ZAG.TO vs. ZSP.TO
Compare and contrast key facts about BMO Aggregate Bond Index ETF (ZAG.TO) and BMO S&P 500 Index ETF (ZSP.TO).
ZAG.TO and ZSP.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZAG.TO is a passively managed fund by BMO that tracks the performance of the FTSE Canada Universe Bond Index. It was launched on Jan 19, 2010. ZSP.TO is a passively managed fund by BMO that tracks the performance of the S&P 500 Index. It was launched on Nov 14, 2012. Both ZAG.TO and ZSP.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ZAG.TO or ZSP.TO.
Key characteristics
| ZAG.TO | ZSP.TO | |
|---|---|---|
| YTD Return | 3.95% | 33.14% |
| 1Y Return | 10.48% | 40.50% |
| 3Y Return (Ann) | -0.17% | 14.15% |
| 5Y Return (Ann) | 0.70% | 16.86% |
| 10Y Return (Ann) | 2.04% | 15.49% |
| Sharpe Ratio | 1.55 | 3.56 |
| Sortino Ratio | 2.29 | 4.95 |
| Omega Ratio | 1.27 | 1.69 |
| Calmar Ratio | 0.66 | 5.12 |
| Martin Ratio | 5.41 | 25.26 |
| Ulcer Index | 1.75% | 1.57% |
| Daily Std Dev | 6.13% | 11.12% |
| Max Drawdown | -18.03% | -26.94% |
| Current Drawdown | -5.36% | 0.00% |
Correlation
The correlation between ZAG.TO and ZSP.TO is 0.31, 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.
Performance
ZAG.TO vs. ZSP.TO - Performance Comparison
In the year-to-date period, ZAG.TO achieves a 3.95% return, which is significantly lower than ZSP.TO's 33.14% return. Over the past 10 years, ZAG.TO has underperformed ZSP.TO with an annualized return of 2.04%, while ZSP.TO has yielded a comparatively higher 15.49% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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ZAG.TO vs. ZSP.TO - Expense Ratio Comparison
Both ZAG.TO and ZSP.TO have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Risk-Adjusted Performance
ZAG.TO vs. ZSP.TO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Aggregate Bond Index ETF (ZAG.TO) and BMO S&P 500 Index ETF (ZSP.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.
Dividends
ZAG.TO vs. ZSP.TO - Dividend Comparison
ZAG.TO's dividend yield for the trailing twelve months is around 3.44%, more than ZSP.TO's 0.98% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZAG.TO BMO Aggregate Bond Index ETF | 3.44% | 3.47% | 3.56% | 3.04% | 2.88% | 3.03% | 2.92% | 2.95% | 3.07% | 3.13% | 3.23% | 3.63% |
ZSP.TO BMO S&P 500 Index ETF | 0.98% | 1.33% | 1.44% | 1.15% | 1.45% | 1.48% | 1.64% | 1.64% | 2.20% | 1.54% | 1.46% | 1.52% |
Drawdowns
ZAG.TO vs. ZSP.TO - Drawdown Comparison
The maximum ZAG.TO drawdown since its inception was -18.03%, smaller than the maximum ZSP.TO drawdown of -26.94%. Use the drawdown chart below to compare losses from any high point for ZAG.TO and ZSP.TO. For additional features, visit the drawdowns tool.
Volatility
ZAG.TO vs. ZSP.TO - Volatility Comparison
The current volatility for BMO Aggregate Bond Index ETF (ZAG.TO) is 2.35%, while BMO S&P 500 Index ETF (ZSP.TO) has a volatility of 3.77%. This indicates that ZAG.TO experiences smaller price fluctuations and is considered to be less risky than ZSP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.