CRT-UN.TO vs. ZBAL.TO

Last updated Jun 9, 2026

CRT-UN.TO (CT Real Estate Investment Trust) is a stock, while ZBAL.TO (BMO Balanced ETF) is Global Allocation fund actively managed by BMO. Over the past 5 years, CRT-UN.TO returned 7.05%/yr vs -13.02%/yr for ZBAL.TO. At a 0.41 correlation, their price movements are largely independent.

Performance

CRT-UN.TO vs. ZBAL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CT Real Estate Investment Trust (CRT-UN.TO) and BMO Balanced ETF (ZBAL.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CRT-UN.TO achieves a 11.59% return, which is significantly higher than ZBAL.TO's 6.78% return.

CRT-UN.TO

• 1D: -0.11%
• 1M: 1.42%
• YTD: 11.59%
• 6M: 15.18%
• 1Y: 16.30%
• 3Y*: 12.39%
• 5Y*: 7.05%
• 10Y*: 7.63%

ZBAL.TO

• 1D: 0.00%
• 1M: 0.89%
• YTD: 6.78%
• 6M: 7.25%
• 1Y: -60.63%
• 3Y*: -20.69%
• 5Y*: -13.02%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CRT-UN.TO vs. ZBAL.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
CRT-UN.TO CT Real Estate Investment Trust	11.59%	20.98%	3.91%	-0.26%	-5.16%	16.12%	2.73%	26.27%
ZBAL.TO BMO Balanced ETF	6.78%	-62.36%	16.15%	12.61%	-11.11%	10.39%	10.25%	9.71%

Correlation

The correlation between CRT-UN.TO and ZBAL.TO is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (All Time) Calculated using the full available price history since Feb 19, 2019	0.41

The correlation between CRT-UN.TO and ZBAL.TO shifts across timeframes, from 0.25 (1 year) to 0.42 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

CRT-UN.TO vs. ZBAL.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CRT-UN.TO

CRT-UN.TO Risk / Return Rank: 77
CRT-UN.TO Sharpe Ratio Rank: 79
CRT-UN.TO Sortino Ratio Rank: 75
CRT-UN.TO Omega Ratio Rank: 71
CRT-UN.TO Calmar Ratio Rank: 81
CRT-UN.TO Martin Ratio Rank: 82

ZBAL.TO

ZBAL.TO Risk / Return Rank: 2
ZBAL.TO Sharpe Ratio Rank: 2
ZBAL.TO Sortino Ratio Rank: 4
ZBAL.TO Omega Ratio Rank: 0
ZBAL.TO Calmar Ratio Rank: 1
ZBAL.TO Martin Ratio Rank: 5

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.

CRT-UN.TO vs. ZBAL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CT Real Estate Investment Trust (CRT-UN.TO) and BMO Balanced ETF (ZBAL.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.

	CRT-UN.TO	ZBAL.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.29	-0.90	+2.19
Sortino ratio: Return per unit of downside risk	1.93	-0.75	+2.68
Omega ratio: Gain probability vs. loss probability	1.22	0.54	+0.68
Calmar ratio: Return relative to maximum drawdown	2.63	-0.91	+3.54
Martin ratio: Return relative to average drawdown	6.86	-1.01	+7.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CRT-UN.TO vs. ZBAL.TO - Sharpe Ratio Comparison

The current CRT-UN.TO Sharpe Ratio is 1.29, which is higher than the ZBAL.TO Sharpe Ratio of -0.90. The chart below compares the historical Sharpe Ratios of CRT-UN.TO and ZBAL.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.

Sharpe Ratios by Period

	CRT-UN.TO	ZBAL.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.29	-0.90	+2.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	-0.42	+0.82
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	-0.24	+0.78

Drawdowns

CRT-UN.TO vs. ZBAL.TO - Drawdown Comparison

The maximum CRT-UN.TO drawdown since its inception was -45.88%, smaller than the maximum ZBAL.TO drawdown of -66.71%. Use the drawdown chart below to compare losses from any high point for CRT-UN.TO and ZBAL.TO.

Drawdown Indicators

	CRT-UN.TO	ZBAL.TO	Difference
Max Drawdown Largest peak-to-trough decline	-45.88%	-66.71%	+20.83%
Max Drawdown (1Y) Largest decline over 1 year	-6.24%	-66.71%	+60.47%
Max Drawdown (3Y) Largest decline over 3 years	-17.38%	-66.71%	+49.33%
Max Drawdown (5Y) Largest decline over 5 years	-24.70%	-66.71%	+42.01%
Max Drawdown (10Y) Largest decline over 10 years	-45.88%	—	—
Current Drawdown Current decline from peak	-0.84%	-61.55%	+60.71%
Average Drawdown Average peak-to-trough decline	-6.26%	-10.82%	+4.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.38%	59.97%	-57.59%

Volatility

CRT-UN.TO vs. ZBAL.TO - Volatility Comparison

The current volatility for CT Real Estate Investment Trust (CRT-UN.TO) is 2.78%, while BMO Balanced ETF (ZBAL.TO) has a volatility of 3.29%. This indicates that CRT-UN.TO experiences smaller price fluctuations and is considered to be less risky than ZBAL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CRT-UN.TO	ZBAL.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.78%	3.29%	-0.51%
Volatility (6M) Calculated over the trailing 6-month period	9.36%	6.79%	+2.57%
Volatility (1Y) Calculated over the trailing 1-year period	12.74%	67.36%	-54.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.64%	31.12%	-13.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.22%	26.70%	-6.48%

Dividends

CRT-UN.TO vs. ZBAL.TO - Dividend Comparison

CRT-UN.TO's dividend yield for the trailing twelve months is around 5.35%, more than ZBAL.TO's 2.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CRT-UN.TO CT Real Estate Investment Trust	5.35%	5.77%	6.40%	6.04%	5.48%	4.76%	5.08%	4.71%	6.34%	4.84%	4.54%	5.11%
ZBAL.TO BMO Balanced ETF	2.68%	3.97%	2.18%	2.48%	2.72%	2.35%	2.53%	2.38%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CRT-UN.TO and ZBAL.TO in my portfolio?

CRT-UN.TO and ZBAL.TO have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.