TSU.TO vs. ZLB.TO

Last updated Jun 13, 2026

TSU.TO (Trisura Group Ltd.) is a stock, while ZLB.TO (BMO Low Volatility Canadian Equity ETF) is Canada Equities fund actively managed by BMO. Over the past 5 years, TSU.TO returned 1.34%/yr vs 11.24%/yr for ZLB.TO. At a 0.28 correlation, their price movements are largely independent.

Performance

TSU.TO vs. ZLB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Trisura Group Ltd. (TSU.TO) and BMO Low Volatility Canadian Equity ETF (ZLB.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSU.TO achieves a -0.16% return, which is significantly lower than ZLB.TO's 5.69% return.

TSU.TO

• 1D: 0.24%
• 1M: 3.95%
• YTD: -0.16%
• 6M: 6.79%
• 1Y: 6.33%
• 3Y*: 4.15%
• 5Y*: 1.34%
• 10Y*: —

ZLB.TO

• 1D: 0.11%
• 1M: 3.64%
• YTD: 5.69%
• 6M: 2.84%
• 1Y: 13.46%
• 3Y*: 15.21%
• 5Y*: 11.24%
• 10Y*: 10.66%

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

TSU.TO vs. ZLB.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TSU.TO Trisura Group Ltd.	-0.16%	9.59%	14.65%	-24.93%	-5.03%	114.17%	121.18%	54.29%	1.32%	-3.30%
ZLB.TO BMO Low Volatility Canadian Equity ETF	5.69%	20.40%	15.31%	9.41%	-0.35%	22.93%	1.51%	21.92%	-2.76%	3.11%

Correlation

The correlation between TSU.TO and ZLB.TO is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (All Time) Calculated using the full available price history since Oct 3, 2017	0.28

The correlation between TSU.TO and ZLB.TO shifts across timeframes, from 0.28 (all time) to 0.39 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

TSU.TO vs. ZLB.TO — Risk / Return Rank

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

TSU.TO

TSU.TO Risk / Return Rank: 47
TSU.TO Sharpe Ratio Rank: 50
TSU.TO Sortino Ratio Rank: 45
TSU.TO Omega Ratio Rank: 43
TSU.TO Calmar Ratio Rank: 50
TSU.TO Martin Ratio Rank: 49

ZLB.TO

ZLB.TO Risk / Return Rank: 48
ZLB.TO Sharpe Ratio Rank: 47
ZLB.TO Sortino Ratio Rank: 43
ZLB.TO Omega Ratio Rank: 49
ZLB.TO Calmar Ratio Rank: 52
ZLB.TO Martin Ratio Rank: 48

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.

TSU.TO vs. ZLB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Trisura Group Ltd. (TSU.TO) and BMO Low Volatility Canadian Equity ETF (ZLB.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.

	TSU.TO	ZLB.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.20	1.44	-1.24
Sortino ratio: Return per unit of downside risk	0.55	1.96	-1.41
Omega ratio: Gain probability vs. loss probability	1.06	1.27	-0.21
Calmar ratio: Return relative to maximum drawdown	0.31	2.34	-2.03
Martin ratio: Return relative to average drawdown	0.53	6.85	-6.31

TSU.TO vs. ZLB.TO - Sharpe Ratio Comparison

The current TSU.TO Sharpe Ratio is 0.20, which is lower than the ZLB.TO Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of TSU.TO and ZLB.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.

Drawdowns

TSU.TO vs. ZLB.TO - Drawdown Comparison

The maximum TSU.TO drawdown since its inception was -40.06%, which is greater than ZLB.TO's maximum drawdown of -33.96%. Use the drawdown chart below to compare losses from any high point for TSU.TO and ZLB.TO.

Drawdown Indicators

	TSU.TO	ZLB.TO	Difference
Max Drawdown Largest peak-to-trough decline	-40.06%	-33.96%	-6.10%
Max Drawdown (1Y) Largest decline over 1 year	-18.33%	-5.67%	-12.66%
Max Drawdown (3Y) Largest decline over 3 years	-31.85%	-8.01%	-23.84%
Max Drawdown (5Y) Largest decline over 5 years	-40.06%	-13.00%	-27.06%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.96%	—
Current Drawdown Current decline from peak	-14.05%	0.00%	-14.05%
Average Drawdown Average peak-to-trough decline	-14.34%	-2.49%	-11.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.44%	1.93%	+8.51%

Volatility

TSU.TO vs. ZLB.TO - Volatility Comparison

Trisura Group Ltd. (TSU.TO) has a higher volatility of 4.11% compared to BMO Low Volatility Canadian Equity ETF (ZLB.TO) at 2.63%. This indicates that TSU.TO's price experiences larger fluctuations and is considered to be riskier than ZLB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSU.TO	ZLB.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.11%	2.63%	+1.48%
Volatility (6M) Calculated over the trailing 6-month period	21.80%	7.60%	+14.20%
Volatility (1Y) Calculated over the trailing 1-year period	27.85%	9.26%	+18.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.08%	9.62%	+23.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.66%	12.22%	+21.44%

Dividends

TSU.TO vs. ZLB.TO - Dividend Comparison

TSU.TO has not paid dividends to shareholders, while ZLB.TO's dividend yield for the trailing twelve months is around 1.88%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TSU.TO Trisura Group Ltd.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ZLB.TO BMO Low Volatility Canadian Equity ETF	1.88%	1.99%	2.37%	2.67%	2.66%	2.39%	2.83%	2.44%	2.76%	2.55%	2.94%	2.34%

Frequently Asked Questions

Can I hold both TSU.TO and ZLB.TO in my portfolio?

TSU.TO and ZLB.TO have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.