XDU.TO vs. ZMMK.TO
XDU.TO (iShares Core MSCI US Quality Dividend Index ETF) and ZMMK.TO (BMO Money Market Fund ETF Series) are both exchange-traded funds - XDU.TO is a Large Cap Value Equities fund tracking the Morningstar US Market TR CAD, while ZMMK.TO is a Money Market fund actively managed by BMO. XDU.TO is passively managed, while ZMMK.TO is actively managed. Over the past 3 years, XDU.TO returned 13.18%/yr vs 3.76%/yr for ZMMK.TO. At a correlation of -0.01, they often move in opposite directions. XDU.TO charges 0.16%/yr vs 0.13%/yr for ZMMK.TO.
Performance
XDU.TO vs. ZMMK.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XDU.TO achieves a 17.22% return, which is significantly higher than ZMMK.TO's 1.23% return.
XDU.TO
- 1D
- 0.32%
- 1M
- 2.40%
- 6M
- 13.21%
- YTD
- 17.22%
- 1Y
- 18.94%
- 3Y*
- 13.18%
- 5Y*
- 9.61%
- 10Y*
- —
ZMMK.TO
- 1D
- 0.02%
- 1M
- 0.20%
- 6M
- 1.15%
- YTD
- 1.23%
- 1Y
- 2.47%
- 3Y*
- 3.76%
- 5Y*
- —
- 10Y*
- —
XDU.TO vs. ZMMK.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XDU.TO iShares Core MSCI US Quality Dividend Index ETF | 17.22% | 2.51% | 14.32% | 3.75% | -3.70% | 12.19% |
ZMMK.TO BMO Money Market Fund ETF Series | 1.23% | 2.77% | 4.94% | 4.86% | 1.99% | 0.04% |
Correlation
The correlation between XDU.TO and ZMMK.TO is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2021 | -0.01 |
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Return for Risk
XDU.TO vs. ZMMK.TO — Risk / Return Rank
XDU.TO
ZMMK.TO
XDU.TO vs. ZMMK.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI US Quality Dividend Index ETF (XDU.TO) and BMO Money Market Fund ETF Series (ZMMK.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.
| XDU.TO | ZMMK.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.34 | ||
| Sortino ratioReturn per unit of downside risk | -19.86 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 5.35 | -4.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.10 | 61.92 | -58.82 |
| Martin ratioReturn relative to average drawdown | 9.22 | 352.30 | -343.08 |
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Drawdowns
XDU.TO vs. ZMMK.TO - Drawdown Comparison
The maximum XDU.TO drawdown since its inception was -28.56%, which is greater than ZMMK.TO's maximum drawdown of -0.16%. Use the drawdown chart below to compare losses from any high point for XDU.TO and ZMMK.TO.
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Drawdown Indicators
| XDU.TO | ZMMK.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.56% | -0.16% | -28.40% |
Max Drawdown (1Y)Largest decline over 1 year | -6.13% | -0.04% | -6.09% |
Max Drawdown (3Y)Largest decline over 3 years | -16.67% | -0.08% | -16.59% |
Max Drawdown (5Y)Largest decline over 5 years | -16.67% | — | — |
Current DrawdownCurrent decline from peak | -0.45% | 0.00% | -0.45% |
Average DrawdownAverage peak-to-trough decline | -5.96% | -0.00% | -5.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.06% | 0.01% | +2.05% |
Volatility
XDU.TO vs. ZMMK.TO - Volatility Comparison
iShares Core MSCI US Quality Dividend Index ETF (XDU.TO) has a higher volatility of 2.72% compared to BMO Money Market Fund ETF Series (ZMMK.TO) at 0.06%. This indicates that XDU.TO's price experiences larger fluctuations and is considered to be riskier than ZMMK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XDU.TO | ZMMK.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.72% | 0.06% | +2.66% |
Volatility (6M)Calculated over the trailing 6-month period | 7.43% | 0.18% | +7.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.87% | 0.27% | +10.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.87% | 0.34% | +18.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.94% | 0.34% | +28.60% |
XDU.TO vs. ZMMK.TO - Expense Ratio Comparison
XDU.TO has a 0.16% expense ratio, which is higher than ZMMK.TO's 0.13% 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
XDU.TO vs. ZMMK.TO - Dividend Comparison
XDU.TO's dividend yield for the trailing twelve months is around 2.19%, less than ZMMK.TO's 2.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
XDU.TO iShares Core MSCI US Quality Dividend Index ETF | 2.19% | 2.54% | 2.31% | 2.53% | 2.25% | 2.13% | 2.99% | 2.54% | 2.49% | 1.39% |
ZMMK.TO BMO Money Market Fund ETF Series | 2.46% | 3.02% | 4.66% | 4.98% | 1.95% | 0.04% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XDU.TO and ZMMK.TO have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZMMK.TO is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZMMK.TO is cheaper with a 0.13% expense ratio, compared with 0.16% for XDU.TO.
XDU.TO is categorized as Large Cap Value Equities, while ZMMK.TO is Money Market. They also come from different issuers: iShares and BMO. Their fees differ too: 0.16% for XDU.TO and 0.13% for ZMMK.TO.
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