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XGI.TO vs. ZIN.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XGI.TO vs. ZIN.TO

Last updated Jun 25, 2026

XGI.TO (iShares S&P Global Industrials Index ETF (CAD-Hedged)) and ZIN.TO (BMO Equal Weight Industrials Index ETF) are both Industrials Equities funds - XGI.TO tracks the Morningstar Gbl GR CAD while ZIN.TO tracks the Solactive Equal Weight Canada Industrials Index. Both are passively managed. Over the past 10 years, XGI.TO returned 12.64%/yr vs 13.52%/yr for ZIN.TO. At a 0.33 correlation, their price movements are largely independent. XGI.TO charges 0.68%/yr vs 0.61%/yr for ZIN.TO.

Performance

XGI.TO vs. ZIN.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P Global Industrials Index ETF (CAD-Hedged) (XGI.TO) and BMO Equal Weight Industrials Index ETF (ZIN.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, XGI.TO achieves a 12.31% return, which is significantly lower than ZIN.TO's 20.02% return. Over the past 10 years, XGI.TO has underperformed ZIN.TO with an annualized return of 12.64%, while ZIN.TO has yielded a comparatively higher 13.52% annualized return.

XGI.TO

1D
0.37%
1M
1.69%
YTD
12.31%
6M
12.64%
1Y
24.79%
3Y*
19.85%
5Y*
12.33%
10Y*
12.64%

ZIN.TO

1D
-0.94%
1M
-0.91%
YTD
20.02%
6M
18.94%
1Y
35.53%
3Y*
21.18%
5Y*
12.53%
10Y*
13.52%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XGI.TO vs. ZIN.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XGI.TO
iShares S&P Global Industrials Index ETF (CAD-Hedged)		12.31%20.93%16.18%21.83%-8.79%14.92%4.64%26.41%-11.83%20.23%
ZIN.TO
BMO Equal Weight Industrials Index ETF		20.02%16.80%16.33%19.36%-8.05%17.86%6.62%22.67%-6.61%17.73%

Correlation

The correlation between XGI.TO and ZIN.TO is 0.50, 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

0.50

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

0.44

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

0.46

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

0.35

Correlation (All Time)
Calculated using the full available price history since Apr 2, 2013

0.33

The correlation between XGI.TO and ZIN.TO shifts across timeframes, from 0.33 (all time) to 0.50 (1 year), reflecting how their relationship changes across market environments.

XGI.TO vs. ZIN.TO - Sectors Allocation Comparison

Sectors
XGI.TO
ZIN.TO

Industrials

94.4%
69.7%

Technology

4.0%

-

Utilities

2.6%
2.9%

Communication Services

1.1%

-

Consumer Cyclical

0.2%
7.9%

Basic Materials

0.2%
2.6%

Financial Services

0.1%
5.0%

Consumer Defensive

0.1%

-

Energy

-

9.6%

Healthcare

-

-

Real Estate

-

2.4%

Industrials

XGI.TO
94.4%
ZIN.TO
69.7%

Technology

XGI.TO
4.0%
ZIN.TO

-

Utilities

XGI.TO
2.6%
ZIN.TO
2.9%

Communication Services

XGI.TO
1.1%
ZIN.TO

-

Consumer Cyclical

XGI.TO
0.2%
ZIN.TO
7.9%

Basic Materials

XGI.TO
0.2%
ZIN.TO
2.6%

Financial Services

XGI.TO
0.1%
ZIN.TO
5.0%

Consumer Defensive

XGI.TO
0.1%
ZIN.TO

-

Energy

XGI.TO

-

ZIN.TO
9.6%

Healthcare

XGI.TO

-

ZIN.TO

-

Real Estate

XGI.TO

-

ZIN.TO
2.4%

Compare stocks, funds, or ETFs

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iShares S&P Global Industrials Index ETF (CAD-Hedged)

BMO Equal Weight Industrials Index ETF

Often compared with XGI.TO:
XGI.TO vs. CEW.TOXGI.TO vs. SPGIXGI.TO vs. CIF.TOXGI.TO vs. XUU.TOXGI.TO vs. XDIV.TOXGI.TO vs. ZDJ.TOXGI.TO vs. EQL.TO
Often compared with ZIN.TO:
ZIN.TO vs. ZEB.TOZIN.TO vs. ZMMK.TOZIN.TO vs. ZCN.TOZIN.TO vs. ZMI.TOZIN.TO vs. ZSP.TOZIN.TO vs. FIE.TOZIN.TO vs. VDY.TO

Return for Risk

XGI.TO vs. ZIN.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XGI.TO
XGI.TO Risk / Return Rank: 5454
Overall Rank
XGI.TO Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
XGI.TO Sortino Ratio Rank: 5757
Sortino Ratio Rank
XGI.TO Omega Ratio Rank: 5757
Omega Ratio Rank
XGI.TO Calmar Ratio Rank: 4848
Calmar Ratio Rank
XGI.TO Martin Ratio Rank: 5555
Martin Ratio Rank
ZIN.TO
ZIN.TO Risk / Return Rank: 8383
Overall Rank
ZIN.TO Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
ZIN.TO Sortino Ratio Rank: 7878
Sortino Ratio Rank
ZIN.TO Omega Ratio Rank: 7979
Omega Ratio Rank
ZIN.TO Calmar Ratio Rank: 8787
Calmar Ratio Rank
ZIN.TO Martin Ratio Rank: 8484
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.

