PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
XQLT.TO vs. ZPAY.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XQLT.TO vs. ZPAY.TO

Last updated Jun 4, 2026

XQLT.TO (iShares MSCI USA Quality Factor Index ETF) and ZPAY.TO (BMO Premium Yield ETF) are both Large Cap Growth Equities funds. XQLT.TO is passively managed, while ZPAY.TO is actively managed. Over the past 5 years, XQLT.TO returned 14.73%/yr vs 8.59%/yr for ZPAY.TO. A 0.69 correlation means they provide meaningful diversification when combined. XQLT.TO charges 0.32%/yr vs 0.73%/yr for ZPAY.TO.

Performance

XQLT.TO vs. ZPAY.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares MSCI USA Quality Factor Index ETF (XQLT.TO) and BMO Premium Yield ETF (ZPAY.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, XQLT.TO achieves a 10.01% return, which is significantly higher than ZPAY.TO's 4.79% return.

XQLT.TO

1D
0.35%
1M
6.81%
YTD
10.01%
6M
8.23%
1Y
22.80%
3Y*
20.56%
5Y*
14.73%
10Y*
—

ZPAY.TO

1D
0.37%
1M
3.77%
YTD
4.79%
6M
0.79%
1Y
10.41%
3Y*
9.74%
5Y*
8.59%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XQLT.TO vs. ZPAY.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
XQLT.TO
iShares MSCI USA Quality Factor Index ETF		10.01%7.09%32.37%28.08%-17.15%27.90%9.96%
ZPAY.TO
BMO Premium Yield ETF		4.79%2.61%16.94%16.87%-6.33%9.54%526.95%

Correlation

The correlation between XQLT.TO and ZPAY.TO is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.81

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

0.78

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

0.78

Correlation (All Time)
Calculated using the full available price history since Jan 22, 2020

0.69

The correlation between XQLT.TO and ZPAY.TO shifts across timeframes, from 0.69 (all time) to 0.81 (1 year), reflecting how their relationship changes across market environments.

XQLT.TO vs. ZPAY.TO - Sectors Allocation Comparison

Sectors
XQLT.TO
ZPAY.TO

Technology

37.0%
31.7%

Financial Services

11.8%
16.3%

Communication Services

11.0%
17.5%

Consumer Cyclical

9.3%
0.8%

Healthcare

8.8%
14.8%

Industrials

7.9%
7.4%

Consumer Defensive

4.9%
8.6%

Energy

4.0%

-

Utilities

1.8%

-

Real Estate

1.8%

-

Basic Materials

1.7%
2.9%

Technology

XQLT.TO
37.0%
ZPAY.TO
31.7%

Financial Services

XQLT.TO
11.8%
ZPAY.TO
16.3%

Communication Services

XQLT.TO
11.0%
ZPAY.TO
17.5%

Consumer Cyclical

XQLT.TO
9.3%
ZPAY.TO
0.8%

Healthcare

XQLT.TO
8.8%
ZPAY.TO
14.8%

Industrials

XQLT.TO
7.9%
ZPAY.TO
7.4%

Consumer Defensive

XQLT.TO
4.9%
ZPAY.TO
8.6%

Energy

XQLT.TO
4.0%
ZPAY.TO

-

Utilities

XQLT.TO
1.8%
ZPAY.TO

-

Real Estate

XQLT.TO
1.8%
ZPAY.TO

-

Basic Materials

XQLT.TO
1.7%
ZPAY.TO
2.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI USA Quality Factor Index ETF

BMO Premium Yield ETF

Often compared with XQLT.TO:
XQLT.TO vs. XVLU.TOXQLT.TO vs. VOOXQLT.TO vs. HYLD.TOXQLT.TO vs. SPYXQLT.TO vs. VFV.TOXQLT.TO vs. ZSP.TOXQLT.TO vs. XGRO.TO
Often compared with ZPAY.TO:
ZPAY.TO vs. VEQT.TOZPAY.TO vs. PFMN.TOZPAY.TO vs. SCHDZPAY.TO vs. VFV.TOZPAY.TO vs. SPYZPAY.TO vs. VDY.TOZPAY.TO vs. XGRO.TO

Return for Risk

XQLT.TO vs. ZPAY.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XQLT.TO
XQLT.TO Risk / Return Rank: 5757
Overall Rank
XQLT.TO Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
XQLT.TO Sortino Ratio Rank: 5959
Sortino Ratio Rank
XQLT.TO Omega Ratio Rank: 5656
Omega Ratio Rank
XQLT.TO Calmar Ratio Rank: 5555
Calmar Ratio Rank
XQLT.TO Martin Ratio Rank: 5959
Martin Ratio Rank
ZPAY.TO
ZPAY.TO Risk / Return Rank: 3131
Overall Rank
ZPAY.TO Sharpe Ratio Rank: 3535
Sharpe Ratio Rank
ZPAY.TO Sortino Ratio Rank: 3131
Sortino Ratio Rank
ZPAY.TO Omega Ratio Rank: 3535
Omega Ratio Rank
ZPAY.TO Calmar Ratio Rank: 2828
Calmar Ratio Rank
ZPAY.TO Martin Ratio Rank: 2626
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.

