XTLH.TO vs. ZTL.NEO
Compare and contrast key facts about iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) (XTLH.TO) and BMO Long-Term US Treasury Bond Index ETF (ZTL.NEO).
XTLH.TO and ZTL.NEO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XTLH.TO is a passively managed fund by iShares that tracks the performance of the ICE U.S. Treasury 20+ Year Bond Index (CAD-Hedged). It was launched on Feb 7, 2023. ZTL.NEO is a passively managed fund by BMO that tracks the performance of the Bloomberg U.S. Treasury 20+ Year Index. It was launched on Feb 28, 2017. Both XTLH.TO and ZTL.NEO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
XTLH.TO vs. ZTL.NEO - Performance Comparison
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XTLH.TO vs. ZTL.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XTLH.TO iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) | -0.26% | 2.61% | -9.55% | 1.56% |
ZTL.NEO BMO Long-Term US Treasury Bond Index ETF | 1.49% | -0.43% | -0.21% | -0.06% |
Returns By Period
In the year-to-date period, XTLH.TO achieves a -0.26% return, which is significantly lower than ZTL.NEO's 1.49% return.
XTLH.TO
- 1D
- 0.00%
- 1M
- -4.38%
- YTD
- -0.26%
- 6M
- -1.65%
- 1Y
- -2.02%
- 3Y*
- -3.84%
- 5Y*
- —
- 10Y*
- —
ZTL.NEO
- 1D
- -0.11%
- 1M
- -2.12%
- YTD
- 1.49%
- 6M
- -0.84%
- 1Y
- -3.56%
- 3Y*
- -1.80%
- 5Y*
- -3.96%
- 10Y*
- —
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XTLH.TO vs. ZTL.NEO - Expense Ratio Comparison
XTLH.TO has a 0.18% expense ratio, which is lower than ZTL.NEO's 0.23% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
XTLH.TO vs. ZTL.NEO — Risk / Return Rank
XTLH.TO
ZTL.NEO
XTLH.TO vs. ZTL.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) (XTLH.TO) and BMO Long-Term US Treasury Bond Index ETF (ZTL.NEO). 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.
| XTLH.TO | ZTL.NEO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.18 | -0.30 | +0.12 |
Sortino ratioReturn per unit of downside risk | -0.17 | -0.33 | +0.16 |
Omega ratioGain probability vs. loss probability | 0.98 | 0.96 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | -0.13 | -0.18 | +0.05 |
Martin ratioReturn relative to average drawdown | -0.26 | -0.32 | +0.06 |
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
| XTLH.TO | ZTL.NEO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.18 | -0.30 | +0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.24 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.14 | -0.02 | -0.12 |
Correlation
The correlation between XTLH.TO and ZTL.NEO is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
XTLH.TO vs. ZTL.NEO - Dividend Comparison
XTLH.TO's dividend yield for the trailing twelve months is around 4.52%, more than ZTL.NEO's 3.15% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XTLH.TO iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) | 4.52% | 4.42% | 4.32% | 2.67% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZTL.NEO BMO Long-Term US Treasury Bond Index ETF | 3.15% | 3.15% | 3.07% | 3.55% | 3.44% | 2.46% | 2.26% | 2.55% | 2.75% | 2.82% |
Drawdowns
XTLH.TO vs. ZTL.NEO - Drawdown Comparison
The maximum XTLH.TO drawdown since its inception was -22.72%, smaller than the maximum ZTL.NEO drawdown of -49.55%. Use the drawdown chart below to compare losses from any high point for XTLH.TO and ZTL.NEO.
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Drawdown Indicators
| XTLH.TO | ZTL.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.72% | -49.55% | +26.83% |
Max Drawdown (1Y)Largest decline over 1 year | -9.30% | -11.95% | +2.65% |
Max Drawdown (5Y)Largest decline over 5 years | — | -39.89% | — |
Current DrawdownCurrent decline from peak | -14.14% | -40.71% | +26.57% |
Average DrawdownAverage peak-to-trough decline | -12.00% | -23.40% | +11.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.66% | 6.74% | -2.08% |
Volatility
XTLH.TO vs. ZTL.NEO - Volatility Comparison
iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) (XTLH.TO) has a higher volatility of 3.65% compared to BMO Long-Term US Treasury Bond Index ETF (ZTL.NEO) at 3.22%. This indicates that XTLH.TO's price experiences larger fluctuations and is considered to be riskier than ZTL.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XTLH.TO | ZTL.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.65% | 3.22% | +0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 6.35% | 6.82% | -0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.23% | 12.07% | -0.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.42% | 16.37% | -1.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.42% | 15.94% | -1.52% |