ZBK.TO vs. XUSF.TO
ZBK.TO (BMO Equal Weight US Banks Index ETF) and XUSF.TO (iShares S&P U.S. Financials Index ETF) are both Financials Equities funds. Over the past year, ZBK.TO returned 33.93% vs 7.71% for XUSF.TO. A 0.55 correlation means they provide meaningful diversification when combined.
Performance
ZBK.TO vs. XUSF.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZBK.TO achieves a 14.86% return, which is significantly higher than XUSF.TO's 1.19% return.
ZBK.TO
- 1D
- -0.64%
- 1M
- 10.85%
- YTD
- 14.86%
- 6M
- 14.22%
- 1Y
- 33.93%
- 3Y*
- 34.14%
- 5Y*
- 11.23%
- 10Y*
- 14.14%
XUSF.TO
- 1D
- -0.01%
- 1M
- 7.21%
- YTD
- 1.19%
- 6M
- 1.19%
- 1Y
- 7.71%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZBK.TO vs. XUSF.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ZBK.TO BMO Equal Weight US Banks Index ETF | 14.86% | 16.76% | 46.09% | 15.96% |
XUSF.TO iShares S&P U.S. Financials Index ETF | 1.19% | 9.67% | 39.77% | 8.23% |
Correlation
The correlation between ZBK.TO and XUSF.TO is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Sep 6, 2023 | 0.55 |
The correlation between ZBK.TO and XUSF.TO has been stable across timeframes, ranging from 0.55 to 0.62 - a consistent structural relationship.
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Return for Risk
ZBK.TO vs. XUSF.TO — Risk / Return Rank
ZBK.TO
XUSF.TO
ZBK.TO vs. XUSF.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Equal Weight US Banks Index ETF (ZBK.TO) and iShares S&P U.S. Financials Index ETF (XUSF.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.
| ZBK.TO | XUSF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.12 | ||
| Sortino ratioReturn per unit of downside risk | +1.43 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.12 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 0.53 | +1.53 |
| Martin ratioReturn relative to average drawdown | 6.11 | 1.26 | +4.85 |
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Drawdowns
ZBK.TO vs. XUSF.TO - Drawdown Comparison
The maximum ZBK.TO drawdown since its inception was -48.80%, which is greater than XUSF.TO's maximum drawdown of -16.88%. Use the drawdown chart below to compare losses from any high point for ZBK.TO and XUSF.TO.
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Drawdown Indicators
| ZBK.TO | XUSF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.80% | -16.88% | -31.92% |
Max Drawdown (1Y)Largest decline over 1 year | -16.57% | -14.66% | -1.91% |
Max Drawdown (3Y)Largest decline over 3 years | -26.70% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -48.80% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -48.80% | — | — |
Current DrawdownCurrent decline from peak | -0.91% | -1.87% | +0.96% |
Average DrawdownAverage peak-to-trough decline | -12.32% | -3.49% | -8.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.56% | 6.15% | -0.59% |
Volatility
ZBK.TO vs. XUSF.TO - Volatility Comparison
BMO Equal Weight US Banks Index ETF (ZBK.TO) has a higher volatility of 5.17% compared to iShares S&P U.S. Financials Index ETF (XUSF.TO) at 3.73%. This indicates that ZBK.TO's price experiences larger fluctuations and is considered to be riskier than XUSF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZBK.TO | XUSF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.17% | 3.73% | +1.44% |
Volatility (6M)Calculated over the trailing 6-month period | 15.62% | 11.67% | +3.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.83% | 14.94% | +5.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.51% | 17.78% | +8.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.76% | 17.78% | +10.98% |
Dividends
ZBK.TO vs. XUSF.TO - Dividend Comparison
ZBK.TO's dividend yield for the trailing twelve months is around 1.66%, more than XUSF.TO's 0.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XUSF.TO iShares S&P U.S. Financials Index ETF | 0.88% | 0.75% | 0.81% | 0.34% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZBK.TO BMO Equal Weight US Banks Index ETF | 1.66% | 1.84% | 2.09% | 2.92% | 2.35% | 1.92% | 2.62% | 2.17% | 1.78% | 1.12% | 1.22% | 1.26% |
Frequently Asked Questions
ZBK.TO and XUSF.TO have a correlation of 0.62, 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 iShares.
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