ZCB.TO vs. DXO.TO
ZCB.TO (BMO Corporate Bond Index ETF) and DXO.TO (Dynamic Active Crossover Bond ETF) are both Corporate Bonds funds. ZCB.TO is passively managed, while DXO.TO is actively managed. Over the past 5 years, ZCB.TO returned 1.91%/yr vs 2.78%/yr for DXO.TO. At a 0.26 correlation, their price movements are largely independent.
Performance
ZCB.TO vs. DXO.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ZCB.TO achieves a 1.60% return, which is significantly lower than DXO.TO's 1.86% return.
ZCB.TO
- 1D
- 0.17%
- 1M
- -0.45%
- 6M
- 0.92%
- YTD
- 1.60%
- 1Y
- 4.66%
- 3Y*
- 5.97%
- 5Y*
- 1.91%
- 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*
- —
ZCB.TO vs. DXO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ZCB.TO BMO Corporate Bond Index ETF | 1.60% | 3.81% | 6.60% | 8.73% | -10.20% | -2.22% | 8.33% | 8.03% | 0.90% |
DXO.TO Dynamic Active Crossover Bond ETF | 1.86% | 6.82% | 6.51% | 11.28% | -12.16% | 5.03% | 10.15% | 12.26% | -0.16% |
Correlation
The correlation between ZCB.TO and DXO.TO is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Mar 16, 2018 | 0.26 |
The correlation between ZCB.TO and DXO.TO shifts across timeframes, from 0.26 (all time) to 0.40 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ZCB.TO vs. DXO.TO — Risk / Return Rank
ZCB.TO
DXO.TO
ZCB.TO vs. DXO.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Corporate Bond Index ETF (ZCB.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.
| ZCB.TO | DXO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.37 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 2.37 | -0.53 |
| Martin ratioReturn relative to average drawdown | 5.62 | 10.24 | -4.63 |
Loading charts...
Drawdowns
ZCB.TO vs. DXO.TO - Drawdown Comparison
The maximum ZCB.TO drawdown since its inception was -15.70%, smaller than the maximum DXO.TO drawdown of -17.61%. Use the drawdown chart below to compare losses from any high point for ZCB.TO and DXO.TO.
Loading charts...
Drawdown Indicators
| ZCB.TO | DXO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.70% | -17.61% | +1.91% |
Max Drawdown (1Y)Largest decline over 1 year | -2.55% | -2.41% | -0.14% |
Max Drawdown (3Y)Largest decline over 3 years | -3.14% | -3.78% | +0.64% |
Max Drawdown (5Y)Largest decline over 5 years | -14.20% | -15.91% | +1.71% |
Current DrawdownCurrent decline from peak | -0.72% | -0.51% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -3.65% | -2.94% | -0.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | 0.56% | +0.27% |
Volatility
ZCB.TO vs. DXO.TO - Volatility Comparison
BMO Corporate Bond Index ETF (ZCB.TO) and Dynamic Active Crossover Bond ETF (DXO.TO) have volatilities of 0.93% and 0.97%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ZCB.TO | DXO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.93% | 0.97% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 2.94% | 2.65% | +0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.71% | 3.34% | +0.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.20% | 5.63% | -0.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.40% | 7.74% | -2.34% |
Dividends
ZCB.TO vs. DXO.TO - Dividend Comparison
ZCB.TO's dividend yield for the trailing twelve months is around 4.14%, 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% |
ZCB.TO BMO Corporate Bond Index ETF | 4.14% | 4.00% | 3.84% | 3.89% | 3.62% | 3.13% | 2.97% | 3.12% | 3.27% | 0.00% |
Frequently Asked Questions
ZCB.TO and DXO.TO have a correlation of 0.40, 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.
Find the right allocation for ZCB.TO and DXO.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer