MUMC.TO vs. ZMID.TO
MUMC.TO (Manulife Multifactor U.S. Mid Cap Index ETF Hedged) and ZMID.TO (BMO S&P US Mid Cap Index ETF) are both Mid Cap Blend Equities funds. Over the past 5 years, MUMC.TO returned 6.15%/yr vs 10.72%/yr for ZMID.TO. At a 0.40 correlation, their price movements are largely independent.
Performance
MUMC.TO vs. ZMID.TO - Performance Comparison
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Returns By Period
In the year-to-date period, MUMC.TO achieves a 10.94% return, which is significantly lower than ZMID.TO's 17.59% return.
MUMC.TO
- 1D
- -0.79%
- 1M
- -0.28%
- 6M
- 7.47%
- YTD
- 10.94%
- 1Y
- 14.50%
- 3Y*
- 11.18%
- 5Y*
- 6.15%
- 10Y*
- —
ZMID.TO
- 1D
- -0.33%
- 1M
- -0.27%
- 6M
- 10.47%
- YTD
- 17.59%
- 1Y
- 23.28%
- 3Y*
- 15.31%
- 5Y*
- 10.72%
- 10Y*
- —
MUMC.TO vs. ZMID.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MUMC.TO Manulife Multifactor U.S. Mid Cap Index ETF Hedged | 10.94% | 4.82% | 13.82% | 13.06% | -17.20% | 24.09% | 9.22% |
ZMID.TO BMO S&P US Mid Cap Index ETF | 17.59% | 0.83% | 23.12% | 14.42% | -8.41% | 21.96% | 11.85% |
Correlation
The correlation between MUMC.TO and ZMID.TO is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2020 | 0.40 |
The correlation between MUMC.TO and ZMID.TO shifts across timeframes, from 0.23 (1 year) to 0.43 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
MUMC.TO vs. ZMID.TO — Risk / Return Rank
MUMC.TO
ZMID.TO
MUMC.TO vs. ZMID.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Manulife Multifactor U.S. Mid Cap Index ETF Hedged (MUMC.TO) and BMO S&P US Mid Cap Index ETF (ZMID.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.
| MUMC.TO | ZMID.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.25 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | 2.68 | -1.28 |
| Martin ratioReturn relative to average drawdown | 4.17 | 10.34 | -6.18 |
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Drawdowns
MUMC.TO vs. ZMID.TO - Drawdown Comparison
The maximum MUMC.TO drawdown since its inception was -38.47%, which is greater than ZMID.TO's maximum drawdown of -24.51%. Use the drawdown chart below to compare losses from any high point for MUMC.TO and ZMID.TO.
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Drawdown Indicators
| MUMC.TO | ZMID.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.47% | -24.51% | -13.96% |
Max Drawdown (1Y)Largest decline over 1 year | -10.38% | -8.72% | -1.66% |
Max Drawdown (3Y)Largest decline over 3 years | -21.77% | -23.53% | +1.76% |
Max Drawdown (5Y)Largest decline over 5 years | -24.62% | -23.53% | -1.09% |
Current DrawdownCurrent decline from peak | -1.78% | -3.05% | +1.27% |
Average DrawdownAverage peak-to-trough decline | -6.49% | -5.67% | -0.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.49% | 2.26% | +1.23% |
Volatility
MUMC.TO vs. ZMID.TO - Volatility Comparison
The current volatility for Manulife Multifactor U.S. Mid Cap Index ETF Hedged (MUMC.TO) is 3.17%, while BMO S&P US Mid Cap Index ETF (ZMID.TO) has a volatility of 4.60%. This indicates that MUMC.TO experiences smaller price fluctuations and is considered to be less risky than ZMID.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MUMC.TO | ZMID.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.17% | 4.60% | -1.43% |
Volatility (6M)Calculated over the trailing 6-month period | 10.51% | 12.49% | -1.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.94% | 16.53% | +1.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.58% | 18.12% | +0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.45% | 19.40% | +0.05% |
Dividends
MUMC.TO vs. ZMID.TO - Dividend Comparison
MUMC.TO's dividend yield for the trailing twelve months is around 0.81%, less than ZMID.TO's 0.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
MUMC.TO Manulife Multifactor U.S. Mid Cap Index ETF Hedged | 0.81% | 1.00% | 0.70% | 1.05% | 0.86% | 0.63% | 0.90% | 0.90% | 1.19% | 0.73% |
ZMID.TO BMO S&P US Mid Cap Index ETF | 0.91% | 1.08% | 1.14% | 1.67% | 1.39% | 1.03% | 1.24% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MUMC.TO and ZMID.TO have a correlation of 0.23, 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: Manulife and BMO.
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