HISU-U.TO vs. ZGLD.TO

Last updated Jun 4, 2026

HISU-U.TO (Evolve US High Interest Savings Account Fund) and ZGLD.TO (BMO Gold Bullion ETF (CAD Units)) are both exchange-traded funds - HISU-U.TO is a Money Market fund actively managed by Evolve, while ZGLD.TO is a Gold fund tracking the Gold Bullion. HISU-U.TO is actively managed, while ZGLD.TO is passively managed. Over the past year, HISU-U.TO returned 2.76% vs 32.19% for ZGLD.TO. At a 0.03 correlation, their price movements are largely independent. HISU-U.TO charges 0.15%/yr vs 0.23%/yr for ZGLD.TO.

Performance

HISU-U.TO vs. ZGLD.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Evolve US High Interest Savings Account Fund (HISU-U.TO) and BMO Gold Bullion ETF (CAD Units) (ZGLD.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, HISU-U.TO achieves a 1.04% return, which is significantly lower than ZGLD.TO's 3.06% return.

HISU-U.TO

• 1D: 0.01%
• 1M: 0.21%
• YTD: 1.04%
• 6M: 1.26%
• 1Y: 2.76%
• 3Y*: 3.39%
• 5Y*: —
• 10Y*: —

ZGLD.TO

• 1D: -1.10%
• 1M: -1.59%
• YTD: 3.06%
• 6M: 5.44%
• 1Y: 32.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HISU-U.TO vs. ZGLD.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HISU-U.TO Evolve US High Interest Savings Account Fund	1.04%	2.97%	2.96%
ZGLD.TO BMO Gold Bullion ETF (CAD Units)	3.06%	63.28%	20.20%

Correlation

The correlation between HISU-U.TO and ZGLD.TO is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (All Time) Calculated using the full available price history since Mar 12, 2024	0.03

Return for Risk

HISU-U.TO vs. ZGLD.TO — Risk / Return Rank

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

HISU-U.TO

HISU-U.TO Risk / Return Rank: 99
HISU-U.TO Sharpe Ratio Rank: 99
HISU-U.TO Sortino Ratio Rank: 99
HISU-U.TO Omega Ratio Rank: 99
HISU-U.TO Calmar Ratio Rank: 99
HISU-U.TO Martin Ratio Rank: 99

ZGLD.TO

ZGLD.TO Risk / Return Rank: 36
ZGLD.TO Sharpe Ratio Rank: 37
ZGLD.TO Sortino Ratio Rank: 33
ZGLD.TO Omega Ratio Rank: 41
ZGLD.TO Calmar Ratio Rank: 40
ZGLD.TO Martin Ratio Rank: 32

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.

HISU-U.TO vs. ZGLD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve US High Interest Savings Account Fund (HISU-U.TO) and BMO Gold Bullion ETF (CAD Units) (ZGLD.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.

	HISU-U.TO	ZGLD.TO	Difference
Sharpe ratio: Return per unit of total volatility	7.76	1.22	+6.54
Sortino ratio: Return per unit of downside risk	10.56	1.64	+8.93
Omega ratio: Gain probability vs. loss probability	4.05	1.24	+2.81
Calmar ratio: Return relative to maximum drawdown	31.52	1.69	+29.84
Martin ratio: Return relative to average drawdown	122.63	4.18	+118.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HISU-U.TO vs. ZGLD.TO - Sharpe Ratio Comparison

The current HISU-U.TO Sharpe Ratio is 7.76, which is higher than the ZGLD.TO Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of HISU-U.TO and ZGLD.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

	HISU-U.TO	ZGLD.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	7.76	1.22	+6.54
Sharpe Ratio (All Time) Calculated using the full available price history	8.23	1.70	+6.53

Drawdowns

HISU-U.TO vs. ZGLD.TO - Drawdown Comparison

The maximum HISU-U.TO drawdown since its inception was -0.12%, smaller than the maximum ZGLD.TO drawdown of -19.19%. Use the drawdown chart below to compare losses from any high point for HISU-U.TO and ZGLD.TO.

Drawdown Indicators

	HISU-U.TO	ZGLD.TO	Difference
Max Drawdown Largest peak-to-trough decline	-0.12%	-19.19%	+19.07%
Max Drawdown (1Y) Largest decline over 1 year	-0.09%	-19.19%	+19.10%
Max Drawdown (3Y) Largest decline over 3 years	-0.12%	—	—
Current Drawdown Current decline from peak	-0.02%	-17.72%	+17.70%
Average Drawdown Average peak-to-trough decline	-0.01%	-3.67%	+3.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	7.73%	-7.71%

Volatility

HISU-U.TO vs. ZGLD.TO - Volatility Comparison

The current volatility for Evolve US High Interest Savings Account Fund (HISU-U.TO) is 0.10%, while BMO Gold Bullion ETF (CAD Units) (ZGLD.TO) has a volatility of 5.59%. This indicates that HISU-U.TO experiences smaller price fluctuations and is considered to be less risky than ZGLD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HISU-U.TO	ZGLD.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.10%	5.59%	-5.49%
Volatility (6M) Calculated over the trailing 6-month period	0.23%	22.83%	-22.60%
Volatility (1Y) Calculated over the trailing 1-year period	0.36%	26.42%	-26.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.41%	21.92%	-21.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.41%	21.92%	-21.51%

HISU-U.TO vs. ZGLD.TO - Expense Ratio Comparison

HISU-U.TO has a 0.15% expense ratio, which is lower than ZGLD.TO's 0.23% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

HISU-U.TO vs. ZGLD.TO - Dividend Comparison

HISU-U.TO's dividend yield for the trailing twelve months is around 2.74%, while ZGLD.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
HISU-U.TO Evolve US High Interest Savings Account Fund	2.74%	2.93%	3.70%	3.85%	0.90%
ZGLD.TO BMO Gold Bullion ETF (CAD Units)	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HISU-U.TO and ZGLD.TO in my portfolio?

HISU-U.TO and ZGLD.TO have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HISU-U.TO or ZGLD.TO?

On fees, HISU-U.TO is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HISU-U.TO or ZGLD.TO?

HISU-U.TO is cheaper with a 0.15% expense ratio, compared with 0.23% for ZGLD.TO.

What is the main difference between HISU-U.TO and ZGLD.TO?

HISU-U.TO is categorized as Money Market, while ZGLD.TO is Gold. They also come from different issuers: Evolve and BMO. Their fees differ too: 0.15% for HISU-U.TO and 0.23% for ZGLD.TO.