.58%
CEQT.TO CI Equity Asset Allocation ETF	-1.84%	18.84%	27.38%	6.47%

Returns By Period

In the year-to-date period, ZESG.TO achieves a -1.73% return, which is significantly higher than CEQT.TO's -1.84% return.

ZESG.TO

• 1D: 1.70%
• 1M: -3.57%
• YTD: -1.73%
• 6M: -0.25%
• 1Y: 11.23%
• 3Y*: 11.96%
• 5Y*: 7.37%
• 10Y*: —

CEQT.TO

• 1D: -0.49%
• 1M: -6.66%
• YTD: -1.84%
• 6M: 1.25%
• 1Y: 18.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ZESG.TO vs. CEQT.TO - Expense Ratio Comparison

ZESG.TO has a 0.18% expense ratio, which is lower than CEQT.TO's 0.30% expense ratio.

CEQT.TO

CI Equity Asset Allocation ETF

ZESG.TO

BMO Balanced ESG ETF

Return for Risk

ZESG.TO vs. CEQT.TO — Risk / Return Rank

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

ZESG.TO

ZESG.TO Risk / Return Rank: 62
ZESG.TO Sharpe Ratio Rank: 69
ZESG.TO Sortino Ratio Rank: 67
ZESG.TO Omega Ratio Rank: 62
ZESG.TO Calmar Ratio Rank: 54
ZESG.TO Martin Ratio Rank: 56

CEQT.TO

CEQT.TO Risk / Return Rank: 59
CEQT.TO Sharpe Ratio Rank: 54
CEQT.TO Sortino Ratio Rank: 55
CEQT.TO Omega Ratio Rank: 88
CEQT.TO Calmar Ratio Rank: 45
CEQT.TO Martin Ratio Rank: 56

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.

ZESG.TO vs. CEQT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Balanced ESG ETF (ZESG.TO) and CI Equity Asset Allocation ETF (CEQT.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.

	ZESG.TO	CEQT.TO	Difference
Sharpe ratio Return per unit of total volatility	1.24	0.98	+0.26
Sortino ratio Return per unit of downside risk	1.72	1.46	+0.26
Omega ratio Gain probability vs. loss probability	1.24	1.36	-0.13
Calmar ratio Return relative to maximum drawdown	1.41	1.19	+0.22
Martin ratio Return relative to average drawdown	5.61	5.56	+0.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZESG.TO vs. CEQT.TO - Sharpe Ratio Comparison

The current ZESG.TO Sharpe Ratio is 1.24, which is comparable to the CEQT.TO Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of ZESG.TO and CEQT.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

	ZESG.TO	CEQT.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.24	0.98	+0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.93	1.35	-3.28

Correlation

The correlation between ZESG.TO and CEQT.TO is 0.29, 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

ZESG.TO vs. CEQT.TO - Dividend Comparison

ZESG.TO's dividend yield for the trailing twelve months is around 1.78%, more than CEQT.TO's 1.04% yield.

	TTM	2025	2024	2023	2022	2021	2020
ZESG.TO BMO Balanced ESG ETF	1.78%	1.71%	1.89%	2.22%	2.53%	2.05%	2.27%
CEQT.TO CI Equity Asset Allocation ETF	1.04%	1.25%	1.82%	1.06%	0.00%	0.00%	0.00%

Drawdowns

ZESG.TO vs. CEQT.TO - Drawdown Comparison

The maximum ZESG.TO drawdown since its inception was -100.00%, which is greater than CEQT.TO's maximum drawdown of -14.02%. Use the drawdown chart below to compare losses from any high point for ZESG.TO and CEQT.TO.

Drawdown Indicators

	ZESG.TO	CEQT.TO	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-14.02%	-85.98%
Max Drawdown (1Y) Largest decline over 1 year	-7.18%	-11.49%	+4.31%
Max Drawdown (5Y) Largest decline over 5 years	-18.81%	—	—
Current Drawdown Current decline from peak	-100.00%	-7.26%	-92.74%
Average Drawdown Average peak-to-trough decline	-99.93%	-1.20%	-98.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.81%	2.90%	-1.09%

Volatility

ZESG.TO vs. CEQT.TO - Volatility Comparison

BMO Balanced ESG ETF (ZESG.TO) and CI Equity Asset Allocation ETF (CEQT.TO) have volatilities of 3.65% and 3.60%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZESG.TO	CEQT.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.65%	3.60%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	6.28%	7.69%	-1.41%
Volatility (1Y) Calculated over the trailing 1-year period	9.13%	16.53%	-7.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.85%	12.94%	-4.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.49%	12.94%	+28.55%