XGI.TO vs. ZIN.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P Global Industrials Index ETF (CAD-Hedged) (XGI.TO) and BMO Equal Weight Industrials Index ETF (ZIN.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.

XGI.TOZIN.TODifference
Sharpe ratioReturn per unit of total volatility
1.63
2.33

-0.69

Sortino ratioReturn per unit of downside risk
2.40
3.04

-0.64

Omega ratioGain probability vs. loss probability

1.31

1.41

-0.10

Calmar ratioReturn relative to maximum drawdown

2.12

4.41

-2.29

Martin ratioReturn relative to average drawdown

8.53

15.09

-6.56

XGI.TO vs. ZIN.TO - Sharpe Ratio Comparison

The current XGI.TO Sharpe Ratio is 1.63, which is comparable to the ZIN.TO Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of XGI.TO and ZIN.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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Drawdowns

XGI.TO vs. ZIN.TO - Drawdown Comparison

The maximum XGI.TO drawdown since its inception was -42.61%, roughly equal to the maximum ZIN.TO drawdown of -44.01%. Use the drawdown chart below to compare losses from any high point for XGI.TO and ZIN.TO.

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Drawdown Indicators

XGI.TOZIN.TODifference

Max Drawdown

Largest peak-to-trough decline

-42.61%

-44.01%

+1.40%

Max Drawdown (1Y)

Largest decline over 1 year

-11.74%

-8.10%

-3.64%

Max Drawdown (3Y)

Largest decline over 3 years

-16.14%

-22.39%

+6.25%

Max Drawdown (5Y)

Largest decline over 5 years

-24.78%

-23.10%

-1.68%

Max Drawdown (10Y)

Largest decline over 10 years

-42.61%

-44.01%

+1.40%

Current Drawdown

Current decline from peak

-1.70%

-3.53%

+1.83%

Average Drawdown

Average peak-to-trough decline

-5.76%

-5.79%

+0.03%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.91%

2.36%

+0.55%

Volatility

XGI.TO vs. ZIN.TO - Volatility Comparison

The current volatility for iShares S&P Global Industrials Index ETF (CAD-Hedged) (XGI.TO) is 4.85%, while BMO Equal Weight Industrials Index ETF (ZIN.TO) has a volatility of 5.19%. This indicates that XGI.TO experiences smaller price fluctuations and is considered to be less risky than ZIN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XGI.TOZIN.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.85%

5.19%

-0.34%

Volatility (6M)

Calculated over the trailing 6-month period

13.15%

12.24%

+0.91%

Volatility (1Y)

Calculated over the trailing 1-year period

15.24%

15.35%

-0.11%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.29%

16.81%

+0.48%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.07%

18.07%

+6.00%

XGI.TO vs. ZIN.TO - Expense Ratio Comparison

XGI.TO has a 0.68% expense ratio, which is higher than ZIN.TO's 0.61% expense ratio.

Dividends

XGI.TO vs. ZIN.TO - Dividend Comparison

XGI.TO's dividend yield for the trailing twelve months is around 1.37%, more than ZIN.TO's 0.97% yield.

PositionTTM20252024202320222021202020192018201720162015
XGI.TO
iShares S&P Global Industrials Index ETF (CAD-Hedged)		1.37%1.54%2.69%1.24%1.34%0.91%0.96%1.30%1.88%1.15%1.39%1.46%
ZIN.TO
BMO Equal Weight Industrials Index ETF		0.97%1.22%1.42%1.68%2.01%1.84%2.10%2.32%1.82%1.35%1.48%2.25%

Frequently Asked Questions

XGI.TO and ZIN.TO have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZIN.TO is cheaper at 0.61% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZIN.TO is cheaper with a 0.61% expense ratio, compared with 0.68% for XGI.TO.

XGI.TO tracks Morningstar Gbl GR CAD, while ZIN.TO tracks Solactive Equal Weight Canada Industrials Index. They also come from different issuers: iShares and BMO. Their fees differ too: 0.68% for XGI.TO and 0.61% for ZIN.TO.

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