FLUR.NEO vs. ZXM.TO
FLUR.NEO (Franklin International Equity Index ETF) and ZXM.TO (CI Morningstar International Momentum Index ETF Common Units CAD Hedged) are both exchange-traded funds - FLUR.NEO is a Foreign Large Cap Equities fund tracking the Solactive GBS Developed Markets ex North America Large & Mid Cap CAD Index-NR, while ZXM.TO is a Momentum fund tracking the Morningstar Developed Markets ex-North America Target Momentum Index. Both are passively managed. Over the past 5 years, FLUR.NEO returned 11.25%/yr vs 13.07%/yr for ZXM.TO. At a 0.36 correlation, their price movements are largely independent. FLUR.NEO charges 0.27%/yr vs 0.67%/yr for ZXM.TO.
Performance
FLUR.NEO vs. ZXM.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FLUR.NEO achieves a 10.78% return, which is significantly lower than ZXM.TO's 12.14% return.
FLUR.NEO
- 1D
- 0.58%
- 1M
- 4.43%
- YTD
- 10.78%
- 6M
- 11.03%
- 1Y
- 23.83%
- 3Y*
- 18.43%
- 5Y*
- 11.25%
- 10Y*
- —
ZXM.TO
- 1D
- -0.17%
- 1M
- 0.99%
- YTD
- 12.14%
- 6M
- 14.09%
- 1Y
- 33.42%
- 3Y*
- 25.55%
- 5Y*
- 13.07%
- 10Y*
- 12.96%
FLUR.NEO vs. ZXM.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FLUR.NEO Franklin International Equity Index ETF | 10.78% | 25.68% | 12.42% | 12.87% | -9.30% | 14.74% | 9.77% | 14.40% |
ZXM.TO CI Morningstar International Momentum Index ETF Common Units CAD Hedged | 12.14% | 35.75% | 21.41% | 14.22% | -20.61% | 25.67% | 16.23% | 19.73% |
Correlation
The correlation between FLUR.NEO and ZXM.TO is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2019 | 0.36 |
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Return for Risk
FLUR.NEO vs. ZXM.TO — Risk / Return Rank
FLUR.NEO
ZXM.TO
FLUR.NEO vs. ZXM.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin International Equity Index ETF (FLUR.NEO) and CI Morningstar International Momentum Index ETF Common Units CAD Hedged (ZXM.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.
| FLUR.NEO | ZXM.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.68 | ||
| Sortino ratioReturn per unit of downside risk | -1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.48 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.13 | 3.24 | -1.11 |
| Martin ratioReturn relative to average drawdown | 8.26 | 12.97 | -4.71 |
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
| FLUR.NEO | ZXM.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.62 | 2.30 | -0.68 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.75 | 0.82 | -0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.78 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 0.74 | -0.02 |
Drawdowns
FLUR.NEO vs. ZXM.TO - Drawdown Comparison
The maximum FLUR.NEO drawdown since its inception was -30.20%, smaller than the maximum ZXM.TO drawdown of -35.22%. Use the drawdown chart below to compare losses from any high point for FLUR.NEO and ZXM.TO.
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Drawdown Indicators
| FLUR.NEO | ZXM.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.20% | -35.22% | +5.02% |
Max Drawdown (1Y)Largest decline over 1 year | -11.21% | -10.35% | -0.86% |
Max Drawdown (3Y)Largest decline over 3 years | -14.64% | -12.74% | -1.90% |
Max Drawdown (5Y)Largest decline over 5 years | -26.55% | -26.93% | +0.38% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.22% | — |
Current DrawdownCurrent decline from peak | -1.59% | -2.62% | +1.03% |
Average DrawdownAverage peak-to-trough decline | -4.83% | -6.44% | +1.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.89% | 2.58% | +0.31% |
Volatility
FLUR.NEO vs. ZXM.TO - Volatility Comparison
Franklin International Equity Index ETF (FLUR.NEO) has a higher volatility of 5.56% compared to CI Morningstar International Momentum Index ETF Common Units CAD Hedged (ZXM.TO) at 5.27%. This indicates that FLUR.NEO's price experiences larger fluctuations and is considered to be riskier than ZXM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLUR.NEO | ZXM.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.56% | 5.27% | +0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 11.28% | 12.92% | -1.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.75% | 14.60% | +0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.01% | 15.96% | -0.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.95% | 16.70% | +0.25% |
FLUR.NEO vs. ZXM.TO - Expense Ratio Comparison
FLUR.NEO has a 0.27% expense ratio, which is lower than ZXM.TO's 0.67% expense ratio.
Dividends
FLUR.NEO vs. ZXM.TO - Dividend Comparison
FLUR.NEO's dividend yield for the trailing twelve months is around 2.17%, less than ZXM.TO's 2.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLUR.NEO Franklin International Equity Index ETF | 2.17% | 2.40% | 2.76% | 2.71% | 4.16% | 1.85% | 1.97% | 3.07% | 0.00% | 0.00% | 0.00% | 0.00% |
ZXM.TO CI Morningstar International Momentum Index ETF Common Units CAD Hedged | 2.26% | 2.39% | 2.97% | 3.57% | 5.50% | 1.58% | 0.86% | 1.19% | 1.49% | 0.89% | 1.19% | 1.11% |
Frequently Asked Questions
FLUR.NEO and ZXM.TO have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLUR.NEO is cheaper at 0.27% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLUR.NEO is cheaper with a 0.27% expense ratio, compared with 0.67% for ZXM.TO.
FLUR.NEO is categorized as Foreign Large Cap Equities, while ZXM.TO is Momentum. FLUR.NEO tracks Solactive GBS Developed Markets ex North America Large & Mid Cap CAD Index-NR, while ZXM.TO tracks Morningstar Developed Markets ex-North America Target Momentum Index. They also come from different issuers: Franklin Templeton and CI Global Asset Management. Their fees differ too: 0.27% for FLUR.NEO and 0.67% for ZXM.TO.
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