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

XUU.TO vs. ZLU.TO

Last updated Jun 24, 2026

XUU.TO (iShares Core S&P U.S. Total Market Index ETF) and ZLU.TO (BMO Low Volatility US Equity ETF (CAD)) are both Large Cap Blend Equities funds. XUU.TO is passively managed, while ZLU.TO is actively managed. Over the past 10 years, XUU.TO returned 15.76%/yr vs 9.60%/yr for ZLU.TO. A 0.55 correlation means they provide meaningful diversification when combined. XUU.TO charges 0.07%/yr vs 0.33%/yr for ZLU.TO.

Performance

XUU.TO vs. ZLU.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 Low Volatility US Equity ETF (CAD) (ZLU.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 12.63% return, which is significantly higher than ZLU.TO's 11.73% return. Over the past 10 years, XUU.TO has outperformed ZLU.TO with an annualized return of 15.76%, while ZLU.TO has yielded a comparatively lower 9.60% annualized return.

XUU.TO

1D
-0.86%
1M
2.13%
YTD
12.63%
6M
11.87%
1Y
28.11%
3Y*
23.33%
5Y*
15.16%
10Y*
15.76%

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

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

2026 (YTD)202520242023202220212020201920182017
XUU.TO
iShares Core S&P U.S. Total Market Index ETF		12.63%11.25%34.07%23.11%-13.53%25.94%16.26%23.78%2.43%12.80%
ZLU.TO
BMO Low Volatility US Equity ETF (CAD)		11.73%2.03%21.63%-3.26%7.95%20.72%2.06%20.48%8.39%5.06%

Correlation

The correlation between XUU.TO and ZLU.TO is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.33

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

0.33

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

0.42

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

0.54

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

0.55

Over the past year, the correlation between XUU.TO and ZLU.TO has dropped to 0.33 - well below their long-term average of 0.55, suggesting their price drivers have been diverging.

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

Sectors
XUU.TO
ZLU.TO

Technology

37.0%
19.5%

Financial Services

11.4%
10.2%

Communication Services

10.0%
4.1%

Consumer Cyclical

10.0%
3.8%

Industrials

9.0%
7.7%

Healthcare

8.6%
17.7%

Consumer Defensive

4.4%
11.4%

Energy

3.3%
0.4%

Real Estate

2.3%
3.8%

Utilities

2.2%
19.9%

Basic Materials

1.9%
0.7%

Technology

XUU.TO
37.0%
ZLU.TO
19.5%

Financial Services

XUU.TO
11.4%
ZLU.TO
10.2%

Communication Services

XUU.TO
10.0%
ZLU.TO
4.1%

Consumer Cyclical

XUU.TO
10.0%
ZLU.TO
3.8%

Industrials

XUU.TO
9.0%
ZLU.TO
7.7%

Healthcare

XUU.TO
8.6%
ZLU.TO
17.7%

Consumer Defensive

XUU.TO
4.4%
ZLU.TO
11.4%

Energy

XUU.TO
3.3%
ZLU.TO
0.4%

Real Estate

XUU.TO
2.3%
ZLU.TO
3.8%

Utilities

XUU.TO
2.2%
ZLU.TO
19.9%

Basic Materials

XUU.TO
1.9%
ZLU.TO
0.7%

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 Low Volatility US Equity ETF (CAD)

Often compared with XUU.TO:
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Often compared with ZLU.TO:
ZLU.TO vs. ZSP.TOZLU.TO vs. XMU.TOZLU.TO vs. ZDY.TOZLU.TO vs. ZID.TOZLU.TO vs. XEQT.TOZLU.TO vs. XBAL.TOZLU.TO vs. SPLV

Return for Risk

XUU.TO vs. ZLU.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: 6767
Calmar Ratio Rank
XUU.TO Martin Ratio Rank: 6868
Martin Ratio Rank
ZLU.TO
ZLU.TO Risk / Return Rank: 3333
Overall Rank
ZLU.TO Sharpe Ratio Rank: 3535
Sharpe Ratio Rank
ZLU.TO Sortino Ratio Rank: 3232
Sortino Ratio Rank
ZLU.TO Omega Ratio Rank: 3434
Omega Ratio Rank
ZLU.TO Calmar Ratio Rank: 3535
Calmar Ratio Rank
ZLU.TO Martin Ratio Rank: 3131
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. ZLU.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 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.

XUU.TOZLU.TODifference
Sharpe ratioReturn per unit of total volatility
2.25
1.20

+1.05

Sortino ratioReturn per unit of downside risk
3.06
1.63

+1.43

Omega ratioGain probability vs. loss probability

1.41

1.22

+0.20

Calmar ratioReturn relative to maximum drawdown

3.21

1.69

+1.52

Martin ratioReturn relative to average drawdown

12.07

4.27

+7.80

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

The current XUU.TO Sharpe Ratio is 2.25, which is higher than the ZLU.TO Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of XUU.TO and ZLU.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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Drawdowns

XUU.TO vs. ZLU.TO - Drawdown Comparison

The maximum XUU.TO drawdown since its inception was -28.22%, which is greater than ZLU.TO's maximum drawdown of -25.49%. Use the drawdown chart below to compare losses from any high point for XUU.TO and ZLU.TO.

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Drawdown Indicators

XUU.TOZLU.TODifference

Max Drawdown

Largest peak-to-trough decline

-28.22%

-25.49%

-2.73%

Max Drawdown (1Y)

Largest decline over 1 year

-8.80%

-7.52%

-1.28%

Max Drawdown (3Y)

Largest decline over 3 years

-19.70%

-9.15%

-10.55%

Max Drawdown (5Y)

Largest decline over 5 years

-23.40%

-10.30%

-13.10%

Max Drawdown (10Y)

Largest decline over 10 years

-28.22%

-25.49%

-2.73%

Current Drawdown

Current decline from peak

-1.75%

-0.27%

-1.48%

Average Drawdown

Average peak-to-trough decline

-4.14%

-3.09%

-1.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.33%

2.96%

-0.63%

Volatility

XUU.TO vs. ZLU.TO - Volatility Comparison

iShares Core S&P U.S. Total Market Index ETF (XUU.TO) has a higher volatility of 4.61% compared to BMO Low Volatility US Equity ETF (CAD) (ZLU.TO) at 3.10%. This indicates that XUU.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

XUU.TOZLU.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.61%

3.10%

+1.51%

Volatility (6M)

Calculated over the trailing 6-month period

9.82%

8.64%

+1.18%

Volatility (1Y)

Calculated over the trailing 1-year period

12.58%

10.59%

+1.99%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.53%

11.37%

+4.16%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.63%

13.92%

+2.71%

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

XUU.TO has a 0.07% expense ratio, which is lower than ZLU.TO's 0.33% expense ratio.

Dividends

XUU.TO vs. ZLU.TO - Dividend Comparison

XUU.TO's dividend yield for the trailing twelve months is around 1.01%, less than ZLU.TO's 1.73% 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%1.74%1.49%1.65%1.53%
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

XUU.TO and ZLU.TO have a correlation of 0.33, 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 0.33% for ZLU.TO.

They also come from different issuers: iShares and BMO. Their fees differ too: 0.07% for XUU.TO and 0.33% for ZLU.TO.

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