XUSC.TO vs. ZLH.TO
XUSC.TO (iShares S&P 500 3% Capped Index ETF (CAD Units)) and ZLH.TO (BMO Low Volatility US Equity Hedged to CAD ETF) are both Large Cap Blend Equities funds. Over the past year, XUSC.TO returned 25.20% vs 10.45% for ZLH.TO. At a 0.29 correlation, their price movements are largely independent. XUSC.TO charges 0.12%/yr vs 0.30%/yr for ZLH.TO.
Performance
XUSC.TO vs. ZLH.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XUSC.TO achieves a 14.74% return, which is significantly higher than ZLH.TO's 10.70% return.
XUSC.TO
- 1D
- -0.80%
- 1M
- 2.35%
- 6M
- 10.89%
- YTD
- 14.74%
- 1Y
- 25.20%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZLH.TO
- 1D
- 0.45%
- 1M
- 1.77%
- 6M
- 9.80%
- YTD
- 10.70%
- 1Y
- 10.45%
- 3Y*
- 9.07%
- 5Y*
- 7.04%
- 10Y*
- 7.49%
XUSC.TO vs. ZLH.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
XUSC.TO iShares S&P 500 3% Capped Index ETF (CAD Units) | 14.74% | 11.40% | 10.66% |
ZLH.TO BMO Low Volatility US Equity Hedged to CAD ETF | 10.70% | 5.90% | 1.73% |
Correlation
The correlation between XUSC.TO and ZLH.TO is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024 | 0.29 |
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Return for Risk
XUSC.TO vs. ZLH.TO — Risk / Return Rank
XUSC.TO
ZLH.TO
XUSC.TO vs. ZLH.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 3% Capped Index ETF (CAD Units) (XUSC.TO) and BMO Low Volatility US Equity Hedged to CAD ETF (ZLH.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.
| XUSC.TO | ZLH.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.11 | ||
| Sortino ratioReturn per unit of downside risk | +1.60 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.19 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.33 | 1.43 | +1.90 |
| Martin ratioReturn relative to average drawdown | 12.06 | 3.47 | +8.59 |
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Drawdowns
XUSC.TO vs. ZLH.TO - Drawdown Comparison
The maximum XUSC.TO drawdown since its inception was -18.31%, smaller than the maximum ZLH.TO drawdown of -33.34%. Use the drawdown chart below to compare losses from any high point for XUSC.TO and ZLH.TO.
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Drawdown Indicators
| XUSC.TO | ZLH.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.31% | -33.34% | +15.03% |
Max Drawdown (1Y)Largest decline over 1 year | -7.60% | -7.35% | -0.25% |
Max Drawdown (3Y)Largest decline over 3 years | — | -10.17% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.66% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.34% | — |
Current DrawdownCurrent decline from peak | -0.94% | -0.67% | -0.27% |
Average DrawdownAverage peak-to-trough decline | -2.59% | -3.90% | +1.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.09% | 3.02% | -0.93% |
Volatility
XUSC.TO vs. ZLH.TO - Volatility Comparison
The current volatility for iShares S&P 500 3% Capped Index ETF (CAD Units) (XUSC.TO) is 3.76%, while BMO Low Volatility US Equity Hedged to CAD ETF (ZLH.TO) has a volatility of 4.01%. This indicates that XUSC.TO experiences smaller price fluctuations and is considered to be less risky than ZLH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XUSC.TO | ZLH.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.76% | 4.01% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 9.40% | 7.61% | +1.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.10% | 10.69% | +1.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.68% | 12.25% | +3.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.68% | 13.83% | +1.85% |
XUSC.TO vs. ZLH.TO - Expense Ratio Comparison
XUSC.TO has a 0.12% expense ratio, which is lower than ZLH.TO's 0.30% expense ratio.
Dividends
XUSC.TO vs. ZLH.TO - Dividend Comparison
XUSC.TO's dividend yield for the trailing twelve months is around 0.93%, less than ZLH.TO's 1.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
XUSC.TO iShares S&P 500 3% Capped Index ETF (CAD Units) | 0.93% | 0.94% | 0.24% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZLH.TO BMO Low Volatility US Equity Hedged to CAD ETF | 1.71% | 1.92% | 2.25% | 2.45% | 2.12% | 1.84% | 1.95% | 1.55% | 2.00% | 1.93% | 2.02% |
Frequently Asked Questions
XUSC.TO and ZLH.TO have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUSC.TO is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUSC.TO is cheaper with a 0.12% expense ratio, compared with 0.30% for ZLH.TO.
They also come from different issuers: iShares and BMO. Their fees differ too: 0.12% for XUSC.TO and 0.30% for ZLH.TO.
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