CAGS.TO vs. ZSU.TO
CAGS.TO (CI Canadian Short-Term Aggregate Bond Index ETF) and ZSU.TO (BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF) are both Short-Term Bond funds. Over the past 5 years, CAGS.TO returned 2.12%/yr vs 1.27%/yr for ZSU.TO. At a 0.14 correlation, their price movements are largely independent.
Performance
CAGS.TO vs. ZSU.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CAGS.TO achieves a 1.42% return, which is significantly higher than ZSU.TO's -0.19% 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*
- —
ZSU.TO
- 1D
- -0.23%
- 1M
- 0.07%
- YTD
- -0.19%
- 6M
- -0.12%
- 1Y
- 1.68%
- 3Y*
- 4.05%
- 5Y*
- 1.27%
- 10Y*
- 1.62%
CAGS.TO vs. ZSU.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CAGS.TO CI Canadian Short-Term Aggregate Bond Index ETF | 1.42% | 3.95% | 6.07% | 5.02% | -4.30% | -1.22% | 4.47% | 4.33% | 1.41% | 0.49% |
ZSU.TO BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF | -0.19% | 4.61% | 3.84% | 5.18% | -6.17% | -0.99% | 4.54% | 5.57% | 0.06% | -0.24% |
Correlation
The correlation between CAGS.TO and ZSU.TO is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Jul 28, 2017 | 0.14 |
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Return for Risk
CAGS.TO vs. ZSU.TO — Risk / Return Rank
CAGS.TO
ZSU.TO
CAGS.TO vs. ZSU.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 US IG Corporate Bond Hedged to CAD Index ETF (ZSU.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 | ZSU.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.89 | ||
| Sortino ratioReturn per unit of downside risk | +1.20 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.12 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 1.13 | +1.21 |
| Martin ratioReturn relative to average drawdown | 7.01 | 3.08 | +3.93 |
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Drawdowns
CAGS.TO vs. ZSU.TO - Drawdown Comparison
The maximum CAGS.TO drawdown since its inception was -11.60%, smaller than the maximum ZSU.TO drawdown of -12.35%. Use the drawdown chart below to compare losses from any high point for CAGS.TO and ZSU.TO.
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Drawdown Indicators
| CAGS.TO | ZSU.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.60% | -12.35% | +0.75% |
Max Drawdown (1Y)Largest decline over 1 year | -1.33% | -1.49% | +0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -1.33% | -1.49% | +0.16% |
Max Drawdown (5Y)Largest decline over 5 years | -7.58% | -10.02% | +2.44% |
Max Drawdown (10Y)Largest decline over 10 years | — | -12.35% | — |
Current DrawdownCurrent decline from peak | -0.02% | -0.77% | +0.75% |
Average DrawdownAverage peak-to-trough decline | -1.46% | -1.62% | +0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | 0.55% | -0.11% |
Volatility
CAGS.TO vs. ZSU.TO - Volatility Comparison
CI Canadian Short-Term Aggregate Bond Index ETF (CAGS.TO) and BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF (ZSU.TO) have volatilities of 0.51% and 0.53%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CAGS.TO | ZSU.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.51% | 0.53% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 1.53% | 1.75% | -0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.01% | 2.56% | -0.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.76% | 3.69% | -0.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.63% | 4.47% | +0.16% |
Dividends
CAGS.TO vs. ZSU.TO - Dividend Comparison
CAGS.TO's dividend yield for the trailing twelve months is around 3.27%, less than ZSU.TO's 4.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
ZSU.TO BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF | 4.31% | 3.76% | 3.31% | 3.17% | 3.23% | 2.97% | 2.99% | 2.78% | 2.49% | 2.30% | 2.07% | 2.29% |
Frequently Asked Questions
CAGS.TO and ZSU.TO have a correlation of 0.19, 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.
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