PMNT.TO vs. ZST.TO
PMNT.TO (PIMCO Global Short Maturity Fund (Canada)) and ZST.TO (BMO Ultra Short-Term Bond ETF) are both Ultrashort Bond funds. Both are actively managed. Over the past 5 years, PMNT.TO returned 2.97%/yr vs 3.06%/yr for ZST.TO. At a 0.06 correlation, their price movements are largely independent. PMNT.TO charges 0.39%/yr vs 0.17%/yr for ZST.TO.
Performance
PMNT.TO vs. ZST.TO - Performance Comparison
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Returns By Period
In the year-to-date period, PMNT.TO achieves a 1.64% return, which is significantly higher than ZST.TO's 1.44% return.
PMNT.TO
- 1D
- 0.10%
- 1M
- 0.15%
- 6M
- 1.35%
- YTD
- 1.64%
- 1Y
- 2.52%
- 3Y*
- 4.19%
- 5Y*
- 2.97%
- 10Y*
- —
- ALL TIME*
- 2.53%
ZST.TO
- 1D
- 0.04%
- 1M
- 0.19%
- 6M
- 1.27%
- YTD
- 1.44%
- 1Y
- 1.74%
- 3Y*
- 3.80%
- 5Y*
- 3.06%
- 10Y*
- 2.38%
- ALL TIME*
- 1.60%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$53.98K | CA$50.33K | CA$54.94K | |
| CA$1.14M | CA$2.23M | CA$2.72M |
PMNT.TO vs. ZST.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PMNT.TO PIMCO Global Short Maturity Fund (Canada) | 1.64% | 3.11% | 5.26% | 5.42% | -0.37% | 0.35% | 1.21% | 2.41% |
ZST.TO BMO Ultra Short-Term Bond ETF | 1.44% | 2.06% | 5.21% | 5.38% | 1.22% | 0.24% | 1.77% | 2.10% |
Correlation
The correlation between PMNT.TO and ZST.TO is 0.04, 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 | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2019 | 0.06 |
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Return for Risk
PMNT.TO vs. ZST.TO — Risk / Return Rank
PMNT.TO
ZST.TO
PMNT.TO vs. ZST.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Global Short Maturity Fund (Canada) (PMNT.TO) and BMO Ultra Short-Term Bond ETF (ZST.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.
| PMNT.TO | ZST.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.85 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | 4.02 | 1.74 | +2.28 |
| Martin ratioReturn relative to average drawdown | 13.37 | 4.68 | +8.69 |
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Drawdowns
PMNT.TO vs. ZST.TO - Drawdown Comparison
The maximum PMNT.TO drawdown since its inception was -6.81%, which is greater than ZST.TO's maximum drawdown of -3.60%. Use the drawdown chart below to compare losses from any high point for PMNT.TO and ZST.TO.
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Drawdown Indicators
| PMNT.TO | ZST.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.81% | -3.60% | -3.21% |
Max Drawdown (1Y)Largest decline over 1 year | -0.63% | -1.01% | +0.38% |
Max Drawdown (3Y)Largest decline over 3 years | -1.15% | -1.01% | -0.14% |
Max Drawdown (5Y)Largest decline over 5 years | -1.94% | -1.01% | -0.93% |
Max Drawdown (10Y)Largest decline over 10 years | — | -1.06% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.36% | -0.58% | +0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | 0.37% | -0.17% |
Volatility
PMNT.TO vs. ZST.TO - Volatility Comparison
PIMCO Global Short Maturity Fund (Canada) (PMNT.TO) has a higher volatility of 0.23% compared to BMO Ultra Short-Term Bond ETF (ZST.TO) at 0.11%. This indicates that PMNT.TO's price experiences larger fluctuations and is considered to be riskier than ZST.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMNT.TO | ZST.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.23% | 0.11% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 0.70% | 0.26% | +0.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.77% | 1.08% | +0.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.13% | 0.72% | +1.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.18% | 0.70% | +2.48% |
PMNT.TO vs. ZST.TO - Expense Ratio Comparison
PMNT.TO has a 0.39% expense ratio, which is higher than ZST.TO's 0.17% expense ratio.
Dividends
PMNT.TO vs. ZST.TO - Dividend Comparison
PMNT.TO's dividend yield for the trailing twelve months is around 4.38%, more than ZST.TO's 2.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PMNT.TO PIMCO Global Short Maturity Fund (Canada) | 4.38% | 4.65% | 5.48% | 4.92% | 2.60% | 1.17% | 2.68% | 2.09% | 0.00% | 0.00% | 0.00% | 0.00% |
ZST.TO BMO Ultra Short-Term Bond ETF | 2.54% | 2.85% | 4.70% | 4.84% | 2.78% | 2.31% | 2.68% | 2.84% | 3.47% | 4.09% | 3.96% | 3.94% |
Frequently Asked Questions
PMNT.TO and ZST.TO have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZST.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZST.TO is cheaper with a 0.17% expense ratio, compared with 0.39% for PMNT.TO.
They also come from different issuers: PIMCO Canada Corp. and BMO. Their fees differ too: 0.39% for PMNT.TO and 0.17% for ZST.TO.
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