ZCB.TO vs. CRT-UN.TO

Last updated Jun 9, 2026

ZCB.TO (BMO Corporate Bond Index ETF) is Corporate Bonds fund tracking the FTSE Canada All Corporate Bond Index, while CRT-UN.TO (CT Real Estate Investment Trust) is a stock. Over the past 5 years, ZCB.TO returned 2.00%/yr vs 7.05%/yr for CRT-UN.TO. At a 0.09 correlation, their price movements are largely independent.

Performance

ZCB.TO vs. CRT-UN.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Corporate Bond Index ETF (ZCB.TO) and CT Real Estate Investment Trust (CRT-UN.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZCB.TO achieves a 1.42% return, which is significantly lower than CRT-UN.TO's 11.59% return.

ZCB.TO

• 1D: -0.29%
• 1M: 0.25%
• YTD: 1.42%
• 6M: 1.88%
• 1Y: 4.11%
• 3Y*: 6.12%
• 5Y*: 2.00%
• 10Y*: —

CRT-UN.TO

• 1D: -0.11%
• 1M: 1.42%
• YTD: 11.59%
• 6M: 15.18%
• 1Y: 16.30%
• 3Y*: 12.39%
• 5Y*: 7.05%
• 10Y*: 7.63%

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

ZCB.TO vs. CRT-UN.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
ZCB.TO BMO Corporate Bond Index ETF	1.42%	3.81%	6.60%	8.73%	-10.20%	-2.22%	8.33%	8.03%	0.88%
CRT-UN.TO CT Real Estate Investment Trust	11.59%	20.98%	3.91%	-0.26%	-5.16%	16.12%	2.73%	47.59%	-9.00%

Correlation

The correlation between ZCB.TO and CRT-UN.TO is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.14
Correlation (All Time) Calculated using the full available price history since Mar 19, 2018	0.09

The correlation between ZCB.TO and CRT-UN.TO shifts across timeframes, from 0.09 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

ZCB.TO vs. CRT-UN.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ZCB.TO

ZCB.TO Risk / Return Rank: 35
ZCB.TO Sharpe Ratio Rank: 34
ZCB.TO Sortino Ratio Rank: 32
ZCB.TO Omega Ratio Rank: 35
ZCB.TO Calmar Ratio Rank: 36
ZCB.TO Martin Ratio Rank: 35

CRT-UN.TO

CRT-UN.TO Risk / Return Rank: 77
CRT-UN.TO Sharpe Ratio Rank: 79
CRT-UN.TO Sortino Ratio Rank: 75
CRT-UN.TO Omega Ratio Rank: 71
CRT-UN.TO Calmar Ratio Rank: 81
CRT-UN.TO Martin Ratio Rank: 82

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.

ZCB.TO vs. CRT-UN.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Corporate Bond Index ETF (ZCB.TO) and CT Real Estate Investment Trust (CRT-UN.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.

	ZCB.TO	CRT-UN.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.12	1.29	-0.17
Sortino ratio: Return per unit of downside risk	1.56	1.93	-0.38
Omega ratio: Gain probability vs. loss probability	1.21	1.22	-0.01
Calmar ratio: Return relative to maximum drawdown	1.62	2.63	-1.01
Martin ratio: Return relative to average drawdown	4.80	6.86	-2.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZCB.TO vs. CRT-UN.TO - Sharpe Ratio Comparison

The current ZCB.TO Sharpe Ratio is 1.12, which is comparable to the CRT-UN.TO Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of ZCB.TO and CRT-UN.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.

Sharpe Ratios by Period

	ZCB.TO	CRT-UN.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.12	1.29	-0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.40	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.38	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.54	0.00

Drawdowns

ZCB.TO vs. CRT-UN.TO - Drawdown Comparison

The maximum ZCB.TO drawdown since its inception was -15.70%, smaller than the maximum CRT-UN.TO drawdown of -45.88%. Use the drawdown chart below to compare losses from any high point for ZCB.TO and CRT-UN.TO.

Drawdown Indicators

	ZCB.TO	CRT-UN.TO	Difference
Max Drawdown Largest peak-to-trough decline	-15.70%	-45.88%	+30.18%
Max Drawdown (1Y) Largest decline over 1 year	-2.55%	-6.24%	+3.69%
Max Drawdown (3Y) Largest decline over 3 years	-3.27%	-17.38%	+14.11%
Max Drawdown (5Y) Largest decline over 5 years	-14.20%	-24.70%	+10.50%
Max Drawdown (10Y) Largest decline over 10 years	—	-45.88%	—
Current Drawdown Current decline from peak	-0.60%	-0.84%	+0.24%
Average Drawdown Average peak-to-trough decline	-3.70%	-6.26%	+2.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	2.38%	-1.52%

Volatility

ZCB.TO vs. CRT-UN.TO - Volatility Comparison

The current volatility for BMO Corporate Bond Index ETF (ZCB.TO) is 1.41%, while CT Real Estate Investment Trust (CRT-UN.TO) has a volatility of 2.78%. This indicates that ZCB.TO experiences smaller price fluctuations and is considered to be less risky than CRT-UN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZCB.TO	CRT-UN.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.41%	2.78%	-1.37%
Volatility (6M) Calculated over the trailing 6-month period	3.01%	9.36%	-6.35%
Volatility (1Y) Calculated over the trailing 1-year period	3.70%	12.74%	-9.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.19%	17.64%	-12.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.42%	20.22%	-14.80%

Dividends

ZCB.TO vs. CRT-UN.TO - Dividend Comparison

ZCB.TO's dividend yield for the trailing twelve months is around 4.05%, less than CRT-UN.TO's 5.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CRT-UN.TO CT Real Estate Investment Trust	5.35%	5.77%	6.40%	6.04%	5.48%	4.76%	5.08%	4.71%	6.34%	4.84%	4.54%	5.11%
ZCB.TO BMO Corporate Bond Index ETF	4.05%	4.00%	3.84%	3.89%	3.62%	3.13%	2.97%	3.12%	3.27%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ZCB.TO and CRT-UN.TO in my portfolio?

ZCB.TO and CRT-UN.TO have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.