PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
ZCON.TO vs. VBAL.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ZCON.TO vs. VBAL.TO

Last updated Apr 1, 2026

Compare and contrast key facts about BMO Conservative ETF (ZCON.TO) and Vanguard Balanced ETF Portfolio (VBAL.TO).

ZCON.TO and VBAL.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZCON.TO is managed by BMO. It was launched on Feb 12, 2019. VBAL.TO is an actively managed fund by Vanguard. It was launched on Jan 25, 2018.

Performance

ZCON.TO vs. VBAL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Conservative ETF (ZCON.TO) and Vanguard Balanced ETF Portfolio (VBAL.TO). The values are adjusted to include any dividend payments, if applicable.

Loading graphics...

ZCON.TO vs. VBAL.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
ZCON.TO
BMO Conservative ETF		0.31%9.31%11.51%9.89%-11.00%6.06%9.69%7.50%
VBAL.TO
Vanguard Balanced ETF Portfolio		0.43%13.28%14.60%12.46%-11.41%10.19%10.25%8.14%

Returns By Period

In the year-to-date period, ZCON.TO achieves a 0.31% return, which is significantly lower than VBAL.TO's 0.43% return.

ZCON.TO

1D
1.29%
1M
-2.78%
YTD
0.31%
6M
1.18%
1Y
8.64%
3Y*
8.93%
5Y*
5.01%
10Y*
—

VBAL.TO

1D
1.84%
1M
-3.47%
YTD
0.43%
6M
2.10%
1Y
13.39%
3Y*
11.80%
5Y*
6.97%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

BMO Conservative ETF

Vanguard Balanced ETF Portfolio

Often compared with ZCON.TO:
ZCON.TO vs. ZMMK.TOZCON.TO vs. PYF.TOZCON.TO vs. ZBAL.TOZCON.TO vs. MIX.TOZCON.TO vs. XBAL.TOZCON.TO vs. XTR.TOZCON.TO vs. FBAL.NEO
Often compared with VBAL.TO:
VBAL.TO vs. VGRO.TOVBAL.TO vs. XBAL.TOVBAL.TO vs. VEQT.TOVBAL.TO vs. XEQT.TOVBAL.TO vs. VTVBAL.TO vs. VOOVBAL.TO vs. VCNS.TO

ZCON.TO vs. VBAL.TO - Expense Ratio Comparison

ZCON.TO has a 0.15% expense ratio, which is lower than VBAL.TO's 0.24% 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%.

VBAL.TO
Vanguard Balanced ETF Portfolio
ZCON.TO
BMO Conservative ETF

Return for Risk

ZCON.TO vs. VBAL.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZCON.TO
ZCON.TO Risk / Return Rank: 6060
Overall Rank
ZCON.TO Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
ZCON.TO Sortino Ratio Rank: 6060
Sortino Ratio Rank
ZCON.TO Omega Ratio Rank: 5959
Omega Ratio Rank
ZCON.TO Calmar Ratio Rank: 5959
Calmar Ratio Rank
ZCON.TO Martin Ratio Rank: 6060
Martin Ratio Rank
VBAL.TO
VBAL.TO Risk / Return Rank: 7777
Overall Rank
VBAL.TO Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
VBAL.TO Sortino Ratio Rank: 7676
Sortino Ratio Rank
VBAL.TO Omega Ratio Rank: 7777
Omega Ratio Rank
VBAL.TO Calmar Ratio Rank: 7575
Calmar Ratio Rank
VBAL.TO Martin Ratio Rank: 7878
Martin Ratio Rank
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.

ZCON.TO vs. VBAL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Conservative ETF (ZCON.TO) and Vanguard Balanced ETF Portfolio (VBAL.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.

ZCON.TOVBAL.TODifference

Sharpe ratio

Return per unit of total volatility

1.14

1.33

-0.19

Sortino ratio

Return per unit of downside risk

1.59

1.85

-0.26

Omega ratio

Gain probability vs. loss probability

1.23

1.28

-0.05

Calmar ratio

Return relative to maximum drawdown

1.56

1.86

-0.29

Martin ratio

Return relative to average drawdown

6.04

7.73

-1.68

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZCON.TO vs. VBAL.TO - Sharpe Ratio Comparison

The current ZCON.TO Sharpe Ratio is 1.14, which is comparable to the VBAL.TO Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of ZCON.TO and VBAL.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Loading graphics...

Sharpe Ratios by Period

ZCON.TOVBAL.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.14

1.33

-0.19

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.70

0.82

-0.12

Sharpe Ratio (All Time)

Calculated using the full available price history

0.73

0.71

+0.02

Correlation

The correlation between ZCON.TO and VBAL.TO is 0.61, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ZCON.TO vs. VBAL.TO - Dividend Comparison

ZCON.TO's dividend yield for the trailing twelve months is around 2.16%, less than VBAL.TO's 2.20% yield.

TTM20252024202320222021202020192018
ZCON.TO
BMO Conservative ETF		2.16%2.36%2.49%2.71%2.89%2.50%2.59%2.51%0.00%
VBAL.TO
Vanguard Balanced ETF Portfolio		2.20%2.21%2.29%2.34%2.19%1.93%1.81%2.23%2.01%

Drawdowns

ZCON.TO vs. VBAL.TO - Drawdown Comparison

The maximum ZCON.TO drawdown since its inception was -17.22%, smaller than the maximum VBAL.TO drawdown of -21.19%. Use the drawdown chart below to compare losses from any high point for ZCON.TO and VBAL.TO.

Loading graphics...

Drawdown Indicators

ZCON.TOVBAL.TODifference

Max Drawdown

Largest peak-to-trough decline

-17.22%

-21.19%

+3.97%

Max Drawdown (1Y)

Largest decline over 1 year

-5.76%

-7.55%

+1.79%

Max Drawdown (5Y)

Largest decline over 5 years

-15.88%

-16.43%

+0.55%

Current Drawdown

Current decline from peak

-2.93%

-3.72%

+0.79%

Average Drawdown

Average peak-to-trough decline

-3.26%

-3.21%

-0.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.49%

1.81%

-0.32%

Volatility

ZCON.TO vs. VBAL.TO - Volatility Comparison

The current volatility for BMO Conservative ETF (ZCON.TO) is 3.02%, while Vanguard Balanced ETF Portfolio (VBAL.TO) has a volatility of 4.17%. This indicates that ZCON.TO experiences smaller price fluctuations and is considered to be less risky than VBAL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading graphics...

Volatility by Period

ZCON.TOVBAL.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.02%

4.17%

-1.15%

Volatility (6M)

Calculated over the trailing 6-month period

4.68%

6.26%

-1.58%

Volatility (1Y)

Calculated over the trailing 1-year period

7.64%

10.14%

-2.50%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.17%

8.54%

-1.37%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.02%

10.10%

-2.08%