CAGS.TO vs. ZSDB.TO
CAGS.TO (CI Canadian Short-Term Aggregate Bond Index ETF) and ZSDB.TO (BMO Short-Term Discount Bond ETF) are both Short-Term Bond funds. Over the past year, CAGS.TO returned 3.10% vs 0.32% for ZSDB.TO. At a 0.29 correlation, their price movements are largely independent.
Performance
CAGS.TO vs. ZSDB.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CAGS.TO achieves a 1.42% return, which is significantly higher than ZSDB.TO's 1.19% return.
CAGS.TO
- 1D
- 0.02%
- 1M
- 0.38%
- YTD
- 1.42%
- 6M
- 1.40%
- 1Y
- 3.10%
- 3Y*
- 5.14%
- 5Y*
- 2.12%
- 10Y*
- —
ZSDB.TO
- 1D
- 0.06%
- 1M
- 0.42%
- YTD
- 1.19%
- 6M
- 1.35%
- 1Y
- 0.32%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CAGS.TO vs. ZSDB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CAGS.TO CI Canadian Short-Term Aggregate Bond Index ETF | 1.42% | 3.95% | 6.07% | 0.20% |
ZSDB.TO BMO Short-Term Discount Bond ETF | 1.19% | 1.23% | 6.02% | 0.38% |
Correlation
The correlation between CAGS.TO and ZSDB.TO is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Dec 28, 2023 | 0.29 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CAGS.TO vs. ZSDB.TO — Risk / Return Rank
CAGS.TO
ZSDB.TO
CAGS.TO vs. ZSDB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Canadian Short-Term Aggregate Bond Index ETF (CAGS.TO) and BMO Short-Term Discount Bond ETF (ZSDB.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.
| CAGS.TO | ZSDB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.45 | ||
| Sortino ratioReturn per unit of downside risk | +2.04 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.03 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 0.10 | +2.24 |
| Martin ratioReturn relative to average drawdown | 7.01 | 0.19 | +6.82 |
Loading charts...
Drawdowns
CAGS.TO vs. ZSDB.TO - Drawdown Comparison
The maximum CAGS.TO drawdown since its inception was -11.60%, which is greater than ZSDB.TO's maximum drawdown of -3.20%. Use the drawdown chart below to compare losses from any high point for CAGS.TO and ZSDB.TO.
Loading charts...
Drawdown Indicators
| CAGS.TO | ZSDB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.60% | -3.20% | -8.40% |
Max Drawdown (1Y)Largest decline over 1 year | -1.33% | -3.20% | +1.87% |
Max Drawdown (3Y)Largest decline over 3 years | -1.33% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -7.58% | — | — |
Current DrawdownCurrent decline from peak | -0.02% | -1.52% | +1.50% |
Average DrawdownAverage peak-to-trough decline | -1.46% | -0.64% | -0.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | 1.71% | -1.27% |
Volatility
CAGS.TO vs. ZSDB.TO - Volatility Comparison
CI Canadian Short-Term Aggregate Bond Index ETF (CAGS.TO) has a higher volatility of 0.51% compared to BMO Short-Term Discount Bond ETF (ZSDB.TO) at 0.40%. This indicates that CAGS.TO's price experiences larger fluctuations and is considered to be riskier than ZSDB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CAGS.TO | ZSDB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.51% | 0.40% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 1.53% | 1.51% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.01% | 3.27% | -1.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.76% | 2.78% | -0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.63% | 2.78% | +1.85% |
Dividends
CAGS.TO vs. ZSDB.TO - Dividend Comparison
CAGS.TO's dividend yield for the trailing twelve months is around 3.27%, more than ZSDB.TO's 1.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CAGS.TO CI Canadian Short-Term Aggregate Bond Index ETF | 3.27% | 3.16% | 3.37% | 2.62% | 2.61% | 1.96% | 2.59% | 2.83% | 2.72% | 1.06% |
ZSDB.TO BMO Short-Term Discount Bond ETF | 1.35% | 1.29% | 1.33% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CAGS.TO and ZSDB.TO have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: CI and BMO.
Find the right allocation for CAGS.TO and ZSDB.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