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ZMT.TO vs. ZEQT.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ZMT.TO vs. ZEQT.TO

Last updated Apr 2, 2026

Compare and contrast key facts about BMO S&P/TSX Equal Weight Global Base Metals (CAD Hedged) (ZMT.TO) and BMO All-Equity ETF (ZEQT.TO).

ZMT.TO and ZEQT.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZMT.TO is a passively managed fund by BMO that tracks the performance of the Solactive Equal Weight Global Base Metals Index Canadian Dollar Hedged. It was launched on Oct 20, 2009. ZEQT.TO is an actively managed fund by BMO. It was launched on Jan 24, 2022.

Performance

ZMT.TO vs. ZEQT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO S&P/TSX Equal Weight Global Base Metals (CAD Hedged) (ZMT.TO) and BMO All-Equity ETF (ZEQT.TO). The values are adjusted to include any dividend payments, if applicable.

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

2026 (YTD)2025202420232022
ZMT.TO
BMO S&P/TSX Equal Weight Global Base Metals (CAD Hedged)		12.95%63.17%15.30%14.54%-5.75%
ZEQT.TO
BMO All-Equity ETF		1.00%19.67%25.44%16.79%-5.55%

Returns By Period

In the year-to-date period, ZMT.TO achieves a 12.95% return, which is significantly higher than ZEQT.TO's 1.00% return.

ZMT.TO

1D
3.17%
1M
-11.66%
YTD
12.95%
6M
29.14%
1Y
95.28%
3Y*
29.63%
5Y*
17.69%
10Y*
16.02%

ZEQT.TO

1D
0.59%
1M
-3.85%
YTD
1.00%
6M
2.22%
1Y
21.48%
3Y*
18.70%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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BMO S&P/TSX Equal Weight Global Base Metals (CAD Hedged)

BMO All-Equity ETF

Often compared with ZMT.TO:
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Often compared with ZEQT.TO:
ZEQT.TO vs. XEQT.TOZEQT.TO vs. VEQT.TOZEQT.TO vs. ZSP.TOZEQT.TO vs. VFV.TOZEQT.TO vs. VGRO.TOZEQT.TO vs. HEQT.TOZEQT.TO vs. TGRO.TO

ZMT.TO vs. ZEQT.TO - Expense Ratio Comparison

ZMT.TO has a 0.61% expense ratio, which is higher than ZEQT.TO's 0.20% expense ratio.

ZMT.TO
BMO S&P/TSX Equal Weight Global Base Metals (CAD Hedged)
ZEQT.TO
BMO All-Equity ETF

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZMT.TO
ZMT.TO Risk / Return Rank: 9292
Overall Rank
ZMT.TO Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
ZMT.TO Sortino Ratio Rank: 9393
Sortino Ratio Rank
ZMT.TO Omega Ratio Rank: 9292
Omega Ratio Rank
ZMT.TO Calmar Ratio Rank: 9494
Calmar Ratio Rank
ZMT.TO Martin Ratio Rank: 8989
Martin Ratio Rank
ZEQT.TO
ZEQT.TO Risk / Return Rank: 7171
Overall Rank
ZEQT.TO Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
ZEQT.TO Sortino Ratio Rank: 7171
Sortino Ratio Rank
ZEQT.TO Omega Ratio Rank: 7272
Omega Ratio Rank
ZEQT.TO Calmar Ratio Rank: 6868
Calmar Ratio Rank
ZEQT.TO Martin Ratio Rank: 7171
Martin Ratio Rank
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.

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

This table presents a comparison of risk-adjusted performance metrics for BMO S&P/TSX Equal Weight Global Base Metals (CAD Hedged) (ZMT.TO) and BMO All-Equity ETF (ZEQT.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.

ZMT.TOZEQT.TODifference

Sharpe ratio

Return per unit of total volatility

2.35

1.32

+1.04

Sortino ratio

Return per unit of downside risk

2.86

1.84

+1.02

Omega ratio

Gain probability vs. loss probability

1.41

1.28

+0.14

Calmar ratio

Return relative to maximum drawdown

3.84

1.79

+2.05

Martin ratio

Return relative to average drawdown

11.94

7.62

+4.31

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZMT.TO vs. ZEQT.TO - Sharpe Ratio Comparison

The current ZMT.TO Sharpe Ratio is 2.35, which is higher than the ZEQT.TO Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of ZMT.TO and ZEQT.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.

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Sharpe Ratios by Period

ZMT.TOZEQT.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.35

1.32

+1.04

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.53

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.48

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.00

1.02

-1.02

Correlation

The correlation between ZMT.TO and ZEQT.TO is 0.44, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ZMT.TO vs. ZEQT.TO - Dividend Comparison

ZMT.TO's dividend yield for the trailing twelve months is around 0.18%, less than ZEQT.TO's 1.44% yield.

TTM20252024202320222021202020192018201720162015
ZMT.TO
BMO S&P/TSX Equal Weight Global Base Metals (CAD Hedged)		0.18%0.21%0.34%0.87%1.46%2.82%1.03%2.34%3.95%1.29%1.24%1.10%
ZEQT.TO
BMO All-Equity ETF		1.44%1.45%1.69%2.13%2.43%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

ZMT.TO vs. ZEQT.TO - Drawdown Comparison

The maximum ZMT.TO drawdown since its inception was -80.73%, which is greater than ZEQT.TO's maximum drawdown of -16.87%. Use the drawdown chart below to compare losses from any high point for ZMT.TO and ZEQT.TO.

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Drawdown Indicators

ZMT.TOZEQT.TODifference

Max Drawdown

Largest peak-to-trough decline

-80.73%

-16.87%

-63.86%

Max Drawdown (1Y)

Largest decline over 1 year

-23.81%

-11.90%

-11.91%

Max Drawdown (5Y)

Largest decline over 5 years

-41.01%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-67.51%

—

—

Current Drawdown

Current decline from peak

-11.66%

-5.31%

-6.35%

Average Drawdown

Average peak-to-trough decline

-43.55%

-3.09%

-40.46%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.67%

2.80%

+4.87%

Volatility

ZMT.TO vs. ZEQT.TO - Volatility Comparison

BMO S&P/TSX Equal Weight Global Base Metals (CAD Hedged) (ZMT.TO) has a higher volatility of 16.83% compared to BMO All-Equity ETF (ZEQT.TO) at 5.48%. This indicates that ZMT.TO's price experiences larger fluctuations and is considered to be riskier than ZEQT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZMT.TOZEQT.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

16.83%

5.48%

+11.35%

Volatility (6M)

Calculated over the trailing 6-month period

32.73%

10.03%

+22.70%

Volatility (1Y)

Calculated over the trailing 1-year period

40.74%

16.40%

+24.34%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

33.32%

13.78%

+19.54%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

33.23%

13.78%

+19.45%