Canadian energy stocks put together a terrific performance in the first half of 2022. The sector was bolstered by soaring oil and gas prices. WTI Crude surged above US$120/barrel in the late spring of 2022 and Western Canadian Select (WCS) climbed into the triple-digit price range in early March. That momentum petered out in the face of rising interest rates, increased production, and fears of an economic downturn.

Fortunately, it is not too late for Canadians to take profits in top energy stocks. Investors who opted for broader exposure through an exchange-traded fund (ETF) may have scooped up the BMO Oil and Gas ETF (TSX:ZEO). This fund has been designed to replicate the performance of the Solactive Equal Weight Canada Oil & Gas Index. It focuses on securities in the oil and gas industries.

Shares of this ETF have climbed 42% in 2022 as of close on November 29. The fund is now up 48% in the year-over-year period. This ETF has more than tripled in value since hitting a five-year low during the March 2020 market pullback. However, this fund is still considered high risk according to its fund facts.

Some of the top holdings in this fund include household names like Imperial Oil, Cenovus Energy, Canadian Natural Resources, Suncor Energy, and Arc Resources to round out the top five. This ETF last delivered a quarterly distribution of $0.65 per share. That represents a 2.9% yield.