XEQT.TO vs. ZDB.TO
XEQT.TO (iShares Core Equity ETF Portfolio) and ZDB.TO (BMO Discount Bond) are both exchange-traded funds - XEQT.TO is a Global Equities fund actively managed by iShares, while ZDB.TO is a Canadian Government Bonds fund tracking the FTSE Canada Universe Discount Bond Index. XEQT.TO is actively managed, while ZDB.TO is passively managed. Over the past 5 years, XEQT.TO returned 13.69%/yr vs 0.49%/yr for ZDB.TO. At a 0.11 correlation, their price movements are largely independent. XEQT.TO charges 0.20%/yr vs 0.10%/yr for ZDB.TO.
Performance
XEQT.TO vs. ZDB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XEQT.TO achieves a 12.26% return, which is significantly higher than ZDB.TO's 1.60% return.
XEQT.TO
- 1D
- 0.63%
- 1M
- 2.69%
- YTD
- 12.26%
- 6M
- 12.73%
- 1Y
- 29.47%
- 3Y*
- 21.81%
- 5Y*
- 13.69%
- 10Y*
- —
ZDB.TO
- 1D
- 0.00%
- 1M
- 1.27%
- YTD
- 1.60%
- 6M
- 1.97%
- 1Y
- 3.25%
- 3Y*
- 4.65%
- 5Y*
- 0.49%
- 10Y*
- 1.64%
XEQT.TO vs. ZDB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XEQT.TO iShares Core Equity ETF Portfolio | 12.26% | 20.57% | 24.38% | 17.27% | -10.99% | 18.98% | 11.85% | 8.56% |
ZDB.TO BMO Discount Bond | 1.60% | 2.03% | 4.26% | 6.69% | -11.99% | -2.77% | 9.50% | -1.26% |
Correlation
The correlation between XEQT.TO and ZDB.TO is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Aug 14, 2019 | 0.11 |
Over the past year, XEQT.TO and ZDB.TO have become more correlated (0.36) than their long-term average of 0.11, meaning their price movements have been converging.
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Return for Risk
XEQT.TO vs. ZDB.TO — Risk / Return Rank
XEQT.TO
ZDB.TO
XEQT.TO vs. ZDB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Equity ETF Portfolio (XEQT.TO) and BMO Discount Bond (ZDB.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.
| XEQT.TO | ZDB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.68 | ||
| Sortino ratioReturn per unit of downside risk | +2.26 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.13 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 3.59 | 1.17 | +2.42 |
| Martin ratioReturn relative to average drawdown | 15.41 | 2.68 | +12.73 |
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Drawdowns
XEQT.TO vs. ZDB.TO - Drawdown Comparison
The maximum XEQT.TO drawdown since its inception was -29.74%, which is greater than ZDB.TO's maximum drawdown of -18.09%. Use the drawdown chart below to compare losses from any high point for XEQT.TO and ZDB.TO.
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Drawdown Indicators
| XEQT.TO | ZDB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.74% | -18.09% | -11.65% |
Max Drawdown (1Y)Largest decline over 1 year | -8.25% | -2.79% | -5.46% |
Max Drawdown (3Y)Largest decline over 3 years | -15.08% | -5.07% | -10.01% |
Max Drawdown (5Y)Largest decline over 5 years | -19.55% | -16.25% | -3.30% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.09% | — |
Current DrawdownCurrent decline from peak | -0.84% | -1.38% | +0.54% |
Average DrawdownAverage peak-to-trough decline | -4.09% | -4.15% | +0.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 1.22% | +0.70% |
Volatility
XEQT.TO vs. ZDB.TO - Volatility Comparison
iShares Core Equity ETF Portfolio (XEQT.TO) has a higher volatility of 5.02% compared to BMO Discount Bond (ZDB.TO) at 1.54%. This indicates that XEQT.TO's price experiences larger fluctuations and is considered to be riskier than ZDB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XEQT.TO | ZDB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.02% | 1.54% | +3.48% |
Volatility (6M)Calculated over the trailing 6-month period | 10.06% | 3.22% | +6.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.17% | 4.37% | +7.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.21% | 6.49% | +6.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.58% | 6.38% | +9.20% |
XEQT.TO vs. ZDB.TO - Expense Ratio Comparison
XEQT.TO has a 0.20% expense ratio, which is higher than ZDB.TO's 0.10% 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
XEQT.TO vs. ZDB.TO - Dividend Comparison
XEQT.TO's dividend yield for the trailing twelve months is around 1.48%, less than ZDB.TO's 2.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XEQT.TO iShares Core Equity ETF Portfolio | 1.48% | 1.66% | 2.03% | 2.09% | 2.14% | 1.66% | 1.69% | 1.21% | 0.00% | 0.00% | 0.00% | 0.00% |
ZDB.TO BMO Discount Bond | 2.00% | 2.28% | 2.38% | 2.42% | 2.52% | 2.16% | 2.06% | 2.20% | 2.30% | 2.28% | 2.22% | 2.26% |
Frequently Asked Questions
XEQT.TO and ZDB.TO have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZDB.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZDB.TO is cheaper with a 0.10% expense ratio, compared with 0.20% for XEQT.TO.
XEQT.TO is categorized as Global Equities, while ZDB.TO is Canadian Government Bonds. They also come from different issuers: iShares and BMO. Their fees differ too: 0.20% for XEQT.TO and 0.10% for ZDB.TO.
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