XQLT.TO vs. ZPAY.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Quality Factor Index ETF (XQLT.TO) and BMO Premium Yield ETF (ZPAY.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.

XQLT.TOZPAY.TODifference
Sharpe ratioReturn per unit of total volatility
1.94
1.27

+0.66

Sortino ratioReturn per unit of downside risk
2.81
1.73

+1.08

Omega ratioGain probability vs. loss probability

1.35

1.24

+0.11

Calmar ratioReturn relative to maximum drawdown

2.74

1.37

+1.38

Martin ratioReturn relative to average drawdown

10.40

3.57

+6.83

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XQLT.TO vs. ZPAY.TO - Sharpe Ratio Comparison

The current XQLT.TO Sharpe Ratio is 1.94, which is higher than the ZPAY.TO Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of XQLT.TO and ZPAY.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.

Loading charts...

Sharpe Ratios by Period

XQLT.TOZPAY.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.94

1.27

+0.66

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.95

0.82

+0.13

Sharpe Ratio (All Time)

Calculated using the full available price history

0.93

0.22

+0.71

Drawdowns

XQLT.TO vs. ZPAY.TO - Drawdown Comparison

The maximum XQLT.TO drawdown since its inception was -25.12%, which is greater than ZPAY.TO's maximum drawdown of -14.89%. Use the drawdown chart below to compare losses from any high point for XQLT.TO and ZPAY.TO.

Loading charts...

Drawdown Indicators

XQLT.TOZPAY.TODifference

Max Drawdown

Largest peak-to-trough decline

-25.12%

-14.89%

-10.23%

Max Drawdown (1Y)

Largest decline over 1 year

-8.35%

-7.64%

-0.71%

Max Drawdown (3Y)

Largest decline over 3 years

-18.95%

-12.47%

-6.48%

Max Drawdown (5Y)

Largest decline over 5 years

-25.12%

-14.76%

-10.36%

Current Drawdown

Current decline from peak

-1.21%

-1.70%

+0.49%

Average Drawdown

Average peak-to-trough decline

-5.20%

-2.66%

-2.54%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.20%

2.92%

-0.72%

Volatility

XQLT.TO vs. ZPAY.TO - Volatility Comparison

iShares MSCI USA Quality Factor Index ETF (XQLT.TO) has a higher volatility of 3.85% compared to BMO Premium Yield ETF (ZPAY.TO) at 2.74%. This indicates that XQLT.TO's price experiences larger fluctuations and is considered to be riskier than ZPAY.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

XQLT.TOZPAY.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.85%

2.74%

+1.11%

Volatility (6M)

Calculated over the trailing 6-month period

9.31%

6.70%

+2.61%

Volatility (1Y)

Calculated over the trailing 1-year period

11.85%

8.24%

+3.61%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.58%

10.53%

+5.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.44%

196.01%

-179.57%

XQLT.TO vs. ZPAY.TO - Expense Ratio Comparison

XQLT.TO has a 0.32% expense ratio, which is lower than ZPAY.TO's 0.73% expense ratio.

Dividends

XQLT.TO vs. ZPAY.TO - Dividend Comparison

XQLT.TO's dividend yield for the trailing twelve months is around 0.63%, less than ZPAY.TO's 7.40% yield.

PositionTTM2025202420232022202120202019
XQLT.TO
iShares MSCI USA Quality Factor Index ETF		0.63%0.69%0.72%0.94%1.21%0.87%1.11%1.23%
ZPAY.TO
BMO Premium Yield ETF		7.40%7.46%5.81%6.40%7.00%6.10%5.42%0.00%

Frequently Asked Questions

XQLT.TO and ZPAY.TO have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XQLT.TO is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XQLT.TO is cheaper with a 0.32% expense ratio, compared with 0.73% for ZPAY.TO.

They also come from different issuers: iShares and BMO. Their fees differ too: 0.32% for XQLT.TO and 0.73% for ZPAY.TO.

Portfolio Optimizer

Find the right allocation for XQLT.TO and ZPAY.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer