CMR.TO vs. ZUCM.TO
CMR.TO (iShares Premium Money Market ETF) and ZUCM.TO (BMO USD Cash Management ETF) are both Money Market funds. Both are actively managed. Over the past year, CMR.TO returned 2.37% vs 5.27% for ZUCM.TO. At a 0.08 correlation, their price movements are largely independent. Both charge a 0.14% expense ratio.
Performance
CMR.TO vs. ZUCM.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 ZUCM.TO's 2.78% 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%
ZUCM.TO
- 1D
- 0.39%
- 1M
- 2.35%
- YTD
- 2.78%
- 6M
- 1.28%
- 1Y
- 5.27%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CMR.TO vs. ZUCM.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CMR.TO iShares Premium Money Market ETF | 0.97% | 2.68% | 4.70% | 1.24% |
ZUCM.TO BMO USD Cash Management ETF | 2.78% | -0.61% | 14.39% | -1.38% |
Correlation
The correlation between CMR.TO and ZUCM.TO is 0.09, 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 | 0.09 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2023 | 0.08 |
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Return for Risk
CMR.TO vs. ZUCM.TO — Risk / Return Rank
CMR.TO
ZUCM.TO
CMR.TO vs. ZUCM.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 USD Cash Management ETF (ZUCM.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 | ZUCM.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +9.41 | ||
| Sortino ratioReturn per unit of downside risk | +19.47 | ||
| Omega ratioGain probability vs. loss probability | 9.57 | 1.21 | +8.35 |
| Calmar ratioReturn relative to maximum drawdown | 25.44 | 1.43 | +24.00 |
| Martin ratioReturn relative to average drawdown | 187.33 | 3.82 | +183.50 |
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 | ZUCM.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 10.61 | 1.19 | +9.41 |
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 | 1.03 | +2.82 |
Drawdowns
CMR.TO vs. ZUCM.TO - Drawdown Comparison
The maximum CMR.TO drawdown since its inception was -0.52%, smaller than the maximum ZUCM.TO drawdown of -5.81%. Use the drawdown chart below to compare losses from any high point for CMR.TO and ZUCM.TO.
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Drawdown Indicators
| CMR.TO | ZUCM.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.52% | -5.81% | +5.29% |
Max Drawdown (1Y)Largest decline over 1 year | -0.09% | -3.69% | +3.60% |
Max Drawdown (3Y)Largest decline over 3 years | -0.09% | — | — |
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% | -1.72% | +1.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 1.38% | -1.37% |
Volatility
CMR.TO vs. ZUCM.TO - Volatility Comparison
The current volatility for iShares Premium Money Market ETF (CMR.TO) is 0.05%, while BMO USD Cash Management ETF (ZUCM.TO) has a volatility of 0.75%. This indicates that CMR.TO experiences smaller price fluctuations and is considered to be less risky than ZUCM.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 | ZUCM.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 0.75% | -0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 0.18% | 3.23% | -3.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.22% | 4.43% | -4.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.28% | 5.34% | -5.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.27% | 5.34% | -5.07% |
CMR.TO vs. ZUCM.TO - Expense Ratio Comparison
Both CMR.TO and ZUCM.TO have an expense ratio of 0.14%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
CMR.TO vs. ZUCM.TO - Dividend Comparison
CMR.TO's dividend yield for the trailing twelve months is around 2.48%, less than ZUCM.TO's 3.81% 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% |
ZUCM.TO BMO USD Cash Management ETF | 3.81% | 4.19% | 4.88% | 1.40% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CMR.TO and ZUCM.TO have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.14% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
CMR.TO and ZUCM.TO have the same expense ratio: 0.14% per year.
They also come from different issuers: iShares and BMO.
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