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BND.TO vs. ZGI.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BND.TO vs. ZGI.TO

Last updated Jun 26, 2026

BND.TO (Purpose Global Bond Fund) and ZGI.TO (BMO Global Infrastructure Index ETF) are both exchange-traded funds - BND.TO is a Global Bonds fund, while ZGI.TO is a Industrials Equities fund tracking the Dow Jones Brookfield Global Infrastructure North American Listed Index. BND.TO is actively managed, while ZGI.TO is passively managed. Over the past 10 years, BND.TO returned 3.04%/yr vs 9.10%/yr for ZGI.TO. At a 0.14 correlation, their price movements are largely independent.

Performance

BND.TO vs. ZGI.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Purpose Global Bond Fund (BND.TO) and BMO Global Infrastructure Index ETF (ZGI.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BND.TO achieves a 1.60% return, which is significantly lower than ZGI.TO's 18.48% return. Over the past 10 years, BND.TO has underperformed ZGI.TO with an annualized return of 3.04%, while ZGI.TO has yielded a comparatively higher 9.10% annualized return.

BND.TO

1D
0.06%
1M
0.88%
YTD
1.60%
6M
1.75%
1Y
5.54%
3Y*
7.40%
5Y*
3.23%
10Y*
3.04%

ZGI.TO

1D
0.46%
1M
2.26%
YTD
18.48%
6M
16.54%
1Y
18.26%
3Y*
16.82%
5Y*
11.56%
10Y*
9.10%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BND.TO vs. ZGI.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
BND.TO
Purpose Global Bond Fund		1.60%7.26%7.49%8.45%-7.80%2.62%6.14%4.16%-0.91%1.72%
ZGI.TO
BMO Global Infrastructure Index ETF		18.48%1.01%25.45%-0.64%4.56%26.89%-10.43%25.26%-0.75%2.97%

Correlation

The correlation between BND.TO and ZGI.TO is -0.10, 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

-0.10

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

0.11

Correlation (5Y)
Calculated over the trailing 5-year period

0.14

Correlation (10Y)
Calculated over the trailing 10-year period

0.15

Correlation (All Time)
Calculated using the full available price history since Oct 28, 2015

0.14

The correlation between BND.TO and ZGI.TO shifts across timeframes, from -0.10 (1 year) to 0.15 (10 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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Purpose Global Bond Fund

BMO Global Infrastructure Index ETF

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Often compared with ZGI.TO:
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Return for Risk

BND.TO vs. ZGI.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BND.TO
BND.TO Risk / Return Rank: 5858
Overall Rank
BND.TO Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
BND.TO Sortino Ratio Rank: 6666
Sortino Ratio Rank
BND.TO Omega Ratio Rank: 6666
Omega Ratio Rank
BND.TO Calmar Ratio Rank: 4444
Calmar Ratio Rank
BND.TO Martin Ratio Rank: 5353
Martin Ratio Rank
ZGI.TO
ZGI.TO Risk / Return Rank: 5151
Overall Rank
ZGI.TO Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
ZGI.TO Sortino Ratio Rank: 4848
Sortino Ratio Rank
ZGI.TO Omega Ratio Rank: 4545
Omega Ratio Rank
ZGI.TO Calmar Ratio Rank: 6464
Calmar Ratio Rank
ZGI.TO Martin Ratio Rank: 5050
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.

BND.TO vs. ZGI.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Purpose Global Bond Fund (BND.TO) and BMO Global Infrastructure Index ETF (ZGI.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.

BND.TOZGI.TODifference
Sharpe ratioReturn per unit of total volatility
1.78
1.49

+0.29

Sortino ratioReturn per unit of downside risk
2.60
2.11

+0.49

Omega ratioGain probability vs. loss probability

1.34

1.26

+0.08

Calmar ratioReturn relative to maximum drawdown

1.94

2.76

-0.82

Martin ratioReturn relative to average drawdown

7.99

7.60

+0.40

BND.TO vs. ZGI.TO - Sharpe Ratio Comparison

The current BND.TO Sharpe Ratio is 1.78, which is comparable to the ZGI.TO Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of BND.TO and ZGI.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.

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Drawdowns

BND.TO vs. ZGI.TO - Drawdown Comparison

The maximum BND.TO drawdown since its inception was -16.55%, smaller than the maximum ZGI.TO drawdown of -34.76%. Use the drawdown chart below to compare losses from any high point for BND.TO and ZGI.TO.

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Drawdown Indicators

BND.TOZGI.TODifference

Max Drawdown

Largest peak-to-trough decline

-16.55%

-34.76%

+18.21%

Max Drawdown (1Y)

Largest decline over 1 year

-2.87%

-6.65%

+3.78%

Max Drawdown (3Y)

Largest decline over 3 years

-4.46%

-10.07%

+5.61%

Max Drawdown (5Y)

Largest decline over 5 years

-12.43%

-16.61%

+4.18%

Max Drawdown (10Y)

Largest decline over 10 years

-16.55%

-34.76%

+18.21%

Current Drawdown

Current decline from peak

-0.06%

0.00%

-0.06%

Average Drawdown

Average peak-to-trough decline

-2.10%

-4.36%

+2.26%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.70%

2.41%

-1.71%

Volatility

BND.TO vs. ZGI.TO - Volatility Comparison

The current volatility for Purpose Global Bond Fund (BND.TO) is 1.20%, while BMO Global Infrastructure Index ETF (ZGI.TO) has a volatility of 4.00%. This indicates that BND.TO experiences smaller price fluctuations and is considered to be less risky than ZGI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BND.TOZGI.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.20%

4.00%

-2.80%

Volatility (6M)

Calculated over the trailing 6-month period

2.72%

9.90%

-7.18%

Volatility (1Y)

Calculated over the trailing 1-year period

3.12%

12.30%

-9.18%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.10%

13.30%

-8.20%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.15%

15.96%

-10.81%

Dividends

BND.TO vs. ZGI.TO - Dividend Comparison

BND.TO's dividend yield for the trailing twelve months is around 5.82%, more than ZGI.TO's 2.26% yield.

PositionTTM20252024202320222021202020192018201720162015
BND.TO
Purpose Global Bond Fund		5.82%5.70%5.24%5.20%4.14%3.67%3.48%3.11%3.96%3.47%3.26%0.53%
ZGI.TO
BMO Global Infrastructure Index ETF		2.26%2.77%2.82%3.33%3.01%3.06%3.75%2.85%2.99%2.59%3.29%2.97%

Frequently Asked Questions

BND.TO and ZGI.TO have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BND.TO is categorized as Global Bonds, while ZGI.TO is Industrials Equities.

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