ESGF.TO vs. DXV.TO

Last updated Jul 25, 2026

ESGF.TO (BMO ESG US Corporate Bond Hedged to CAD Index ETF) and DXV.TO (Dynamic Active Ultra Short Term Bond ETF) are both exchange-traded funds - ESGF.TO is a Corporate Bonds fund tracking the Bloomberg MSCI US Corporate Sustainability SRI Index, while DXV.TO is a Ultrashort Bond fund actively managed by 1832 Asset Management L.P. (Dynamic Funds). ESGF.TO is passively managed, while DXV.TO is actively managed. Over the past 5 years, ESGF.TO returned -2.30%/yr vs 3.70%/yr for DXV.TO. At a correlation of -0.00, they often move in opposite directions. ESGF.TO charges 0.23%/yr vs 0.28%/yr for DXV.TO.

Performance

ESGF.TO vs. DXV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO ESG US Corporate Bond Hedged to CAD Index ETF (ESGF.TO) and Dynamic Active Ultra Short Term Bond ETF (DXV.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ESGF.TO achieves a -1.95% return, which is significantly lower than DXV.TO's 1.66% return.

ESGF.TO

• 1D: -0.56%
• 1M: -2.08%
• 6M: -2.36%
• YTD: -1.95%
• 1Y: 0.65%
• 3Y*: 1.48%
• 5Y*: -2.30%
• 10Y*: —
• ALL TIME*: -0.61%

DXV.TO

• 1D: 0.00%
• 1M: 0.30%
• 6M: 1.40%
• YTD: 1.66%
• 1Y: 3.31%
• 3Y*: 4.62%
• 5Y*: 3.70%
• 10Y*: —
• ALL TIME*: 3.11%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DXV.TO Dynamic Active Ultra Short Term Bond ETF	CA$200.22K	CA$234.39K	CA$329.07K
ESGF.TO BMO ESG US Corporate Bond Hedged to CAD Index ETF	CA$4.55K	CA$3.81K	CA$4.65K

ESGF.TO vs. DXV.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ESGF.TO BMO ESG US Corporate Bond Hedged to CAD Index ETF	-1.95%	5.25%	-2.92%	7.28%	-15.76%	-3.12%	9.56%
DXV.TO Dynamic Active Ultra Short Term Bond ETF	1.66%	4.04%	5.84%	6.04%	1.49%	-0.21%	3.49%

Correlation

The correlation between ESGF.TO and DXV.TO is 0.07, 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	0.07
Correlation (3Y) Calculated over the trailing 3-year period	-0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.00
Correlation (All Time) Calculated using the full available price history since Jan 21, 2020	-0.00

The correlation between ESGF.TO and DXV.TO shifts across timeframes, from -0.05 (3 years) to 0.07 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

ESGF.TO vs. DXV.TO — Risk / Return Rank

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

ESGF.TO

ESGF.TO Risk / Return Rank: 13
ESGF.TO Sharpe Ratio Rank: 14
ESGF.TO Sortino Ratio Rank: 12
ESGF.TO Omega Ratio Rank: 12
ESGF.TO Calmar Ratio Rank: 14
ESGF.TO Martin Ratio Rank: 14

DXV.TO

DXV.TO Risk / Return Rank: 92
DXV.TO Sharpe Ratio Rank: 86
DXV.TO Sortino Ratio Rank: 90
DXV.TO Omega Ratio Rank: 88
DXV.TO Calmar Ratio Rank: 98
DXV.TO Martin Ratio Rank: 97

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.

ESGF.TO vs. DXV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO ESG US Corporate Bond Hedged to CAD Index ETF (ESGF.TO) and Dynamic Active Ultra Short Term Bond ETF (DXV.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.

	ESGF.TO	DXV.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.09	2.03	-1.94
Sortino ratio: Return per unit of downside risk	0.17	3.12	-2.95
Omega ratio: Gain probability vs. loss probability	1.02	1.40	-0.38
Calmar ratio: Return relative to maximum drawdown	0.14	10.92	-10.78
Martin ratio: Return relative to average drawdown	0.32	36.56	-36.24

ESGF.TO vs. DXV.TO - Sharpe Ratio Comparison

The current ESGF.TO Sharpe Ratio is 0.09, which is lower than the DXV.TO Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of ESGF.TO and DXV.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

ESGF.TO vs. DXV.TO - Drawdown Comparison

The maximum ESGF.TO drawdown since its inception was -23.55%, which is greater than DXV.TO's maximum drawdown of -11.62%. Use the drawdown chart below to compare losses from any high point for ESGF.TO and DXV.TO.

Drawdown Indicators

	ESGF.TO	DXV.TO	Difference
Max Drawdown Largest peak-to-trough decline	-23.55%	-11.62%	-11.93%
Max Drawdown (1Y) Largest decline over 1 year	-3.23%	-0.30%	-2.93%
Max Drawdown (3Y) Largest decline over 3 years	-8.77%	-0.66%	-8.11%
Max Drawdown (5Y) Largest decline over 5 years	-23.18%	-2.71%	-20.47%
Current Drawdown Current decline from peak	-12.29%	-0.05%	-12.24%
Average Drawdown Average peak-to-trough decline	-10.60%	-0.38%	-10.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.41%	0.09%	+1.32%

Volatility

ESGF.TO vs. DXV.TO - Volatility Comparison

BMO ESG US Corporate Bond Hedged to CAD Index ETF (ESGF.TO) has a higher volatility of 2.17% compared to Dynamic Active Ultra Short Term Bond ETF (DXV.TO) at 0.48%. This indicates that ESGF.TO's price experiences larger fluctuations and is considered to be riskier than DXV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ESGF.TO	DXV.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.17%	0.48%	+1.69%
Volatility (6M) Calculated over the trailing 6-month period	3.81%	1.24%	+2.57%
Volatility (1Y) Calculated over the trailing 1-year period	4.93%	1.63%	+3.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.17%	3.01%	+12.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.66%	4.57%	+11.09%

ESGF.TO vs. DXV.TO - Expense Ratio Comparison

ESGF.TO has a 0.23% expense ratio, which is lower than DXV.TO's 0.28% expense ratio.

Dividends

ESGF.TO vs. DXV.TO - Dividend Comparison

ESGF.TO's dividend yield for the trailing twelve months is around 4.47%, more than DXV.TO's 3.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DXV.TO Dynamic Active Ultra Short Term Bond ETF	3.10%	3.35%	5.32%	6.33%	3.98%	0.69%	1.89%	2.25%	1.78%
ESGF.TO BMO ESG US Corporate Bond Hedged to CAD Index ETF	4.47%	4.14%	4.08%	4.06%	3.77%	2.93%	2.75%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ESGF.TO and DXV.TO in my portfolio?

ESGF.TO and DXV.TO have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ESGF.TO or DXV.TO?

On fees, ESGF.TO is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ESGF.TO or DXV.TO?

ESGF.TO is cheaper with a 0.23% expense ratio, compared with 0.28% for DXV.TO.

What is the main difference between ESGF.TO and DXV.TO?

ESGF.TO is categorized as Corporate Bonds, while DXV.TO is Ultrashort Bond. They also come from different issuers: BMO and 1832 Asset Management L.P. (Dynamic Funds). Their fees differ too: 0.23% for ESGF.TO and 0.28% for DXV.TO.