XMW.TO vs. ZPR.TO
XMW.TO (iShares MSCI Min Vol Global Index ETF) and ZPR.TO (BMO Laddered Preferred Share Index ETF) are both exchange-traded funds - XMW.TO is a Global Equities fund tracking the Morningstar Gbl GR CAD, while ZPR.TO is a Preferred Stock/Convertible Bonds fund tracking the Solactive Laddered Canadian Preferred Share Index. Both are passively managed. Over the past 10 years, XMW.TO returned 7.21%/yr vs 8.40%/yr for ZPR.TO. At a 0.10 correlation, their price movements are largely independent. XMW.TO charges 0.48%/yr vs 0.45%/yr for ZPR.TO.
Performance
XMW.TO vs. ZPR.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XMW.TO achieves a 5.56% return, which is significantly lower than ZPR.TO's 8.50% return. Over the past 10 years, XMW.TO has underperformed ZPR.TO with an annualized return of 7.21%, while ZPR.TO has yielded a comparatively higher 8.40% annualized return.
XMW.TO
- 1D
- 0.58%
- 1M
- 1.55%
- 6M
- 3.54%
- YTD
- 5.56%
- 1Y
- 7.50%
- 3Y*
- 11.49%
- 5Y*
- 7.11%
- 10Y*
- 7.21%
ZPR.TO
- 1D
- 0.39%
- 1M
- 2.09%
- 6M
- 7.62%
- YTD
- 8.50%
- 1Y
- 16.77%
- 3Y*
- 20.12%
- 5Y*
- 8.41%
- 10Y*
- 8.40%
XMW.TO vs. ZPR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XMW.TO iShares MSCI Min Vol Global Index ETF | 5.56% | 5.84% | 20.05% | 4.68% | -4.33% | 12.80% | 0.51% | 14.74% | 5.95% | 10.19% |
ZPR.TO BMO Laddered Preferred Share Index ETF | 8.50% | 18.58% | 26.58% | 7.21% | -17.66% | 23.77% | 6.00% | 1.94% | -9.77% | 14.71% |
Correlation
The correlation between XMW.TO and ZPR.TO is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2012 | 0.10 |
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Return for Risk
XMW.TO vs. ZPR.TO — Risk / Return Rank
XMW.TO
ZPR.TO
XMW.TO vs. ZPR.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Min Vol Global Index ETF (XMW.TO) and BMO Laddered Preferred Share Index ETF (ZPR.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.
| XMW.TO | ZPR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.82 | ||
| Sortino ratioReturn per unit of downside risk | -4.37 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.81 | -0.61 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | 6.83 | -5.21 |
| Martin ratioReturn relative to average drawdown | 4.47 | 38.94 | -34.46 |
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Drawdowns
XMW.TO vs. ZPR.TO - Drawdown Comparison
The maximum XMW.TO drawdown since its inception was -21.42%, smaller than the maximum ZPR.TO drawdown of -44.72%. Use the drawdown chart below to compare losses from any high point for XMW.TO and ZPR.TO.
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Drawdown Indicators
| XMW.TO | ZPR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.42% | -44.72% | +23.30% |
Max Drawdown (1Y)Largest decline over 1 year | -5.14% | -2.47% | -2.67% |
Max Drawdown (3Y)Largest decline over 3 years | -8.59% | -8.75% | +0.16% |
Max Drawdown (5Y)Largest decline over 5 years | -14.45% | -23.06% | +8.61% |
Max Drawdown (10Y)Largest decline over 10 years | -21.42% | -44.13% | +22.71% |
Current DrawdownCurrent decline from peak | -1.29% | 0.00% | -1.29% |
Average DrawdownAverage peak-to-trough decline | -2.72% | -9.20% | +6.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.86% | 0.43% | +1.43% |
Volatility
XMW.TO vs. ZPR.TO - Volatility Comparison
iShares MSCI Min Vol Global Index ETF (XMW.TO) has a higher volatility of 2.21% compared to BMO Laddered Preferred Share Index ETF (ZPR.TO) at 0.94%. This indicates that XMW.TO's price experiences larger fluctuations and is considered to be riskier than ZPR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XMW.TO | ZPR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.21% | 0.94% | +1.27% |
Volatility (6M)Calculated over the trailing 6-month period | 5.71% | 2.71% | +3.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.69% | 4.31% | +3.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.72% | 8.32% | +0.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.05% | 11.42% | -0.37% |
XMW.TO vs. ZPR.TO - Expense Ratio Comparison
XMW.TO has a 0.48% expense ratio, which is higher than ZPR.TO's 0.45% expense ratio.
Dividends
XMW.TO vs. ZPR.TO - Dividend Comparison
XMW.TO's dividend yield for the trailing twelve months is around 1.44%, less than ZPR.TO's 5.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XMW.TO iShares MSCI Min Vol Global Index ETF | 1.44% | 1.58% | 1.81% | 1.98% | 1.66% | 1.43% | 1.52% | 2.20% | 2.01% | 1.61% | 2.02% | 1.85% |
ZPR.TO BMO Laddered Preferred Share Index ETF | 5.03% | 4.86% | 4.93% | 5.92% | 5.97% | 4.66% | 5.48% | 5.09% | 4.82% | 4.08% | 5.14% | 5.65% |
Frequently Asked Questions
XMW.TO and ZPR.TO have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZPR.TO is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZPR.TO is cheaper with a 0.45% expense ratio, compared with 0.48% for XMW.TO.
XMW.TO is categorized as Global Equities, while ZPR.TO is Preferred Stock/Convertible Bonds. XMW.TO tracks Morningstar Gbl GR CAD, while ZPR.TO tracks Solactive Laddered Canadian Preferred Share Index. They also come from different issuers: iShares and BMO. Their fees differ too: 0.48% for XMW.TO and 0.45% for ZPR.TO.
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