LVHI vs. ZLB.TO

Last updated Jun 9, 2026

LVHI (Franklin International Low Volatility High Dividend Index ETF) and ZLB.TO (BMO Low Volatility Canadian Equity ETF) are both exchange-traded funds - LVHI is a Volatility Hedged Equity fund tracking the Franklin International Low Volatility High Dividend Hedged Index-NR, while ZLB.TO is a Canada Equities fund actively managed by BMO. LVHI is passively managed, while ZLB.TO is actively managed. Over the past 5 years, LVHI returned 15.67%/yr vs 7.91%/yr for ZLB.TO. At a 0.38 correlation, their price movements are largely independent. LVHI charges 0.40%/yr vs 0.39%/yr for ZLB.TO.

Performance

LVHI vs. ZLB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin International Low Volatility High Dividend Index ETF (LVHI) and BMO Low Volatility Canadian Equity ETF (ZLB.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, LVHI achieves a 11.45% return, which is significantly higher than ZLB.TO's 2.14% return.

LVHI

• 1D: 0.37%
• 1M: 0.77%
• YTD: 11.45%
• 6M: 13.55%
• 1Y: 29.27%
• 3Y*: 20.97%
• 5Y*: 15.67%
• 10Y*: —

ZLB.TO

• 1D: -0.93%
• 1M: -0.55%
• YTD: 2.14%
• 6M: 0.70%
• 1Y: 10.48%
• 3Y*: 13.02%
• 5Y*: 7.91%
• 10Y*: 9.42%

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

LVHI vs. ZLB.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LVHI Franklin International Low Volatility High Dividend Index ETF	11.45%	27.12%	14.81%	17.45%	3.84%	18.19%	-8.76%	18.35%	-5.22%	12.26%
ZLB.TO BMO Low Volatility Canadian Equity ETF	2.08%	26.16%	6.31%	12.07%	-6.29%	22.99%	3.98%	27.16%	-10.30%	19.18%

Correlation

The correlation between LVHI and ZLB.TO is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (All Time) Calculated using the full available price history since Jul 29, 2016	0.38

The correlation between LVHI and ZLB.TO shifts across timeframes, from 0.33 (1 year) to 0.45 (3 years), reflecting how their relationship changes across market environments.

LVHI vs. ZLB.TO - Sectors Allocation Comparison

Sectors	LVHI	ZLB.TO
Financial Services	23.6%	23.9%
Energy	17.4%	-
Industrials	13.4%	10.0%
Utilities	10.4%	17.6%
Consumer Defensive	8.7%	18.3%
Healthcare	7.4%	-
Basic Materials	6.1%	6.2%
Communication Services	5.8%	9.3%
Consumer Cyclical	5.3%	8.5%
Real Estate	1.9%	4.3%
Technology	0.1%	1.9%

Return for Risk

LVHI vs. ZLB.TO — Risk / Return Rank

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

LVHI

LVHI Risk / Return Rank: 92
LVHI Sharpe Ratio Rank: 93
LVHI Sortino Ratio Rank: 93
LVHI Omega Ratio Rank: 93
LVHI Calmar Ratio Rank: 89
LVHI Martin Ratio Rank: 91

ZLB.TO

ZLB.TO Risk / Return Rank: 45
ZLB.TO Sharpe Ratio Rank: 43
ZLB.TO Sortino Ratio Rank: 40
ZLB.TO Omega Ratio Rank: 45
ZLB.TO Calmar Ratio Rank: 50
ZLB.TO Martin Ratio Rank: 45

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.

LVHI vs. ZLB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin International Low Volatility High Dividend Index ETF (LVHI) and BMO Low Volatility Canadian Equity ETF (ZLB.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.

	LVHI	ZLB.TO	Difference
Sharpe ratio: Return per unit of total volatility	3.10	1.05	+2.05
Sortino ratio: Return per unit of downside risk	4.24	1.46	+2.78
Omega ratio: Gain probability vs. loss probability	1.58	1.20	+0.38
Calmar ratio: Return relative to maximum drawdown	4.84	1.72	+3.12
Martin ratio: Return relative to average drawdown	19.99	4.69	+15.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LVHI vs. ZLB.TO - Sharpe Ratio Comparison

The current LVHI Sharpe Ratio is 3.10, which is higher than the ZLB.TO Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of LVHI and ZLB.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

	LVHI	ZLB.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.10	1.05	+2.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.42	0.68	+0.74
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	0.75	+0.06

Drawdowns

LVHI vs. ZLB.TO - Drawdown Comparison

The maximum LVHI drawdown since its inception was -32.31%, smaller than the maximum ZLB.TO drawdown of -39.55%. Use the drawdown chart below to compare losses from any high point for LVHI and ZLB.TO.

Drawdown Indicators

	LVHI	ZLB.TO	Difference
Max Drawdown Largest peak-to-trough decline	-32.31%	-39.55%	+7.24%
Max Drawdown (1Y) Largest decline over 1 year	-6.08%	-6.13%	+0.05%
Max Drawdown (3Y) Largest decline over 3 years	-11.99%	-12.27%	+0.28%
Max Drawdown (5Y) Largest decline over 5 years	-11.99%	-20.63%	+8.64%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.55%	—
Current Drawdown Current decline from peak	-1.79%	-2.58%	+0.79%
Average Drawdown Average peak-to-trough decline	-3.52%	-4.09%	+0.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.47%	2.24%	-0.77%

Volatility

LVHI vs. ZLB.TO - Volatility Comparison

The current volatility for Franklin International Low Volatility High Dividend Index ETF (LVHI) is 2.35%, while BMO Low Volatility Canadian Equity ETF (ZLB.TO) has a volatility of 2.82%. This indicates that LVHI experiences smaller price fluctuations and is considered to be less risky than ZLB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LVHI	ZLB.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.35%	2.82%	-0.47%
Volatility (6M) Calculated over the trailing 6-month period	7.58%	8.11%	-0.53%
Volatility (1Y) Calculated over the trailing 1-year period	9.50%	10.02%	-0.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.07%	11.65%	-0.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.76%	13.91%	-0.15%

LVHI vs. ZLB.TO - Expense Ratio Comparison

LVHI has a 0.40% expense ratio, which is higher than ZLB.TO's 0.39% expense ratio.

Dividends

LVHI vs. ZLB.TO - Dividend Comparison

LVHI's dividend yield for the trailing twelve months is around 4.79%, more than ZLB.TO's 1.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LVHI Franklin International Low Volatility High Dividend Index ETF	4.79%	4.92%	3.98%	8.12%	7.74%	4.13%	3.97%	6.67%	10.67%	3.38%	2.02%	0.00%
ZLB.TO BMO Low Volatility Canadian Equity ETF	1.91%	1.99%	2.37%	2.67%	2.66%	2.39%	2.83%	2.44%	2.76%	2.55%	2.94%	2.34%

Frequently Asked Questions

Can I hold both LVHI and ZLB.TO in my portfolio?

LVHI and ZLB.TO have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LVHI or ZLB.TO?

On fees, ZLB.TO is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LVHI or ZLB.TO?

ZLB.TO is cheaper with a 0.39% expense ratio, compared with 0.40% for LVHI.

What is the main difference between LVHI and ZLB.TO?

LVHI is categorized as Volatility Hedged Equity, while ZLB.TO is Canada Equities. They also come from different issuers: Franklin Templeton and BMO. Their fees differ too: 0.40% for LVHI and 0.39% for ZLB.TO.