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Compare BMO Equal Weight Oil & Gas Index ETF (ZEO) vs iShares S&P/TSX Capped Energy Index ETF (XEG) to find the best fit for your portfolio. ZEO provides Energy exposures, while XEG is primarily weighted in Energy, Finance, and Non-Energy Materials. When evaluating costs, ZEO features a management fee (MER) of 0.55%, compared to 0.55% for XEG. Performance-wise, ZEO has returned 41.99% year-to-date with +$138 M in net flows, whereas XEG is at 48.62% with +$2 M. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.
NAV Performance and Flows
Key Data
Compare
ZEO
XEG
| AuM | $469.27 M | $2,315.06 M |
| Management Fees | 0.55% | 0.55% |
| Exp. ratio | 0.60% | 0.60% |
| Tracking Difference | -0.97% | 4.73% |
Historical performance and flows
As of August 17, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZEO | +3.20% | -0.04% | +41.99% | +53.26% | +96.24% |
XEG | +7.79% | -1.26% | +48.62% | +70.66% | +91.13% | |
| Flows | ZEO | +$25 M | +$99 M | +$138 M | +$134 M | +$106 M |
XEG | -$270 M | -$83 M | +$2 M | -$118 M | -$656 M |
ZEO vs XEG exposure
Countries
ZEO
Canada
100.00%
XEG
Canada
99.59%
Sectors
ZEO
Energy
100.00%
XEG
Energy
94.69%
As of August 17, 2026
Top 10 Holdings
ZEO
Cenovus Energy, Inc.
9.10%
ARC Resources Ltd.
8.92%
TC Energy Corp.
8.85%
South Bow Corp.
8.83%
Keyera Corp.
8.64%
Pembina Pipeline Corp.
8.63%
Whitecap Resources, Inc.
8.55%
Enbridge, Inc.
8.43%
Imperial Oil Ltd.
7.89%
Suncor Energy, Inc.
7.80%
XEG
Canadian Natural Resources Ltd.
24.49%
Suncor Energy, Inc.
24.22%
Cenovus Energy, Inc.
12.77%
Imperial Oil Ltd.
6.42%
Tourmaline Oil Corp.
5.88%
Whitecap Resources, Inc.
4.81%
ARC Resources Ltd.
4.54%
PrairieSky Royalty Ltd.
1.98%
Tamarack Valley Energy Ltd.
1.61%
Athabasca Oil Corp.
1.33%
Diversification
ZEO
Total weight of top 10 holdings out of 12 total
85.64%
XEG
Total weight of top 10 holdings out of 27 total
88.05%
Characteristics
Compare
ZEO
XEG
| Provider | BMO | iShares |
| Management | Passively managed | Passively managed |
| Benchmark | Solactive Equal Weight Canada Oil & Gas Index - CAD | S&P/TSX Capped Energy Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.65% | 2.48% |
| Meets ESG criteria | No | No |
| Inception Date | October 20, 2009 | March 19, 2001 |
Frequently asked questions about ZEO and XEG
Which ETF has performed better year to date: ZEO or XEG?
As of August 17, 2026, ZEO has returned 41.99% year to date, while XEG has returned 48.62%. XEG is ahead on YTD performance.
Which ETF is larger by assets under management: ZEO or XEG?
As of August 17, 2026, ZEO manages $469.27 M in assets, while XEG manages $2.32 B. XEG is the larger fund by AUM.
How are ZEO and XEG managed?
ZEO is passively managed by BMO. It tracks the Solactive Equal Weight Canada Oil & Gas Index - CAD benchmark. XEG is passively managed by iShares. It tracks the S&P/TSX Capped Energy Index - CAD benchmark.
What sectors do ZEO and XEG emphasize?
ZEO is most exposed to Energy. XEG is most exposed to Energy, Finance, and Non-Energy Materials.
Which ETF is attracting more investor flows: ZEO or XEG?
Year to date, ZEO has seen +$138.31 M in net flows, compared with +$2.45 M for XEG. ZEO has attracted more net investor money so far.
How do the fees of ZEO and XEG compare?
ZEO has an expense ratio of 0.60%, while XEG has an expense ratio of 0.60%.
What are the top holdings of ZEO and XEG?
ZEO's largest holdings include Cenovus Energy, Inc., ARC Resources Ltd., and TC Energy Corp.. XEG's top holdings include Canadian Natural Resources Ltd., Suncor Energy, Inc., and Cenovus Energy, Inc..
Which ETF is more diversified: ZEO or XEG?
ZEO holds 12 securities, while XEG holds 27. On holdings count, XEG is the more diversified portfolio.
Recent articles about ZEO and XEG
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