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BMO Balanced ESG ETF (ZESG.TO) Diversifiers

ETF · Currency in CAD · Last updated Jun 4, 2026

The BMO Balanced ESG ETF aims to provide a balance of income and potential for long-term capital appreciation by investing in other BMO ETFs selected based on ESG factors, offering exposure to a diversified portfolio of global equity and fixed income securities.

Looking to diversify beyond ZESG.TO? The ETFs below have the lowest correlation with ZESG.TO — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from ZESG.TO.

Best Diversifiers for ZESG.TO

2 ETFs have low correlation with ZESG.TO (below 0.3), 0 of which are negatively correlated. The least correlated is BMO Money Market Fund ETF Series (ZMMK.TO) (Money Market) with a 1Y correlation of 0.14, roughly unchanged from 0.08 over 3 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
ZMMK.TO
BMO Money Market Fund ETF Series0.140.08—
100
Money MarketZESG.TO vs ZMMK.TO
GRO.TO
Franklin Growth ETF Portfolio0.16——
90
Diversified PortfolioZESG.TO vs GRO.TO
CEQT.TO
CI Equity Asset Allocation ETF0.410.28—
90
Diversified PortfolioZESG.TO vs CEQT.TO
GCNS.TO
iShares ESG Conservative Balanced ETF Portfolio0.420.420.42
52
Diversified PortfolioZESG.TO vs GCNS.TO
ZLB.TO
BMO Low Volatility Canadian Equity ETF0.450.400.42
54
Canada EquitiesZESG.TO vs ZLB.TO
See all 30 diversifiers for ZESG.TO

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Diversification Analysis

Build a portfolio that complements ZESG.TO

Add ZESG.TO to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.

Analyze a portfolio with ZESG.TO