TPE.DE vs. ZCN.TO

Last updated Jun 5, 2026

TPE.DE (PVA TePla AG) is a stock, while ZCN.TO (BMO S&P/TSX Capped Composite Index ETF) is Canada Equities fund tracking the S&P/TSX Capped Composite Index. Over the past 10 years, TPE.DE returned 31.78%/yr vs 11.57%/yr for ZCN.TO. At a 0.20 correlation, their price movements are largely independent.

Performance

TPE.DE vs. ZCN.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in PVA TePla AG (TPE.DE) and BMO S&P/TSX Capped Composite Index ETF (ZCN.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

TPE.DE is traded in EUR, while ZCN.TO is traded in CAD. To make them comparable, the ZCN.TO values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, TPE.DE achieves a 86.40% return, which is significantly higher than ZCN.TO's 11.91% return. Over the past 10 years, TPE.DE has outperformed ZCN.TO with an annualized return of 31.78%, while ZCN.TO has yielded a comparatively lower 11.57% annualized return.

TPE.DE

• 1D: -2.61%
• 1M: 8.92%
• YTD: 86.40%
• 6M: 85.43%
• 1Y: 138.10%
• 3Y*: 29.79%
• 5Y*: 12.63%
• 10Y*: 31.78%

ZCN.TO

• 1D: 1.02%
• 1M: 3.60%
• YTD: 11.91%
• 6M: 13.92%
• 1Y: 32.39%
• 3Y*: 19.69%
• 5Y*: 13.04%
• 10Y*: 11.57%

*Multi-year figures are annualized to reflect compound growth (CAGR)

TPE.DE vs. ZCN.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TPE.DE PVA TePla AG	86.40%	76.20%	-36.57%	9.91%	-55.70%	113.78%	28.10%	25.41%	1.67%	426.09%
ZCN.TO BMO S&P/TSX Capped Composite Index ETF	11.91%	21.46%	19.43%	10.75%	-6.69%	35.40%	-1.08%	31.90%	-11.98%	2.14%

Correlation

The correlation between TPE.DE and ZCN.TO is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (10Y) Calculated over the trailing 10-year period	0.24
Correlation (All Time) Calculated using the full available price history since Jun 5, 2009	0.20

The correlation between TPE.DE and ZCN.TO shifts across timeframes, from 0.18 (1 year) to 0.29 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

TPE.DE vs. ZCN.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TPE.DE

TPE.DE Risk / Return Rank: 89
TPE.DE Sharpe Ratio Rank: 92
TPE.DE Sortino Ratio Rank: 89
TPE.DE Omega Ratio Rank: 87
TPE.DE Calmar Ratio Rank: 87
TPE.DE Martin Ratio Rank: 87

ZCN.TO

ZCN.TO Risk / Return Rank: 85
ZCN.TO Sharpe Ratio Rank: 88
ZCN.TO Sortino Ratio Rank: 85
ZCN.TO Omega Ratio Rank: 87
ZCN.TO Calmar Ratio Rank: 79
ZCN.TO Martin Ratio Rank: 87

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TPE.DE vs. ZCN.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PVA TePla AG (TPE.DE) and BMO S&P/TSX Capped Composite Index ETF (ZCN.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.

	TPE.DE	ZCN.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.59	2.48	+0.12
Sortino ratio: Return per unit of downside risk	3.15	3.16	-0.01
Omega ratio: Gain probability vs. loss probability	1.39	1.44	-0.05
Calmar ratio: Return relative to maximum drawdown	3.91	3.76	+0.15
Martin ratio: Return relative to average drawdown	9.85	16.87	-7.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TPE.DE vs. ZCN.TO - Sharpe Ratio Comparison

The current TPE.DE Sharpe Ratio is 2.59, which is comparable to the ZCN.TO Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of TPE.DE and ZCN.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TPE.DE	ZCN.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.59	2.48	+0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.85	-0.62
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.65	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.54	-0.40

Drawdowns

TPE.DE vs. ZCN.TO - Drawdown Comparison

The maximum TPE.DE drawdown since its inception was -96.80%, which is greater than ZCN.TO's maximum drawdown of -42.33%. Use the drawdown chart below to compare losses from any high point for TPE.DE and ZCN.TO.

Drawdown Indicators

	TPE.DE	ZCN.TO	Difference
Max Drawdown Largest peak-to-trough decline	-96.80%	-42.33%	-54.47%
Max Drawdown (1Y) Largest decline over 1 year	-35.12%	-8.65%	-26.47%
Max Drawdown (3Y) Largest decline over 3 years	-53.48%	-16.65%	-36.83%
Max Drawdown (5Y) Largest decline over 5 years	-77.70%	-17.23%	-60.47%
Max Drawdown (10Y) Largest decline over 10 years	-77.70%	-42.33%	-35.37%
Current Drawdown Current decline from peak	-13.62%	-0.22%	-13.40%
Average Drawdown Average peak-to-trough decline	-68.91%	-7.02%	-61.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.96%	1.93%	+12.03%

Volatility

TPE.DE vs. ZCN.TO - Volatility Comparison

PVA TePla AG (TPE.DE) has a higher volatility of 18.44% compared to BMO S&P/TSX Capped Composite Index ETF (ZCN.TO) at 3.38%. This indicates that TPE.DE's price experiences larger fluctuations and is considered to be riskier than ZCN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TPE.DE	ZCN.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.44%	3.38%	+15.06%
Volatility (6M) Calculated over the trailing 6-month period	41.75%	10.33%	+31.42%
Volatility (1Y) Calculated over the trailing 1-year period	53.10%	13.15%	+39.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.38%	15.37%	+38.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.97%	17.99%	+36.98%

Dividends

TPE.DE vs. ZCN.TO - Dividend Comparison

TPE.DE has not paid dividends to shareholders, while ZCN.TO's dividend yield for the trailing twelve months is around 2.00%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TPE.DE PVA TePla AG	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ZCN.TO BMO S&P/TSX Capped Composite Index ETF	2.00%	2.22%	2.78%	3.29%	3.27%	2.74%	3.24%	3.13%	3.16%	2.71%	2.84%	3.33%

Frequently Asked Questions

Can I hold both TPE.DE and ZCN.TO in my portfolio?

TPE.DE and ZCN.TO have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.