ZEQT is BMO's 100% equity one-ticket — same allocation strategy as XEQT and VEQT, at a 0.20% MER tied with XEQT. Launched 2022 (later than its competitors), so the AUM is smaller. But for BMO InvestorLine clients, ZEQT trades commission-free — making it the cheapest 100% equity one-ticket they can use.
ZEQT is the BMO-stack version of XEQT. Same 0.20% MER, same allocation strategy, free trades at BMO IL. For BMO clients, ZEQT wins. For everyone else, XEQT or VEQT are equally good — and have more AUM + longer track records.