The Canadian oil and gas sector have passed through a rollercoaster year in 2022. Indeed, investors have navigated a historically volatile environment since this decade kicked off. We have been offered few periods of respite. Fortunately, recent OPEC production cuts offer hope for renewed momentum in the oil and gas sector. Canadian investors should take notice.

Investors who are seeking access to this sector may want to consider the BMO Oil and Gas ETF (TSX:ZEO) in late October 2022. This exchange-traded fund (ETF) seeks to replicate the performance of an equal weight Canadian large-cap oil and gas companies index, net of expenses. In the Fund Facts, BMO lists this as a high-risk fund due to its exposure to a historically volatile sector.

This fund’s portfolio allocation currently shows 39% in Integrated Oil and Gas, 37% in Oil and Gas Storage and Transportation, and 23% in Oil and Gas Exploration and Production. Investors should be familiar with some of the top names in this fund. Some of the top holdings include Cenovus Energy, a Calgary-based integrated oil and natural gas company. Suncor Energy and Imperial Oil round out the top three stock holdings in this fund. Both stocks have performed very well in 2022 and both offer nice value and dividend income at the time of this writing.

Shares of the BMO Oil and Gas ETF have climbed 35% in 2022 as of close on October 26. It is up 37% year over year. This ETF is worth snatching up as the oil and gas sector looks poised for a rebound.