TCON.TO vs. ZGRO.TO
TCON.TO (TD Conservative ETF Portfolio) and ZGRO.TO (BMO Growth ETF) are both exchange-traded funds - TCON.TO is a Diversified Portfolio fund actively managed by TD, while ZGRO.TO is a Global Allocation fund actively managed by BMO. Both are actively managed. Over the past 5 years, TCON.TO returned 5.31%/yr vs 15.06%/yr for ZGRO.TO. At a 0.47 correlation, their price movements are largely independent.
Performance
TCON.TO vs. ZGRO.TO - Performance Comparison
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Returns By Period
In the year-to-date period, TCON.TO achieves a 5.75% return, which is significantly lower than ZGRO.TO's 11.25% return.
TCON.TO
- 1D
- -0.29%
- 1M
- 0.32%
- 6M
- 3.93%
- YTD
- 5.75%
- 1Y
- 12.86%
- 3Y*
- 10.45%
- 5Y*
- 5.31%
- 10Y*
- —
ZGRO.TO
- 1D
- -0.87%
- 1M
- 0.86%
- 6M
- 7.86%
- YTD
- 11.25%
- 1Y
- 22.91%
- 3Y*
- 21.22%
- 5Y*
- 15.06%
- 10Y*
- —
TCON.TO vs. ZGRO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
TCON.TO TD Conservative ETF Portfolio | 5.75% | 10.47% | 9.68% | 11.95% | -12.34% | 5.81% | 2.79% |
ZGRO.TO BMO Growth ETF | 11.25% | 18.65% | 25.70% | 20.36% | -5.92% | 20.50% | 8.77% |
Correlation
The correlation between TCON.TO and ZGRO.TO is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Aug 25, 2020 | 0.47 |
Over the past year, TCON.TO and ZGRO.TO have become more correlated (0.76) than their long-term average of 0.47, meaning their price movements have been converging.
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Return for Risk
TCON.TO vs. ZGRO.TO — Risk / Return Rank
TCON.TO
ZGRO.TO
TCON.TO vs. ZGRO.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TD Conservative ETF Portfolio (TCON.TO) and BMO Growth ETF (ZGRO.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.
| TCON.TO | ZGRO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.35 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.55 | 3.35 | -0.80 |
| Martin ratioReturn relative to average drawdown | 10.81 | 12.85 | -2.04 |
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Drawdowns
TCON.TO vs. ZGRO.TO - Drawdown Comparison
The maximum TCON.TO drawdown since its inception was -16.43%, smaller than the maximum ZGRO.TO drawdown of -24.67%. Use the drawdown chart below to compare losses from any high point for TCON.TO and ZGRO.TO.
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Drawdown Indicators
| TCON.TO | ZGRO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.43% | -24.67% | +8.24% |
Max Drawdown (1Y)Largest decline over 1 year | -5.06% | -6.87% | +1.81% |
Max Drawdown (3Y)Largest decline over 3 years | -6.18% | -11.60% | +5.42% |
Max Drawdown (5Y)Largest decline over 5 years | -16.43% | -16.21% | -0.22% |
Current DrawdownCurrent decline from peak | -0.97% | -2.15% | +1.18% |
Average DrawdownAverage peak-to-trough decline | -3.67% | -2.49% | -1.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 1.79% | -0.60% |
Volatility
TCON.TO vs. ZGRO.TO - Volatility Comparison
The current volatility for TD Conservative ETF Portfolio (TCON.TO) is 1.58%, while BMO Growth ETF (ZGRO.TO) has a volatility of 4.87%. This indicates that TCON.TO experiences smaller price fluctuations and is considered to be less risky than ZGRO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TCON.TO | ZGRO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.58% | 4.87% | -3.29% |
Volatility (6M)Calculated over the trailing 6-month period | 5.53% | 10.20% | -4.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.63% | 12.06% | -5.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.83% | 11.23% | -3.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.55% | 13.19% | -5.64% |
Dividends
TCON.TO vs. ZGRO.TO - Dividend Comparison
TCON.TO's dividend yield for the trailing twelve months is around 2.59%, more than ZGRO.TO's 1.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
TCON.TO TD Conservative ETF Portfolio | 2.59% | 2.88% | 3.48% | 3.27% | 2.69% | 1.96% | 1.03% | 0.00% |
ZGRO.TO BMO Growth ETF | 1.44% | 3.38% | 5.76% | 6.81% | 7.63% | 6.65% | 7.47% | 6.95% |
Frequently Asked Questions
TCON.TO and ZGRO.TO have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TCON.TO is categorized as Diversified Portfolio, while ZGRO.TO is Global Allocation. They also come from different issuers: TD and BMO.
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