PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
XUU.TO vs. ZAG.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XUU.TO vs. ZAG.TO

Last updated Jun 13, 2026

XUU.TO (iShares Core S&P U.S. Total Market Index ETF) and ZAG.TO (BMO Aggregate Bond Index ETF) are both exchange-traded funds - XUU.TO is a Large Cap Blend Equities fund tracking the S&P Total Market Index, while ZAG.TO is a Canadian Government Bonds fund tracking the FTSE Canada Universe Bond Index. Both are passively managed. Over the past 10 years, XUU.TO returned 15.61%/yr vs 1.63%/yr for ZAG.TO. At a 0.03 correlation, their price movements are largely independent. XUU.TO charges 0.07%/yr vs 0.09%/yr for ZAG.TO.

Performance

XUU.TO vs. ZAG.TO - Performance Comparison

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

Loading charts...

Returns By Period

In the year-to-date period, XUU.TO achieves a 11.45% return, which is significantly higher than ZAG.TO's 1.77% return. Over the past 10 years, XUU.TO has outperformed ZAG.TO with an annualized return of 15.61%, while ZAG.TO has yielded a comparatively lower 1.63% annualized return.

XUU.TO

1D
0.63%
1M
1.53%
YTD
11.45%
6M
11.22%
1Y
29.10%
3Y*
22.22%
5Y*
15.33%
10Y*
15.61%

ZAG.TO

1D
0.00%
1M
1.30%
YTD
1.77%
6M
2.14%
1Y
3.92%
3Y*
4.75%
5Y*
0.68%
10Y*
1.63%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XUU.TO vs. ZAG.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XUU.TO
iShares Core S&P U.S. Total Market Index ETF		11.45%11.25%34.07%23.11%-13.53%25.94%16.26%23.78%2.43%12.80%
ZAG.TO
BMO Aggregate Bond Index ETF		1.77%2.25%4.48%6.41%-11.60%-2.60%8.34%6.84%1.12%2.45%

Correlation

The correlation between XUU.TO and ZAG.TO is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.28

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

0.18

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

0.14

Correlation (10Y)
Calculated over the trailing 10-year period

0.04

Correlation (All Time)
Calculated using the full available price history since Feb 18, 2015

0.03

Over the past year, XUU.TO and ZAG.TO have become more correlated (0.28) than their long-term average of 0.03, meaning their price movements have been converging.

XUU.TO vs. ZAG.TO - Sectors Allocation Comparison

Sectors
XUU.TO
ZAG.TO

Technology

37.3%

-

Financial Services

11.2%

-

Consumer Cyclical

9.8%

-

Communication Services

9.8%

-

Industrials

8.8%

-

Healthcare

8.4%

-

Consumer Defensive

4.4%

-

Energy

3.4%

-

Utilities

2.5%

-

Real Estate

2.2%
0.0%

Basic Materials

1.9%

-

Technology

XUU.TO
37.3%
ZAG.TO

-

Financial Services

XUU.TO
11.2%
ZAG.TO

-

Consumer Cyclical

XUU.TO
9.8%
ZAG.TO

-

Communication Services

XUU.TO
9.8%
ZAG.TO

-

Industrials

XUU.TO
8.8%
ZAG.TO

-

Healthcare

XUU.TO
8.4%
ZAG.TO

-

Consumer Defensive

XUU.TO
4.4%
ZAG.TO

-

Energy

XUU.TO
3.4%
ZAG.TO

-

Utilities

XUU.TO
2.5%
ZAG.TO

-

Real Estate

XUU.TO
2.2%
ZAG.TO
0.0%

Basic Materials

XUU.TO
1.9%
ZAG.TO

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

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

BMO Aggregate Bond Index ETF

Often compared with XUU.TO:
XUU.TO vs. XUS.TOXUU.TO vs. VUN.TOXUU.TO vs. XAW.TOXUU.TO vs. XUU-U.TOXUU.TO vs. XIC.TOXUU.TO vs. VTIXUU.TO vs. VOO
Often compared with ZAG.TO:
ZAG.TO vs. VAB.TOZAG.TO vs. XBB.TOZAG.TO vs. XSB.TOZAG.TO vs. ZMMK.TOZAG.TO vs. ZST.TOZAG.TO vs. XBBZAG.TO vs. XCB.TO

Return for Risk

XUU.TO vs. ZAG.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XUU.TO
XUU.TO Risk / Return Rank: 7676
Overall Rank
XUU.TO Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
XUU.TO Sortino Ratio Rank: 7878
Sortino Ratio Rank
XUU.TO Omega Ratio Rank: 8080
Omega Ratio Rank
XUU.TO Calmar Ratio Rank: 7171
Calmar Ratio Rank
XUU.TO Martin Ratio Rank: 7373
Martin Ratio Rank
ZAG.TO
ZAG.TO Risk / Return Rank: 2626
Overall Rank
ZAG.TO Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
ZAG.TO Sortino Ratio Rank: 2424
Sortino Ratio Rank
ZAG.TO Omega Ratio Rank: 2525
Omega Ratio Rank
ZAG.TO Calmar Ratio Rank: 3131
Calmar Ratio Rank
ZAG.TO Martin Ratio Rank: 2626
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.

