DCG.TO vs. ZBI.TO
DCG.TO (Desjardins 1-5 Year Laddered Canadian Government Bond Index ETF) and ZBI.TO (BMO Canadian Bank Income Index ETF) are both Canadian Government Bonds funds. DCG.TO is actively managed, while ZBI.TO is passively managed. Over the past 3 years, DCG.TO returned 4.52%/yr vs 8.09%/yr for ZBI.TO. At a 0.37 correlation, their price movements are largely independent.
Performance
DCG.TO vs. ZBI.TO - Performance Comparison
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Returns By Period
In the year-to-date period, DCG.TO achieves a 1.27% return, which is significantly lower than ZBI.TO's 2.08% return.
DCG.TO
- 1D
- 0.16%
- 1M
- -0.03%
- 6M
- 0.89%
- YTD
- 1.27%
- 1Y
- 3.26%
- 3Y*
- 4.52%
- 5Y*
- 1.70%
- 10Y*
- —
ZBI.TO
- 1D
- 0.10%
- 1M
- 0.25%
- 6M
- 1.65%
- YTD
- 2.08%
- 1Y
- 4.79%
- 3Y*
- 8.09%
- 5Y*
- —
- 10Y*
- —
DCG.TO vs. ZBI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DCG.TO Desjardins 1-5 Year Laddered Canadian Government Bond Index ETF | 1.27% | 3.26% | 5.08% | 4.55% | -3.00% |
ZBI.TO BMO Canadian Bank Income Index ETF | 2.08% | 4.79% | 12.50% | 6.85% | -7.29% |
Correlation
The correlation between DCG.TO and ZBI.TO is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2022 | 0.37 |
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Return for Risk
DCG.TO vs. ZBI.TO — Risk / Return Rank
DCG.TO
ZBI.TO
DCG.TO vs. ZBI.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Desjardins 1-5 Year Laddered Canadian Government Bond Index ETF (DCG.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.
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.
| DCG.TO | ZBI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.96 | ||
| Sortino ratioReturn per unit of downside risk | -1.42 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.51 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.04 | 3.98 | -1.94 |
| Martin ratioReturn relative to average drawdown | 6.50 | 18.04 | -11.54 |
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Drawdowns
DCG.TO vs. ZBI.TO - Drawdown Comparison
The maximum DCG.TO drawdown since its inception was -8.19%, roughly equal to the maximum ZBI.TO drawdown of -8.31%. Use the drawdown chart below to compare losses from any high point for DCG.TO and ZBI.TO.
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Drawdown Indicators
| DCG.TO | ZBI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.19% | -8.31% | +0.12% |
Max Drawdown (1Y)Largest decline over 1 year | -1.61% | -1.21% | -0.40% |
Max Drawdown (3Y)Largest decline over 3 years | -1.61% | -1.47% | -0.14% |
Max Drawdown (5Y)Largest decline over 5 years | -7.39% | — | — |
Current DrawdownCurrent decline from peak | -0.22% | -0.07% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -1.82% | -2.25% | +0.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.50% | 0.27% | +0.23% |
Volatility
DCG.TO vs. ZBI.TO - Volatility Comparison
Desjardins 1-5 Year Laddered Canadian Government Bond Index ETF (DCG.TO) has a higher volatility of 0.58% compared to BMO Canadian Bank Income Index ETF (ZBI.TO) at 0.49%. This indicates that DCG.TO's price experiences larger fluctuations and is considered to be riskier 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
| DCG.TO | ZBI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.58% | 0.49% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 1.73% | 1.51% | +0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.43% | 2.09% | +0.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.17% | 3.62% | -0.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.86% | 3.62% | -0.76% |
Dividends
DCG.TO vs. ZBI.TO - Dividend Comparison
DCG.TO's dividend yield for the trailing twelve months is around 2.18%, less than ZBI.TO's 4.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DCG.TO Desjardins 1-5 Year Laddered Canadian Government Bond Index ETF | 2.18% | 2.23% | 2.26% | 2.20% | 2.79% | 2.56% | 3.08% | 3.14% | 3.16% | 2.30% |
ZBI.TO BMO Canadian Bank Income Index ETF | 4.35% | 4.02% | 3.36% | 3.58% | 2.66% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DCG.TO and ZBI.TO have a correlation of 0.45, 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: Desjardins and BMO.
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