PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
VUN.TO vs. ZLH.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VUN.TO vs. ZLH.TO

Last updated Jul 15, 2026
Documentation

VUN.TO (Vanguard U.S. Total Market Index ETF) and ZLH.TO (BMO Low Volatility US Equity Hedged to CAD ETF) are both Large Cap Blend Equities funds. Over the past 10 years, VUN.TO returned 15.26%/yr vs 7.33%/yr for ZLH.TO. At a 0.36 correlation, their price movements are largely independent. VUN.TO charges 0.17%/yr vs 0.30%/yr for ZLH.TO.

Performance

VUN.TO vs. ZLH.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard U.S. Total Market Index ETF (VUN.TO) and BMO Low Volatility US Equity Hedged to CAD ETF (ZLH.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, VUN.TO achieves a 14.14% return, which is significantly higher than ZLH.TO's 9.02% return. Over the past 10 years, VUN.TO has outperformed ZLH.TO with an annualized return of 15.26%, while ZLH.TO has yielded a comparatively lower 7.33% annualized return.

VUN.TO

1D
-0.12%
1M
2.35%
6M
10.48%
YTD
14.14%
1Y
25.15%
3Y*
22.08%
5Y*
14.32%
10Y*
15.26%

ZLH.TO

1D
-1.52%
1M
0.23%
6M
7.96%
YTD
9.02%
1Y
9.11%
3Y*
8.51%
5Y*
6.62%
10Y*
7.33%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VUN.TO vs. ZLH.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VUN.TO
Vanguard U.S. Total Market Index ETF		14.14%11.43%33.76%23.00%-14.20%24.54%18.22%23.99%2.35%13.01%
ZLH.TO
BMO Low Volatility US Equity Hedged to CAD ETF		9.02%5.90%10.95%-2.11%0.20%22.07%2.34%25.20%-1.85%11.93%

Correlation

The correlation between VUN.TO and ZLH.TO is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.20

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

0.22

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

0.28

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

0.36

Correlation (All Time)
Calculated using the full available price history since Feb 10, 2016

0.36

The correlation between VUN.TO and ZLH.TO shifts across timeframes, from 0.20 (1 year) to 0.36 (all time), reflecting how their relationship changes across market environments.

VUN.TO vs. ZLH.TO - Sectors Allocation Comparison

Sectors
VUN.TO
ZLH.TO

Technology

33.5%
18.7%

Financial Services

12.0%
11.7%

Communication Services

10.3%
3.0%

Consumer Cyclical

10.0%
3.2%

Industrials

9.8%
6.3%

Healthcare

9.2%
17.8%

Consumer Defensive

4.7%
12.4%

Energy

3.7%
0.7%

Real Estate

2.4%
3.4%

Utilities

2.3%
20.7%

Basic Materials

2.0%
2.2%

Technology

VUN.TO
33.5%
ZLH.TO
18.7%

Financial Services

VUN.TO
12.0%
ZLH.TO
11.7%

Communication Services

VUN.TO
10.3%
ZLH.TO
3.0%

Consumer Cyclical

VUN.TO
10.0%
ZLH.TO
3.2%

Industrials

VUN.TO
9.8%
ZLH.TO
6.3%

Healthcare

VUN.TO
9.2%
ZLH.TO
17.8%

Consumer Defensive

VUN.TO
4.7%
ZLH.TO
12.4%

Energy

VUN.TO
3.7%
ZLH.TO
0.7%

Real Estate

VUN.TO
2.4%
ZLH.TO
3.4%

Utilities

VUN.TO
2.3%
ZLH.TO
20.7%

Basic Materials

VUN.TO
2.0%
ZLH.TO
2.2%

Compare stocks, funds, or ETFs

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

Vanguard U.S. Total Market Index ETF

BMO Low Volatility US Equity Hedged to CAD ETF

Often compared with VUN.TO:
VUN.TO vs. XUU.TOVUN.TO vs. VOOVUN.TO vs. VCN.TOVUN.TO vs. VTIVUN.TO vs. VEQT.TOVUN.TO vs. VFV.TOVUN.TO vs. TPU.TO
Often compared with ZLH.TO:
ZLH.TO vs. ESGY.TOZLH.TO vs. TULV.TOZLH.TO vs. XTOT.TOZLH.TO vs. ZLU.TOZLH.TO vs. XMS.TOZLH.TO vs. XMU.TOZLH.TO vs. SMVP.TO

Return for Risk

VUN.TO vs. ZLH.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VUN.TO
VUN.TO Risk / Return Rank: 7777
Overall Rank
VUN.TO Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
VUN.TO Sortino Ratio Rank: 7979
Sortino Ratio Rank
VUN.TO Omega Ratio Rank: 7777
Omega Ratio Rank
VUN.TO Calmar Ratio Rank: 7373
Calmar Ratio Rank
VUN.TO Martin Ratio Rank: 7575
Martin Ratio Rank
ZLH.TO
ZLH.TO Risk / Return Rank: 2828
Overall Rank
ZLH.TO Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
ZLH.TO Sortino Ratio Rank: 2525
Sortino Ratio Rank
ZLH.TO Omega Ratio Rank: 2828
Omega Ratio Rank
ZLH.TO Calmar Ratio Rank: 3030
Calmar Ratio Rank
ZLH.TO Martin Ratio Rank: 2727
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.

