CMR.TO vs. ZBI.TO
CMR.TO (iShares Premium Money Market ETF) and ZBI.TO (BMO Canadian Bank Income Index ETF) are both exchange-traded funds - CMR.TO is a Money Market fund actively managed by iShares, while ZBI.TO is a Canadian Government Bonds fund tracking the Solactive Canadian Bank Income Index. CMR.TO is actively managed, while ZBI.TO is passively managed. Over the past 3 years, CMR.TO returned 3.73%/yr vs 8.27%/yr for ZBI.TO. At a 0.04 correlation, their price movements are largely independent. CMR.TO charges 0.14%/yr vs 0.28%/yr for ZBI.TO.
Performance
CMR.TO vs. ZBI.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CMR.TO achieves a 0.97% return, which is significantly lower than ZBI.TO's 1.64% return.
CMR.TO
- 1D
- 0.00%
- 1M
- 0.19%
- YTD
- 0.97%
- 6M
- 1.05%
- 1Y
- 2.37%
- 3Y*
- 3.73%
- 5Y*
- 2.94%
- 10Y*
- 1.89%
ZBI.TO
- 1D
- 0.10%
- 1M
- 0.78%
- YTD
- 1.64%
- 6M
- 1.59%
- 1Y
- 5.19%
- 3Y*
- 8.27%
- 5Y*
- —
- 10Y*
- —
CMR.TO vs. ZBI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CMR.TO iShares Premium Money Market ETF | 0.97% | 2.68% | 4.70% | 4.70% | 1.71% |
ZBI.TO BMO Canadian Bank Income Index ETF | 1.64% | 5.10% | 12.50% | 6.85% | -3.89% |
Correlation
The correlation between CMR.TO and ZBI.TO is 0.04, 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 | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2022 | 0.04 |
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Return for Risk
CMR.TO vs. ZBI.TO — Risk / Return Rank
CMR.TO
ZBI.TO
CMR.TO vs. ZBI.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Premium Money Market ETF (CMR.TO) and BMO Canadian Bank Income Index ETF (ZBI.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.
| CMR.TO | ZBI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +8.01 | ||
| Sortino ratioReturn per unit of downside risk | +17.29 | ||
| Omega ratioGain probability vs. loss probability | 9.57 | 1.57 | +8.00 |
| Calmar ratioReturn relative to maximum drawdown | 25.44 | 4.32 | +21.12 |
| Martin ratioReturn relative to average drawdown | 187.33 | 21.01 | +166.32 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CMR.TO | ZBI.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 10.61 | 2.59 | +8.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 10.67 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 7.02 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.84 | 1.25 | +2.59 |
Drawdowns
CMR.TO vs. ZBI.TO - Drawdown Comparison
The maximum CMR.TO drawdown since its inception was -0.52%, smaller than the maximum ZBI.TO drawdown of -8.22%. Use the drawdown chart below to compare losses from any high point for CMR.TO and ZBI.TO.
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Drawdown Indicators
| CMR.TO | ZBI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.52% | -8.22% | +7.70% |
Max Drawdown (1Y)Largest decline over 1 year | -0.09% | -1.21% | +1.12% |
Max Drawdown (3Y)Largest decline over 3 years | -0.09% | -1.47% | +1.38% |
Max Drawdown (5Y)Largest decline over 5 years | -0.09% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -0.14% | — | — |
Current DrawdownCurrent decline from peak | -0.02% | -0.00% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -0.01% | -2.25% | +2.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.25% | -0.24% |
Volatility
CMR.TO vs. ZBI.TO - Volatility Comparison
The current volatility for iShares Premium Money Market ETF (CMR.TO) is 0.05%, while BMO Canadian Bank Income Index ETF (ZBI.TO) has a volatility of 0.56%. This indicates that CMR.TO experiences smaller price fluctuations and is considered to be less risky than ZBI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMR.TO | ZBI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 0.56% | -0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 0.18% | 1.57% | -1.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.22% | 2.02% | -1.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.28% | 4.01% | -3.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.27% | 4.01% | -3.74% |
CMR.TO vs. ZBI.TO - Expense Ratio Comparison
CMR.TO has a 0.14% expense ratio, which is lower than ZBI.TO's 0.28% expense ratio.
Dividends
CMR.TO vs. ZBI.TO - Dividend Comparison
CMR.TO's dividend yield for the trailing twelve months is around 2.48%, less than ZBI.TO's 4.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMR.TO iShares Premium Money Market ETF | 2.48% | 2.81% | 4.56% | 4.64% | 1.62% | 0.00% | 0.47% | 1.60% | 1.33% | 0.61% | 0.43% | 0.48% |
ZBI.TO BMO Canadian Bank Income Index ETF | 4.24% | 4.01% | 3.36% | 3.58% | 2.66% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CMR.TO and ZBI.TO have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CMR.TO is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CMR.TO is cheaper with a 0.14% expense ratio, compared with 0.28% for ZBI.TO.
CMR.TO is categorized as Money Market, while ZBI.TO is Canadian Government Bonds. They also come from different issuers: iShares and BMO. Their fees differ too: 0.14% for CMR.TO and 0.28% for ZBI.TO.
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