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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 and XEG provide the same top sector exposures: Energy. When evaluating costs, ZEO features a management fee (MER) of 0.55%, compared to 0.55% for XEG. Performance-wise, ZEO has returned 39.13% year-to-date with +$40 M in net flows, whereas XEG is at 47.13% with +$86 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 | $361.41 M | $2,376.34 M |
| Management Fees | 0.55% | 0.55% |
| Exp. ratio | 0.60% | 0.60% |
| Tracking Difference | -1.00% | 5.93% |
Historical performance and flows
As of May 15, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZEO | +13.13% | +21.34% | +39.13% | +56.74% | +109.02% |
XEG | +10.88% | +24.99% | +47.13% | +75.73% | +116.74% | |
| Flows | ZEO | -$15 M | +$42 M | +$40 M | +$46 M | -$1 M |
XEG | -$163 M | +$314 M | +$86 M | -$203 M | -$792 M |
ZEO vs XEG exposure
Countries
ZEO
Canada
100.00%
XEG
Canada
99.62%
Sectors
ZEO
Energy
92.01%
Other
7.99%
XEG
Energy
99.17%
As of May 15, 2026
Top 10 Holdings
ZEO
CENOVUS ENERGY
9.16%
SUNCOR ENERGY
9.07%
WHITECAP RESOURCES
8.62%
ARC RESOURCES
8.60%
IMPERIAL OIL
8.57%
CDN NATURAL RESOURCE
8.33%
TOURMALINE OIL
8.29%
CA83671M1059
7.99%
PEMBINA PIPELINE
7.92%
KEYERA
7.88%
XEG
SUNCOR ENERGY
26.38%
CDN NATURAL RESOURCE
23.98%
CENOVUS ENERGY
12.23%
IMPERIAL OIL
6.69%
TOURMALINE OIL
5.99%
WHITECAP RESOURCES
4.66%
ARC RESOURCES
4.05%
PRAIRIESKY ROYALTY
1.83%
TAMARACK VALLEY ENERGY
1.37%
PEYTO EXPLORATION DEVELOPMENT
1.36%
Diversification
ZEO
Total weight of top 10 holdings out of 12 total
84.43%
XEG
Total weight of top 10 holdings out of 26 total
88.55%
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 | 2.56% | 2.60% |
| 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 May 15, 2026, ZEO has returned 39.13% year to date, while XEG has returned 47.13%. XEG is ahead on YTD performance.
Which ETF is larger by assets under management: ZEO or XEG?
As of May 15, 2026, ZEO manages $361.41 M in assets, while XEG manages $2.38 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.
Which ETF is attracting more investor flows: ZEO or XEG?
Year to date, ZEO has seen +$39.79 M in net flows, compared with +$85.85 M for XEG. XEG 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, SUNCOR ENERGY, and WHITECAP RESOURCES. XEG's top holdings include SUNCOR ENERGY, CDN NATURAL RESOURCE, and CENOVUS ENERGY.
Which ETF is more diversified: ZEO or XEG?
ZEO holds 12 securities, while XEG holds 26. On holdings count, XEG is the more diversified portfolio.
Recent articles about ZEO and XEG
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All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.