VUN.TO vs. ZLH.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard U.S. Total Market Index ETF (VUN.TO) and BMO Low Volatility US Equity Hedged to CAD ETF (ZLH.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.

VUN.TOZLH.TODifference
Sharpe ratioReturn per unit of total volatility
2.01
0.85

+1.16

Sortino ratioReturn per unit of downside risk
2.79
1.15

+1.64

Omega ratioGain probability vs. loss probability

1.36

1.16

+0.20

Calmar ratioReturn relative to maximum drawdown

2.97

1.25

+1.72

Martin ratioReturn relative to average drawdown

10.92

3.02

+7.90

VUN.TO vs. ZLH.TO - Sharpe Ratio Comparison

The current VUN.TO Sharpe Ratio is 2.01, which is higher than the ZLH.TO Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of VUN.TO and ZLH.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.

Loading charts...

Drawdowns

VUN.TO vs. ZLH.TO - Drawdown Comparison

The maximum VUN.TO drawdown since its inception was -28.19%, smaller than the maximum ZLH.TO drawdown of -33.34%. Use the drawdown chart below to compare losses from any high point for VUN.TO and ZLH.TO.

Loading charts...

Drawdown Indicators

VUN.TOZLH.TODifference

Max Drawdown

Largest peak-to-trough decline

-28.19%

-33.34%

+5.15%

Max Drawdown (1Y)

Largest decline over 1 year

-8.51%

-7.35%

-1.16%

Max Drawdown (3Y)

Largest decline over 3 years

-19.88%

-10.17%

-9.71%

Max Drawdown (5Y)

Largest decline over 5 years

-23.67%

-14.66%

-9.01%

Max Drawdown (10Y)

Largest decline over 10 years

-28.19%

-33.34%

+5.15%

Current Drawdown

Current decline from peak

-1.09%

-2.18%

+1.09%

Average Drawdown

Average peak-to-trough decline

-3.78%

-3.90%

+0.12%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.31%

3.03%

-0.72%

Volatility

VUN.TO vs. ZLH.TO - Volatility Comparison

The current volatility for Vanguard U.S. Total Market Index ETF (VUN.TO) is 3.77%, while BMO Low Volatility US Equity Hedged to CAD ETF (ZLH.TO) has a volatility of 4.33%. This indicates that VUN.TO experiences smaller price fluctuations and is considered to be less risky than ZLH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

VUN.TOZLH.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.77%

4.33%

-0.56%

Volatility (6M)

Calculated over the trailing 6-month period

9.76%

7.78%

+1.98%

Volatility (1Y)

Calculated over the trailing 1-year period

12.60%

10.79%

+1.81%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.57%

12.27%

+3.30%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.73%

13.84%

+2.89%

VUN.TO vs. ZLH.TO - Expense Ratio Comparison

VUN.TO has a 0.17% expense ratio, which is lower than ZLH.TO's 0.30% expense ratio.

Dividends

VUN.TO vs. ZLH.TO - Dividend Comparison

VUN.TO's dividend yield for the trailing twelve months is around 0.76%, less than ZLH.TO's 1.74% yield.

PositionTTM20252024202320222021202020192018201720162015
VUN.TO
Vanguard U.S. Total Market Index ETF		0.76%0.84%0.93%1.10%1.21%0.97%1.15%1.45%1.52%1.39%1.50%1.49%
ZLH.TO
BMO Low Volatility US Equity Hedged to CAD ETF		1.74%1.92%2.25%2.45%2.12%1.84%1.95%1.55%2.00%1.93%2.02%0.00%

Frequently Asked Questions

VUN.TO and ZLH.TO have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VUN.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VUN.TO is cheaper with a 0.17% expense ratio, compared with 0.30% for ZLH.TO.

They also come from different issuers: Vanguard and BMO. Their fees differ too: 0.17% for VUN.TO and 0.30% for ZLH.TO.

Portfolio Optimizer

Find the right allocation for VUN.TO and ZLH.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer