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BMO Monthly Income ETF (ZMI.TO) Diversifiers

ETF · Currency in CAD · Last updated Jun 25, 2026

The BMO Monthly Income ETF aims to provide monthly cash distributions and potential modest long-term capital appreciation by investing in BMO ETFs that offer exposure to a diversified portfolio of income-generating assets, including common equities, preferred shares, fixed income securities, and trust units.

Looking to diversify beyond ZMI.TO? The ETFs below have the lowest correlation with ZMI.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 ZMI.TO.

Best Diversifiers for ZMI.TO

4 ETFs have low correlation with ZMI.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 0.06, roughly unchanged from 0.04 over 3 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
ZMMK.TO
BMO Money Market Fund ETF Series0.060.04—
99
Money MarketZMI.TO vs ZMMK.TO
GRO.TO
Franklin Growth ETF Portfolio0.10——
93
Diversified PortfolioZMI.TO vs GRO.TO
ZST.TO
BMO Ultra Short-Term Bond ETF0.140.170.19
51
Canadian Government Bonds, Ultrashort BondZMI.TO vs ZST.TO
GCNS.TO
iShares ESG Conservative Balanced ETF Portfolio0.210.260.30
56
Diversified PortfolioZMI.TO vs GCNS.TO
CEQT.TO
CI Equity Asset Allocation ETF0.390.270.27
92
Diversified PortfolioZMI.TO vs CEQT.TO
See all 49 diversifiers for ZMI.TO

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Diversification Analysis

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Analyze a portfolio with ZMI.TO