PPL.TO vs. ZSB.TO
PPL.TO (Pembina Pipeline Corporation) is a stock, while ZSB.TO (BMO Short-Term Bond Index ETF) is Canadian Government Bonds fund tracking the FTSE Canada Short Term Overall Bond Index. Over the past 5 years, PPL.TO returned 17.04%/yr vs 2.14%/yr for ZSB.TO. At a correlation of -0.02, they often move in opposite directions.
Performance
PPL.TO vs. ZSB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, PPL.TO achieves a 28.36% return, which is significantly higher than ZSB.TO's 1.38% return.
PPL.TO
- 1D
- -1.01%
- 1M
- 3.16%
- YTD
- 28.36%
- 6M
- 28.31%
- 1Y
- 34.78%
- 3Y*
- 22.67%
- 5Y*
- 17.04%
- 10Y*
- 11.34%
ZSB.TO
- 1D
- -0.06%
- 1M
- 0.35%
- YTD
- 1.38%
- 6M
- 1.33%
- 1Y
- 3.04%
- 3Y*
- 5.02%
- 5Y*
- 2.14%
- 10Y*
- —
PPL.TO vs. ZSB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PPL.TO Pembina Pipeline Corporation | 28.36% | 3.76% | 22.71% | 5.56% | 26.63% | 36.13% | -32.39% | 24.75% | 2.01% |
ZSB.TO BMO Short-Term Bond Index ETF | 1.38% | 3.77% | 5.55% | 5.05% | -4.09% | -1.20% | 5.13% | 2.95% | 1.69% |
Correlation
The correlation between PPL.TO and ZSB.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 (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2018 | -0.02 |
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Return for Risk
PPL.TO vs. ZSB.TO — Risk / Return Rank
PPL.TO
ZSB.TO
PPL.TO vs. ZSB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pembina Pipeline Corporation (PPL.TO) and BMO Short-Term Bond Index ETF (ZSB.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.
| PPL.TO | ZSB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.32 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | 2.09 | +0.63 |
| Martin ratioReturn relative to average drawdown | 6.45 | 6.93 | -0.47 |
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Drawdowns
PPL.TO vs. ZSB.TO - Drawdown Comparison
The maximum PPL.TO drawdown since its inception was -68.76%, which is greater than ZSB.TO's maximum drawdown of -7.49%. Use the drawdown chart below to compare losses from any high point for PPL.TO and ZSB.TO.
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Drawdown Indicators
| PPL.TO | ZSB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.76% | -7.49% | -61.27% |
Max Drawdown (1Y)Largest decline over 1 year | -12.82% | -1.46% | -11.36% |
Max Drawdown (3Y)Largest decline over 3 years | -16.36% | -1.46% | -14.90% |
Max Drawdown (5Y)Largest decline over 5 years | -20.19% | -7.12% | -13.07% |
Max Drawdown (10Y)Largest decline over 10 years | -68.76% | — | — |
Current DrawdownCurrent decline from peak | -3.08% | -0.06% | -3.02% |
Average DrawdownAverage peak-to-trough decline | -10.20% | -1.49% | -8.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.41% | 0.44% | +4.97% |
Volatility
PPL.TO vs. ZSB.TO - Volatility Comparison
Pembina Pipeline Corporation (PPL.TO) has a higher volatility of 4.97% compared to BMO Short-Term Bond Index ETF (ZSB.TO) at 0.51%. This indicates that PPL.TO's price experiences larger fluctuations and is considered to be riskier than ZSB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PPL.TO | ZSB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.97% | 0.51% | +4.46% |
Volatility (6M)Calculated over the trailing 6-month period | 12.85% | 1.58% | +11.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.64% | 1.96% | +16.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.62% | 2.76% | +15.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.87% | 2.63% | +28.24% |
Dividends
PPL.TO vs. ZSB.TO - Dividend Comparison
PPL.TO's dividend yield for the trailing twelve months is around 4.37%, more than ZSB.TO's 3.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PPL.TO Pembina Pipeline Corporation | 4.37% | 5.39% | 5.15% | 5.82% | 5.55% | 6.57% | 8.37% | 4.90% | 5.53% | 4.48% | 4.52% | 5.97% |
ZSB.TO BMO Short-Term Bond Index ETF | 3.17% | 3.16% | 2.91% | 2.54% | 2.60% | 2.43% | 2.34% | 2.40% | 2.42% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PPL.TO and ZSB.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.
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