PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
ZRE.TO vs. NNRG.NEO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZRE.TO vs. NNRG.NEO

Last updated Jun 4, 2026

ZRE.TO (BMO Equal Weight REITs Index ETF) and NNRG.NEO (Ninepoint Energy ETF) are both exchange-traded funds - ZRE.TO is a REIT fund tracking the Solactive Equal Weight Canada REIT Index, while NNRG.NEO is a Energy Equities fund tracking the S&P/TSX Capped Energy Total Return Index. Both are passively managed. Over the past 5 years, ZRE.TO returned 3.45%/yr vs 33.81%/yr for NNRG.NEO. At a 0.18 correlation, their price movements are largely independent. ZRE.TO charges 0.61%/yr vs 1.79%/yr for NNRG.NEO.

Performance

ZRE.TO vs. NNRG.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 Ninepoint Energy ETF (NNRG.NEO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, ZRE.TO achieves a 9.53% return, which is significantly lower than NNRG.NEO's 45.59% 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%

NNRG.NEO

1D
1.60%
1M
-1.33%
YTD
45.59%
6M
38.09%
1Y
66.96%
3Y*
26.11%
5Y*
33.81%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024202320222021
ZRE.TO
BMO Equal Weight REITs Index ETF		9.53%11.21%2.82%0.84%-17.80%17.43%
NNRG.NEO
Ninepoint Energy ETF		45.59%19.14%13.26%-4.21%66.18%55.91%

Correlation

The correlation between ZRE.TO and NNRG.NEO is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

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

-0.15

Correlation (3Y)
Calculated over the trailing 3-year period

0.10

Correlation (5Y)
Calculated over the trailing 5-year period

0.18

Correlation (All Time)
Calculated using the full available price history since May 12, 2021

0.18

The correlation between ZRE.TO and NNRG.NEO shifts across timeframes, from -0.15 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.

ZRE.TO vs. NNRG.NEO - Sectors Allocation Comparison

Sectors
ZRE.TO
NNRG.NEO

Real Estate

100.0%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

100.0%

Financial Services

-

-

Healthcare

-

-

Industrials

-

-

Technology

-

-

Utilities

-

-

Real Estate

ZRE.TO
100.0%
NNRG.NEO

-

Basic Materials

ZRE.TO

-

NNRG.NEO

-

Communication Services

ZRE.TO

-

NNRG.NEO

-

Consumer Cyclical

ZRE.TO

-

NNRG.NEO

-

Consumer Defensive

ZRE.TO

-

NNRG.NEO

-

Energy

ZRE.TO

-

NNRG.NEO
100.0%

Financial Services

ZRE.TO

-

NNRG.NEO

-

Healthcare

ZRE.TO

-

NNRG.NEO

-

Industrials

ZRE.TO

-

NNRG.NEO

-

Technology

ZRE.TO

-

NNRG.NEO

-

Utilities

ZRE.TO

-

NNRG.NEO

-

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

Ninepoint Energy ETF

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 NNRG.NEO:
NNRG.NEO vs. XEG.TONNRG.NEO vs. DXMO.TONNRG.NEO vs. EFX.TONNRG.NEO vs. IXCNNRG.NEO vs. ENCC.TONNRG.NEO vs. CIF.TONNRG.NEO vs. FRU.TO

Return for Risk

ZRE.TO vs. NNRG.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
NNRG.NEO
NNRG.NEO Risk / Return Rank: 7979
Overall Rank
NNRG.NEO Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
NNRG.NEO Sortino Ratio Rank: 7272
Sortino Ratio Rank
NNRG.NEO Omega Ratio Rank: 7575
Omega Ratio Rank
NNRG.NEO Calmar Ratio Rank: 9292
Calmar Ratio Rank
NNRG.NEO Martin Ratio Rank: 7070
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. NNRG.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 Ninepoint Energy ETF (NNRG.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.TONNRG.NEODifference
Sharpe ratioReturn per unit of total volatility
1.02
2.74

-1.72

Sortino ratioReturn per unit of downside risk
1.54
3.29

-1.75

Omega ratioGain probability vs. loss probability

1.18

1.45

-0.27

Calmar ratioReturn relative to maximum drawdown

1.61

6.21

-4.60

Martin ratioReturn relative to average drawdown

4.29

13.09

-8.80

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. NNRG.NEO - Sharpe Ratio Comparison

The current ZRE.TO Sharpe Ratio is 1.02, which is lower than the NNRG.NEO Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of ZRE.TO and NNRG.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.

Loading charts...

Sharpe Ratios by Period

ZRE.TONNRG.NEODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.02

2.74

-1.72

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.22

0.98

-0.76

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

1.07

-0.55

Drawdowns

ZRE.TO vs. NNRG.NEO - Drawdown Comparison

The maximum ZRE.TO drawdown since its inception was -46.29%, which is greater than NNRG.NEO's maximum drawdown of -35.78%. Use the drawdown chart below to compare losses from any high point for ZRE.TO and NNRG.NEO.

Loading charts...

Drawdown Indicators

ZRE.TONNRG.NEODifference

Max Drawdown

Largest peak-to-trough decline

-46.29%

-35.78%

-10.51%

Max Drawdown (1Y)

Largest decline over 1 year

-7.07%

-10.84%

+3.77%

Max Drawdown (3Y)

Largest decline over 3 years

-17.16%

-23.52%

+6.36%

Max Drawdown (5Y)

Largest decline over 5 years

-32.52%

-35.78%

+3.26%

Max Drawdown (10Y)

Largest decline over 10 years

-46.29%

—

—

Current Drawdown

Current decline from peak

-0.71%

-4.70%

+3.99%

Average Drawdown

Average peak-to-trough decline

-7.74%

-9.58%

+1.84%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.64%

5.13%

-2.49%

Volatility

ZRE.TO vs. NNRG.NEO - Volatility Comparison

The current volatility for BMO Equal Weight REITs Index ETF (ZRE.TO) is 2.83%, while Ninepoint Energy ETF (NNRG.NEO) has a volatility of 10.24%. This indicates that ZRE.TO experiences smaller price fluctuations and is considered to be less risky than NNRG.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

ZRE.TONNRG.NEODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.83%

10.24%

-7.41%

Volatility (6M)

Calculated over the trailing 6-month period

8.39%

20.69%

-12.30%

Volatility (1Y)

Calculated over the trailing 1-year period

11.09%

24.53%

-13.44%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.55%

34.60%

-19.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.68%

34.56%

-16.88%

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

ZRE.TO has a 0.61% expense ratio, which is lower than NNRG.NEO's 1.79% expense ratio.

Dividends

ZRE.TO vs. NNRG.NEO - Dividend Comparison

ZRE.TO's dividend yield for the trailing twelve months is around 4.42%, more than NNRG.NEO's 0.51% yield.

PositionTTM20252024202320222021202020192018201720162015
NNRG.NEO
Ninepoint Energy ETF		0.51%0.37%0.39%0.38%9.08%1.92%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 NNRG.NEO have a correlation of -0.15, 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 1.79% for NNRG.NEO.

ZRE.TO is categorized as REIT, while NNRG.NEO is Energy Equities. ZRE.TO tracks Solactive Equal Weight Canada REIT Index, while NNRG.NEO tracks S&P/TSX Capped Energy Total Return Index. They also come from different issuers: BMO and Ninepoint. Their fees differ too: 0.61% for ZRE.TO and 1.79% for NNRG.NEO.

Portfolio Optimizer

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

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

Open Portfolio Optimizer