XMV.TO vs. ZMMK.TO
XMV.TO (iShares MSCI Min Vol Canada Index ETF) and ZMMK.TO (BMO Money Market Fund ETF Series) are both exchange-traded funds - XMV.TO is a Canada Equities fund tracking the Morningstar Canada GR CAD, while ZMMK.TO is a Money Market fund actively managed by BMO. XMV.TO is passively managed, while ZMMK.TO is actively managed. Over the past 3 years, XMV.TO returned 15.52%/yr vs 3.86%/yr for ZMMK.TO. At a 0.05 correlation, their price movements are largely independent. XMV.TO charges 0.33%/yr vs 0.13%/yr for ZMMK.TO.
Performance
XMV.TO vs. ZMMK.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XMV.TO achieves a 7.72% return, which is significantly higher than ZMMK.TO's 0.99% return.
XMV.TO
- 1D
- -0.32%
- 1M
- 2.37%
- YTD
- 7.72%
- 6M
- 5.68%
- 1Y
- 15.15%
- 3Y*
- 15.52%
- 5Y*
- 11.01%
- 10Y*
- 9.45%
ZMMK.TO
- 1D
- 0.04%
- 1M
- 0.19%
- YTD
- 0.99%
- 6M
- 1.17%
- 1Y
- 2.50%
- 3Y*
- 3.86%
- 5Y*
- —
- 10Y*
- —
XMV.TO vs. ZMMK.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XMV.TO iShares MSCI Min Vol Canada Index ETF | 7.72% | 17.87% | 15.63% | 10.94% | -1.64% | 0.21% |
ZMMK.TO BMO Money Market Fund ETF Series | 0.99% | 2.77% | 4.94% | 4.86% | 1.99% | 0.04% |
Correlation
The correlation between XMV.TO and ZMMK.TO is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2021 | 0.05 |
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Return for Risk
XMV.TO vs. ZMMK.TO — Risk / Return Rank
XMV.TO
ZMMK.TO
XMV.TO vs. ZMMK.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Min Vol Canada Index ETF (XMV.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.
| XMV.TO | ZMMK.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -8.04 | ||
| Sortino ratioReturn per unit of downside risk | -21.87 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 5.48 | -4.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.59 | 83.57 | -80.98 |
| Martin ratioReturn relative to average drawdown | 9.14 | 380.38 | -371.25 |
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
| XMV.TO | ZMMK.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.64 | 9.68 | -8.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.06 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 10.31 | -9.45 |
Drawdowns
XMV.TO vs. ZMMK.TO - Drawdown Comparison
The maximum XMV.TO drawdown since its inception was -35.58%, 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 XMV.TO and ZMMK.TO.
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Drawdown Indicators
| XMV.TO | ZMMK.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.58% | -0.16% | -35.42% |
Max Drawdown (1Y)Largest decline over 1 year | -5.88% | -0.03% | -5.85% |
Max Drawdown (3Y)Largest decline over 3 years | -9.77% | -0.08% | -9.69% |
Max Drawdown (5Y)Largest decline over 5 years | -15.57% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -35.58% | — | — |
Current DrawdownCurrent decline from peak | -1.26% | 0.00% | -1.26% |
Average DrawdownAverage peak-to-trough decline | -3.14% | -0.00% | -3.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.66% | 0.01% | +1.65% |
Volatility
XMV.TO vs. ZMMK.TO - Volatility Comparison
iShares MSCI Min Vol Canada Index ETF (XMV.TO) has a higher volatility of 2.26% compared to BMO Money Market Fund ETF Series (ZMMK.TO) at 0.06%. This indicates that XMV.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
| XMV.TO | ZMMK.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.26% | 0.06% | +2.20% |
Volatility (6M)Calculated over the trailing 6-month period | 7.68% | 0.18% | +7.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.28% | 0.26% | +9.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.40% | 0.34% | +10.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.93% | 0.34% | +12.59% |
XMV.TO vs. ZMMK.TO - Expense Ratio Comparison
XMV.TO has a 0.33% expense ratio, which is higher than ZMMK.TO's 0.13% expense ratio.
Dividends
XMV.TO vs. ZMMK.TO - Dividend Comparison
XMV.TO's dividend yield for the trailing twelve months is around 2.12%, less than ZMMK.TO's 2.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XMV.TO iShares MSCI Min Vol Canada Index ETF | 2.12% | 2.21% | 2.33% | 2.62% | 2.41% | 2.04% | 2.73% | 2.44% | 2.93% | 2.49% | 2.11% | 2.47% |
ZMMK.TO BMO Money Market Fund ETF Series | 2.53% | 3.02% | 4.66% | 4.98% | 1.95% | 0.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XMV.TO and ZMMK.TO have a correlation of 0.09, 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 0.33% for XMV.TO.
XMV.TO is categorized as Canada Equities, while ZMMK.TO is Money Market. They also come from different issuers: iShares and BMO. Their fees differ too: 0.33% for XMV.TO and 0.13% for ZMMK.TO.
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