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VGRO.TO vs. ZLU.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VGRO.TO vs. ZLU.TO

Last updated Jun 5, 2026

VGRO.TO (Vanguard Growth ETF Portfolio) and ZLU.TO (BMO Low Volatility US Equity ETF (CAD)) are both exchange-traded funds - VGRO.TO is a Diversified Portfolio fund actively managed by Vanguard, while ZLU.TO is a Large Cap Blend Equities fund actively managed by BMO. Both are actively managed. Over the past 5 years, VGRO.TO returned 11.00%/yr vs 10.40%/yr for ZLU.TO. At a 0.48 correlation, their price movements are largely independent. VGRO.TO charges 0.20%/yr vs 0.33%/yr for ZLU.TO.

Performance

VGRO.TO vs. ZLU.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard Growth ETF Portfolio (VGRO.TO) and BMO Low Volatility US Equity ETF (CAD) (ZLU.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 VGRO.TO having a 10.97% return and ZLU.TO slightly lower at 10.43%.

VGRO.TO

1D
0.57%
1M
5.12%
YTD
10.97%
6M
9.68%
1Y
25.48%
3Y*
18.25%
5Y*
11.00%
10Y*
—

ZLU.TO

1D
0.95%
1M
4.71%
YTD
10.43%
6M
4.45%
1Y
12.11%
3Y*
11.15%
5Y*
10.40%
10Y*
9.66%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VGRO.TO vs. ZLU.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
VGRO.TO
Vanguard Growth ETF Portfolio		10.97%16.11%19.27%14.79%-11.21%14.79%10.85%17.74%-4.13%
ZLU.TO
BMO Low Volatility US Equity ETF (CAD)		10.43%1.95%21.52%-3.36%7.85%20.62%1.98%20.39%8.94%

Correlation

The correlation between VGRO.TO and ZLU.TO is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.42

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

0.37

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

0.40

Correlation (All Time)
Calculated using the full available price history since Feb 2, 2018

0.48

The correlation between VGRO.TO and ZLU.TO shifts across timeframes, from 0.37 (3 years) to 0.48 (all time), reflecting how their relationship changes across market environments.

VGRO.TO vs. ZLU.TO - Sectors Allocation Comparison

Sectors
VGRO.TO
ZLU.TO

Financial Services

20.6%
11.4%

Technology

20.3%
19.0%

Industrials

11.6%
6.4%

Energy

8.7%
0.6%

Basic Materials

8.6%
2.5%

Consumer Cyclical

7.8%
3.2%

Healthcare

6.7%
17.7%

Communication Services

6.0%
2.9%

Consumer Defensive

4.6%
12.5%

Utilities

2.8%
20.5%

Real Estate

2.3%
3.3%

Financial Services

VGRO.TO
20.6%
ZLU.TO
11.4%

Technology

VGRO.TO
20.3%
ZLU.TO
19.0%

Industrials

VGRO.TO
11.6%
ZLU.TO
6.4%

Energy

VGRO.TO
8.7%
ZLU.TO
0.6%

Basic Materials

VGRO.TO
8.6%
ZLU.TO
2.5%

Consumer Cyclical

VGRO.TO
7.8%
ZLU.TO
3.2%

Healthcare

VGRO.TO
6.7%
ZLU.TO
17.7%

Communication Services

VGRO.TO
6.0%
ZLU.TO
2.9%

Consumer Defensive

VGRO.TO
4.6%
ZLU.TO
12.5%

Utilities

VGRO.TO
2.8%
ZLU.TO
20.5%

Real Estate

VGRO.TO
2.3%
ZLU.TO
3.3%

Compare stocks, funds, or ETFs

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

Vanguard Growth ETF Portfolio

BMO Low Volatility US Equity ETF (CAD)

Often compared with VGRO.TO:
VGRO.TO vs. VEQT.TOVGRO.TO vs. XEQT.TOVGRO.TO vs. VBAL.TOVGRO.TO vs. XGRO.TOVGRO.TO vs. VDY.TOVGRO.TO vs. TGRO.TOVGRO.TO vs. ZGRO.TO
Often compared with ZLU.TO:
ZLU.TO vs. ZSP.TOZLU.TO vs. XMU.TOZLU.TO vs. ZDY.TOZLU.TO vs. ZID.TOZLU.TO vs. XEQT.TOZLU.TO vs. XBAL.TOZLU.TO vs. SPLV

Return for Risk

VGRO.TO vs. ZLU.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VGRO.TO
VGRO.TO Risk / Return Rank: 8181
Overall Rank
VGRO.TO Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
VGRO.TO Sortino Ratio Rank: 8484
Sortino Ratio Rank
VGRO.TO Omega Ratio Rank: 8383
Omega Ratio Rank
VGRO.TO Calmar Ratio Rank: 7474
Calmar Ratio Rank
VGRO.TO Martin Ratio Rank: 8181
Martin Ratio Rank
ZLU.TO
ZLU.TO Risk / Return Rank: 3232
Overall Rank
ZLU.TO Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
ZLU.TO Sortino Ratio Rank: 3030
Sortino Ratio Rank
ZLU.TO Omega Ratio Rank: 3232
Omega Ratio Rank
ZLU.TO Calmar Ratio Rank: 3333
Calmar Ratio Rank
ZLU.TO Martin Ratio Rank: 2929
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.

