BMO Equal Weight Oil & Gas Index ETF
ZEO.TO
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- BMO Equal Weight Oil & Gas Index ETF (ZEO.TO) is an exchange-traded fund that seeks to replicate, to the extent possible, the performance of the Solactive Equal Weight Canada Oil & Gas Index, net of expenses; the index comprises an equal-weighted portfolio of securities from Canadian large-cap oil and gas companies, subject to minimum market capitalization and liquidity screens. The ETF invests in and holds the constituent securities of the index in the same proportion as reflected therein, or uses a sampling methodology; it may also employ other securities to obtain exposure to the index; primary holdings as of December 31, 2024, include ARC Resources Ltd., Tourmaline Oil Corp., Enbridge Inc., Keyera Corp., TC Energy Corp., Suncor Energy Inc., Canadian Natural Resources Ltd., Cenovus Energy Inc., Imperial Oil Ltd., and MEG Energy Corp., representing approximately 90.6% of the portfolio across oil & gas storage & transportation (37.0%), oil & gas exploration & production (36.7%), and integrated oil & gas (26.0%) segments. ZEO.TO, managed by BMO Asset Management Inc., an indirect subsidiary of Bank of Montreal, was launched on October 20, 2009, with headquarters in Toronto, Ontario; it trades on the Toronto Stock Exchange in Canadian dollars, targeting investors seeking equity growth through exposure to the Canadian oil and gas sector. In September 2017, the ETF underwent a name change from BMO S&P/TSX Equal Weight Oil & Gas Index ETF and shifted its underlying index from the S&P/TSX Equal Weight Oil & Gas Index to the Solactive Equal Weight Canada Oil & Gas Index to better align with its investment objective; its investment risk rating was elevated from medium-to-high to high on January 17, 2022; as of December 31, 2024, total net assets stood at $210.7 million CAD, with a management expense ratio of 0.60% and quarterly distributions. The ETF operates exclusively within Canada, focusing on domestic energy equities for institutional and retail investors comfortable with high volatility.