HBIE.TO vs. ZMI.TO
HBIE.TO (Harvest Balanced Income & Growth Enhanced ETF) and ZMI.TO (BMO Monthly Income ETF) are both Diversified Portfolio funds. Both are actively managed. Over the past year, HBIE.TO returned 15.23% vs 14.97% for ZMI.TO. A 0.61 correlation means they provide meaningful diversification when combined.
Performance
HBIE.TO vs. ZMI.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HBIE.TO achieves a 7.09% return, which is significantly lower than ZMI.TO's 9.82% return.
HBIE.TO
- 1D
- 0.04%
- 1M
- -0.41%
- 6M
- 6.46%
- YTD
- 7.09%
- 1Y
- 15.23%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZMI.TO
- 1D
- 0.25%
- 1M
- 0.15%
- 6M
- 7.61%
- YTD
- 9.82%
- 1Y
- 14.97%
- 3Y*
- 12.42%
- 5Y*
- 7.59%
- 10Y*
- 6.63%
HBIE.TO vs. ZMI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HBIE.TO Harvest Balanced Income & Growth Enhanced ETF | 7.09% | 10.30% | 6.94% |
ZMI.TO BMO Monthly Income ETF | 9.82% | 8.04% | 11.25% |
Correlation
The correlation between HBIE.TO and ZMI.TO is 0.67, 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 | 0.67 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2024 | 0.61 |
The correlation between HBIE.TO and ZMI.TO has been stable across timeframes, ranging from 0.61 to 0.67 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HBIE.TO vs. ZMI.TO — Risk / Return Rank
HBIE.TO
ZMI.TO
HBIE.TO vs. ZMI.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 Monthly Income ETF (ZMI.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 | ZMI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.43 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | 3.16 | -0.24 |
| Martin ratioReturn relative to average drawdown | 12.42 | 10.28 | +2.14 |
Loading charts...
Drawdowns
HBIE.TO vs. ZMI.TO - Drawdown Comparison
The maximum HBIE.TO drawdown since its inception was -10.29%, smaller than the maximum ZMI.TO drawdown of -26.64%. Use the drawdown chart below to compare losses from any high point for HBIE.TO and ZMI.TO.
Loading charts...
Drawdown Indicators
| HBIE.TO | ZMI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.29% | -26.64% | +16.35% |
Max Drawdown (1Y)Largest decline over 1 year | -5.24% | -4.75% | -0.49% |
Max Drawdown (3Y)Largest decline over 3 years | — | -8.80% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -12.68% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.64% | — |
Current DrawdownCurrent decline from peak | -0.94% | -0.99% | +0.05% |
Average DrawdownAverage peak-to-trough decline | -1.75% | -2.08% | +0.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 1.46% | -0.23% |
Volatility
HBIE.TO vs. ZMI.TO - Volatility Comparison
Harvest Balanced Income & Growth Enhanced ETF (HBIE.TO) has a higher volatility of 2.60% compared to BMO Monthly Income ETF (ZMI.TO) at 1.27%. This indicates that HBIE.TO's price experiences larger fluctuations and is considered to be riskier than ZMI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HBIE.TO | ZMI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.60% | 1.27% | +1.33% |
Volatility (6M)Calculated over the trailing 6-month period | 7.51% | 5.17% | +2.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.85% | 7.21% | +1.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.67% | 7.45% | +2.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.67% | 8.86% | +0.81% |
Dividends
HBIE.TO vs. ZMI.TO - Dividend Comparison
HBIE.TO's dividend yield for the trailing twelve months is around 9.95%, more than ZMI.TO's 3.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HBIE.TO Harvest Balanced Income & Growth Enhanced ETF | 9.95% | 10.12% | 7.56% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZMI.TO BMO Monthly Income ETF | 3.87% | 4.67% | 4.82% | 5.09% | 4.63% | 3.82% | 4.34% | 4.37% | 4.72% | 4.18% | 4.01% | 4.01% |
Frequently Asked Questions
HBIE.TO and ZMI.TO have a correlation of 0.67, 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.
Find the right allocation for HBIE.TO and ZMI.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer