XUU-U.TO vs. ZLB.TO

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Core S&P U.S. Total Market Index ETF (XUU-U.TO) and BMO Low Volatility Canadian Equity ETF (ZLB.TO).

XUU-U.TO and ZLB.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XUU-U.TO is a passively managed fund by iShares that tracks the performance of the S&P Total Market Index. It was launched on Oct 22, 2019. ZLB.TO is an actively managed fund by BMO. It was launched on Oct 21, 2011.

Performance

XUU-U.TO vs. ZLB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core S&P U.S. Total Market Index ETF (XUU-U.TO) and BMO Low Volatility Canadian Equity ETF (ZLB.TO). The values are adjusted to include any dividend payments, if applicable.

XUU-U.TO vs. ZLB.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
XUU-U.TO iShares Core S&P U.S. Total Market Index ETF	-4.82%	16.34%	22.50%	26.52%	-20.40%	28.14%	18.72%	7.44%
ZLB.TO BMO Low Volatility Canadian Equity ETF	0.76%	26.07%	6.10%	11.78%	-7.12%	23.72%	3.42%	3.07%

Different Trading Currencies

XUU-U.TO is traded in USD, while ZLB.TO is traded in CAD. To make them comparable, the ZLB.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XUU-U.TO achieves a -4.82% return, which is significantly lower than ZLB.TO's 0.76% return.

XUU-U.TO

• 1D: 2.18%
• 1M: -5.62%
• YTD: -4.82%
• 6M: -2.76%
• 1Y: 16.37%
• 3Y*: 18.26%
• 5Y*: 10.40%
• 10Y*: —

ZLB.TO

• 1D: 0.62%
• 1M: -4.03%
• YTD: 0.76%
• 6M: 3.40%
• 1Y: 19.07%
• 3Y*: 12.04%
• 5Y*: 9.44%
• 10Y*: 9.46%

*Multi-year figures are annualized to reflect compound growth (CAGR)

XUU-U.TO vs. ZLB.TO - Expense Ratio Comparison

XUU-U.TO has a 0.08% expense ratio, which is lower than ZLB.TO's 0.39% expense ratio.

ZLB.TO

BMO Low Volatility Canadian Equity ETF

XUU-U.TO

iShares Core S&P U.S. Total Market Index ETF

Return for Risk

XUU-U.TO vs. ZLB.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XUU-U.TO

XUU-U.TO Risk / Return Rank: 55
XUU-U.TO Sharpe Ratio Rank: 48
XUU-U.TO Sortino Ratio Rank: 51
XUU-U.TO Omega Ratio Rank: 64
XUU-U.TO Calmar Ratio Rank: 49
XUU-U.TO Martin Ratio Rank: 64

ZLB.TO

ZLB.TO Risk / Return Rank: 78
ZLB.TO Sharpe Ratio Rank: 78
ZLB.TO Sortino Ratio Rank: 77
ZLB.TO Omega Ratio Rank: 77
ZLB.TO Calmar Ratio Rank: 83
ZLB.TO Martin Ratio Rank: 75

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.

XUU-U.TO vs. ZLB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P U.S. Total Market Index ETF (XUU-U.TO) and BMO Low Volatility Canadian Equity ETF (ZLB.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.

	XUU-U.TO	ZLB.TO	Difference
Sharpe ratio Return per unit of total volatility	0.91	1.56	-0.65
Sortino ratio Return per unit of downside risk	1.42	2.13	-0.71
Omega ratio Gain probability vs. loss probability	1.24	1.31	-0.07
Calmar ratio Return relative to maximum drawdown	1.32	2.77	-1.45
Martin ratio Return relative to average drawdown	6.66	9.59	-2.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XUU-U.TO vs. ZLB.TO - Sharpe Ratio Comparison

The current XUU-U.TO Sharpe Ratio is 0.91, which is lower than the ZLB.TO Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of XUU-U.TO and ZLB.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XUU-U.TO	ZLB.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.91	1.56	-0.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.72	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.61	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	0.69	+0.06

Correlation

The correlation between XUU-U.TO and ZLB.TO is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

XUU-U.TO vs. ZLB.TO - Dividend Comparison

XUU-U.TO's dividend yield for the trailing twelve months is around 0.87%, less than ZLB.TO's 1.91% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XUU-U.TO iShares Core S&P U.S. Total Market Index ETF	0.87%	0.83%	0.76%	0.85%	1.01%	0.77%	0.90%	0.38%	0.00%	0.00%	0.00%	0.00%
ZLB.TO BMO Low Volatility Canadian Equity ETF	1.91%	1.93%	2.28%	2.56%	2.56%	2.29%	2.72%	2.34%	2.65%	2.42%	2.82%	2.25%

Drawdowns

XUU-U.TO vs. ZLB.TO - Drawdown Comparison

The maximum XUU-U.TO drawdown since its inception was -28.73%, smaller than the maximum ZLB.TO drawdown of -39.76%. Use the drawdown chart below to compare losses from any high point for XUU-U.TO and ZLB.TO.

Drawdown Indicators

	XUU-U.TO	ZLB.TO	Difference
Max Drawdown Largest peak-to-trough decline	-28.73%	-33.96%	+5.23%
Max Drawdown (1Y) Largest decline over 1 year	-12.71%	-6.53%	-6.18%
Max Drawdown (5Y) Largest decline over 5 years	-24.53%	-13.04%	-11.49%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.96%	—
Current Drawdown Current decline from peak	-6.82%	-2.58%	-4.24%
Average Drawdown Average peak-to-trough decline	-5.92%	-2.51%	-3.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	1.94%	+0.58%

Volatility

XUU-U.TO vs. ZLB.TO - Volatility Comparison

iShares Core S&P U.S. Total Market Index ETF (XUU-U.TO) has a higher volatility of 5.37% compared to BMO Low Volatility Canadian Equity ETF (ZLB.TO) at 3.86%. This indicates that XUU-U.TO's price experiences larger fluctuations and is considered to be riskier than ZLB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XUU-U.TO	ZLB.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.37%	3.86%	+1.51%
Volatility (6M) Calculated over the trailing 6-month period	9.74%	8.30%	+1.44%
Volatility (1Y) Calculated over the trailing 1-year period	18.50%	12.30%	+6.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.76%	13.15%	+3.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.78%	15.48%	+2.30%