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ZWEN.TO vs. ZEO.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ZWEN.TO vs. ZEO.TO

Last updated Apr 1, 2026

Compare and contrast key facts about BMO Covered Call Energy ETF (ZWEN.TO) and BMO Equal Weight Oil & Gas Index ETF (ZEO.TO).

ZWEN.TO and ZEO.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZWEN.TO is an actively managed fund by BMO. It was launched on Jan 23, 2023. ZEO.TO is a passively managed fund by BMO that tracks the performance of the Solactive Equal Weight Canada Oil & Gas Index. It was launched on Oct 20, 2009.

Performance

ZWEN.TO vs. ZEO.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Covered Call Energy ETF (ZWEN.TO) and BMO Equal Weight Oil & Gas Index ETF (ZEO.TO). The values are adjusted to include any dividend payments, if applicable.

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ZWEN.TO vs. ZEO.TO - Yearly Performance Comparison

2026 (YTD)202520242023
ZWEN.TO
BMO Covered Call Energy ETF		31.77%6.74%10.43%2.68%
ZEO.TO
BMO Equal Weight Oil & Gas Index ETF		31.54%12.35%21.51%3.16%

Returns By Period

The year-to-date returns for both stocks are quite close, with ZWEN.TO having a 31.77% return and ZEO.TO slightly lower at 31.54%.

ZWEN.TO

1D
-0.75%
1M
12.19%
YTD
31.77%
6M
30.76%
1Y
29.50%
3Y*
18.70%
5Y*
—
10Y*
—

ZEO.TO

1D
-0.72%
1M
11.04%
YTD
31.54%
6M
30.73%
1Y
39.53%
3Y*
25.68%
5Y*
27.86%
10Y*
11.55%
*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 Covered Call Energy ETF

BMO Equal Weight Oil & Gas Index ETF

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Often compared with ZEO.TO:
ZEO.TO vs. XEG.TOZEO.TO vs. NRGY.TOZEO.TO vs. XLEZEO.TO vs. ENCC.TOZEO.TO vs. VOOZEO.TO vs. HXT.TOZEO.TO vs. VFV.TO

ZWEN.TO vs. ZEO.TO - Expense Ratio Comparison

ZWEN.TO has a 0.88% expense ratio, which is higher than ZEO.TO's 0.60% expense ratio.

ZWEN.TO
BMO Covered Call Energy ETF
ZEO.TO
BMO Equal Weight Oil & Gas Index ETF

Return for Risk

ZWEN.TO vs. ZEO.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZWEN.TO
ZWEN.TO Risk / Return Rank: 6767
Overall Rank
ZWEN.TO Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
ZWEN.TO Sortino Ratio Rank: 6969
Sortino Ratio Rank
ZWEN.TO Omega Ratio Rank: 7474
Omega Ratio Rank
ZWEN.TO Calmar Ratio Rank: 6565
Calmar Ratio Rank
ZWEN.TO Martin Ratio Rank: 4949
Martin Ratio Rank
ZEO.TO
ZEO.TO Risk / Return Rank: 8787
Overall Rank
ZEO.TO Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
ZEO.TO Sortino Ratio Rank: 8989
Sortino Ratio Rank
ZEO.TO Omega Ratio Rank: 9292
Omega Ratio Rank
ZEO.TO Calmar Ratio Rank: 8383
Calmar Ratio Rank
ZEO.TO Martin Ratio Rank: 8080
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.

ZWEN.TO vs. ZEO.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Covered Call Energy ETF (ZWEN.TO) and BMO Equal Weight Oil & Gas Index ETF (ZEO.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.

ZWEN.TOZEO.TODifference

Sharpe ratio

Return per unit of total volatility

1.41

2.04

-0.63

Sortino ratio

Return per unit of downside risk

1.78

2.49

-0.70

Omega ratio

Gain probability vs. loss probability

1.28

1.40

-0.12

Calmar ratio

Return relative to maximum drawdown

1.67

2.33

-0.66

Martin ratio

Return relative to average drawdown

4.78

8.63

-3.85

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

ZWEN.TO vs. ZEO.TO - Sharpe Ratio Comparison

The current ZWEN.TO Sharpe Ratio is 1.41, which is lower than the ZEO.TO Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of ZWEN.TO and ZEO.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

ZWEN.TOZEO.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.41

2.04

-0.63

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

1.34

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.43

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.90

0.00

+0.90

Correlation

The correlation between ZWEN.TO and ZEO.TO is 0.77, 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

ZWEN.TO vs. ZEO.TO - Dividend Comparison

ZWEN.TO's dividend yield for the trailing twelve months is around 7.38%, more than ZEO.TO's 2.71% yield.

TTM20252024202320222021202020192018201720162015
ZWEN.TO
BMO Covered Call Energy ETF		7.38%9.53%9.09%8.27%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
ZEO.TO
BMO Equal Weight Oil & Gas Index ETF		2.71%3.42%3.86%4.82%4.69%3.27%5.54%3.55%3.57%2.46%2.50%4.09%

Drawdowns

ZWEN.TO vs. ZEO.TO - Drawdown Comparison

The maximum ZWEN.TO drawdown since its inception was -18.75%, smaller than the maximum ZEO.TO drawdown of -100.25%. Use the drawdown chart below to compare losses from any high point for ZWEN.TO and ZEO.TO.

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Drawdown Indicators

ZWEN.TOZEO.TODifference

Max Drawdown

Largest peak-to-trough decline

-18.75%

-100.25%

+81.50%

Max Drawdown (1Y)

Largest decline over 1 year

-18.75%

-17.62%

-1.13%

Max Drawdown (5Y)

Largest decline over 5 years

—

-22.59%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-72.03%

—

Current Drawdown

Current decline from peak

-1.02%

-0.85%

-0.17%

Average Drawdown

Average peak-to-trough decline

-4.37%

-49.97%

+45.60%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.54%

4.75%

+1.79%

Volatility

ZWEN.TO vs. ZEO.TO - Volatility Comparison

BMO Covered Call Energy ETF (ZWEN.TO) has a higher volatility of 4.12% compared to BMO Equal Weight Oil & Gas Index ETF (ZEO.TO) at 3.66%. This indicates that ZWEN.TO's price experiences larger fluctuations and is considered to be riskier than ZEO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZWEN.TOZEO.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.12%

3.66%

+0.46%

Volatility (6M)

Calculated over the trailing 6-month period

10.83%

11.59%

-0.76%

Volatility (1Y)

Calculated over the trailing 1-year period

21.06%

19.50%

+1.56%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.76%

20.93%

-3.17%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.76%

27.23%

-9.47%