VOO vs. ZTIP.TO
VOO (Vanguard S&P 500 ETF) and ZTIP.TO (BMO Short-Term US TIPS Index ETF) are both exchange-traded funds - VOO is a S&P 500 fund tracking the S&P 500 Index, while ZTIP.TO is a Inflation-Protected Bonds fund tracking the Bloomberg Barclays U.S. Government Inflation-Linked 0-5 Year Bond Index. Both are passively managed. Over the past 5 years, VOO returned 13.43%/yr vs 3.29%/yr for ZTIP.TO. At a correlation of -0.09, they often move in opposite directions. VOO charges 0.03%/yr vs 0.17%/yr for ZTIP.TO.
Performance
VOO vs. ZTIP.TO - Performance Comparison
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Different Trading Currencies
VOO is traded in USD, while ZTIP.TO is traded in CAD. To make them comparable, the ZTIP.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, VOO achieves a 9.08% return, which is significantly higher than ZTIP.TO's 1.43% return.
VOO
- 1D
- 0.55%
- 1M
- -0.84%
- YTD
- 9.08%
- 6M
- 9.44%
- 1Y
- 25.76%
- 3Y*
- 20.95%
- 5Y*
- 13.43%
- 10Y*
- 15.50%
ZTIP.TO
- 1D
- -0.32%
- 1M
- -0.54%
- YTD
- 1.43%
- 6M
- 1.78%
- 1Y
- 4.31%
- 3Y*
- 5.09%
- 5Y*
- 3.29%
- 10Y*
- —
VOO vs. ZTIP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VOO Vanguard S&P 500 ETF | 9.08% | 17.82% | 24.98% | 26.32% | -18.17% | 25.28% |
ZTIP.TO BMO Short-Term US TIPS Index ETF | 1.53% | 5.95% | 4.95% | 4.41% | -2.24% | 4.41% |
Correlation
The correlation between VOO and ZTIP.TO is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Jan 26, 2021 | -0.09 |
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Return for Risk
VOO vs. ZTIP.TO — Risk / Return Rank
VOO
ZTIP.TO
VOO vs. ZTIP.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 ETF (VOO) and BMO Short-Term US TIPS Index ETF (ZTIP.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.
| VOO | ZTIP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.25 | ||
| Sortino ratioReturn per unit of downside risk | +1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.14 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.75 | 2.48 | +0.27 |
| Martin ratioReturn relative to average drawdown | 12.42 | 7.40 | +5.02 |
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Drawdowns
VOO vs. ZTIP.TO - Drawdown Comparison
The maximum VOO drawdown since its inception was -33.99%, which is greater than ZTIP.TO's maximum drawdown of -6.85%. Use the drawdown chart below to compare losses from any high point for VOO and ZTIP.TO.
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Drawdown Indicators
| VOO | ZTIP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.99% | -6.85% | -27.14% |
Max Drawdown (1Y)Largest decline over 1 year | -8.90% | -1.75% | -7.15% |
Max Drawdown (3Y)Largest decline over 3 years | -18.69% | -2.38% | -16.31% |
Max Drawdown (5Y)Largest decline over 5 years | -24.52% | -6.85% | -17.67% |
Max Drawdown (10Y)Largest decline over 10 years | -33.99% | — | — |
Current DrawdownCurrent decline from peak | -2.34% | -0.78% | -1.56% |
Average DrawdownAverage peak-to-trough decline | -3.68% | -1.58% | -2.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 0.58% | +1.39% |
Volatility
VOO vs. ZTIP.TO - Volatility Comparison
Vanguard S&P 500 ETF (VOO) has a higher volatility of 4.34% compared to BMO Short-Term US TIPS Index ETF (ZTIP.TO) at 1.06%. This indicates that VOO's price experiences larger fluctuations and is considered to be riskier than ZTIP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VOO | ZTIP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.34% | 1.06% | +3.28% |
Volatility (6M)Calculated over the trailing 6-month period | 9.58% | 3.94% | +5.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.27% | 5.79% | +6.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.88% | 7.81% | +9.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.03% | 7.78% | +10.25% |
VOO vs. ZTIP.TO - Expense Ratio Comparison
VOO has a 0.03% expense ratio, which is lower than ZTIP.TO's 0.17% 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
VOO vs. ZTIP.TO - Dividend Comparison
VOO's dividend yield for the trailing twelve months is around 1.05%, less than ZTIP.TO's 3.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VOO Vanguard S&P 500 ETF | 1.05% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
ZTIP.TO BMO Short-Term US TIPS Index ETF | 3.42% | 3.63% | 3.63% | 4.91% | 4.93% | 0.38% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VOO and ZTIP.TO have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VOO is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VOO is cheaper with a 0.03% expense ratio, compared with 0.17% for ZTIP.TO.
VOO is categorized as S&P 500, while ZTIP.TO is Inflation-Protected Bonds. VOO tracks S&P 500 Index, while ZTIP.TO tracks Bloomberg Barclays U.S. Government Inflation-Linked 0-5 Year Bond Index. They also come from different issuers: Vanguard and BMO. Their fees differ too: 0.03% for VOO and 0.17% for ZTIP.TO.
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