XTR.TO vs. ZGRO.TO
XTR.TO (iShares Diversified Monthly Income ETF) and ZGRO.TO (BMO Growth ETF) are both exchange-traded funds - XTR.TO is a Diversified Portfolio fund tracking the Morningstar Can Neut Tgt Alloc NR CAD, while ZGRO.TO is a Global Allocation fund actively managed by BMO. XTR.TO is passively managed, while ZGRO.TO is actively managed. Over the past 5 years, XTR.TO returned 5.64%/yr vs 15.20%/yr for ZGRO.TO. A 0.65 correlation means they provide meaningful diversification when combined. XTR.TO charges 0.61%/yr vs 0.18%/yr for ZGRO.TO.
Performance
XTR.TO vs. ZGRO.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XTR.TO achieves a 8.29% return, which is significantly lower than ZGRO.TO's 11.48% return.
XTR.TO
- 1D
- 0.16%
- 1M
- 0.73%
- 6M
- 6.56%
- YTD
- 8.29%
- 1Y
- 10.62%
- 3Y*
- 10.44%
- 5Y*
- 5.64%
- 10Y*
- 5.58%
ZGRO.TO
- 1D
- 0.10%
- 1M
- -1.94%
- 6M
- 8.38%
- YTD
- 11.48%
- 1Y
- 23.24%
- 3Y*
- 21.31%
- 5Y*
- 15.20%
- 10Y*
- —
XTR.TO vs. ZGRO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XTR.TO iShares Diversified Monthly Income ETF | 8.29% | 5.18% | 12.75% | 5.00% | -4.48% | 10.17% | 2.45% | 7.79% |
ZGRO.TO BMO Growth ETF | 11.48% | 18.65% | 25.70% | 20.36% | -5.92% | 20.50% | 17.11% | 16.29% |
Correlation
The correlation between XTR.TO and ZGRO.TO is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2019 | 0.65 |
The correlation between XTR.TO and ZGRO.TO shifts across timeframes, from 0.52 (1 year) to 0.65 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XTR.TO vs. ZGRO.TO — Risk / Return Rank
XTR.TO
ZGRO.TO
XTR.TO vs. ZGRO.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Diversified Monthly Income ETF (XTR.TO) and BMO Growth ETF (ZGRO.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.
| XTR.TO | ZGRO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.35 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.78 | 3.40 | -0.62 |
| Martin ratioReturn relative to average drawdown | 9.13 | 12.98 | -3.84 |
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Drawdowns
XTR.TO vs. ZGRO.TO - Drawdown Comparison
The maximum XTR.TO drawdown since its inception was -51.43%, which is greater than ZGRO.TO's maximum drawdown of -24.67%. Use the drawdown chart below to compare losses from any high point for XTR.TO and ZGRO.TO.
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Drawdown Indicators
| XTR.TO | ZGRO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.43% | -24.67% | -26.76% |
Max Drawdown (1Y)Largest decline over 1 year | -3.84% | -6.87% | +3.03% |
Max Drawdown (3Y)Largest decline over 3 years | -6.06% | -11.60% | +5.54% |
Max Drawdown (5Y)Largest decline over 5 years | -9.78% | -16.21% | +6.43% |
Max Drawdown (10Y)Largest decline over 10 years | -25.92% | — | — |
Current DrawdownCurrent decline from peak | -0.24% | -1.94% | +1.70% |
Average DrawdownAverage peak-to-trough decline | -5.00% | -2.49% | -2.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 1.80% | -0.63% |
Volatility
XTR.TO vs. ZGRO.TO - Volatility Comparison
The current volatility for iShares Diversified Monthly Income ETF (XTR.TO) is 1.03%, while BMO Growth ETF (ZGRO.TO) has a volatility of 3.69%. This indicates that XTR.TO experiences smaller price fluctuations and is considered to be less risky than ZGRO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XTR.TO | ZGRO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 3.69% | -2.66% |
Volatility (6M)Calculated over the trailing 6-month period | 3.82% | 10.20% | -6.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.68% | 12.03% | -6.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.45% | 11.23% | -4.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.37% | 13.19% | -4.82% |
XTR.TO vs. ZGRO.TO - Expense Ratio Comparison
XTR.TO has a 0.61% expense ratio, which is higher than ZGRO.TO's 0.18% expense ratio.
Dividends
XTR.TO vs. ZGRO.TO - Dividend Comparison
XTR.TO's dividend yield for the trailing twelve months is around 3.92%, more than ZGRO.TO's 1.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XTR.TO iShares Diversified Monthly Income ETF | 3.92% | 4.22% | 4.27% | 4.61% | 4.62% | 4.21% | 5.56% | 5.38% | 5.75% | 5.24% | 5.30% | 6.81% |
ZGRO.TO BMO Growth ETF | 1.43% | 3.38% | 5.76% | 6.81% | 7.63% | 6.65% | 7.47% | 6.95% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XTR.TO and ZGRO.TO have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZGRO.TO is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZGRO.TO is cheaper with a 0.18% expense ratio, compared with 0.61% for XTR.TO.
XTR.TO is categorized as Diversified Portfolio, while ZGRO.TO is Global Allocation. They also come from different issuers: iShares and BMO. Their fees differ too: 0.61% for XTR.TO and 0.18% for ZGRO.TO.
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