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XCNS.TO vs. ZMI.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XCNS.TO vs. ZMI.TO

Last updated Jun 5, 2026

XCNS.TO (iShares Core Conservative Balanced ETF Portfolio) and ZMI.TO (BMO Monthly Income ETF) are both Diversified Portfolio funds. Both are actively managed. Over the past 5 years, XCNS.TO returned 5.78%/yr vs 7.80%/yr for ZMI.TO. A 0.72 correlation means they provide meaningful diversification when combined. XCNS.TO charges 0.20%/yr vs 0.18%/yr for ZMI.TO.

Performance

XCNS.TO vs. ZMI.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core Conservative Balanced ETF Portfolio (XCNS.TO) and BMO Monthly Income ETF (ZMI.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XCNS.TO achieves a 5.93% return, which is significantly lower than ZMI.TO's 9.38% return.

XCNS.TO

1D
0.34%
1M
3.18%
YTD
5.93%
6M
4.54%
1Y
12.96%
3Y*
11.09%
5Y*
5.78%
10Y*
—

ZMI.TO

1D
0.30%
1M
4.20%
YTD
9.38%
6M
6.03%
1Y
16.07%
3Y*
12.51%
5Y*
7.80%
10Y*
6.61%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XCNS.TO vs. ZMI.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
XCNS.TO
iShares Core Conservative Balanced ETF Portfolio		5.93%9.44%11.73%10.66%-11.25%5.93%10.28%3.45%
ZMI.TO
BMO Monthly Income ETF		9.38%7.88%13.43%9.00%-5.89%11.25%2.40%4.72%

Correlation

The correlation between XCNS.TO and ZMI.TO is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.82

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

0.79

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

0.74

Correlation (All Time)
Calculated using the full available price history since Aug 26, 2019

0.72

The correlation between XCNS.TO and ZMI.TO shifts across timeframes, from 0.72 (all time) to 0.82 (1 year), reflecting how their relationship changes across market environments.

XCNS.TO vs. ZMI.TO - Sectors Allocation Comparison

Sectors
XCNS.TO
ZMI.TO

Technology

12.2%
16.4%

Financial Services

9.4%
20.1%

Industrials

3.6%
6.0%

Communication Services

3.1%
7.4%

Energy

3.1%
13.4%

Consumer Cyclical

3.1%
5.4%

Basic Materials

2.7%
5.3%

Healthcare

2.4%
9.8%

Consumer Defensive

1.7%
7.3%

Utilities

0.7%
5.8%

Real Estate

0.2%
3.1%

Technology

XCNS.TO
12.2%
ZMI.TO
16.4%

Financial Services

XCNS.TO
9.4%
ZMI.TO
20.1%

Industrials

XCNS.TO
3.6%
ZMI.TO
6.0%

Communication Services

XCNS.TO
3.1%
ZMI.TO
7.4%

Energy

XCNS.TO
3.1%
ZMI.TO
13.4%

Consumer Cyclical

XCNS.TO
3.1%
ZMI.TO
5.4%

Basic Materials

XCNS.TO
2.7%
ZMI.TO
5.3%

Healthcare

XCNS.TO
2.4%
ZMI.TO
9.8%

Consumer Defensive

XCNS.TO
1.7%
ZMI.TO
7.3%

Utilities

XCNS.TO
0.7%
ZMI.TO
5.8%

Real Estate

XCNS.TO
0.2%
ZMI.TO
3.1%

Compare stocks, funds, or ETFs

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

iShares Core Conservative Balanced ETF Portfolio

BMO Monthly Income ETF

Often compared with XCNS.TO:
XCNS.TO vs. XBAL.TOXCNS.TO vs. XINC.TOXCNS.TO vs. VCNS.TOXCNS.TO vs. XEQT.TOXCNS.TO vs. GCNS.TOXCNS.TO vs. XGRO.TOXCNS.TO vs. XTR.TO
Often compared with ZMI.TO:
ZMI.TO vs. XTR.TOZMI.TO vs. VRIF.TOZMI.TO vs. XDIV.TOZMI.TO vs. VDY.TOZMI.TO vs. VBAL.TOZMI.TO vs. ZBAL.TOZMI.TO vs. XEI.TO

Return for Risk

XCNS.TO vs. ZMI.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XCNS.TO
XCNS.TO Risk / Return Rank: 6060
Overall Rank
XCNS.TO Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
XCNS.TO Sortino Ratio Rank: 6060
Sortino Ratio Rank
XCNS.TO Omega Ratio Rank: 6464
Omega Ratio Rank
XCNS.TO Calmar Ratio Rank: 5555
Calmar Ratio Rank
XCNS.TO Martin Ratio Rank: 6060
Martin Ratio Rank
ZMI.TO
ZMI.TO Risk / Return Rank: 7070
Overall Rank
ZMI.TO Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
ZMI.TO Sortino Ratio Rank: 6666
Sortino Ratio Rank
ZMI.TO Omega Ratio Rank: 8080
Omega Ratio Rank
ZMI.TO Calmar Ratio Rank: 7070
Calmar Ratio Rank
ZMI.TO Martin Ratio Rank: 6262
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.

