GMOV vs. ZVU.TO

Last updated Jun 5, 2026

GMOV (GMO U.S. Value ETF) and ZVU.TO (BMO MSCI USA Value ETF) are both Large Cap Value Equities funds - GMOV tracks the MSCI USA Value (Gross) while ZVU.TO tracks the MSCI USA Enhanced Value Capped Index. Both are passively managed. Over the past year, GMOV returned 28.90% vs 78.79% for ZVU.TO. A 0.52 correlation means they provide meaningful diversification when combined. GMOV charges 0.50%/yr vs 0.33%/yr for ZVU.TO.

Performance

GMOV vs. ZVU.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GMO U.S. Value ETF (GMOV) and BMO MSCI USA Value ETF (ZVU.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

GMOV is traded in USD, while ZVU.TO is traded in CAD. To make them comparable, the ZVU.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, GMOV achieves a 11.41% return, which is significantly lower than ZVU.TO's 46.78% return.

GMOV

• 1D: 1.06%
• 1M: 3.06%
• YTD: 11.41%
• 6M: 12.96%
• 1Y: 28.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ZVU.TO

• 1D: -0.83%
• 1M: 15.09%
• YTD: 46.78%
• 6M: 42.69%
• 1Y: 78.79%
• 3Y*: 30.74%
• 5Y*: 14.15%
• 10Y*: —

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

GMOV vs. ZVU.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GMOV GMO U.S. Value ETF	11.41%	14.81%	-1.27%
ZVU.TO BMO MSCI USA Value ETF	46.78%	25.75%	-2.81%

Correlation

The correlation between GMOV and ZVU.TO is 0.54, 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	0.54
Correlation (All Time) Calculated using the full available price history since Oct 30, 2024	0.52

The correlation between GMOV and ZVU.TO has been stable across timeframes, ranging from 0.52 to 0.54 - a consistent structural relationship.

Return for Risk

GMOV vs. ZVU.TO — Risk / Return Rank

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

GMOV

GMOV Risk / Return Rank: 84
GMOV Sharpe Ratio Rank: 83
GMOV Sortino Ratio Rank: 88
GMOV Omega Ratio Rank: 80
GMOV Calmar Ratio Rank: 87
GMOV Martin Ratio Rank: 82

ZVU.TO

ZVU.TO Risk / Return Rank: 97
ZVU.TO Sharpe Ratio Rank: 97
ZVU.TO Sortino Ratio Rank: 97
ZVU.TO Omega Ratio Rank: 97
ZVU.TO Calmar Ratio Rank: 98
ZVU.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.

GMOV vs. ZVU.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO U.S. Value ETF (GMOV) and BMO MSCI USA Value ETF (ZVU.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.

	GMOV	ZVU.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.66	4.48	-1.82
Sortino ratio: Return per unit of downside risk	3.95	5.61	-1.66
Omega ratio: Gain probability vs. loss probability	1.47	1.78	-0.31
Calmar ratio: Return relative to maximum drawdown	4.78	11.07	-6.29
Martin ratio: Return relative to average drawdown	16.11	40.62	-24.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GMOV vs. ZVU.TO - Sharpe Ratio Comparison

The current GMOV Sharpe Ratio is 2.66, which is lower than the ZVU.TO Sharpe Ratio of 4.48. The chart below compares the historical Sharpe Ratios of GMOV and ZVU.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.

Sharpe Ratios by Period

	GMOV	ZVU.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.66	4.48	-1.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.06	0.62	+0.45

Drawdowns

GMOV vs. ZVU.TO - Drawdown Comparison

The maximum GMOV drawdown since its inception was -16.71%, smaller than the maximum ZVU.TO drawdown of -39.97%. Use the drawdown chart below to compare losses from any high point for GMOV and ZVU.TO.

Drawdown Indicators

	GMOV	ZVU.TO	Difference
Max Drawdown Largest peak-to-trough decline	-16.71%	-39.97%	+23.26%
Max Drawdown (1Y) Largest decline over 1 year	-6.08%	-7.16%	+1.08%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.39%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.23%	—
Current Drawdown Current decline from peak	0.00%	-1.08%	+1.08%
Average Drawdown Average peak-to-trough decline	-2.84%	-8.25%	+5.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.80%	1.95%	-0.15%

Volatility

GMOV vs. ZVU.TO - Volatility Comparison

The current volatility for GMO U.S. Value ETF (GMOV) is 2.34%, while BMO MSCI USA Value ETF (ZVU.TO) has a volatility of 8.68%. This indicates that GMOV experiences smaller price fluctuations and is considered to be less risky than ZVU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GMOV	ZVU.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.34%	8.68%	-6.34%
Volatility (6M) Calculated over the trailing 6-month period	7.32%	14.76%	-7.44%
Volatility (1Y) Calculated over the trailing 1-year period	10.92%	17.71%	-6.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.94%	17.75%	-2.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.94%	19.83%	-4.89%

GMOV vs. ZVU.TO - Expense Ratio Comparison

GMOV has a 0.50% expense ratio, which is higher than ZVU.TO's 0.33% expense ratio.

Dividends

GMOV vs. ZVU.TO - Dividend Comparison

GMOV's dividend yield for the trailing twelve months is around 2.00%, more than ZVU.TO's 1.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
GMOV GMO U.S. Value ETF	2.00%	1.98%	0.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ZVU.TO BMO MSCI USA Value ETF	1.06%	1.62%	2.13%	2.55%	2.45%	1.89%	2.38%	1.97%	1.98%

Frequently Asked Questions

Can I hold both GMOV and ZVU.TO in my portfolio?

GMOV and ZVU.TO have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GMOV or ZVU.TO?

On fees, ZVU.TO is cheaper at 0.33% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GMOV or ZVU.TO?

ZVU.TO is cheaper with a 0.33% expense ratio, compared with 0.50% for GMOV.

What is the main difference between GMOV and ZVU.TO?

GMOV tracks MSCI USA Value (Gross), while ZVU.TO tracks MSCI USA Enhanced Value Capped Index. They also come from different issuers: GMO and BMO. Their fees differ too: 0.50% for GMOV and 0.33% for ZVU.TO.