AVIV vs. ZTIP.TO

Last updated Jun 13, 2026

AVIV (Avantis International Large Cap Value ETF) and ZTIP.TO (BMO Short-Term US TIPS Index ETF) are both exchange-traded funds - AVIV is a Foreign Large Cap Equities fund tracking the MSCI World ex-U.S. Value Index, while ZTIP.TO is a Inflation-Protected Bonds fund tracking the Bloomberg Barclays U.S. Government Inflation-Linked 0-5 Year Bond Index. Both are passively managed. Over the past 3 years, AVIV returned 21.41%/yr vs 5.09%/yr for ZTIP.TO. At a correlation of -0.17, they often move in opposite directions. AVIV charges 0.25%/yr vs 0.17%/yr for ZTIP.TO.

Performance

AVIV vs. ZTIP.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis International Large Cap Value ETF (AVIV) and BMO Short-Term US TIPS Index ETF (ZTIP.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

AVIV is traded in USD, while ZTIP.TO is traded in CAD. To make them comparable, the ZTIP.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, AVIV achieves a 12.06% return, which is significantly higher than ZTIP.TO's 1.43% return.

AVIV

• 1D: 0.59%
• 1M: 0.54%
• YTD: 12.06%
• 6M: 13.52%
• 1Y: 32.22%
• 3Y*: 21.41%
• 5Y*: —
• 10Y*: —

ZTIP.TO

• 1D: -0.32%
• 1M: -0.54%
• YTD: 1.43%
• 6M: 1.78%
• 1Y: 4.31%
• 3Y*: 5.09%
• 5Y*: 3.29%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AVIV vs. ZTIP.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AVIV Avantis International Large Cap Value ETF	12.06%	41.80%	4.30%	18.47%	-8.26%	1.83%
ZTIP.TO BMO Short-Term US TIPS Index ETF	1.53%	5.95%	4.95%	4.41%	-2.24%	-0.24%

Correlation

The correlation between AVIV and ZTIP.TO is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.16
Correlation (3Y) Calculated over the trailing 3-year period	-0.14
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021	-0.17

Return for Risk

AVIV vs. ZTIP.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AVIV

AVIV Risk / Return Rank: 74
AVIV Sharpe Ratio Rank: 77
AVIV Sortino Ratio Rank: 77
AVIV Omega Ratio Rank: 77
AVIV Calmar Ratio Rank: 66
AVIV Martin Ratio Rank: 71

ZTIP.TO

ZTIP.TO Risk / Return Rank: 47
ZTIP.TO Sharpe Ratio Rank: 48
ZTIP.TO Sortino Ratio Rank: 47
ZTIP.TO Omega Ratio Rank: 63
ZTIP.TO Calmar Ratio Rank: 40
ZTIP.TO Martin Ratio Rank: 35

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AVIV vs. ZTIP.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis International Large Cap Value ETF (AVIV) and BMO Short-Term US TIPS Index ETF (ZTIP.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AVIV	ZTIP.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.15	0.75	+1.40
Sortino ratio: Return per unit of downside risk	2.96	1.15	+1.81
Omega ratio: Gain probability vs. loss probability	1.39	1.14	+0.25
Calmar ratio: Return relative to maximum drawdown	2.91	2.48	+0.43
Martin ratio: Return relative to average drawdown	11.35	7.40	+3.96

AVIV vs. ZTIP.TO - Sharpe Ratio Comparison

The current AVIV Sharpe Ratio is 2.15, which is higher than the ZTIP.TO Sharpe Ratio of 0.75. The chart below compares the historical Sharpe Ratios of AVIV and ZTIP.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AVIV vs. ZTIP.TO - Drawdown Comparison

The maximum AVIV drawdown since its inception was -27.69%, which is greater than ZTIP.TO's maximum drawdown of -6.85%. Use the drawdown chart below to compare losses from any high point for AVIV and ZTIP.TO.

Drawdown Indicators

	AVIV	ZTIP.TO	Difference
Max Drawdown Largest peak-to-trough decline	-27.69%	-6.85%	-20.84%
Max Drawdown (1Y) Largest decline over 1 year	-10.78%	-1.75%	-9.03%
Max Drawdown (3Y) Largest decline over 3 years	-14.13%	-2.38%	-11.75%
Max Drawdown (5Y) Largest decline over 5 years	—	-6.85%	—
Current Drawdown Current decline from peak	-0.89%	-0.78%	-0.11%
Average Drawdown Average peak-to-trough decline	-5.10%	-1.58%	-3.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	0.58%	+2.18%

Volatility

AVIV vs. ZTIP.TO - Volatility Comparison

Avantis International Large Cap Value ETF (AVIV) has a higher volatility of 5.13% compared to BMO Short-Term US TIPS Index ETF (ZTIP.TO) at 1.06%. This indicates that AVIV's price experiences larger fluctuations and is considered to be riskier than ZTIP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVIV	ZTIP.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.13%	1.06%	+4.07%
Volatility (6M) Calculated over the trailing 6-month period	12.33%	3.94%	+8.39%
Volatility (1Y) Calculated over the trailing 1-year period	14.61%	5.79%	+8.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.93%	7.81%	+9.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.93%	7.78%	+9.15%

AVIV vs. ZTIP.TO - Expense Ratio Comparison

AVIV has a 0.25% expense ratio, which is higher than ZTIP.TO's 0.17% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AVIV vs. ZTIP.TO - Dividend Comparison

AVIV's dividend yield for the trailing twelve months is around 3.95%, more than ZTIP.TO's 3.42% yield.

Position	TTM	2025	2024	2023	2022	2021
AVIV Avantis International Large Cap Value ETF	3.95%	3.01%	3.46%	3.64%	2.84%	0.57%
ZTIP.TO BMO Short-Term US TIPS Index ETF	3.42%	3.63%	3.63%	4.91%	4.93%	0.38%

Frequently Asked Questions

Can I hold both AVIV and ZTIP.TO in my portfolio?

AVIV and ZTIP.TO have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AVIV or ZTIP.TO?

On fees, ZTIP.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AVIV or ZTIP.TO?

ZTIP.TO is cheaper with a 0.17% expense ratio, compared with 0.25% for AVIV.

What is the main difference between AVIV and ZTIP.TO?

AVIV is categorized as Foreign Large Cap Equities, while ZTIP.TO is Inflation-Protected Bonds. AVIV tracks MSCI World ex-U.S. Value Index, while ZTIP.TO tracks Bloomberg Barclays U.S. Government Inflation-Linked 0-5 Year Bond Index. They also come from different issuers: Avantis and BMO. Their fees differ too: 0.25% for AVIV and 0.17% for ZTIP.TO.