A design for a CMOS-compatible active waveguide is proposed in which the epsilon-near-zero (ENZ) property of the Indium-tin-oxide (ITO) is used to induce large variations in the real and imaginary parts of the waveguide effective index. The proposed waveguide comprises a TiN/HfO2/ITO metal-oxide-semiconductor (MOS) structure where the speed and power consumption are significantly reduced by the application of the TiN and realization of double accumulation layers in the ITO. Simulations show the insertion loss (IL) of 0.38dB/µm, extinction ratio (ER) of 11dB/µm, the energy consumption of 11.87fJ/bit and electrical bandwidth of 280GHz when the designed waveguide is used as an electro-absorption modulator. The waveguide is then used in an MZI structure to design binary and quadrature-amplitude-modulator (QAM) modulators. For binary modulator, the IL, ER, and VπLπ figures of merit are found to be 1.24dB, 54dB, and 6.4V.µm, respectively, which show substantial improvement over previous ITO-based designs. In the QAM design, the symmetry in the real and imaginary parts of the waveguide effective index is employed to obviate the need for additional phase shift elements. This considerably reduces the overall length of the proposed QAM modulator and improves efficiency. Simulations show the energy consumption and bit rate, of 2fJ/bit and 560Gbps, respectively in a 4-QAM modulator with the overall length of 6.2µm. The symmetry properties of the proposed waveguide can be further exploited to realize quadrature-phase-shift-keying (QPSK) modulators which here is used in combination with the 4-QAM to propose a design for the more advanced modulation scheme of 16-QAM. The design of ITO-based QAM modulators is here reported for the first time and the abovementioned performance parameters show the unique properties of these modulators in terms of footprint, energy consumption and modulation-speed.