XESG.TO vs. ZGQ.TO
XESG.TO (iShares ESG Aware MSCI Canada Index ETF) and ZGQ.TO (BMO MSCI All Country World High Quality Index ETF) are both exchange-traded funds - XESG.TO is a Canada Equities fund tracking the Morningstar Canada GR CAD, while ZGQ.TO is a Global Equities fund tracking the MSCI All Country World High Quality Index. Both are passively managed. Over the past 5 years, XESG.TO returned 12.42%/yr vs 13.96%/yr for ZGQ.TO. A 0.56 correlation means they provide meaningful diversification when combined. XESG.TO charges 0.16%/yr vs 0.50%/yr for ZGQ.TO.
Performance
XESG.TO vs. ZGQ.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XESG.TO achieves a 10.34% return, which is significantly lower than ZGQ.TO's 13.23% return.
XESG.TO
- 1D
- -0.94%
- 1M
- 3.12%
- YTD
- 10.34%
- 6M
- 9.25%
- 1Y
- 29.31%
- 3Y*
- 20.90%
- 5Y*
- 12.42%
- 10Y*
- —
ZGQ.TO
- 1D
- -0.05%
- 1M
- 6.84%
- YTD
- 13.23%
- 6M
- 8.19%
- 1Y
- 25.52%
- 3Y*
- 20.50%
- 5Y*
- 13.96%
- 10Y*
- 15.07%
XESG.TO vs. ZGQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XESG.TO iShares ESG Aware MSCI Canada Index ETF | 10.34% | 26.25% | 20.05% | 10.13% | -7.77% | 22.91% | 4.80% | 15.28% |
ZGQ.TO BMO MSCI All Country World High Quality Index ETF | 13.23% | 8.04% | 29.47% | 29.38% | -18.76% | 21.44% | 22.41% | 14.76% |
Correlation
The correlation between XESG.TO and ZGQ.TO is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Mar 25, 2019 | 0.56 |
The correlation between XESG.TO and ZGQ.TO has been stable across timeframes, ranging from 0.56 to 0.60 - a consistent structural relationship.
XESG.TO vs. ZGQ.TO - Sectors Allocation Comparison
Sectors
XESG.TO
ZGQ.TO
Financial Services
Energy
Basic Materials
Industrials
Technology
Utilities
Consumer Cyclical
Consumer Defensive
Real Estate
Communication Services
Healthcare
Financial Services
XESG.TO
ZGQ.TO
Energy
XESG.TO
ZGQ.TO
Basic Materials
XESG.TO
ZGQ.TO
Industrials
XESG.TO
ZGQ.TO
Technology
XESG.TO
ZGQ.TO
Utilities
XESG.TO
ZGQ.TO
Consumer Cyclical
XESG.TO
ZGQ.TO
Consumer Defensive
XESG.TO
ZGQ.TO
Real Estate
XESG.TO
ZGQ.TO
Communication Services
XESG.TO
ZGQ.TO
Healthcare
XESG.TO
ZGQ.TO
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Return for Risk
XESG.TO vs. ZGQ.TO — Risk / Return Rank
XESG.TO
ZGQ.TO
XESG.TO vs. ZGQ.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares ESG Aware MSCI Canada Index ETF (XESG.TO) and BMO MSCI All Country World High Quality Index ETF (ZGQ.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.
| XESG.TO | ZGQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.34 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.17 | 2.78 | +0.39 |
| Martin ratioReturn relative to average drawdown | 14.11 | 11.30 | +2.81 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XESG.TO | ZGQ.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.24 | 1.83 | +0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.92 | 0.89 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.94 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 0.93 | -0.11 |
Drawdowns
XESG.TO vs. ZGQ.TO - Drawdown Comparison
The maximum XESG.TO drawdown since its inception was -37.36%, which is greater than ZGQ.TO's maximum drawdown of -26.68%. Use the drawdown chart below to compare losses from any high point for XESG.TO and ZGQ.TO.
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Drawdown Indicators
| XESG.TO | ZGQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.36% | -26.68% | -10.68% |
Max Drawdown (1Y)Largest decline over 1 year | -9.28% | -9.22% | -0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -14.18% | -18.36% | +4.18% |
Max Drawdown (5Y)Largest decline over 5 years | -17.91% | -26.68% | +8.77% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.68% | — |
Current DrawdownCurrent decline from peak | -0.94% | -1.17% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -4.55% | -4.49% | -0.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.08% | 2.27% | -0.19% |
Volatility
XESG.TO vs. ZGQ.TO - Volatility Comparison
The current volatility for iShares ESG Aware MSCI Canada Index ETF (XESG.TO) is 3.37%, while BMO MSCI All Country World High Quality Index ETF (ZGQ.TO) has a volatility of 4.57%. This indicates that XESG.TO experiences smaller price fluctuations and is considered to be less risky than ZGQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XESG.TO | ZGQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.37% | 4.57% | -1.20% |
Volatility (6M)Calculated over the trailing 6-month period | 10.94% | 11.49% | -0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.15% | 14.04% | -0.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.62% | 15.83% | -2.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.83% | 16.15% | +0.68% |
XESG.TO vs. ZGQ.TO - Expense Ratio Comparison
XESG.TO has a 0.16% expense ratio, which is lower than ZGQ.TO's 0.50% expense ratio.
Dividends
XESG.TO vs. ZGQ.TO - Dividend Comparison
XESG.TO's dividend yield for the trailing twelve months is around 1.96%, more than ZGQ.TO's 0.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XESG.TO iShares ESG Aware MSCI Canada Index ETF | 1.96% | 2.13% | 2.45% | 2.74% | 2.63% | 1.88% | 2.15% | 1.05% | 0.00% | 0.00% | 0.00% | 0.00% |
ZGQ.TO BMO MSCI All Country World High Quality Index ETF | 0.49% | 0.60% | 0.90% | 1.33% | 1.34% | 0.86% | 0.99% | 1.10% | 1.51% | 1.09% | 1.35% | 1.03% |
Frequently Asked Questions
XESG.TO and ZGQ.TO have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XESG.TO is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XESG.TO is cheaper with a 0.16% expense ratio, compared with 0.50% for ZGQ.TO.
XESG.TO is categorized as Canada Equities, while ZGQ.TO is Global Equities. XESG.TO tracks Morningstar Canada GR CAD, while ZGQ.TO tracks MSCI All Country World High Quality Index. They also come from different issuers: iShares and BMO. Their fees differ too: 0.16% for XESG.TO and 0.50% for ZGQ.TO.
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