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ZRE.TO vs. BGRT.NEO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZRE.TO vs. BGRT.NEO

Last updated Jun 4, 2026

ZRE.TO (BMO Equal Weight REITs Index ETF) and BGRT.NEO (BMO Global REIT Fund Active ETF Series) are both REIT funds from BMO. ZRE.TO is passively managed, while BGRT.NEO is actively managed. Over the past year, ZRE.TO returned 11.30% vs 6.97% for BGRT.NEO. At a 0.19 correlation, their price movements are largely independent. ZRE.TO charges 0.61%/yr vs 1.01%/yr for BGRT.NEO.

Performance

ZRE.TO vs. BGRT.NEO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Equal Weight REITs Index ETF (ZRE.TO) and BMO Global REIT Fund Active ETF Series (BGRT.NEO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ZRE.TO achieves a 9.53% return, which is significantly higher than BGRT.NEO's 6.70% return.

ZRE.TO

1D
-0.34%
1M
0.68%
YTD
9.53%
6M
10.66%
1Y
11.30%
3Y*
8.06%
5Y*
3.45%
10Y*
6.80%

BGRT.NEO

1D
0.00%
1M
-0.56%
YTD
6.70%
6M
5.55%
1Y
6.97%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZRE.TO vs. BGRT.NEO - Yearly Performance Comparison

2026 (YTD)202520242023
ZRE.TO
BMO Equal Weight REITs Index ETF		9.53%11.21%2.82%5.45%
BGRT.NEO
BMO Global REIT Fund Active ETF Series		6.70%1.51%5.79%8.18%

Correlation

The correlation between ZRE.TO and BGRT.NEO is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.13

Correlation (All Time)
Calculated using the full available price history since Jun 28, 2023

0.19

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

BMO Equal Weight REITs Index ETF

BMO Global REIT Fund Active ETF Series

Often compared with ZRE.TO:
ZRE.TO vs. XRE.TOZRE.TO vs. VREZRE.TO vs. VNQZRE.TO vs. VDY.TOZRE.TO vs. VRE.TOZRE.TO vs. XEQT.TOZRE.TO vs. VOO
Often compared with BGRT.NEO:
BGRT.NEO vs. MREL.TOBGRT.NEO vs. RIT.TOBGRT.NEO vs. CGR.TOBGRT.NEO vs. VRE.TOBGRT.NEO vs. XRE.TOBGRT.NEO vs. ZEQT.TOBGRT.NEO vs. ZUQ.TO

Return for Risk

ZRE.TO vs. BGRT.NEO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZRE.TO
ZRE.TO Risk / Return Rank: 2929
Overall Rank
ZRE.TO Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
ZRE.TO Sortino Ratio Rank: 2828
Sortino Ratio Rank
ZRE.TO Omega Ratio Rank: 2626
Omega Ratio Rank
ZRE.TO Calmar Ratio Rank: 3232
Calmar Ratio Rank
ZRE.TO Martin Ratio Rank: 2929
Martin Ratio Rank
BGRT.NEO
BGRT.NEO Risk / Return Rank: 3030
Overall Rank
BGRT.NEO Sharpe Ratio Rank: 2222
Sharpe Ratio Rank
BGRT.NEO Sortino Ratio Rank: 1919
Sortino Ratio Rank
BGRT.NEO Omega Ratio Rank: 5858
Omega Ratio Rank
BGRT.NEO Calmar Ratio Rank: 2525
Calmar Ratio Rank
BGRT.NEO Martin Ratio Rank: 2424
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.

ZRE.TO vs. BGRT.NEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Equal Weight REITs Index ETF (ZRE.TO) and BMO Global REIT Fund Active ETF Series (BGRT.NEO). 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.

ZRE.TOBGRT.NEODifference
Sharpe ratioReturn per unit of total volatility
1.02
0.72

+0.30

Sortino ratioReturn per unit of downside risk
1.54
0.96

+0.59

Omega ratioGain probability vs. loss probability

1.18

1.35

-0.17

Calmar ratioReturn relative to maximum drawdown

1.61

1.13

+0.47

Martin ratioReturn relative to average drawdown

4.29

3.09

+1.20

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

ZRE.TO vs. BGRT.NEO - Sharpe Ratio Comparison

The current ZRE.TO Sharpe Ratio is 1.02, which is higher than the BGRT.NEO Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of ZRE.TO and BGRT.NEO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

ZRE.TOBGRT.NEODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.02

0.72

+0.30

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.22

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.39

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.52

0.54

-0.02

Drawdowns

ZRE.TO vs. BGRT.NEO - Drawdown Comparison

The maximum ZRE.TO drawdown since its inception was -46.29%, which is greater than BGRT.NEO's maximum drawdown of -16.06%. Use the drawdown chart below to compare losses from any high point for ZRE.TO and BGRT.NEO.

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Drawdown Indicators

ZRE.TOBGRT.NEODifference

Max Drawdown

Largest peak-to-trough decline

-46.29%

-16.06%

-30.23%

Max Drawdown (1Y)

Largest decline over 1 year

-7.07%

-6.17%

-0.90%

Max Drawdown (3Y)

Largest decline over 3 years

-17.16%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-32.52%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-46.29%

—

—

Current Drawdown

Current decline from peak

-0.71%

-2.24%

+1.53%

Average Drawdown

Average peak-to-trough decline

-7.74%

-4.02%

-3.72%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.64%

2.26%

+0.38%

Volatility

ZRE.TO vs. BGRT.NEO - Volatility Comparison

BMO Equal Weight REITs Index ETF (ZRE.TO) has a higher volatility of 2.83% compared to BMO Global REIT Fund Active ETF Series (BGRT.NEO) at 2.59%. This indicates that ZRE.TO's price experiences larger fluctuations and is considered to be riskier than BGRT.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZRE.TOBGRT.NEODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.83%

2.59%

+0.24%

Volatility (6M)

Calculated over the trailing 6-month period

8.39%

8.12%

+0.27%

Volatility (1Y)

Calculated over the trailing 1-year period

11.09%

9.72%

+1.37%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.55%

14.17%

+1.38%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.68%

14.17%

+3.51%

ZRE.TO vs. BGRT.NEO - Expense Ratio Comparison

ZRE.TO has a 0.61% expense ratio, which is lower than BGRT.NEO's 1.01% expense ratio.

Dividends

ZRE.TO vs. BGRT.NEO - Dividend Comparison

ZRE.TO's dividend yield for the trailing twelve months is around 4.42%, more than BGRT.NEO's 3.94% yield.

PositionTTM20252024202320222021202020192018201720162015
BGRT.NEO
BMO Global REIT Fund Active ETF Series		3.94%4.14%4.03%1.86%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
ZRE.TO
BMO Equal Weight REITs Index ETF		4.42%4.90%5.19%5.07%4.90%3.82%4.95%4.11%4.89%4.98%5.39%5.92%

Frequently Asked Questions

ZRE.TO and BGRT.NEO have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZRE.TO is cheaper at 0.61% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZRE.TO is cheaper with a 0.61% expense ratio, compared with 1.01% for BGRT.NEO.

Their fees differ too: 0.61% for ZRE.TO and 1.01% for BGRT.NEO.

Portfolio Optimizer

Find the right allocation for ZRE.TO and BGRT.NEO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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