CSBG.NEO vs. ZGRO.TO

Last updated Jul 16, 2026

CSBG.NEO (CIBC Sustainable Balanced Growth Solution ETF) and ZGRO.TO (BMO Growth ETF) are both exchange-traded funds - CSBG.NEO is a Diversified Portfolio fund actively managed by CIBC, while ZGRO.TO is a Global Allocation fund actively managed by BMO. Both are actively managed. Over the past 3 years, CSBG.NEO returned 0.96%/yr vs 21.31%/yr for ZGRO.TO. At a 0.01 correlation, their price movements are largely independent. CSBG.NEO charges 0.90%/yr vs 0.18%/yr for ZGRO.TO.

Performance

CSBG.NEO vs. ZGRO.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CIBC Sustainable Balanced Growth Solution ETF (CSBG.NEO) and BMO Growth ETF (ZGRO.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CSBG.NEO achieves a 0.49% return, which is significantly lower than ZGRO.TO's 11.48% return.

CSBG.NEO

• 1D: 0.00%
• 1M: 0.49%
• 6M: 0.49%
• YTD: 0.49%
• 1Y: 0.49%
• 3Y*: 0.96%
• 5Y*: —
• 10Y*: —

ZGRO.TO

• 1D: 0.10%
• 1M: -1.94%
• 6M: 8.38%
• YTD: 11.48%
• 1Y: 23.24%
• 3Y*: 21.31%
• 5Y*: 15.20%
• 10Y*: —

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

CSBG.NEO vs. ZGRO.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CSBG.NEO CIBC Sustainable Balanced Growth Solution ETF	0.49%	0.00%	1.17%	1.22%	0.27%	2.60%
ZGRO.TO BMO Growth ETF	11.48%	18.65%	25.70%	20.36%	-5.92%	7.75%

Correlation

The correlation between CSBG.NEO and ZGRO.TO is 0.02, 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	0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.04
Correlation (All Time) Calculated using the full available price history since Jul 19, 2021	0.01

Return for Risk

CSBG.NEO vs. ZGRO.TO — Risk / Return Rank

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

CSBG.NEO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

ZGRO.TO

ZGRO.TO Risk / Return Rank: 79
ZGRO.TO Sharpe Ratio Rank: 76
ZGRO.TO Sortino Ratio Rank: 77
ZGRO.TO Omega Ratio Rank: 76
ZGRO.TO Calmar Ratio Rank: 81
ZGRO.TO Martin Ratio Rank: 83

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.

CSBG.NEO vs. ZGRO.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CIBC Sustainable Balanced Growth Solution ETF (CSBG.NEO) and BMO Growth ETF (ZGRO.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.

	CSBG.NEO	ZGRO.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.01	1.94	-0.94
Sortino ratio: Return per unit of downside risk	—	2.73	—
Omega ratio: Gain probability vs. loss probability	—	1.35	—
Calmar ratio: Return relative to maximum drawdown	—	3.40	—
Martin ratio: Return relative to average drawdown	—	12.98	—

CSBG.NEO vs. ZGRO.TO - Sharpe Ratio Comparison

The current CSBG.NEO Sharpe Ratio is 1.01, which is lower than the ZGRO.TO Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of CSBG.NEO and ZGRO.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.

Drawdowns

CSBG.NEO vs. ZGRO.TO - Drawdown Comparison

The maximum CSBG.NEO drawdown since its inception was 0.00%, smaller than the maximum ZGRO.TO drawdown of -24.67%. Use the drawdown chart below to compare losses from any high point for CSBG.NEO and ZGRO.TO.

Drawdown Indicators

	CSBG.NEO	ZGRO.TO	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-24.67%	+24.67%
Max Drawdown (1Y) Largest decline over 1 year	0.00%	-6.87%	+6.87%
Max Drawdown (3Y) Largest decline over 3 years	0.00%	-11.60%	+11.60%
Max Drawdown (5Y) Largest decline over 5 years	—	-16.21%	—
Current Drawdown Current decline from peak	0.00%	-1.94%	+1.94%
Average Drawdown Average peak-to-trough decline	0.00%	-2.49%	+2.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	1.80%	-1.80%

Volatility

CSBG.NEO vs. ZGRO.TO - Volatility Comparison

The current volatility for CIBC Sustainable Balanced Growth Solution ETF (CSBG.NEO) is 0.49%, while BMO Growth ETF (ZGRO.TO) has a volatility of 3.69%. This indicates that CSBG.NEO experiences smaller price fluctuations and is considered to be less risky than ZGRO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSBG.NEO	ZGRO.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.49%	3.69%	-3.20%
Volatility (6M) Calculated over the trailing 6-month period	0.49%	10.20%	-9.71%
Volatility (1Y) Calculated over the trailing 1-year period	0.49%	12.03%	-11.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.11%	11.23%	-10.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.11%	13.19%	-12.08%

CSBG.NEO vs. ZGRO.TO - Expense Ratio Comparison

CSBG.NEO has a 0.90% expense ratio, which is higher than ZGRO.TO's 0.18% expense ratio.

Dividends

CSBG.NEO vs. ZGRO.TO - Dividend Comparison

CSBG.NEO's dividend yield for the trailing twelve months is around 0.48%, less than ZGRO.TO's 1.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
CSBG.NEO CIBC Sustainable Balanced Growth Solution ETF	0.48%	0.00%	1.16%	1.21%	0.27%	0.00%	0.00%	0.00%
ZGRO.TO BMO Growth ETF	1.43%	3.38%	5.76%	6.81%	7.63%	6.65%	7.47%	6.95%

Frequently Asked Questions

Can I hold both CSBG.NEO and ZGRO.TO in my portfolio?

CSBG.NEO and ZGRO.TO have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CSBG.NEO or ZGRO.TO?

On fees, ZGRO.TO is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CSBG.NEO or ZGRO.TO?

ZGRO.TO is cheaper with a 0.18% expense ratio, compared with 0.90% for CSBG.NEO.

What is the main difference between CSBG.NEO and ZGRO.TO?

CSBG.NEO is categorized as Diversified Portfolio, while ZGRO.TO is Global Allocation. They also come from different issuers: CIBC and BMO. Their fees differ too: 0.90% for CSBG.NEO and 0.18% for ZGRO.TO.