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XUU.TO vs. ZGQ.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XUU.TO vs. ZGQ.TO

Last updated Jun 4, 2026

XUU.TO (iShares Core S&P U.S. Total Market Index ETF) and ZGQ.TO (BMO MSCI All Country World High Quality Index ETF) are both exchange-traded funds - XUU.TO is a Large Cap Blend Equities fund tracking the Morningstar US Market TR CAD, while ZGQ.TO is a Global Equities fund tracking the MSCI All Country World High Quality Index. Both are passively managed. Over the past 10 years, XUU.TO returned 15.46%/yr vs 15.07%/yr for ZGQ.TO. A 0.78 correlation means they provide meaningful diversification when combined. XUU.TO charges 0.07%/yr vs 0.50%/yr for ZGQ.TO.

Performance

XUU.TO vs. ZGQ.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 MSCI All Country World High Quality Index ETF (ZGQ.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, XUU.TO achieves a 12.48% return, which is significantly lower than ZGQ.TO's 13.23% return. Both investments have delivered pretty close results over the past 10 years, with XUU.TO having a 15.46% annualized return and ZGQ.TO not far behind at 15.07%.

XUU.TO

1D
-0.29%
1M
7.40%
YTD
12.48%
6M
10.56%
1Y
29.05%
3Y*
23.13%
5Y*
15.81%
10Y*
15.46%

ZGQ.TO

1D
-0.05%
1M
6.84%
YTD
13.23%
6M
8.19%
1Y
25.52%
3Y*
20.50%
5Y*
13.96%
10Y*
15.07%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
XUU.TO
iShares Core S&P U.S. Total Market Index ETF		12.48%11.25%34.07%23.11%-13.53%25.93%16.25%23.77%2.42%12.79%
ZGQ.TO
BMO MSCI All Country World High Quality Index ETF		13.23%8.04%29.47%29.38%-18.76%21.44%22.41%28.91%-0.12%19.54%

Correlation

The correlation between XUU.TO and ZGQ.TO is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.88

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

0.89

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

0.89

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

0.80

Correlation (All Time)
Calculated using the full available price history since Feb 23, 2015

0.78

The correlation between XUU.TO and ZGQ.TO shifts across timeframes, from 0.78 (all time) to 0.89 (3 years), reflecting how their relationship changes across market environments.

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

Sectors
XUU.TO
ZGQ.TO

Technology

37.3%
38.4%

Financial Services

11.2%
7.5%

Consumer Cyclical

9.8%
4.0%

Communication Services

9.8%
13.3%

Industrials

8.8%
11.2%

Healthcare

8.4%
13.4%

Consumer Defensive

4.4%
9.3%

Energy

3.4%
0.4%

Utilities

2.5%
0.2%

Real Estate

2.2%
0.3%

Basic Materials

1.9%
2.2%

Technology

XUU.TO
37.3%
ZGQ.TO
38.4%

Financial Services

XUU.TO
11.2%
ZGQ.TO
7.5%

Consumer Cyclical

XUU.TO
9.8%
ZGQ.TO
4.0%

Communication Services

XUU.TO
9.8%
ZGQ.TO
13.3%

Industrials

XUU.TO
8.8%
ZGQ.TO
11.2%

Healthcare

XUU.TO
8.4%
ZGQ.TO
13.4%

Consumer Defensive

XUU.TO
4.4%
ZGQ.TO
9.3%

Energy

XUU.TO
3.4%
ZGQ.TO
0.4%

Utilities

XUU.TO
2.5%
ZGQ.TO
0.2%

Real Estate

XUU.TO
2.2%
ZGQ.TO
0.3%

Basic Materials

XUU.TO
1.9%
ZGQ.TO
2.2%

Compare stocks, funds, or ETFs

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

BMO MSCI All Country World High Quality 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 ZGQ.TO:
ZGQ.TO vs. XEQT.TOZGQ.TO vs. XWD.TOZGQ.TO vs. ZUQ.TOZGQ.TO vs. VFV.TOZGQ.TO vs. XAW.TOZGQ.TO vs. ZNQ.TOZGQ.TO vs. VOO

