HBIE.TO vs. ZESG.TO
HBIE.TO (Harvest Balanced Income & Growth Enhanced ETF) and ZESG.TO (BMO Balanced ESG ETF) are both Diversified Portfolio funds. Both are actively managed. Over the past year, HBIE.TO returned 15.23% vs -60.94% for ZESG.TO. A 0.52 correlation means they provide meaningful diversification when combined.
Performance
HBIE.TO vs. ZESG.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with HBIE.TO having a 7.09% return and ZESG.TO slightly higher at 7.43%.
HBIE.TO
- 1D
- 0.04%
- 1M
- -0.41%
- 6M
- 6.46%
- YTD
- 7.09%
- 1Y
- 15.23%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZESG.TO
- 1D
- 0.20%
- 1M
- 0.36%
- 6M
- 5.63%
- YTD
- 7.43%
- 1Y
- -60.94%
- 3Y*
- -20.70%
- 5Y*
- -13.12%
- 10Y*
- —
HBIE.TO vs. ZESG.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HBIE.TO Harvest Balanced Income & Growth Enhanced ETF | 7.09% | 10.30% | 6.94% |
ZESG.TO BMO Balanced ESG ETF | 7.43% | -62.39% | 11.26% |
Correlation
The correlation between HBIE.TO and ZESG.TO is 0.69, 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 | 0.69 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2024 | 0.52 |
The correlation between HBIE.TO and ZESG.TO shifts across timeframes, from 0.52 (all time) to 0.69 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
HBIE.TO vs. ZESG.TO — Risk / Return Rank
HBIE.TO
ZESG.TO
HBIE.TO vs. ZESG.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harvest Balanced Income & Growth Enhanced ETF (HBIE.TO) and BMO Balanced ESG ETF (ZESG.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.
| HBIE.TO | ZESG.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.88 | ||
| Sortino ratioReturn per unit of downside risk | -0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 2.28 | -0.96 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | -0.91 | +3.83 |
| Martin ratioReturn relative to average drawdown | 12.42 | -0.97 | +13.39 |
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Drawdowns
HBIE.TO vs. ZESG.TO - Drawdown Comparison
The maximum HBIE.TO drawdown since its inception was -10.29%, smaller than the maximum ZESG.TO drawdown of -66.88%. Use the drawdown chart below to compare losses from any high point for HBIE.TO and ZESG.TO.
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Drawdown Indicators
| HBIE.TO | ZESG.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.29% | -66.88% | +56.59% |
Max Drawdown (1Y)Largest decline over 1 year | -5.24% | -66.88% | +61.64% |
Max Drawdown (3Y)Largest decline over 3 years | — | -66.88% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -66.88% | — |
Current DrawdownCurrent decline from peak | -0.94% | -61.63% | +60.69% |
Average DrawdownAverage peak-to-trough decline | -1.75% | -13.62% | +11.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 63.16% | -61.93% |
Volatility
HBIE.TO vs. ZESG.TO - Volatility Comparison
Harvest Balanced Income & Growth Enhanced ETF (HBIE.TO) has a higher volatility of 2.60% compared to BMO Balanced ESG ETF (ZESG.TO) at 1.93%. This indicates that HBIE.TO's price experiences larger fluctuations and is considered to be riskier than ZESG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HBIE.TO | ZESG.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.60% | 1.93% | +0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 7.51% | 6.44% | +1.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.85% | 425.87% | -417.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.67% | 191.09% | -181.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.67% | 167.94% | -158.27% |
Dividends
HBIE.TO vs. ZESG.TO - Dividend Comparison
HBIE.TO's dividend yield for the trailing twelve months is around 9.95%, more than ZESG.TO's 1.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
HBIE.TO Harvest Balanced Income & Growth Enhanced ETF | 9.95% | 10.12% | 7.56% | 0.00% | 0.00% | 0.00% | 0.00% |
ZESG.TO BMO Balanced ESG ETF | 1.73% | 3.40% | 1.89% | 2.22% | 2.53% | 2.05% | 2.27% |
Frequently Asked Questions
HBIE.TO and ZESG.TO have a correlation of 0.69, 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: Harvest and BMO.
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