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XUSR.TO vs. ZGRO.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XUSR.TO vs. ZGRO.TO

Last updated Jun 4, 2026

XUSR.TO (iShares ESG Advanced MSCI USA Index ETF) and ZGRO.TO (BMO Growth ETF) are both Large Cap Growth Equities funds. XUSR.TO is passively managed, while ZGRO.TO is actively managed. Over the past 5 years, XUSR.TO returned 16.66%/yr vs 11.51%/yr for ZGRO.TO. A 0.78 correlation means they provide meaningful diversification when combined. XUSR.TO charges 0.23%/yr vs 0.18%/yr for ZGRO.TO.

Performance

XUSR.TO vs. ZGRO.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares ESG Advanced MSCI USA Index ETF (XUSR.TO) and BMO Growth ETF (ZGRO.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, XUSR.TO achieves a 21.07% return, which is significantly higher than ZGRO.TO's 10.53% return.

XUSR.TO

1D
-0.71%
1M
11.78%
YTD
21.07%
6M
17.73%
1Y
32.90%
3Y*
26.02%
5Y*
16.66%
10Y*
—

ZGRO.TO

1D
-0.41%
1M
5.37%
YTD
10.53%
6M
10.31%
1Y
25.76%
3Y*
18.49%
5Y*
11.51%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XUSR.TO vs. ZGRO.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
XUSR.TO
iShares ESG Advanced MSCI USA Index ETF		21.07%9.24%32.45%29.28%-17.20%24.47%27.06%
ZGRO.TO
BMO Growth ETF		10.53%16.39%20.71%14.64%-10.58%14.99%20.19%

Correlation

The correlation between XUSR.TO and ZGRO.TO is 0.70, 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

0.70

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

0.77

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

0.81

Correlation (All Time)
Calculated using the full available price history since Apr 24, 2020

0.78

The correlation between XUSR.TO and ZGRO.TO shifts across timeframes, from 0.70 (1 year) to 0.81 (5 years), reflecting how their relationship changes across market environments.

XUSR.TO vs. ZGRO.TO - Sectors Allocation Comparison

Sectors
XUSR.TO
ZGRO.TO

Technology

56.7%
22.2%

Financial Services

14.3%
19.8%

Industrials

7.7%
11.2%

Consumer Cyclical

6.3%
8.3%

Healthcare

4.6%
6.9%

Real Estate

3.7%
2.0%

Communication Services

2.2%
6.7%

Basic Materials

2.2%
7.2%

Utilities

1.2%
3.0%

Consumer Defensive

0.9%
4.9%

Energy

0.1%
8.0%

Technology

XUSR.TO
56.7%
ZGRO.TO
22.2%

Financial Services

XUSR.TO
14.3%
ZGRO.TO
19.8%

Industrials

XUSR.TO
7.7%
ZGRO.TO
11.2%

Consumer Cyclical

XUSR.TO
6.3%
ZGRO.TO
8.3%

Healthcare

XUSR.TO
4.6%
ZGRO.TO
6.9%

Real Estate

XUSR.TO
3.7%
ZGRO.TO
2.0%

Communication Services

XUSR.TO
2.2%
ZGRO.TO
6.7%

Basic Materials

XUSR.TO
2.2%
ZGRO.TO
7.2%

Utilities

XUSR.TO
1.2%
ZGRO.TO
3.0%

Consumer Defensive

XUSR.TO
0.9%
ZGRO.TO
4.9%

Energy

XUSR.TO
0.1%
ZGRO.TO
8.0%

Compare stocks, funds, or ETFs

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iShares ESG Advanced MSCI USA Index ETF

BMO Growth ETF

Often compared with XUSR.TO:
XUSR.TO vs. XSUS.TOXUSR.TO vs. XUS.TOXUSR.TO vs. XCSR.TOXUSR.TO vs. VFV.TOXUSR.TO vs. USXFXUSR.TO vs. EAORXUSR.TO vs. VDY.TO
Often compared with ZGRO.TO:
ZGRO.TO vs. VGRO.TOZGRO.TO vs. XGRO.TOZGRO.TO vs. TGRO.TOZGRO.TO vs. XEQT.TOZGRO.TO vs. VFV.TOZGRO.TO vs. ZBAL.TOZGRO.TO vs. XDIV.TO