XUU.TO vs. ZAG.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.TO) and BMO Aggregate Bond Index ETF (ZAG.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.

XUU.TOZAG.TODifference
Sharpe ratioReturn per unit of total volatility
2.22
0.83

+1.39

Sortino ratioReturn per unit of downside risk
3.00
1.17

+1.83

Omega ratioGain probability vs. loss probability

1.41

1.15

+0.26

Calmar ratioReturn relative to maximum drawdown

3.13

1.33

+1.80

Martin ratioReturn relative to average drawdown

11.81

3.11

+8.70

XUU.TO vs. ZAG.TO - Sharpe Ratio Comparison

The current XUU.TO Sharpe Ratio is 2.22, which is higher than the ZAG.TO Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of XUU.TO and ZAG.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.

Loading charts...

Drawdowns

XUU.TO vs. ZAG.TO - Drawdown Comparison

The maximum XUU.TO drawdown since its inception was -28.22%, which is greater than ZAG.TO's maximum drawdown of -18.03%. Use the drawdown chart below to compare losses from any high point for XUU.TO and ZAG.TO.

Loading charts...

Drawdown Indicators

XUU.TOZAG.TODifference

Max Drawdown

Largest peak-to-trough decline

-28.22%

-18.03%

-10.19%

Max Drawdown (1Y)

Largest decline over 1 year

-8.80%

-2.79%

-6.01%

Max Drawdown (3Y)

Largest decline over 3 years

-19.70%

-5.42%

-14.28%

Max Drawdown (5Y)

Largest decline over 5 years

-23.40%

-15.77%

-7.63%

Max Drawdown (10Y)

Largest decline over 10 years

-28.22%

-18.03%

-10.19%

Current Drawdown

Current decline from peak

-1.41%

-1.02%

-0.39%

Average Drawdown

Average peak-to-trough decline

-4.15%

-3.54%

-0.61%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.33%

1.19%

+1.14%

Volatility

XUU.TO vs. ZAG.TO - Volatility Comparison

iShares Core S&P U.S. Total Market Index ETF (XUU.TO) has a higher volatility of 4.57% compared to BMO Aggregate Bond Index ETF (ZAG.TO) at 1.47%. This indicates that XUU.TO's price experiences larger fluctuations and is considered to be riskier than ZAG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

XUU.TOZAG.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.57%

1.47%

+3.10%

Volatility (6M)

Calculated over the trailing 6-month period

9.69%

3.35%

+6.34%

Volatility (1Y)

Calculated over the trailing 1-year period

12.42%

4.46%

+7.96%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.50%

6.58%

+8.92%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.61%

7.11%

+9.50%

XUU.TO vs. ZAG.TO - Expense Ratio Comparison

XUU.TO has a 0.07% expense ratio, which is lower than ZAG.TO's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XUU.TO vs. ZAG.TO - Dividend Comparison

XUU.TO's dividend yield for the trailing twelve months is around 1.02%, less than ZAG.TO's 3.41% yield.

PositionTTM20252024202320222021202020192018201720162015
XUU.TO
iShares Core S&P U.S. Total Market Index ETF		1.02%1.16%1.02%1.22%1.38%1.01%1.33%1.68%1.74%1.49%1.65%1.53%
ZAG.TO
BMO Aggregate Bond Index ETF		3.41%3.48%3.44%3.47%3.56%3.04%2.88%3.03%2.92%2.95%3.07%3.13%

Frequently Asked Questions

XUU.TO and ZAG.TO have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XUU.TO is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XUU.TO is cheaper with a 0.07% expense ratio, compared with 0.09% for ZAG.TO.

XUU.TO is categorized as Large Cap Blend Equities, while ZAG.TO is Canadian Government Bonds. XUU.TO tracks S&P Total Market Index, while ZAG.TO tracks FTSE Canada Universe Bond Index. They also come from different issuers: iShares and BMO. Their fees differ too: 0.07% for XUU.TO and 0.09% for ZAG.TO.

Portfolio Optimizer

Find the right allocation for XUU.TO and ZAG.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer