PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
BMAX.TO vs. ZMI.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BMAX.TO vs. ZMI.TO

Last updated Jun 4, 2026

BMAX.TO (Brompton Enhanced Multi-Asset Income ETF) and ZMI.TO (BMO Monthly Income ETF) are both Diversified Portfolio funds. Over the past 3 years, BMAX.TO returned 18.63%/yr vs 12.30%/yr for ZMI.TO. A 0.68 correlation means they provide meaningful diversification when combined. BMAX.TO charges 2.62%/yr vs 0.18%/yr for ZMI.TO.

Performance

BMAX.TO vs. ZMI.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Brompton Enhanced Multi-Asset Income ETF (BMAX.TO) and BMO Monthly Income ETF (ZMI.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

The year-to-date returns for both stocks are quite close, with BMAX.TO having a 9.27% return and ZMI.TO slightly lower at 9.05%.

BMAX.TO

1D
-0.03%
1M
4.64%
YTD
9.27%
6M
9.79%
1Y
22.18%
3Y*
18.63%
5Y*
—
10Y*
—

ZMI.TO

1D
0.00%
1M
4.38%
YTD
9.05%
6M
5.77%
1Y
15.92%
3Y*
12.30%
5Y*
7.74%
10Y*
6.57%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BMAX.TO vs. ZMI.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022
BMAX.TO
Brompton Enhanced Multi-Asset Income ETF		9.27%17.88%19.42%11.56%6.10%
ZMI.TO
BMO Monthly Income ETF		9.05%7.88%13.43%9.00%6.61%

Correlation

The correlation between BMAX.TO and ZMI.TO is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.74

Correlation (3Y)
Calculated over the trailing 3-year period

0.69

Correlation (All Time)
Calculated using the full available price history since Oct 21, 2022

0.68

The correlation between BMAX.TO and ZMI.TO has been stable across timeframes, ranging from 0.68 to 0.74 - a consistent structural relationship.

BMAX.TO vs. ZMI.TO - Sectors Allocation Comparison

Sectors
BMAX.TO
ZMI.TO

Financial Services

24.1%
20.1%

Technology

18.8%
16.4%

Healthcare

17.0%
9.8%

Industrials

13.0%
6.0%

Energy

7.0%
13.4%

Consumer Defensive

4.9%
7.3%

Utilities

4.4%
5.8%

Communication Services

4.3%
7.4%

Basic Materials

2.6%
5.3%

Consumer Cyclical

2.6%
5.4%

Real Estate

1.3%
3.1%

Financial Services

BMAX.TO
24.1%
ZMI.TO
20.1%

Technology

BMAX.TO
18.8%
ZMI.TO
16.4%

Healthcare

BMAX.TO
17.0%
ZMI.TO
9.8%

Industrials

BMAX.TO
13.0%
ZMI.TO
6.0%

Energy

BMAX.TO
7.0%
ZMI.TO
13.4%

Consumer Defensive

BMAX.TO
4.9%
ZMI.TO
7.3%

Utilities

BMAX.TO
4.4%
ZMI.TO
5.8%

Communication Services

BMAX.TO
4.3%
ZMI.TO
7.4%

Basic Materials

BMAX.TO
2.6%
ZMI.TO
5.3%

Consumer Cyclical

BMAX.TO
2.6%
ZMI.TO
5.4%

Real Estate

BMAX.TO
1.3%
ZMI.TO
3.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Brompton Enhanced Multi-Asset Income ETF

BMO Monthly Income ETF

Often compared with BMAX.TO:
BMAX.TO vs. HDIV.TOBMAX.TO vs. UTES.TOBMAX.TO vs. ZWQT.TOBMAX.TO vs. CLSA.TOBMAX.TO vs. BANK.TOBMAX.TO vs. HUTE.TOBMAX.TO vs. SPLT.TO
Often compared with ZMI.TO:
ZMI.TO vs. XTR.TOZMI.TO vs. VRIF.TOZMI.TO vs. XDIV.TOZMI.TO vs. VDY.TOZMI.TO vs. VBAL.TOZMI.TO vs. ZBAL.TOZMI.TO vs. XEI.TO

Return for Risk

BMAX.TO vs. ZMI.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BMAX.TO
BMAX.TO Risk / Return Rank: 5959
Overall Rank
BMAX.TO Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
BMAX.TO Sortino Ratio Rank: 6363
Sortino Ratio Rank
BMAX.TO Omega Ratio Rank: 6262
Omega Ratio Rank
BMAX.TO Calmar Ratio Rank: 4848
Calmar Ratio Rank
BMAX.TO Martin Ratio Rank: 5959
Martin Ratio Rank
ZMI.TO
ZMI.TO Risk / Return Rank: 6767
Overall Rank
ZMI.TO Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
ZMI.TO Sortino Ratio Rank: 6262
Sortino Ratio Rank
ZMI.TO Omega Ratio Rank: 7777
Omega Ratio Rank
ZMI.TO Calmar Ratio Rank: 6767
Calmar Ratio Rank
ZMI.TO Martin Ratio Rank: 6161
Martin Ratio Rank
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.

BMAX.TO vs. ZMI.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brompton Enhanced Multi-Asset Income ETF (BMAX.TO) and BMO Monthly Income ETF (ZMI.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.

BMAX.TOZMI.TODifference
Sharpe ratioReturn per unit of total volatility
2.10
2.25

-0.16

Sortino ratioReturn per unit of downside risk
3.01
2.96

+0.04

Omega ratioGain probability vs. loss probability

1.38

1.47

-0.08

Calmar ratioReturn relative to maximum drawdown

2.38

3.36

-0.98

Martin ratioReturn relative to average drawdown

10.46

10.99

-0.53

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BMAX.TO vs. ZMI.TO - Sharpe Ratio Comparison

The current BMAX.TO Sharpe Ratio is 2.10, which is comparable to the ZMI.TO Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of BMAX.TO and ZMI.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.

Loading charts...

Sharpe Ratios by Period

BMAX.TOZMI.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.10

2.25

-0.16

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

1.05

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.74

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.38

0.77

+0.61

Drawdowns

BMAX.TO vs. ZMI.TO - Drawdown Comparison

The maximum BMAX.TO drawdown since its inception was -15.42%, smaller than the maximum ZMI.TO drawdown of -26.65%. Use the drawdown chart below to compare losses from any high point for BMAX.TO and ZMI.TO.

Loading charts...

Drawdown Indicators

BMAX.TOZMI.TODifference

Max Drawdown

Largest peak-to-trough decline

-15.42%

-26.65%

+11.23%

Max Drawdown (1Y)

Largest decline over 1 year

-9.35%

-4.75%

-4.60%

Max Drawdown (3Y)

Largest decline over 3 years

-15.42%

-8.81%

-6.61%

Max Drawdown (5Y)

Largest decline over 5 years

—

-12.65%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-26.65%

—

Current Drawdown

Current decline from peak

-0.96%

-0.17%

-0.79%

Average Drawdown

Average peak-to-trough decline

-1.90%

-2.12%

+0.22%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.13%

1.45%

+0.68%

Volatility

BMAX.TO vs. ZMI.TO - Volatility Comparison

Brompton Enhanced Multi-Asset Income ETF (BMAX.TO) has a higher volatility of 3.27% compared to BMO Monthly Income ETF (ZMI.TO) at 2.27%. This indicates that BMAX.TO's price experiences larger fluctuations and is considered to be riskier than ZMI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

BMAX.TOZMI.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.27%

2.27%

+1.00%

Volatility (6M)

Calculated over the trailing 6-month period

8.81%

5.80%

+3.01%

Volatility (1Y)

Calculated over the trailing 1-year period

10.62%

7.10%

+3.52%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.13%

7.44%

+5.69%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.13%

8.87%

+4.26%

BMAX.TO vs. ZMI.TO - Expense Ratio Comparison

BMAX.TO has a 2.62% expense ratio, which is higher than ZMI.TO's 0.18% expense ratio.

Dividends

BMAX.TO vs. ZMI.TO - Dividend Comparison

BMAX.TO's dividend yield for the trailing twelve months is around 9.59%, more than ZMI.TO's 3.93% yield.

PositionTTM20252024202320222021202020192018201720162015
BMAX.TO
Brompton Enhanced Multi-Asset Income ETF		9.59%9.70%9.64%9.55%2.41%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
ZMI.TO
BMO Monthly Income ETF		3.93%4.54%4.68%4.94%4.49%3.71%4.21%4.24%4.58%4.06%3.89%3.89%

Frequently Asked Questions

BMAX.TO and ZMI.TO have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZMI.TO is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZMI.TO is cheaper with a 0.18% expense ratio, compared with 2.62% for BMAX.TO.

They also come from different issuers: Brompton Funds and BMO. Their fees differ too: 2.62% for BMAX.TO and 0.18% for ZMI.TO.

Portfolio Optimizer

Find the right allocation for BMAX.TO and ZMI.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer