TSX · CAD · ETF

BMO Emerging Market Bond Hedged to CAD Index ETF (ZEF.TO) ETF Analysis

ZEF.TO

Expense ratio 0.56% Yield 4.33% Assets CA$756.08M Since May 21, 2010 Family BMO Asset Management Inc

Last Updated: October 21, 2026

CA$11.91

−CA$0.01 (−0.08%)

October 21, 2026 · Market close

Compare

Price History

Hover for the daily close. The dotted line marks the period open.

Compare ZEF.TO with… →

ZEF.TO Annualized Returns

With dividends reinvested · as of October 21, 2026

Period	Total return	Annualized	CA$100 becomes	CA$300 becomes
1 year	−1.72%	−1.72%	CA$98.28	CA$294.85
3 years	+19.11%	+6.00%	CA$119.11	CA$357.34
5 years	−1.23%	−0.25%	CA$98.77	CA$296.30
10 years	+7.12%	+0.69%	CA$107.12	CA$321.36

Returns are total returns computed from daily closes, with dividends reinvested. As of October 21, 2026.

ZEF.TO Return by Calendar Year

2016 and 2026 are partial years

−17.34%+8.55%−1.99%

2016*2017201820192020202120222023202420252026*

View as table ↓View as chart ↑

Year	Return
2026 (partial year)	−1.99%
2025	+7.70%
2024	+4.06%
2023	+8.55%
2022	−17.34%
2021	−1.38%
2020	+4.96%
2019	+7.57%
2018	−3.87%
2017	+4.85%
2016 (partial year)	−3.24%

ZEF.TO Monthly Returns

−12%+8%

Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	+0.7	+0.8	−2.5	+1.6	+0.1	+0.1	−0.6	+0.0	−3.0	+0.9	—	—
2025	+1.2	+1.7	−0.3	+0.1	+0.0	+1.5	+0.4	+1.2	−0.2	+1.6	+0.9	−0.7
2024	−0.0	+0.3	+1.9	−1.3	+1.0	+0.2	+2.0	+1.8	+1.3	−2.1	+0.6	−1.6
2023	+2.1	−2.1	+2.1	+0.6	−1.4	+1.4	+1.7	−1.0	−2.3	+0.1	+4.1	+3.1
2022	−3.2	−4.1	−3.5	−2.7	−1.2	−2.3	+1.2	+0.2	−6.5	−1.0	+4.1	+0.6
2021	−0.2	−1.2	−1.3	+1.2	+1.0	+0.5	−0.1	+0.9	−2.1	+0.1	−1.5	+1.4
2020	+0.8	−0.7	−12.0	+7.4	+3.6	+1.6	+2.3	+0.2	+0.0	−1.0	+2.9	+0.9
2019	+3.4	−0.6	+1.0	−0.0	+0.5	+2.5	−0.3	−1.8	−0.4	+0.7	+0.3	+2.1
2018	−0.8	−1.6	+0.8	−1.1	−1.3	−1.2	+1.6	−3.1	+2.2	−1.6	+0.0	+2.3
2017	+1.6	+1.2	−0.1	+1.6	+0.3	−0.9	+0.7	+1.4	−0.4	+0.0	−1.1	+0.5

Monthly total returns with dividends reinvested; each cell prints its signed value.

ZEF.TO Volatility & Risk

Volatility: 10 yrs · Beta: 3 yrs

Annualized volatility: 9.77%
Beta (3y): 0.41
Best year: +8.55%
Worst year: −17.34%

Volatility is the annualized standard deviation of daily returns. As of October 21, 2026.

Analysis

Data-derived

Fund Overview

BMO Emerging Market Bond Hedged to CAD Index ETF (ZEF.TO) is an exchange-traded fund. BMO Asset Management Inc is the fund family on file. It has been trading since May 21, 2010. The fund holds CA$756.08M in total net assets. Annual costs run at an expense ratio of 0.56%. On a CA$10,000 position that is CA$56.00 a year.

Performance Analysis

The most recent close on file for ZEF.TO is CA$11.91, dated October 21, 2026. The trailing one-year total return is −1.72%. Across 10 years the annualized return works out at +0.69%. The fund distributes at a trailing yield of 4.33%.

The strongest complete calendar year on file is 2023 at +8.55%; the weakest is 2022 at −17.34%. Of the 9 complete calendar years on file, 6 finished higher. So far in 2026 the total return is −1.99%.

Price & Risk Profile

The 52-week range on file runs from CA$11.79 to CA$12.78. The latest close sits 1.02% above that 52-week low. Annualized volatility over the trailing 10 years is 9.77%. Beta against the wider market is reported at 0.41. The volatility figure is calculated from the stored daily closes, the same series the charts on this page use.

Every figure above is read from this page's own data on each daily rebuild. Informational only, not financial advice. As of October 21, 2026.

More BMO Asset Management Inc ETFs

ZCN.TO

BMO S&P/TSX Capped Composite Index ETF

CA$18.07B

ZEA.TO

BMO MSCI EAFE Index ETF

CA$13.69B

ZAG.TO

BMO Aggregate Bond Index ETF

CA$12.92B

ZEB.TO

BMO Equal Weight Banks Index ETF

CA$7.52B

ZUE.TO

BMO S&P 500 Hedged to CAD Index ETF

CA$4.89B

ZCS.TO

BMO Short Corporate Bond Index ETF

CA$4.66B