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TTP.TO vs. ZCN.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TTP.TO vs. ZCN.TO

Last updated Jun 4, 2026

TTP.TO (TD Canadian Equity Index ETF) and ZCN.TO (BMO S&P/TSX Capped Composite Index ETF) are both Canada Equities funds - TTP.TO tracks the Solactive Canada Broad Market Index while ZCN.TO tracks the S&P/TSX Capped Composite Index. Both are passively managed. Over the past 10 years, TTP.TO returned 12.63%/yr vs 12.62%/yr for ZCN.TO. Their correlation of 0.87 suggests significant overlap in exposure. TTP.TO charges 0.05%/yr vs 0.06%/yr for ZCN.TO.

Performance

TTP.TO vs. ZCN.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TD Canadian Equity Index ETF (TTP.TO) and BMO S&P/TSX Capped Composite Index ETF (ZCN.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with TTP.TO having a 10.77% return and ZCN.TO slightly lower at 10.70%. Both investments have delivered pretty close results over the past 10 years, with TTP.TO having a 12.63% annualized return and ZCN.TO not far behind at 12.62%.

TTP.TO

1D
-1.04%
1M
3.62%
YTD
10.77%
6M
13.11%
1Y
34.96%
3Y*
23.56%
5Y*
14.98%
10Y*
12.63%

ZCN.TO

1D
-1.14%
1M
3.62%
YTD
10.70%
6M
12.95%
1Y
34.77%
3Y*
23.62%
5Y*
14.90%
10Y*
12.62%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TTP.TO vs. ZCN.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
TTP.TO
TD Canadian Equity Index ETF		10.77%31.96%20.92%11.66%-5.76%25.31%6.32%22.15%-9.16%8.79%
ZCN.TO
BMO S&P/TSX Capped Composite Index ETF		10.70%31.51%21.64%11.63%-5.84%25.05%5.69%22.85%-8.84%8.94%

Correlation

The correlation between TTP.TO and ZCN.TO is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

1.00

Correlation (3Y)
Calculated over the trailing 3-year period

0.99

Correlation (5Y)
Calculated over the trailing 5-year period

0.99

Correlation (10Y)
Calculated over the trailing 10-year period

0.88

Correlation (All Time)
Calculated using the full available price history since Mar 31, 2016

0.87

The correlation between TTP.TO and ZCN.TO shifts across timeframes, from 0.87 (all time) to 1.00 (1 year), reflecting how their relationship changes across market environments.

TTP.TO vs. ZCN.TO - Sectors Allocation Comparison

Sectors
TTP.TO
ZCN.TO

Financial Services

33.2%
32.8%

Energy

18.3%
17.5%

Basic Materials

17.9%
18.4%

Industrials

10.5%
10.3%

Technology

7.3%
7.6%

Consumer Cyclical

3.7%
3.8%

Consumer Defensive

2.9%
2.9%

Utilities

2.7%
3.2%

Communication Services

1.8%
1.8%

Real Estate

1.6%
1.6%

Healthcare

0.2%
0.1%

Financial Services

TTP.TO
33.2%
ZCN.TO
32.8%

Energy

TTP.TO
18.3%
ZCN.TO
17.5%

Basic Materials

TTP.TO
17.9%
ZCN.TO
18.4%

Industrials

TTP.TO
10.5%
ZCN.TO
10.3%

Technology

TTP.TO
7.3%
ZCN.TO
7.6%

Consumer Cyclical

TTP.TO
3.7%
ZCN.TO
3.8%

Consumer Defensive

TTP.TO
2.9%
ZCN.TO
2.9%

Utilities

TTP.TO
2.7%
ZCN.TO
3.2%

Communication Services

TTP.TO
1.8%
ZCN.TO
1.8%

Real Estate

TTP.TO
1.6%
ZCN.TO
1.6%

Healthcare

TTP.TO
0.2%
ZCN.TO
0.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

TD Canadian Equity Index ETF

BMO S&P/TSX Capped Composite Index ETF

Often compared with TTP.TO:
TTP.TO vs. VCN.TOTTP.TO vs. TPU.TOTTP.TO vs. XIC.TOTTP.TO vs. VDY.TOTTP.TO vs. XIU.TOTTP.TO vs. XDIV.TOTTP.TO vs. VCE.TO
Often compared with ZCN.TO:
ZCN.TO vs. XIC.TOZCN.TO vs. XIU.TOZCN.TO vs. ZSP.TOZCN.TO vs. VDY.TOZCN.TO vs. VCE.TOZCN.TO vs. XEQT.TOZCN.TO vs. VFV.TO