Return for Risk

XUU.TO vs. ZGQ.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: 7070
Overall Rank
XUU.TO Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
XUU.TO Sortino Ratio Rank: 7171
Sortino Ratio Rank
XUU.TO Omega Ratio Rank: 7373
Omega Ratio Rank
XUU.TO Calmar Ratio Rank: 6666
Calmar Ratio Rank
XUU.TO Martin Ratio Rank: 6767
Martin Ratio Rank
ZGQ.TO
ZGQ.TO Risk / Return Rank: 5555
Overall Rank
ZGQ.TO Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
ZGQ.TO Sortino Ratio Rank: 5252
Sortino Ratio Rank
ZGQ.TO Omega Ratio Rank: 5555
Omega Ratio Rank
ZGQ.TO Calmar Ratio Rank: 5555
Calmar Ratio Rank
ZGQ.TO Martin Ratio Rank: 6262
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. ZGQ.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 MSCI All Country World High Quality Index ETF (ZGQ.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.TOZGQ.TODifference
Sharpe ratioReturn per unit of total volatility
2.42
1.83

+0.60

Sortino ratioReturn per unit of downside risk
3.32
2.57

+0.75

Omega ratioGain probability vs. loss probability

1.45

1.34

+0.11

Calmar ratioReturn relative to maximum drawdown

3.32

2.78

+0.54

Martin ratioReturn relative to average drawdown

12.64

11.30

+1.34

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.TO vs. ZGQ.TO - Sharpe Ratio Comparison

The current XUU.TO Sharpe Ratio is 2.42, which is higher than the ZGQ.TO Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of XUU.TO and ZGQ.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

XUU.TOZGQ.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.42

1.83

+0.60

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.03

0.89

+0.14

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.94

0.94

0.00

Sharpe Ratio (All Time)

Calculated using the full available price history

0.86

0.93

-0.07

Drawdowns

XUU.TO vs. ZGQ.TO - Drawdown Comparison

The maximum XUU.TO drawdown since its inception was -28.22%, which is greater than ZGQ.TO's maximum drawdown of -26.68%. Use the drawdown chart below to compare losses from any high point for XUU.TO and ZGQ.TO.

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Drawdown Indicators

XUU.TOZGQ.TODifference

Max Drawdown

Largest peak-to-trough decline

-28.22%

-26.68%

-1.54%

Max Drawdown (1Y)

Largest decline over 1 year

-8.80%

-9.22%

+0.42%

Max Drawdown (3Y)

Largest decline over 3 years

-19.70%

-18.36%

-1.34%

Max Drawdown (5Y)

Largest decline over 5 years

-23.41%

-26.68%

+3.27%

Max Drawdown (10Y)

Largest decline over 10 years

-28.22%

-26.68%

-1.54%

Current Drawdown

Current decline from peak

-0.29%

-1.17%

+0.88%

Average Drawdown

Average peak-to-trough decline

-4.09%

-4.49%

+0.40%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.30%

2.27%

+0.03%

Volatility

XUU.TO vs. ZGQ.TO - Volatility Comparison

The current volatility for iShares Core S&P U.S. Total Market Index ETF (XUU.TO) is 3.29%, while BMO MSCI All Country World High Quality Index ETF (ZGQ.TO) has a volatility of 4.57%. This indicates that XUU.TO experiences smaller price fluctuations and is considered to be less risky than ZGQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XUU.TOZGQ.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.29%

4.57%

-1.28%

Volatility (6M)

Calculated over the trailing 6-month period

9.08%

11.49%

-2.41%

Volatility (1Y)

Calculated over the trailing 1-year period

12.06%

14.04%

-1.98%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.45%

15.83%

-0.38%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.59%

16.15%

+0.44%

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

XUU.TO has a 0.07% expense ratio, which is lower than ZGQ.TO's 0.50% expense ratio.

Dividends

XUU.TO vs. ZGQ.TO - Dividend Comparison

XUU.TO's dividend yield for the trailing twelve months is around 1.01%, more than ZGQ.TO's 0.49% yield.

PositionTTM20252024202320222021202020192018201720162015
XUU.TO
iShares Core S&P U.S. Total Market Index ETF		1.01%1.16%1.02%1.22%1.38%1.01%1.33%1.68%1.73%1.49%1.65%1.52%
ZGQ.TO
BMO MSCI All Country World High Quality Index ETF		0.49%0.60%0.90%1.33%1.34%0.86%0.99%1.10%1.51%1.09%1.35%1.03%

Frequently Asked Questions

XUU.TO and ZGQ.TO have a correlation of 0.88, 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 0.50% for ZGQ.TO.

XUU.TO is categorized as Large Cap Blend Equities, while ZGQ.TO is Global Equities. XUU.TO tracks Morningstar US Market TR CAD, while ZGQ.TO tracks MSCI All Country World High Quality Index. They also come from different issuers: iShares and BMO. Their fees differ too: 0.07% for XUU.TO and 0.50% for ZGQ.TO.

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