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XST.TO vs. ZLB.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XST.TO vs. ZLB.TO

Last updated Jun 5, 2026

XST.TO (iShares S&P/TSX Capped Consumer Staples Index ETF) and ZLB.TO (BMO Low Volatility Canadian Equity ETF) are both exchange-traded funds - XST.TO is a Consumer Staples Equities fund tracking the Morningstar Gbl GR CAD, while ZLB.TO is a Canada Equities fund actively managed by BMO. XST.TO is passively managed, while ZLB.TO is actively managed. Over the past 10 years, XST.TO returned 9.62%/yr vs 10.79%/yr for ZLB.TO. A 0.65 correlation means they provide meaningful diversification when combined. XST.TO charges 0.61%/yr vs 0.39%/yr for ZLB.TO.

Performance

XST.TO vs. ZLB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX Capped Consumer Staples Index ETF (XST.TO) and BMO Low Volatility Canadian Equity ETF (ZLB.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, XST.TO achieves a 1.77% return, which is significantly lower than ZLB.TO's 4.04% return. Over the past 10 years, XST.TO has underperformed ZLB.TO with an annualized return of 9.62%, while ZLB.TO has yielded a comparatively higher 10.79% annualized return.

XST.TO

1D
0.28%
1M
1.37%
YTD
1.77%
6M
0.81%
1Y
7.32%
3Y*
13.98%
5Y*
12.73%
10Y*
9.62%

ZLB.TO

1D
0.87%
1M
1.80%
YTD
4.04%
6M
4.91%
1Y
16.44%
3Y*
15.72%
5Y*
11.81%
10Y*
10.79%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XST.TO vs. ZLB.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XST.TO
iShares S&P/TSX Capped Consumer Staples Index ETF		1.77%16.38%19.83%6.37%8.76%20.39%3.48%12.13%1.65%6.95%
ZLB.TO
BMO Low Volatility Canadian Equity ETF		4.04%25.29%15.31%9.41%-0.35%22.93%1.51%21.92%-2.76%11.07%

Correlation

The correlation between XST.TO and ZLB.TO is 0.63, 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

0.63

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

0.67

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

0.67

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

0.66

Correlation (All Time)
Calculated using the full available price history since Jan 25, 2012

0.65

The correlation between XST.TO and ZLB.TO has been stable across timeframes, ranging from 0.63 to 0.67 - a consistent structural relationship.

XST.TO vs. ZLB.TO - Sectors Allocation Comparison

Sectors
XST.TO
ZLB.TO

Consumer Defensive

74.9%
18.2%

Consumer Cyclical

25.1%
8.6%

Basic Materials

-

6.6%

Communication Services

-

9.2%

Energy

-

-

Financial Services

-

23.7%

Healthcare

-

-

Industrials

-

9.8%

Real Estate

-

4.3%

Technology

-

2.0%

Utilities

-

17.6%

Consumer Defensive

XST.TO
74.9%
ZLB.TO
18.2%

Consumer Cyclical

XST.TO
25.1%
ZLB.TO
8.6%

Basic Materials

XST.TO

-

ZLB.TO
6.6%

Communication Services

XST.TO

-

ZLB.TO
9.2%

Energy

XST.TO

-

ZLB.TO

-

Financial Services

XST.TO

-

ZLB.TO
23.7%

Healthcare

XST.TO

-

ZLB.TO

-

Industrials

XST.TO

-

ZLB.TO
9.8%

Real Estate

XST.TO

-

ZLB.TO
4.3%

Technology

XST.TO

-

ZLB.TO
2.0%

Utilities

XST.TO

-

ZLB.TO
17.6%

Compare stocks, funds, or ETFs

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iShares S&P/TSX Capped Consumer Staples Index ETF

BMO Low Volatility Canadian Equity ETF

Often compared with XST.TO:
XST.TO vs. VDCXST.TO vs. VOOXST.TO vs. BALTXST.TO vs. XQQ.TOXST.TO vs. XSTP.TOXST.TO vs. XCD.TOXST.TO vs. CHSCP
Often compared with ZLB.TO:
ZLB.TO vs. VDY.TOZLB.TO vs. XIU.TOZLB.TO vs. XDIV.TOZLB.TO vs. XMW.TOZLB.TO vs. XBAL.TOZLB.TO vs. XUT.TOZLB.TO vs. XUU-U.TO

Return for Risk

XST.TO vs. ZLB.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XST.TO
XST.TO Risk / Return Rank: 1717
Overall Rank
XST.TO Sharpe Ratio Rank: 1616
Sharpe Ratio Rank
XST.TO Sortino Ratio Rank: 1616
Sortino Ratio Rank
XST.TO Omega Ratio Rank: 1616
Omega Ratio Rank
XST.TO Calmar Ratio Rank: 1818
Calmar Ratio Rank
XST.TO Martin Ratio Rank: 1717
Martin Ratio Rank
ZLB.TO
ZLB.TO Risk / Return Rank: 6262
Overall Rank
ZLB.TO Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
ZLB.TO Sortino Ratio Rank: 6565
Sortino Ratio Rank
ZLB.TO Omega Ratio Rank: 6060
Omega Ratio Rank
ZLB.TO Calmar Ratio Rank: 6363
Calmar Ratio Rank
ZLB.TO Martin Ratio Rank: 6464
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.

