XUSC.TO vs. ZLU.TO
XUSC.TO (iShares S&P 500 3% Capped Index ETF (CAD Units)) and ZLU.TO (BMO Low Volatility US Equity ETF (CAD)) are both Large Cap Blend Equities funds. XUSC.TO is passively managed, while ZLU.TO is actively managed. Over the past year, XUSC.TO returned 27.62% vs 12.64% for ZLU.TO. At a 0.38 correlation, their price movements are largely independent. XUSC.TO charges 0.12%/yr vs 0.33%/yr for ZLU.TO.
Performance
XUSC.TO vs. ZLU.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XUSC.TO achieves a 13.37% return, which is significantly higher than ZLU.TO's 11.73% return.
XUSC.TO
- 1D
- -0.85%
- 1M
- 3.02%
- YTD
- 13.37%
- 6M
- 12.60%
- 1Y
- 27.62%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZLU.TO
- 1D
- 1.53%
- 1M
- 0.70%
- YTD
- 11.73%
- 6M
- 6.89%
- 1Y
- 12.64%
- 3Y*
- 12.25%
- 5Y*
- 10.69%
- 10Y*
- 9.60%
XUSC.TO vs. ZLU.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
XUSC.TO iShares S&P 500 3% Capped Index ETF (CAD Units) | 13.37% | 11.40% | 10.66% |
ZLU.TO BMO Low Volatility US Equity ETF (CAD) | 11.73% | 2.03% | 7.57% |
Correlation
The correlation between XUSC.TO and ZLU.TO is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024 | 0.38 |
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Return for Risk
XUSC.TO vs. ZLU.TO — Risk / Return Rank
XUSC.TO
ZLU.TO
XUSC.TO vs. ZLU.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 ETF (CAD) (ZLU.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 | ZLU.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.13 | ||
| Sortino ratioReturn per unit of downside risk | +1.63 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.22 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 3.65 | 1.69 | +1.96 |
| Martin ratioReturn relative to average drawdown | 13.26 | 4.27 | +8.98 |
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Drawdowns
XUSC.TO vs. ZLU.TO - Drawdown Comparison
The maximum XUSC.TO drawdown since its inception was -18.31%, smaller than the maximum ZLU.TO drawdown of -25.49%. Use the drawdown chart below to compare losses from any high point for XUSC.TO and ZLU.TO.
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Drawdown Indicators
| XUSC.TO | ZLU.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.31% | -25.49% | +7.18% |
Max Drawdown (1Y)Largest decline over 1 year | -7.60% | -7.52% | -0.08% |
Max Drawdown (3Y)Largest decline over 3 years | — | -9.15% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -10.30% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.49% | — |
Current DrawdownCurrent decline from peak | -1.18% | -0.27% | -0.91% |
Average DrawdownAverage peak-to-trough decline | -2.65% | -3.09% | +0.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.09% | 2.96% | -0.87% |
Volatility
XUSC.TO vs. ZLU.TO - Volatility Comparison
iShares S&P 500 3% Capped Index ETF (CAD Units) (XUSC.TO) has a higher volatility of 4.06% compared to BMO Low Volatility US Equity ETF (CAD) (ZLU.TO) at 3.10%. This indicates that XUSC.TO's price experiences larger fluctuations and is considered to be riskier than ZLU.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 | ZLU.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.06% | 3.10% | +0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 9.17% | 8.64% | +0.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.91% | 10.59% | +1.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.75% | 11.37% | +4.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.75% | 13.92% | +1.83% |
XUSC.TO vs. ZLU.TO - Expense Ratio Comparison
XUSC.TO has a 0.12% expense ratio, which is lower than ZLU.TO's 0.33% expense ratio.
Dividends
XUSC.TO vs. ZLU.TO - Dividend Comparison
XUSC.TO's dividend yield for the trailing twelve months is around 0.83%, less than ZLU.TO's 1.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XUSC.TO iShares S&P 500 3% Capped Index ETF (CAD Units) | 0.83% | 0.94% | 0.24% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZLU.TO BMO Low Volatility US Equity ETF (CAD) | 1.73% | 1.95% | 1.97% | 2.39% | 1.95% | 1.76% | 1.83% | 1.57% | 1.89% | 2.00% | 2.36% | 1.80% |
Frequently Asked Questions
XUSC.TO and ZLU.TO have a correlation of 0.37, 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 0.33% for ZLU.TO.
They also come from different issuers: iShares and BMO. Their fees differ too: 0.12% for XUSC.TO and 0.33% for ZLU.TO.
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