GGRO.TO vs. ZGRO.TO
GGRO.TO (iShares ESG Growth ETF Portfolio) and ZGRO.TO (BMO Growth ETF) are both exchange-traded funds - GGRO.TO is a Diversified Portfolio fund actively managed by iShares, while ZGRO.TO is a Global Allocation fund actively managed by BMO. Both are actively managed. Over the past 5 years, GGRO.TO returned 10.78%/yr vs 15.20%/yr for ZGRO.TO. A 0.68 correlation means they provide meaningful diversification when combined. GGRO.TO charges 0.25%/yr vs 0.18%/yr for ZGRO.TO.
Performance
GGRO.TO vs. ZGRO.TO - Performance Comparison
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Returns By Period
In the year-to-date period, GGRO.TO achieves a 13.25% return, which is significantly higher than ZGRO.TO's 11.48% return.
GGRO.TO
- 1D
- -0.24%
- 1M
- 0.08%
- 6M
- 10.59%
- YTD
- 13.25%
- 1Y
- 20.65%
- 3Y*
- 17.64%
- 5Y*
- 10.78%
- 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*
- —
GGRO.TO vs. ZGRO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GGRO.TO iShares ESG Growth ETF Portfolio | 13.25% | 14.25% | 20.49% | 19.17% | -14.12% | 15.53% | 7.20% |
ZGRO.TO BMO Growth ETF | 11.48% | 18.65% | 25.70% | 20.36% | -5.92% | 20.50% | 10.44% |
Correlation
The correlation between GGRO.TO and ZGRO.TO is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Sep 14, 2020 | 0.68 |
The correlation between GGRO.TO and ZGRO.TO has been stable across timeframes, ranging from 0.68 to 0.73 - a consistent structural relationship.
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Return for Risk
GGRO.TO vs. ZGRO.TO — Risk / Return Rank
GGRO.TO
ZGRO.TO
GGRO.TO vs. ZGRO.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares ESG Growth ETF Portfolio (GGRO.TO) 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.
| GGRO.TO | ZGRO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.35 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.68 | 3.40 | -0.72 |
| Martin ratioReturn relative to average drawdown | 10.54 | 12.98 | -2.43 |
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Drawdowns
GGRO.TO vs. ZGRO.TO - Drawdown Comparison
The maximum GGRO.TO drawdown since its inception was -22.12%, smaller than the maximum ZGRO.TO drawdown of -24.67%. Use the drawdown chart below to compare losses from any high point for GGRO.TO and ZGRO.TO.
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Drawdown Indicators
| GGRO.TO | ZGRO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.12% | -24.67% | +2.55% |
Max Drawdown (1Y)Largest decline over 1 year | -7.74% | -6.87% | -0.87% |
Max Drawdown (3Y)Largest decline over 3 years | -13.77% | -11.60% | -2.17% |
Max Drawdown (5Y)Largest decline over 5 years | -22.12% | -16.21% | -5.91% |
Current DrawdownCurrent decline from peak | -1.46% | -1.94% | +0.48% |
Average DrawdownAverage peak-to-trough decline | -5.15% | -2.49% | -2.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.96% | 1.80% | +0.16% |
Volatility
GGRO.TO vs. ZGRO.TO - Volatility Comparison
iShares ESG Growth ETF Portfolio (GGRO.TO) and BMO Growth ETF (ZGRO.TO) have volatilities of 3.79% and 3.69%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GGRO.TO | ZGRO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.79% | 3.69% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 10.32% | 10.20% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.67% | 12.03% | +0.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.13% | 11.23% | +3.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.30% | 13.19% | +3.11% |
GGRO.TO vs. ZGRO.TO - Expense Ratio Comparison
GGRO.TO has a 0.25% expense ratio, which is higher than ZGRO.TO's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GGRO.TO vs. ZGRO.TO - Dividend Comparison
GGRO.TO's dividend yield for the trailing twelve months is around 1.41%, less than ZGRO.TO's 1.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
GGRO.TO iShares ESG Growth ETF Portfolio | 1.41% | 1.52% | 1.63% | 1.89% | 1.69% | 1.44% | 0.83% | 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
GGRO.TO and ZGRO.TO have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
ZGRO.TO is cheaper with a 0.18% expense ratio, compared with 0.25% for GGRO.TO.
GGRO.TO is categorized as Diversified Portfolio, while ZGRO.TO is Global Allocation. They also come from different issuers: iShares and BMO. Their fees differ too: 0.25% for GGRO.TO and 0.18% for ZGRO.TO.
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