ZXLK.TO vs. VEQT.TO

Last updated Jul 11, 2026

ZXLK.TO (BMO SPDR Technology Select Sector Index ETF) and VEQT.TO (Vanguard All-Equity ETF Portfolio) are both exchange-traded funds - ZXLK.TO is a Technology Equities fund tracking the Technology Select Sector Index, while VEQT.TO is a Global Equities fund actively managed by Vanguard. ZXLK.TO is passively managed, while VEQT.TO is actively managed. Over the past year, ZXLK.TO returned 35.43% vs 29.52% for VEQT.TO. A 0.52 correlation means they provide meaningful diversification when combined. ZXLK.TO charges 0.21%/yr vs 0.24%/yr for VEQT.TO.

Performance

ZXLK.TO vs. VEQT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO SPDR Technology Select Sector Index ETF (ZXLK.TO) and Vanguard All-Equity ETF Portfolio (VEQT.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZXLK.TO achieves a 32.53% return, which is significantly higher than VEQT.TO's 14.88% return.

ZXLK.TO

• 1D: 0.15%
• 1M: 3.13%
• 6M: 30.11%
• YTD: 32.53%
• 1Y: 35.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VEQT.TO

• 1D: 0.28%
• 1M: 2.83%
• 6M: 10.85%
• YTD: 14.88%
• 1Y: 29.52%
• 3Y*: 22.79%
• 5Y*: 13.73%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ZXLK.TO vs. VEQT.TO - Yearly Performance Comparison

	2026 (YTD)	2025
ZXLK.TO BMO SPDR Technology Select Sector Index ETF	32.53%	9.84%
VEQT.TO Vanguard All-Equity ETF Portfolio	14.88%	17.69%

Correlation

The correlation between ZXLK.TO and VEQT.TO is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (All Time) Calculated using the full available price history since Feb 25, 2025	0.52

The correlation between ZXLK.TO and VEQT.TO shifts across timeframes, from 0.52 (all time) to 0.63 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

ZXLK.TO vs. VEQT.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ZXLK.TO

ZXLK.TO Risk / Return Rank: 41
ZXLK.TO Sharpe Ratio Rank: 48
ZXLK.TO Sortino Ratio Rank: 41
ZXLK.TO Omega Ratio Rank: 51
ZXLK.TO Calmar Ratio Rank: 34
ZXLK.TO Martin Ratio Rank: 29

VEQT.TO

VEQT.TO Risk / Return Rank: 88
VEQT.TO Sharpe Ratio Rank: 90
VEQT.TO Sortino Ratio Rank: 89
VEQT.TO Omega Ratio Rank: 88
VEQT.TO Calmar Ratio Rank: 84
VEQT.TO Martin Ratio Rank: 89

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.

ZXLK.TO vs. VEQT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO SPDR Technology Select Sector Index ETF (ZXLK.TO) and Vanguard All-Equity ETF Portfolio (VEQT.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ZXLK.TO	VEQT.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.34	2.37	-1.03
Sortino ratio: Return per unit of downside risk	1.72	3.25	-1.53
Omega ratio: Gain probability vs. loss probability	1.26	1.43	-0.17
Calmar ratio: Return relative to maximum drawdown	1.40	3.63	-2.23
Martin ratio: Return relative to average drawdown	3.38	15.57	-12.19

ZXLK.TO vs. VEQT.TO - Sharpe Ratio Comparison

The current ZXLK.TO Sharpe Ratio is 1.34, which is lower than the VEQT.TO Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of ZXLK.TO and VEQT.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ZXLK.TO vs. VEQT.TO - Drawdown Comparison

The maximum ZXLK.TO drawdown since its inception was -25.04%, smaller than the maximum VEQT.TO drawdown of -30.45%. Use the drawdown chart below to compare losses from any high point for ZXLK.TO and VEQT.TO.

Drawdown Indicators

	ZXLK.TO	VEQT.TO	Difference
Max Drawdown Largest peak-to-trough decline	-25.04%	-30.45%	+5.41%
Max Drawdown (1Y) Largest decline over 1 year	-25.04%	-8.05%	-16.99%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.46%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.32%	—
Current Drawdown Current decline from peak	-3.87%	-0.48%	-3.39%
Average Drawdown Average peak-to-trough decline	-6.97%	-3.67%	-3.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.37%	1.87%	+8.50%

Volatility

ZXLK.TO vs. VEQT.TO - Volatility Comparison

BMO SPDR Technology Select Sector Index ETF (ZXLK.TO) has a higher volatility of 11.09% compared to Vanguard All-Equity ETF Portfolio (VEQT.TO) at 3.65%. This indicates that ZXLK.TO's price experiences larger fluctuations and is considered to be riskier than VEQT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZXLK.TO	VEQT.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.09%	3.65%	+7.44%
Volatility (6M) Calculated over the trailing 6-month period	20.45%	10.19%	+10.26%
Volatility (1Y) Calculated over the trailing 1-year period	26.30%	12.34%	+13.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.03%	13.03%	+18.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.03%	15.76%	+15.27%

ZXLK.TO vs. VEQT.TO - Expense Ratio Comparison

ZXLK.TO has a 0.21% expense ratio, which is lower than VEQT.TO's 0.24% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ZXLK.TO vs. VEQT.TO - Dividend Comparison

ZXLK.TO's dividend yield for the trailing twelve months is around 0.23%, less than VEQT.TO's 1.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
VEQT.TO Vanguard All-Equity ETF Portfolio	1.23%	1.42%	1.58%	1.88%	2.09%	1.40%	1.48%	1.43%
ZXLK.TO BMO SPDR Technology Select Sector Index ETF	0.23%	0.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ZXLK.TO and VEQT.TO in my portfolio?

ZXLK.TO and VEQT.TO have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZXLK.TO or VEQT.TO?

On fees, ZXLK.TO is cheaper at 0.21% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZXLK.TO or VEQT.TO?

ZXLK.TO is cheaper with a 0.21% expense ratio, compared with 0.24% for VEQT.TO.

What is the main difference between ZXLK.TO and VEQT.TO?

ZXLK.TO is categorized as Technology Equities, while VEQT.TO is Global Equities. They also come from different issuers: BMO and Vanguard. Their fees differ too: 0.21% for ZXLK.TO and 0.24% for VEQT.TO.