MCAD.TO vs. ZMMK.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Evolve Premium Cash Management ETF (MCAD.TO) and BMO Money Market Fund ETF Series (ZMMK.TO).

MCAD.TO is an actively managed fund by Evolve. It was launched on May 26, 2023. ZMMK.TO is an actively managed fund by BMO. It was launched on Nov 28, 2021.

Performance

MCAD.TO vs. ZMMK.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Evolve Premium Cash Management ETF (MCAD.TO) and BMO Money Market Fund ETF Series (ZMMK.TO). The values are adjusted to include any dividend payments, if applicable.

MCAD.TO vs. ZMMK.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MCAD.TO Evolve Premium Cash Management ETF	0.56%	2.85%	4.88%	2.30%
ZMMK.TO BMO Money Market Fund ETF Series	0.57%	2.77%	4.94%	2.44%

Returns By Period

The year-to-date returns for both investments are quite close, with MCAD.TO having a 0.56% return and ZMMK.TO slightly higher at 0.57%.

MCAD.TO

• 1D: 0.02%
• 1M: 0.19%
• YTD: 0.56%
• 6M: 1.19%
• 1Y: 2.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ZMMK.TO

• 1D: 0.02%
• 1M: 0.20%
• YTD: 0.57%
• 6M: 1.20%
• 1Y: 2.62%
• 3Y*: 4.00%
• 5Y*: —
• 10Y*: —

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

MCAD.TO vs. ZMMK.TO - Expense Ratio Comparison

MCAD.TO has a 0.20% expense ratio, which is higher than ZMMK.TO's 0.13% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

MCAD.TO

Evolve Premium Cash Management ETF

ZMMK.TO

BMO Money Market Fund ETF Series

Return for Risk

MCAD.TO vs. ZMMK.TO — Risk / Return Rank

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

MCAD.TO

MCAD.TO Risk / Return Rank: 100
MCAD.TO Sharpe Ratio Rank: 100
MCAD.TO Sortino Ratio Rank: 100
MCAD.TO Omega Ratio Rank: 100
MCAD.TO Calmar Ratio Rank: 100
MCAD.TO Martin Ratio Rank: 100

ZMMK.TO

ZMMK.TO Risk / Return Rank: 100
ZMMK.TO Sharpe Ratio Rank: 100
ZMMK.TO Sortino Ratio Rank: 100
ZMMK.TO Omega Ratio Rank: 100
ZMMK.TO Calmar Ratio Rank: 100
ZMMK.TO Martin Ratio Rank: 100

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.

MCAD.TO vs. ZMMK.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve Premium Cash Management ETF (MCAD.TO) and BMO Money Market Fund ETF Series (ZMMK.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.

	MCAD.TO	ZMMK.TO	Difference
Sharpe ratio Return per unit of total volatility	6.90	10.17	-3.28
Sortino ratio Return per unit of downside risk	10.78	25.94	-15.16
Omega ratio Gain probability vs. loss probability	5.69	6.05	-0.36
Calmar ratio Return relative to maximum drawdown	16.27	86.98	-70.71
Martin ratio Return relative to average drawdown	93.39	406.21	-312.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MCAD.TO vs. ZMMK.TO - Sharpe Ratio Comparison

The current MCAD.TO Sharpe Ratio is 6.90, which is lower than the ZMMK.TO Sharpe Ratio of 10.17. The chart below compares the historical Sharpe Ratios of MCAD.TO and ZMMK.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MCAD.TO	ZMMK.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	6.90	10.17	-3.28
Sharpe Ratio (All Time) Calculated using the full available price history	5.85	10.37	-4.52

Correlation

The correlation between MCAD.TO and ZMMK.TO is -0.02. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

MCAD.TO vs. ZMMK.TO - Dividend Comparison

MCAD.TO's dividend yield for the trailing twelve months is around 2.57%, less than ZMMK.TO's 2.68% yield.

	TTM	2025	2024	2023	2022	2021
MCAD.TO Evolve Premium Cash Management ETF	2.57%	2.83%	4.78%	2.56%	0.00%	0.00%
ZMMK.TO BMO Money Market Fund ETF Series	2.68%	3.02%	4.66%	4.98%	1.95%	0.04%

Drawdowns

MCAD.TO vs. ZMMK.TO - Drawdown Comparison

The maximum MCAD.TO drawdown since its inception was -0.43%, which is greater than ZMMK.TO's maximum drawdown of -0.16%. Use the drawdown chart below to compare losses from any high point for MCAD.TO and ZMMK.TO.

Drawdown Indicators

	MCAD.TO	ZMMK.TO	Difference
Max Drawdown Largest peak-to-trough decline	-0.43%	-0.16%	-0.27%
Max Drawdown (1Y) Largest decline over 1 year	-0.16%	-0.03%	-0.13%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.02%	0.00%	-0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.03%	0.01%	+0.02%

Volatility

MCAD.TO vs. ZMMK.TO - Volatility Comparison

The current volatility for Evolve Premium Cash Management ETF (MCAD.TO) is 0.04%, while BMO Money Market Fund ETF Series (ZMMK.TO) has a volatility of 0.08%. This indicates that MCAD.TO experiences smaller price fluctuations and is considered to be less risky than ZMMK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MCAD.TO	ZMMK.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.04%	0.08%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	0.28%	0.20%	+0.08%
Volatility (1Y) Calculated over the trailing 1-year period	0.38%	0.26%	+0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.77%	0.34%	+0.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.77%	0.34%	+0.43%