XST.TO vs. ZLB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Capped Consumer Staples Index ETF (XST.TO) and BMO Low Volatility Canadian Equity ETF (ZLB.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.

XST.TOZLB.TODifference
Sharpe ratioReturn per unit of total volatility
0.46
1.99

-1.54

Sortino ratioReturn per unit of downside risk
0.75
2.97

-2.22

Omega ratioGain probability vs. loss probability

1.09

1.36

-0.27

Calmar ratioReturn relative to maximum drawdown

0.70

3.08

-2.38

Martin ratioReturn relative to average drawdown

1.65

11.43

-9.78

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

XST.TO vs. ZLB.TO - Sharpe Ratio Comparison

The current XST.TO Sharpe Ratio is 0.46, which is lower than the ZLB.TO Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of XST.TO and ZLB.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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Sharpe Ratios by Period

XST.TOZLB.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.46

1.99

-1.54

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.90

1.26

-0.36

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.65

0.89

-0.25

Sharpe Ratio (All Time)

Calculated using the full available price history

0.99

1.15

-0.16

Drawdowns

XST.TO vs. ZLB.TO - Drawdown Comparison

The maximum XST.TO drawdown since its inception was -22.65%, smaller than the maximum ZLB.TO drawdown of -33.96%. Use the drawdown chart below to compare losses from any high point for XST.TO and ZLB.TO.

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Drawdown Indicators

XST.TOZLB.TODifference

Max Drawdown

Largest peak-to-trough decline

-22.65%

-33.96%

+11.31%

Max Drawdown (1Y)

Largest decline over 1 year

-10.52%

-5.36%

-5.16%

Max Drawdown (3Y)

Largest decline over 3 years

-10.86%

-8.01%

-2.85%

Max Drawdown (5Y)

Largest decline over 5 years

-10.86%

-13.00%

+2.14%

Max Drawdown (10Y)

Largest decline over 10 years

-22.65%

-33.96%

+11.31%

Current Drawdown

Current decline from peak

-6.39%

-0.84%

-5.55%

Average Drawdown

Average peak-to-trough decline

-3.21%

-2.46%

-0.75%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.44%

1.44%

+3.00%

Volatility

XST.TO vs. ZLB.TO - Volatility Comparison

iShares S&P/TSX Capped Consumer Staples Index ETF (XST.TO) has a higher volatility of 4.72% compared to BMO Low Volatility Canadian Equity ETF (ZLB.TO) at 2.57%. This indicates that XST.TO's price experiences larger fluctuations and is considered to be riskier than ZLB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XST.TOZLB.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.72%

2.57%

+2.15%

Volatility (6M)

Calculated over the trailing 6-month period

11.99%

6.39%

+5.60%

Volatility (1Y)

Calculated over the trailing 1-year period

16.12%

8.31%

+7.81%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.22%

9.44%

+4.78%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.95%

12.15%

+2.80%

XST.TO vs. ZLB.TO - Expense Ratio Comparison

XST.TO has a 0.61% expense ratio, which is higher than ZLB.TO's 0.39% expense ratio.

Dividends

XST.TO vs. ZLB.TO - Dividend Comparison

XST.TO's dividend yield for the trailing twelve months is around 0.68%, less than ZLB.TO's 1.87% yield.

PositionTTM20252024202320222021202020192018201720162015
XST.TO
iShares S&P/TSX Capped Consumer Staples Index ETF		0.68%0.67%0.86%0.79%0.74%0.68%0.74%0.73%0.81%0.90%0.52%0.62%
ZLB.TO
BMO Low Volatility Canadian Equity ETF		1.87%1.93%2.37%2.67%2.66%2.39%2.83%2.44%2.76%2.52%2.94%2.34%

Frequently Asked Questions

XST.TO and ZLB.TO have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZLB.TO is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZLB.TO is cheaper with a 0.39% expense ratio, compared with 0.61% for XST.TO.

XST.TO is categorized as Consumer Staples Equities, while ZLB.TO is Canada Equities. They also come from different issuers: iShares and BMO. Their fees differ too: 0.61% for XST.TO and 0.39% for ZLB.TO.

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