Return for Risk

TTP.TO vs. ZCN.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TTP.TO
TTP.TO Risk / Return Rank: 8080
Overall Rank
TTP.TO Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
TTP.TO Sortino Ratio Rank: 7878
Sortino Ratio Rank
TTP.TO Omega Ratio Rank: 8282
Omega Ratio Rank
TTP.TO Calmar Ratio Rank: 7373
Calmar Ratio Rank
TTP.TO Martin Ratio Rank: 8383
Martin Ratio Rank
ZCN.TO
ZCN.TO Risk / Return Rank: 8080
Overall Rank
ZCN.TO Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
ZCN.TO Sortino Ratio Rank: 7878
Sortino Ratio Rank
ZCN.TO Omega Ratio Rank: 8181
Omega Ratio Rank
ZCN.TO Calmar Ratio Rank: 7474
Calmar Ratio Rank
ZCN.TO Martin Ratio Rank: 8484
Martin Ratio Rank
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.

TTP.TO vs. ZCN.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TD Canadian Equity Index ETF (TTP.TO) 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.

TTP.TOZCN.TODifference
Sharpe ratioReturn per unit of total volatility
2.76
2.76

0.00

Sortino ratioReturn per unit of downside risk
3.55
3.56

-0.01

Omega ratioGain probability vs. loss probability

1.50

1.50

0.00

Calmar ratioReturn relative to maximum drawdown

3.72

3.75

-0.03

Martin ratioReturn relative to average drawdown

17.19

17.48

-0.29

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TTP.TO vs. ZCN.TO - Sharpe Ratio Comparison

The current TTP.TO Sharpe Ratio is 2.76, which is comparable to the ZCN.TO Sharpe Ratio of 2.76. The chart below compares the historical Sharpe Ratios of TTP.TO 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.

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Sharpe Ratios by Period

TTP.TOZCN.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.76

2.76

0.00

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.14

1.15

0.00

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.86

0.85

+0.01

Sharpe Ratio (All Time)

Calculated using the full available price history

0.88

0.68

+0.21

Drawdowns

TTP.TO vs. ZCN.TO - Drawdown Comparison

The maximum TTP.TO drawdown since its inception was -37.03%, roughly equal to the maximum ZCN.TO drawdown of -37.18%. Use the drawdown chart below to compare losses from any high point for TTP.TO and ZCN.TO.

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Drawdown Indicators

TTP.TOZCN.TODifference

Max Drawdown

Largest peak-to-trough decline

-37.03%

-37.18%

+0.15%

Max Drawdown (1Y)

Largest decline over 1 year

-9.43%

-9.30%

-0.13%

Max Drawdown (3Y)

Largest decline over 3 years

-12.21%

-12.25%

+0.04%

Max Drawdown (5Y)

Largest decline over 5 years

-16.44%

-16.25%

-0.19%

Max Drawdown (10Y)

Largest decline over 10 years

-37.03%

-37.18%

+0.15%

Current Drawdown

Current decline from peak

-1.04%

-1.14%

+0.10%

Average Drawdown

Average peak-to-trough decline

-3.34%

-4.76%

+1.42%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.04%

1.99%

+0.05%

Volatility

TTP.TO vs. ZCN.TO - Volatility Comparison

TD Canadian Equity Index ETF (TTP.TO) and BMO S&P/TSX Capped Composite Index ETF (ZCN.TO) have volatilities of 3.40% and 3.49%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TTP.TOZCN.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.40%

3.49%

-0.09%

Volatility (6M)

Calculated over the trailing 6-month period

10.37%

10.31%

+0.06%

Volatility (1Y)

Calculated over the trailing 1-year period

12.74%

12.66%

+0.08%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.20%

13.09%

+0.11%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.85%

14.99%

-0.14%

TTP.TO vs. ZCN.TO - Expense Ratio Comparison

TTP.TO has a 0.05% expense ratio, which is lower than ZCN.TO's 0.06% 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%.

Dividends

TTP.TO vs. ZCN.TO - Dividend Comparison

TTP.TO's dividend yield for the trailing twelve months is around 1.88%, less than ZCN.TO's 2.03% yield.

PositionTTM20252024202320222021202020192018201720162015
TTP.TO
TD Canadian Equity Index ETF		1.88%2.06%2.56%2.91%3.68%1.86%2.84%2.09%2.89%2.32%1.85%0.00%
ZCN.TO
BMO S&P/TSX Capped Composite Index ETF		2.03%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

With a correlation of 1.00, TTP.TO and ZCN.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

On fees, TTP.TO is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

TTP.TO is cheaper with a 0.05% expense ratio, compared with 0.06% for ZCN.TO.

TTP.TO tracks Solactive Canada Broad Market Index, while ZCN.TO tracks S&P/TSX Capped Composite Index. They also come from different issuers: TD and BMO. Their fees differ too: 0.05% for TTP.TO and 0.06% for ZCN.TO.

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