XCNS.TO vs. ZMI.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Conservative Balanced ETF Portfolio (XCNS.TO) and BMO Monthly Income ETF (ZMI.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.

XCNS.TOZMI.TODifference
Sharpe ratioReturn per unit of total volatility
1.95
2.27

-0.32

Sortino ratioReturn per unit of downside risk
2.80
2.99

-0.19

Omega ratioGain probability vs. loss probability

1.38

1.47

-0.09

Calmar ratioReturn relative to maximum drawdown

2.68

3.40

-0.72

Martin ratioReturn relative to average drawdown

10.44

11.09

-0.65

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

XCNS.TO vs. ZMI.TO - Sharpe Ratio Comparison

The current XCNS.TO Sharpe Ratio is 1.95, which is comparable to the ZMI.TO Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of XCNS.TO and ZMI.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

XCNS.TOZMI.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.95

2.27

-0.32

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.85

1.05

-0.21

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.75

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.87

0.77

+0.10

Drawdowns

XCNS.TO vs. ZMI.TO - Drawdown Comparison

The maximum XCNS.TO drawdown since its inception was -16.96%, smaller than the maximum ZMI.TO drawdown of -26.65%. Use the drawdown chart below to compare losses from any high point for XCNS.TO and ZMI.TO.

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Drawdown Indicators

XCNS.TOZMI.TODifference

Max Drawdown

Largest peak-to-trough decline

-16.96%

-26.65%

+9.69%

Max Drawdown (1Y)

Largest decline over 1 year

-4.86%

-4.75%

-0.11%

Max Drawdown (3Y)

Largest decline over 3 years

-6.40%

-8.81%

+2.41%

Max Drawdown (5Y)

Largest decline over 5 years

-16.09%

-12.65%

-3.44%

Max Drawdown (10Y)

Largest decline over 10 years

—

-26.65%

—

Current Drawdown

Current decline from peak

-0.45%

0.00%

-0.45%

Average Drawdown

Average peak-to-trough decline

-3.49%

-2.12%

-1.37%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.24%

1.45%

-0.21%

Volatility

XCNS.TO vs. ZMI.TO - Volatility Comparison

iShares Core Conservative Balanced ETF Portfolio (XCNS.TO) has a higher volatility of 3.14% compared to BMO Monthly Income ETF (ZMI.TO) at 2.26%. This indicates that XCNS.TO's price experiences larger fluctuations and is considered to be riskier than ZMI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XCNS.TOZMI.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.14%

2.26%

+0.88%

Volatility (6M)

Calculated over the trailing 6-month period

5.72%

5.81%

-0.09%

Volatility (1Y)

Calculated over the trailing 1-year period

6.67%

7.10%

-0.43%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.86%

7.43%

-0.57%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

7.61%

8.87%

-1.26%

XCNS.TO vs. ZMI.TO - Expense Ratio Comparison

XCNS.TO has a 0.20% expense ratio, which is higher than ZMI.TO's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XCNS.TO vs. ZMI.TO - Dividend Comparison

XCNS.TO's dividend yield for the trailing twelve months is around 2.49%, less than ZMI.TO's 3.92% yield.

PositionTTM20252024202320222021202020192018201720162015
XCNS.TO
iShares Core Conservative Balanced ETF Portfolio		2.49%2.55%2.58%2.49%2.26%1.81%2.15%0.92%0.00%0.00%0.00%0.00%
ZMI.TO
BMO Monthly Income ETF		3.92%4.54%4.68%4.94%4.49%3.71%4.21%4.24%4.58%4.06%3.89%3.89%

Frequently Asked Questions

XCNS.TO and ZMI.TO have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZMI.TO is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZMI.TO is cheaper with a 0.18% expense ratio, compared with 0.20% for XCNS.TO.

They also come from different issuers: iShares and BMO. Their fees differ too: 0.20% for XCNS.TO and 0.18% for ZMI.TO.

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