ZBBB.TO vs. DXO.TO
ZBBB.TO (BMO BBB Corporate Bond Index ETF) and DXO.TO (Dynamic Active Crossover Bond ETF) are both Corporate Bonds funds. ZBBB.TO is passively managed, while DXO.TO is actively managed. Over the past 5 years, ZBBB.TO returned 3.08%/yr vs 2.78%/yr for DXO.TO. At a 0.15 correlation, their price movements are largely independent.
Performance
ZBBB.TO vs. DXO.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZBBB.TO achieves a 1.74% return, which is significantly lower than DXO.TO's 1.86% return.
ZBBB.TO
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 1.22%
- YTD
- 1.74%
- 1Y
- 4.98%
- 3Y*
- 6.94%
- 5Y*
- 3.08%
- 10Y*
- —
DXO.TO
- 1D
- 0.21%
- 1M
- 0.21%
- 6M
- 1.45%
- YTD
- 1.86%
- 1Y
- 5.69%
- 3Y*
- 7.29%
- 5Y*
- 2.78%
- 10Y*
- —
ZBBB.TO vs. DXO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ZBBB.TO BMO BBB Corporate Bond Index ETF | 1.74% | 4.83% | 8.00% | 5.61% | -4.43% | -1.12% | 6.72% |
DXO.TO Dynamic Active Crossover Bond ETF | 1.86% | 6.82% | 6.51% | 11.28% | -12.16% | 5.03% | 8.39% |
Correlation
The correlation between ZBBB.TO and DXO.TO is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2020 | 0.15 |
Over the past year, ZBBB.TO and DXO.TO have become more correlated (0.37) than their long-term average of 0.15, meaning their price movements have been converging.
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Return for Risk
ZBBB.TO vs. DXO.TO — Risk / Return Rank
ZBBB.TO
DXO.TO
ZBBB.TO vs. DXO.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO BBB Corporate Bond Index ETF (ZBBB.TO) and Dynamic Active Crossover Bond ETF (DXO.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.
| ZBBB.TO | DXO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.37 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.40 | 2.37 | +0.03 |
| Martin ratioReturn relative to average drawdown | 6.77 | 10.24 | -3.48 |
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Drawdowns
ZBBB.TO vs. DXO.TO - Drawdown Comparison
The maximum ZBBB.TO drawdown since its inception was -11.55%, smaller than the maximum DXO.TO drawdown of -17.61%. Use the drawdown chart below to compare losses from any high point for ZBBB.TO and DXO.TO.
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Drawdown Indicators
| ZBBB.TO | DXO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.55% | -17.61% | +6.06% |
Max Drawdown (1Y)Largest decline over 1 year | -1.97% | -2.41% | +0.44% |
Max Drawdown (3Y)Largest decline over 3 years | -1.97% | -3.78% | +1.81% |
Max Drawdown (5Y)Largest decline over 5 years | -11.23% | -15.91% | +4.68% |
Current DrawdownCurrent decline from peak | 0.00% | -0.51% | +0.51% |
Average DrawdownAverage peak-to-trough decline | -2.65% | -2.94% | +0.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.70% | 0.56% | +0.14% |
Volatility
ZBBB.TO vs. DXO.TO - Volatility Comparison
The current volatility for BMO BBB Corporate Bond Index ETF (ZBBB.TO) is 0.66%, while Dynamic Active Crossover Bond ETF (DXO.TO) has a volatility of 0.97%. This indicates that ZBBB.TO experiences smaller price fluctuations and is considered to be less risky than DXO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZBBB.TO | DXO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.66% | 0.97% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 1.98% | 2.65% | -0.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.13% | 3.34% | -0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.51% | 5.63% | -1.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.84% | 7.74% | -1.90% |
Dividends
ZBBB.TO vs. DXO.TO - Dividend Comparison
ZBBB.TO's dividend yield for the trailing twelve months is around 3.18%, less than DXO.TO's 5.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DXO.TO Dynamic Active Crossover Bond ETF | 5.31% | 5.55% | 5.61% | 5.65% | 5.29% | 4.15% | 4.20% | 3.96% | 4.31% | 2.15% |
ZBBB.TO BMO BBB Corporate Bond Index ETF | 3.18% | 4.11% | 3.72% | 3.47% | 4.42% | 3.23% | 3.10% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZBBB.TO and DXO.TO have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: BMO and Dynamic.
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