A side-by-side comparison of BMO Equal Weight Oil & Gas Index ETF (ZEO) and iShares S&P/TSX Capped Energy Index ETF (XEG) to help Canadian investors make an informed decision.
1-Year Performance
Normalised to 100 at the start — shows relative return over the trailing 12 months.
Head-to-Head Comparison
| Metric | ZEO | XEG |
|---|---|---|
| YTD Return | -99.67% | +58.52%✓ |
| 1-Day Change | -99.77% | -0.23%✓ |
| 1-Week Change | -99.77% | +0.68%✓ |
| 1-Month Change | -99.76% | +11.43%✓ |
| Current Price | $0.27 | $30.99 |
| AUM | $487M | $2.68B✓ |
| MER (Expense Ratio) | 60% | 60% |
| Dividend Yield | 2.93%✓ | 2.37% |
| Distribution Frequency | Quarterly | Quarterly |
| Inception Date | 2009-10-20 | 2001-03-19 |
| Holdings Count | 10 | 10 |
| MorningStar Rating | — | — |
| Category | Energy Equity | Energy Equity |
| Beta | 0.64 | 0.95 |
| 52-Week High | $116.50 | $31.72 |
| 52-Week Low | $74.23 | $17.49 |
| 50-Day MA | $110.98 | $29.19 |
| 200-Day MA | $103.31 | $26.18 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | ZEO | XEG |
|---|---|---|
| YTD | -99.67% | +58.52%✓ |
| 1 Year | +48.67% | +72.35%✓ |
| 3 Year | +25.08% | +25.74%✓ |
| 5 Year | +24.22% | +30.40%✓ |
| 10 Year | +10.83% | +11.63%✓ |
| 1Y Volatility | 19.55% | 28.61% |
| Sharpe Ratio (3Y) | 1.19 | 0.81 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | SU | Suncor Energy Inc | 10.22% |
| 2 | WCP | Whitecap Resources Inc. | 9.53% |
| 3 | CVE | Cenovus Energy Inc | 9.03% |
| 4 | IMO | Imperial Oil Ltd | 9.54% |
| 5 | TOU | Tourmaline Oil Corp. | 8.67% |
| 6 | CNQ | Canadian Natural Resources Ltd | 9.09% |
| 7 | TRP | TC Energy Corp | 8.84% |
| 8 | ENB | Enbridge Inc | 9.15% |
| 9 | PPL | Pembina Pipeline Corp | 8.74% |
| 10 | SOBO | South Bow Corporation | 8.60% |
| 1 | SU | Suncor Energy Inc | 26.80% |
| 2 | CNQ | Canadian Natural Resources Ltd | 23.38% |
| 3 | CVE | Cenovus Energy Inc | 15.26% |
| 4 | IMO | Imperial Oil Ltd | 6.60% |
| 5 | TOU | Tourmaline Oil Corp. | 5.76% |
| 6 | WCP | Whitecap Resources Inc. | 5.26% |
| 7 | PSK | PrairieSky Royalty Ltd | 2.01% |
| 8 | TVE | Tamarack Valley Energy Ltd | 1.66% |
| 9 | ATH | Athabasca Oil Corp | 1.23% |
| 10 | PEY | Peyto Exploration&Development Corp | 1.16% |
Sector Weights
| Sector | ZEO | XEG |
|---|---|---|
| Basic Materials | 0.00% | 0.00% |
| Communication Services | 0.00% | 0.00% |
| Consumer Cyclicals | 0.00% | 0.00% |
| Consumer Defensive | 0.00% | 0.00% |
| Energy | 100.00% | 100.00% |
| Financial Services | 0.00% | 0.00% |
| Healthcare | 0.00% | 0.00% |
| Industrials | 0.00% | 0.00% |
| Real Estate | 0.00% | 0.00% |
| Technology | 0.00% | 0.00% |
| Utilities | 0.00% | 0.00% |
About ZEO
The BMO Equal Weight Oil and Gas Index ETF has been designed to replicate, to the extent possible, the performance of the Solactive Equal Weight Canada Oil and Gas Index, net of expenses. The Fund invests in and holds the Constituent Securities of the Index in the same proportion as they are reflected in the Index.
About XEG
iShares S&P/TSX Capped Energy Index ETF (XEG.TO) is a Canadian-listed ETF traded on the Toronto Stock Exchange. More detailed information will be available soon.
Which ETF is Right for You?
Both ZEO and XEG are listed on Canadian exchanges and accessible through most Canadian brokerages including Questrade, Wealthsimple Trade, TD Direct, and Interactive Brokers.
Based on the available data, XEG scores higher across our tracked metrics including YTD performance, dividend yield, and AUM — though both ETFs warrant individual research before investing.
- Consider your account type (TFSA, RRSP, non-registered) as it can affect dividend taxation.
- Compare management expense ratios (MER) directly on each provider's website.
- Look at average daily trading volume to assess liquidity.
- Review the fund's underlying index and holdings to ensure the exposure matches your goals.
This is not financial advice. Always do your own research or consult a licensed financial advisor before investing.
Frequently Asked Questions
What is the difference between ZEO and XEG?
ZEO (BMO Equal Weight Oil & Gas Index ETF) and XEG (iShares S&P/TSX Capped Energy Index ETF) are both Canadian-listed ETFs. Key differences include their AUM ($487M vs $2.68B), dividend yield (2.93% vs 2.37%), and year-to-date performance (-99.67% vs +58.52%).
Is ZEO better than XEG?
There is no single "better" ETF — it depends on your investment goals. If you prioritise dividends, compare both yields and choose based on your income needs. Always review the fund's prospectus and consider your tax situation.
Can I buy ZEO and XEG on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both ZEO and XEG should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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