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ZSP-U.TO vs. EQLI.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ZSP-U.TO vs. EQLI.TO

Last updated Apr 1, 2026

Compare and contrast key facts about BMO S&P 500 Index ETF (USD) (ZSP-U.TO) and Invesco S&P 500 Equal Weight Income Advantage ETF (EQLI.TO).

ZSP-U.TO and EQLI.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZSP-U.TO is a passively managed fund by BMO that tracks the performance of the S&P 500 Index. It was launched on Nov 14, 2012. EQLI.TO is a passively managed fund by Invesco that tracks the performance of the S&P 500 Equal Weight Index. It was launched on Nov 6, 2025. Both ZSP-U.TO and EQLI.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ZSP-U.TO vs. EQLI.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BMO S&P 500 Index ETF (USD) (ZSP-U.TO) and Invesco S&P 500 Equal Weight Income Advantage ETF (EQLI.TO). The values are adjusted to include any dividend payments, if applicable.

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ZSP-U.TO vs. EQLI.TO - Yearly Performance Comparison

2026 (YTD)20252024
ZSP-U.TO
BMO S&P 500 Index ETF (USD)		-4.68%16.84%4.96%
EQLI.TO
Invesco S&P 500 Equal Weight Income Advantage ETF		0.74%11.50%1.30%
Different Trading Currencies

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

Returns By Period

In the year-to-date period, ZSP-U.TO achieves a -4.68% return, which is significantly lower than EQLI.TO's 0.74% return.

ZSP-U.TO

1D
2.85%
1M
-5.28%
YTD
-4.68%
6M
-2.37%
1Y
16.49%
3Y*
17.31%
5Y*
10.97%
10Y*
13.22%

EQLI.TO

1D
1.87%
1M
-4.51%
YTD
0.74%
6M
2.96%
1Y
12.31%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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

BMO S&P 500 Index ETF (USD)

Invesco S&P 500 Equal Weight Income Advantage ETF

Often compared with ZSP-U.TO:
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Often compared with EQLI.TO:
EQLI.TO vs. HIU.TOEQLI.TO vs. INAI.TOEQLI.TO vs. INTY.TOEQLI.TO vs. BCCL.NEOEQLI.TO vs. CRCY.TOEQLI.TO vs. ESG.TOEQLI.TO vs. JEPI.TO

ZSP-U.TO vs. EQLI.TO - Expense Ratio Comparison

ZSP-U.TO has a 0.09% expense ratio, which is lower than EQLI.TO's 0.29% expense ratio.

EQLI.TO
Invesco S&P 500 Equal Weight Income Advantage ETF
ZSP-U.TO
BMO S&P 500 Index ETF (USD)

Return for Risk

ZSP-U.TO vs. EQLI.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZSP-U.TO
ZSP-U.TO Risk / Return Rank: 5555
Overall Rank
ZSP-U.TO Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
ZSP-U.TO Sortino Ratio Rank: 5151
Sortino Ratio Rank
ZSP-U.TO Omega Ratio Rank: 5656
Omega Ratio Rank
ZSP-U.TO Calmar Ratio Rank: 5353
Calmar Ratio Rank
ZSP-U.TO Martin Ratio Rank: 6565
Martin Ratio Rank
EQLI.TO
EQLI.TO Risk / Return Rank: 3232
Overall Rank
EQLI.TO Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
EQLI.TO Sortino Ratio Rank: 3030
Sortino Ratio Rank
EQLI.TO Omega Ratio Rank: 3131
Omega Ratio Rank
EQLI.TO Calmar Ratio Rank: 3131
Calmar Ratio Rank
EQLI.TO Martin Ratio Rank: 3535
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.

ZSP-U.TO vs. EQLI.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO S&P 500 Index ETF (USD) (ZSP-U.TO) and Invesco S&P 500 Equal Weight Income Advantage ETF (EQLI.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.

ZSP-U.TOEQLI.TODifference

Sharpe ratio

Return per unit of total volatility

0.92

0.88

+0.04

Sortino ratio

Return per unit of downside risk

1.40

1.33

+0.07

Omega ratio

Gain probability vs. loss probability

1.21

1.19

+0.03

Calmar ratio

Return relative to maximum drawdown

1.42

1.07

+0.34

Martin ratio

Return relative to average drawdown

6.68

5.49

+1.18

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

ZSP-U.TO vs. EQLI.TO - Sharpe Ratio Comparison

The current ZSP-U.TO Sharpe Ratio is 0.92, which is comparable to the EQLI.TO Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of ZSP-U.TO and EQLI.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

ZSP-U.TOEQLI.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.92

0.88

+0.04

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.66

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.78

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.85

0.66

+0.19

Correlation

The correlation between ZSP-U.TO and EQLI.TO is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

ZSP-U.TO vs. EQLI.TO - Dividend Comparison

ZSP-U.TO has not paid dividends to shareholders, while EQLI.TO's dividend yield for the trailing twelve months is around 8.67%.

TTM20252024202320222021202020192018201720162015
ZSP-U.TO
BMO S&P 500 Index ETF (USD)		0.00%0.14%0.71%0.98%1.13%0.91%1.02%1.07%1.26%1.22%1.43%1.29%
EQLI.TO
Invesco S&P 500 Equal Weight Income Advantage ETF		8.67%8.74%3.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

ZSP-U.TO vs. EQLI.TO - Drawdown Comparison

The maximum ZSP-U.TO drawdown since its inception was -33.72%, which is greater than EQLI.TO's maximum drawdown of -16.36%. Use the drawdown chart below to compare losses from any high point for ZSP-U.TO and EQLI.TO.

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Drawdown Indicators

ZSP-U.TOEQLI.TODifference

Max Drawdown

Largest peak-to-trough decline

-33.72%

-15.57%

-18.15%

Max Drawdown (1Y)

Largest decline over 1 year

-12.08%

-12.16%

+0.08%

Max Drawdown (5Y)

Largest decline over 5 years

-24.88%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-33.72%

—

—

Current Drawdown

Current decline from peak

-6.59%

-3.03%

-3.56%

Average Drawdown

Average peak-to-trough decline

-3.99%

-2.64%

-1.35%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.56%

3.05%

-0.49%

Volatility

ZSP-U.TO vs. EQLI.TO - Volatility Comparison

BMO S&P 500 Index ETF (USD) (ZSP-U.TO) has a higher volatility of 5.32% compared to Invesco S&P 500 Equal Weight Income Advantage ETF (EQLI.TO) at 3.74%. This indicates that ZSP-U.TO's price experiences larger fluctuations and is considered to be riskier than EQLI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZSP-U.TOEQLI.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.32%

3.74%

+1.58%

Volatility (6M)

Calculated over the trailing 6-month period

9.50%

7.27%

+2.23%

Volatility (1Y)

Calculated over the trailing 1-year period

18.03%

14.11%

+3.92%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.81%

12.73%

+4.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.77%

12.73%

+5.04%