AVLV vs. ZTIP.TO

Last updated Jun 13, 2026

AVLV (Avantis U.S. Large Cap Value ETF) and ZTIP.TO (BMO Short-Term US TIPS Index ETF) are both exchange-traded funds - AVLV is a Large Cap Value Equities fund actively managed by Avantis, while ZTIP.TO is a Inflation-Protected Bonds fund tracking the Bloomberg Barclays U.S. Government Inflation-Linked 0-5 Year Bond Index. AVLV is actively managed, while ZTIP.TO is passively managed. Over the past 3 years, AVLV returned 22.42%/yr vs 5.09%/yr for ZTIP.TO. At a correlation of -0.10, they often move in opposite directions. AVLV charges 0.15%/yr vs 0.17%/yr for ZTIP.TO.

Performance

AVLV vs. ZTIP.TO - Performance Comparison

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

Different Trading Currencies

AVLV 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, AVLV achieves a 21.54% return, which is significantly higher than ZTIP.TO's 1.43% return.

AVLV

• 1D: 0.72%
• 1M: 3.54%
• YTD: 21.54%
• 6M: 21.48%
• 1Y: 39.76%
• 3Y*: 22.42%
• 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)

AVLV vs. ZTIP.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AVLV Avantis U.S. Large Cap Value ETF	21.54%	15.12%	17.49%	17.43%	-5.53%	6.27%
ZTIP.TO BMO Short-Term US TIPS Index ETF	1.53%	5.95%	4.95%	4.41%	-2.24%	1.18%

Correlation

The correlation between AVLV and ZTIP.TO is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.09
Correlation (3Y) Calculated over the trailing 3-year period	-0.05
Correlation (All Time) Calculated using the full available price history since Sep 23, 2021	-0.10

Return for Risk

AVLV vs. ZTIP.TO — Risk / Return Rank

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

AVLV

AVLV Risk / Return Rank: 94
AVLV Sharpe Ratio Rank: 94
AVLV Sortino Ratio Rank: 94
AVLV Omega Ratio Rank: 92
AVLV Calmar Ratio Rank: 94
AVLV Martin Ratio Rank: 94

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.

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

This table presents a comparison of risk-adjusted performance metrics for Avantis U.S. Large Cap Value ETF (AVLV) 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.

	AVLV	ZTIP.TO	Difference
Sharpe ratio: Return per unit of total volatility	3.10	0.75	+2.35
Sortino ratio: Return per unit of downside risk	4.26	1.15	+3.11
Omega ratio: Gain probability vs. loss probability	1.56	1.14	+0.42
Calmar ratio: Return relative to maximum drawdown	6.07	2.48	+3.60
Martin ratio: Return relative to average drawdown	24.12	7.40	+16.73

AVLV vs. ZTIP.TO - Sharpe Ratio Comparison

The current AVLV Sharpe Ratio is 3.10, which is higher than the ZTIP.TO Sharpe Ratio of 0.75. The chart below compares the historical Sharpe Ratios of AVLV 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

AVLV vs. ZTIP.TO - Drawdown Comparison

The maximum AVLV drawdown since its inception was -19.50%, 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 AVLV and ZTIP.TO.

Drawdown Indicators

	AVLV	ZTIP.TO	Difference
Max Drawdown Largest peak-to-trough decline	-19.50%	-6.85%	-12.65%
Max Drawdown (1Y) Largest decline over 1 year	-6.39%	-1.75%	-4.64%
Max Drawdown (3Y) Largest decline over 3 years	-19.50%	-2.38%	-17.12%
Max Drawdown (5Y) Largest decline over 5 years	—	-6.85%	—
Current Drawdown Current decline from peak	0.00%	-0.78%	+0.78%
Average Drawdown Average peak-to-trough decline	-3.91%	-1.58%	-2.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	0.58%	+1.03%

Volatility

AVLV vs. ZTIP.TO - Volatility Comparison

Avantis U.S. Large Cap Value ETF (AVLV) has a higher volatility of 3.67% compared to BMO Short-Term US TIPS Index ETF (ZTIP.TO) at 1.06%. This indicates that AVLV'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

	AVLV	ZTIP.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.67%	1.06%	+2.61%
Volatility (6M) Calculated over the trailing 6-month period	9.33%	3.94%	+5.39%
Volatility (1Y) Calculated over the trailing 1-year period	12.52%	5.79%	+6.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.34%	7.81%	+9.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.34%	7.78%	+9.56%

AVLV vs. ZTIP.TO - Expense Ratio Comparison

AVLV has a 0.15% expense ratio, which is lower than ZTIP.TO's 0.17% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AVLV vs. ZTIP.TO - Dividend Comparison

AVLV's dividend yield for the trailing twelve months is around 1.37%, less than ZTIP.TO's 3.42% yield.

Position	TTM	2025	2024	2023	2022	2021
AVLV Avantis U.S. Large Cap Value ETF	1.37%	1.33%	1.58%	1.85%	2.00%	0.29%
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 AVLV and ZTIP.TO in my portfolio?

AVLV and ZTIP.TO have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AVLV or ZTIP.TO?

On fees, AVLV is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AVLV or ZTIP.TO?

AVLV is cheaper with a 0.15% expense ratio, compared with 0.17% for ZTIP.TO.

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

AVLV is categorized as Large Cap Value Equities, while ZTIP.TO is Inflation-Protected Bonds. They also come from different issuers: Avantis and BMO. Their fees differ too: 0.15% for AVLV and 0.17% for ZTIP.TO.