Return for Risk

XUSR.TO vs. ZGRO.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XUSR.TO
XUSR.TO Risk / Return Rank: 5858
Overall Rank
XUSR.TO Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
XUSR.TO Sortino Ratio Rank: 5858
Sortino Ratio Rank
XUSR.TO Omega Ratio Rank: 6060
Omega Ratio Rank
XUSR.TO Calmar Ratio Rank: 5858
Calmar Ratio Rank
XUSR.TO Martin Ratio Rank: 5151
Martin Ratio Rank
ZGRO.TO
ZGRO.TO Risk / Return Rank: 7373
Overall Rank
ZGRO.TO Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
ZGRO.TO Sortino Ratio Rank: 7272
Sortino Ratio Rank
ZGRO.TO Omega Ratio Rank: 7272
Omega Ratio Rank
ZGRO.TO Calmar Ratio Rank: 7474
Calmar Ratio Rank
ZGRO.TO Martin Ratio Rank: 7878
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.

XUSR.TO vs. ZGRO.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Advanced MSCI USA Index ETF (XUSR.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.

XUSR.TOZGRO.TODifference
Sharpe ratioReturn per unit of total volatility
2.08
2.39

-0.31

Sortino ratioReturn per unit of downside risk
2.75
3.32

-0.57

Omega ratioGain probability vs. loss probability

1.37

1.44

-0.07

Calmar ratioReturn relative to maximum drawdown

2.87

3.76

-0.90

Martin ratioReturn relative to average drawdown

8.61

15.21

-6.60

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

XUSR.TO vs. ZGRO.TO - Sharpe Ratio Comparison

The current XUSR.TO Sharpe Ratio is 2.08, which is comparable to the ZGRO.TO Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of XUSR.TO and ZGRO.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

XUSR.TOZGRO.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.08

2.39

-0.31

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.93

1.08

-0.15

Sharpe Ratio (All Time)

Calculated using the full available price history

1.11

0.91

+0.20

Drawdowns

XUSR.TO vs. ZGRO.TO - Drawdown Comparison

The maximum XUSR.TO drawdown since its inception was -28.39%, which is greater than ZGRO.TO's maximum drawdown of -24.64%. Use the drawdown chart below to compare losses from any high point for XUSR.TO and ZGRO.TO.

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Drawdown Indicators

XUSR.TOZGRO.TODifference

Max Drawdown

Largest peak-to-trough decline

-28.39%

-24.64%

-3.75%

Max Drawdown (1Y)

Largest decline over 1 year

-11.52%

-6.87%

-4.65%

Max Drawdown (3Y)

Largest decline over 3 years

-23.02%

-12.45%

-10.57%

Max Drawdown (5Y)

Largest decline over 5 years

-28.39%

-17.19%

-11.20%

Current Drawdown

Current decline from peak

-0.71%

-0.41%

-0.30%

Average Drawdown

Average peak-to-trough decline

-6.29%

-3.38%

-2.91%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.83%

1.70%

+2.13%

Volatility

XUSR.TO vs. ZGRO.TO - Volatility Comparison

iShares ESG Advanced MSCI USA Index ETF (XUSR.TO) has a higher volatility of 4.94% compared to BMO Growth ETF (ZGRO.TO) at 4.11%. This indicates that XUSR.TO's price experiences larger fluctuations and is considered to be riskier 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

XUSR.TOZGRO.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.94%

4.11%

+0.83%

Volatility (6M)

Calculated over the trailing 6-month period

12.58%

9.00%

+3.58%

Volatility (1Y)

Calculated over the trailing 1-year period

16.06%

10.81%

+5.25%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.07%

10.76%

+7.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.59%

12.99%

+4.60%

XUSR.TO vs. ZGRO.TO - Expense Ratio Comparison

XUSR.TO has a 0.23% expense ratio, which is higher than ZGRO.TO's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XUSR.TO vs. ZGRO.TO - Dividend Comparison

XUSR.TO's dividend yield for the trailing twelve months is around 0.56%, less than ZGRO.TO's 1.48% yield.

PositionTTM2025202420232022202120202019
XUSR.TO
iShares ESG Advanced MSCI USA Index ETF		0.56%0.67%0.68%0.93%1.01%0.65%0.34%0.00%
ZGRO.TO
BMO Growth ETF		1.48%1.70%1.92%2.27%2.54%2.22%2.49%2.32%

Frequently Asked Questions

XUSR.TO and ZGRO.TO have a correlation of 0.70, 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 0.23% for XUSR.TO.

They also come from different issuers: iShares and BMO. Their fees differ too: 0.23% for XUSR.TO and 0.18% for ZGRO.TO.

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