ZAG.TO vs. ZST.TO
Compare and contrast key facts about BMO Aggregate Bond Index ETF (ZAG.TO) and BMO Ultra Short-Term Bond ETF (ZST.TO).
ZAG.TO and ZST.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. ZST.TO is an actively managed fund by BMO. It was launched on Jan 27, 2011.
Performance
ZAG.TO vs. ZST.TO - Performance Comparison
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ZAG.TO vs. ZST.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZAG.TO BMO Aggregate Bond Index ETF | 0.04% | 2.25% | 4.48% | 6.41% | -11.60% | -2.60% | 8.34% | 6.84% | 1.12% | 2.45% |
ZST.TO BMO Ultra Short-Term Bond ETF | 0.59% | 2.03% | 5.16% | 5.33% | 1.19% | 0.22% | 1.74% | 2.36% | 1.95% | 1.43% |
Returns By Period
In the year-to-date period, ZAG.TO achieves a 0.04% return, which is significantly lower than ZST.TO's 0.59% return. Over the past 10 years, ZAG.TO has underperformed ZST.TO with an annualized return of 1.66%, while ZST.TO has yielded a comparatively higher 2.32% annualized return.
ZAG.TO
- 1D
- 0.15%
- 1M
- -2.08%
- YTD
- 0.04%
- 6M
- -0.26%
- 1Y
- 0.56%
- 3Y*
- 3.34%
- 5Y*
- 0.58%
- 10Y*
- 1.66%
ZST.TO
- 1D
- 0.06%
- 1M
- 0.21%
- YTD
- 0.59%
- 6M
- 0.20%
- 1Y
- 1.71%
- 3Y*
- 3.95%
- 5Y*
- 2.86%
- 10Y*
- 2.32%
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ZAG.TO vs. ZST.TO - Expense Ratio Comparison
ZAG.TO has a 0.09% expense ratio, which is lower than ZST.TO's 0.17% 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%.
Return for Risk
ZAG.TO vs. ZST.TO — Risk / Return Rank
ZAG.TO
ZST.TO
ZAG.TO vs. ZST.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Aggregate Bond Index ETF (ZAG.TO) and BMO Ultra Short-Term Bond ETF (ZST.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.
| ZAG.TO | ZST.TO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.12 | 1.57 | -1.45 |
Sortino ratioReturn per unit of downside risk | 0.19 | 1.66 | -1.47 |
Omega ratioGain probability vs. loss probability | 1.02 | 1.78 | -0.75 |
Calmar ratioReturn relative to maximum drawdown | 0.30 | 1.72 | -1.42 |
Martin ratioReturn relative to average drawdown | 0.60 | 4.78 | -4.18 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ZAG.TO | ZST.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.12 | 1.57 | -1.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.09 | 3.99 | -3.90 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.24 | 3.25 | -3.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 1.79 | -1.35 |
Correlation
The correlation between ZAG.TO and ZST.TO is 0.21, 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
ZAG.TO vs. ZST.TO - Dividend Comparison
ZAG.TO's dividend yield for the trailing twelve months is around 3.48%, more than ZST.TO's 2.62% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZAG.TO BMO Aggregate Bond Index ETF | 3.48% | 3.48% | 3.44% | 3.47% | 3.56% | 3.04% | 2.88% | 3.03% | 2.92% | 2.95% | 3.07% | 3.13% |
ZST.TO BMO Ultra Short-Term Bond ETF | 2.62% | 2.82% | 4.65% | 4.79% | 2.75% | 2.29% | 2.65% | 2.82% | 3.43% | 4.05% | 3.92% | 3.90% |
Drawdowns
ZAG.TO vs. ZST.TO - Drawdown Comparison
The maximum ZAG.TO drawdown since its inception was -18.03%, which is greater than ZST.TO's maximum drawdown of -1.06%. Use the drawdown chart below to compare losses from any high point for ZAG.TO and ZST.TO.
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Drawdown Indicators
| ZAG.TO | ZST.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.03% | -1.06% | -16.97% |
Max Drawdown (1Y)Largest decline over 1 year | -2.84% | -1.01% | -1.83% |
Max Drawdown (5Y)Largest decline over 5 years | -15.77% | -1.01% | -14.76% |
Max Drawdown (10Y)Largest decline over 10 years | -18.03% | -1.06% | -16.97% |
Current DrawdownCurrent decline from peak | -2.71% | -0.40% | -2.31% |
Average DrawdownAverage peak-to-trough decline | -3.56% | -0.13% | -3.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.41% | 0.36% | +1.05% |
Volatility
ZAG.TO vs. ZST.TO - Volatility Comparison
BMO Aggregate Bond Index ETF (ZAG.TO) has a higher volatility of 1.90% compared to BMO Ultra Short-Term Bond ETF (ZST.TO) at 0.15%. This indicates that ZAG.TO's price experiences larger fluctuations and is considered to be riskier than ZST.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZAG.TO | ZST.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.90% | 0.15% | +1.75% |
Volatility (6M)Calculated over the trailing 6-month period | 2.96% | 1.05% | +1.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.65% | 1.09% | +3.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.53% | 0.72% | +5.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.09% | 0.72% | +6.37% |