VGRO.TO vs. ZLU.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Growth ETF Portfolio (VGRO.TO) and BMO Low Volatility US Equity ETF (CAD) (ZLU.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.

VGRO.TOZLU.TODifference
Sharpe ratioReturn per unit of total volatility
2.66
1.16

+1.49

Sortino ratioReturn per unit of downside risk
3.72
1.58

+2.14

Omega ratioGain probability vs. loss probability

1.50

1.21

+0.28

Calmar ratioReturn relative to maximum drawdown

3.65

1.61

+2.04

Martin ratioReturn relative to average drawdown

15.92

4.10

+11.82

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

VGRO.TO vs. ZLU.TO - Sharpe Ratio Comparison

The current VGRO.TO Sharpe Ratio is 2.66, which is higher than the ZLU.TO Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of VGRO.TO and ZLU.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

VGRO.TOZLU.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.66

1.16

+1.49

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.04

0.92

+0.12

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.70

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.82

0.98

-0.16

Drawdowns

VGRO.TO vs. ZLU.TO - Drawdown Comparison

The maximum VGRO.TO drawdown since its inception was -25.36%, roughly equal to the maximum ZLU.TO drawdown of -25.49%. Use the drawdown chart below to compare losses from any high point for VGRO.TO and ZLU.TO.

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Drawdown Indicators

VGRO.TOZLU.TODifference

Max Drawdown

Largest peak-to-trough decline

-25.36%

-25.49%

+0.13%

Max Drawdown (1Y)

Largest decline over 1 year

-7.01%

-7.53%

+0.52%

Max Drawdown (3Y)

Largest decline over 3 years

-12.50%

-9.17%

-3.33%

Max Drawdown (5Y)

Largest decline over 5 years

-17.39%

-10.40%

-6.99%

Max Drawdown (10Y)

Largest decline over 10 years

—

-25.49%

—

Current Drawdown

Current decline from peak

0.00%

-1.11%

+1.11%

Average Drawdown

Average peak-to-trough decline

-3.41%

-3.11%

-0.30%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.60%

2.96%

-1.36%

Volatility

VGRO.TO vs. ZLU.TO - Volatility Comparison

Vanguard Growth ETF Portfolio (VGRO.TO) has a higher volatility of 3.18% compared to BMO Low Volatility US Equity ETF (CAD) (ZLU.TO) at 2.94%. This indicates that VGRO.TO's price experiences larger fluctuations and is considered to be riskier than ZLU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VGRO.TOZLU.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.18%

2.94%

+0.24%

Volatility (6M)

Calculated over the trailing 6-month period

7.88%

8.51%

-0.63%

Volatility (1Y)

Calculated over the trailing 1-year period

9.63%

10.50%

-0.87%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.64%

11.35%

-0.71%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.53%

13.91%

-1.38%

VGRO.TO vs. ZLU.TO - Expense Ratio Comparison

VGRO.TO has a 0.20% expense ratio, which is lower than ZLU.TO's 0.33% expense ratio.

Dividends

VGRO.TO vs. ZLU.TO - Dividend Comparison

VGRO.TO's dividend yield for the trailing twelve months is around 1.70%, less than ZLU.TO's 1.72% yield.

PositionTTM20252024202320222021202020192018201720162015
VGRO.TO
Vanguard Growth ETF Portfolio		1.70%1.88%2.01%2.13%2.14%1.80%1.77%2.17%2.09%0.00%0.00%0.00%
ZLU.TO
BMO Low Volatility US Equity ETF (CAD)		1.72%1.89%1.89%2.29%1.87%1.69%1.75%1.51%1.81%1.91%2.26%1.73%

Frequently Asked Questions

VGRO.TO and ZLU.TO have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VGRO.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VGRO.TO is cheaper with a 0.20% expense ratio, compared with 0.33% for ZLU.TO.

VGRO.TO is categorized as Diversified Portfolio, while ZLU.TO is Large Cap Blend Equities. They also come from different issuers: Vanguard and BMO. Their fees differ too: 0.20% for VGRO.TO and 0.33% for ZLU.TO.

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