QTIP.NEO vs. ZTIP.TO
Compare and contrast key facts about Mackenzie US TIPS Index ETF (CAD-Hedged) (QTIP.NEO) and BMO Short-Term US TIPS Index ETF (ZTIP.TO).
QTIP.NEO and ZTIP.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QTIP.NEO is a passively managed fund by Mackenzie that tracks the performance of the Solactive US Treasury Inflation-Linked Bond Hedged to CAD TR Index. It was launched on Jan 24, 2018. ZTIP.TO is a passively managed fund by BMO that tracks the performance of the Bloomberg Barclays U.S. Government Inflation-Linked 0-5 Year Bond Index. It was launched on Jan 26, 2021. Both QTIP.NEO and ZTIP.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
QTIP.NEO vs. ZTIP.TO - Performance Comparison
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QTIP.NEO vs. ZTIP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
QTIP.NEO Mackenzie US TIPS Index ETF (CAD-Hedged) | 0.29% | 4.82% | 0.82% | 3.50% | -12.98% | 5.60% |
ZTIP.TO BMO Short-Term US TIPS Index ETF | 2.50% | 1.12% | 13.84% | 1.93% | 3.96% | 4.47% |
Returns By Period
In the year-to-date period, QTIP.NEO achieves a 0.29% return, which is significantly lower than ZTIP.TO's 2.50% return.
QTIP.NEO
- 1D
- 0.30%
- 1M
- -1.31%
- YTD
- 0.29%
- 6M
- -0.36%
- 1Y
- 1.29%
- 3Y*
- 1.89%
- 5Y*
- 0.54%
- 10Y*
- —
ZTIP.TO
- 1D
- -0.06%
- 1M
- 1.99%
- YTD
- 2.50%
- 6M
- 1.44%
- 1Y
- 0.54%
- 3Y*
- 5.58%
- 5Y*
- 5.57%
- 10Y*
- —
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QTIP.NEO vs. ZTIP.TO - Expense Ratio Comparison
QTIP.NEO has a 0.15% expense ratio, which is lower than ZTIP.TO's 0.17% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
QTIP.NEO vs. ZTIP.TO — Risk / Return Rank
QTIP.NEO
ZTIP.TO
QTIP.NEO vs. ZTIP.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mackenzie US TIPS Index ETF (CAD-Hedged) (QTIP.NEO) and BMO Short-Term US TIPS Index ETF (ZTIP.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.
| QTIP.NEO | ZTIP.TO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.32 | 0.10 | +0.22 |
Sortino ratioReturn per unit of downside risk | 0.46 | 0.16 | +0.29 |
Omega ratioGain probability vs. loss probability | 1.06 | 1.03 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 0.59 | 0.21 | +0.38 |
Martin ratioReturn relative to average drawdown | 1.43 | 0.43 | +1.00 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| QTIP.NEO | ZTIP.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.32 | 0.10 | +0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.09 | 0.87 | -0.79 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.84 | -0.50 |
Correlation
The correlation between QTIP.NEO and ZTIP.TO is 0.04, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
QTIP.NEO vs. ZTIP.TO - Dividend Comparison
QTIP.NEO's dividend yield for the trailing twelve months is around 4.31%, more than ZTIP.TO's 3.46% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
QTIP.NEO Mackenzie US TIPS Index ETF (CAD-Hedged) | 4.16% | 4.54% | 4.53% | 5.08% | 9.47% | 5.24% | 2.17% | 2.29% | 2.91% |
ZTIP.TO BMO Short-Term US TIPS Index ETF | 3.46% | 3.63% | 3.63% | 4.91% | 4.93% | 0.38% | 0.00% | 0.00% | 0.00% |
Drawdowns
QTIP.NEO vs. ZTIP.TO - Drawdown Comparison
The maximum QTIP.NEO drawdown since its inception was -15.03%, which is greater than ZTIP.TO's maximum drawdown of -5.60%. Use the drawdown chart below to compare losses from any high point for QTIP.NEO and ZTIP.TO.
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Drawdown Indicators
| QTIP.NEO | ZTIP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.03% | -5.60% | -9.43% |
Max Drawdown (1Y)Largest decline over 1 year | -2.65% | -5.59% | +2.94% |
Max Drawdown (5Y)Largest decline over 5 years | -15.03% | -5.60% | -9.43% |
Current DrawdownCurrent decline from peak | -4.64% | -0.20% | -4.44% |
Average DrawdownAverage peak-to-trough decline | -4.80% | -1.56% | -3.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | 2.72% | -1.63% |
Volatility
QTIP.NEO vs. ZTIP.TO - Volatility Comparison
The current volatility for Mackenzie US TIPS Index ETF (CAD-Hedged) (QTIP.NEO) is 1.37%, while BMO Short-Term US TIPS Index ETF (ZTIP.TO) has a volatility of 1.45%. This indicates that QTIP.NEO experiences smaller price fluctuations and is considered to be less risky than ZTIP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QTIP.NEO | ZTIP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.37% | 1.45% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 2.49% | 3.26% | -0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.10% | 5.50% | -1.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.26% | 6.40% | -0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.36% | 6.36% | 0.00% |