ZCS.TO vs. ZBI.TO
Compare and contrast key facts about BMO Short Corporate Bond Index ETF (ZCS.TO) and BMO Canadian Bank Income Index ETF (ZBI.TO).
ZCS.TO and ZBI.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZCS.TO is a passively managed fund by BMO that tracks the performance of the FTSE Canada Short Term Corporate Bond Index. It was launched on Oct 20, 2009. ZBI.TO is a passively managed fund by BMO that tracks the performance of the Solactive Canadian Bank Income Index. It was launched on Feb 7, 2022. Both ZCS.TO and ZBI.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
ZCS.TO vs. ZBI.TO - Performance Comparison
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ZCS.TO vs. ZBI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ZCS.TO BMO Short Corporate Bond Index ETF | 0.15% | 4.41% | 7.42% | 6.67% | -3.00% |
ZBI.TO BMO Canadian Bank Income Index ETF | 0.55% | 5.10% | 12.50% | 6.85% | -7.01% |
Returns By Period
In the year-to-date period, ZCS.TO achieves a 0.15% return, which is significantly lower than ZBI.TO's 0.55% return.
ZCS.TO
- 1D
- 0.22%
- 1M
- -1.01%
- YTD
- 0.15%
- 6M
- 0.61%
- 1Y
- 3.27%
- 3Y*
- 5.49%
- 5Y*
- 2.68%
- 10Y*
- 2.75%
ZBI.TO
- 1D
- 0.16%
- 1M
- -0.52%
- YTD
- 0.55%
- 6M
- 1.16%
- 1Y
- 4.75%
- 3Y*
- 7.83%
- 5Y*
- —
- 10Y*
- —
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ZCS.TO vs. ZBI.TO - Expense Ratio Comparison
ZCS.TO has a 0.11% expense ratio, which is lower than ZBI.TO's 0.28% expense ratio.
Return for Risk
ZCS.TO vs. ZBI.TO — Risk / Return Rank
ZCS.TO
ZBI.TO
ZCS.TO vs. ZBI.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Short Corporate Bond Index ETF (ZCS.TO) and BMO Canadian Bank Income Index ETF (ZBI.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.
| ZCS.TO | ZBI.TO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.57 | 2.09 | -0.52 |
Sortino ratioReturn per unit of downside risk | 2.09 | 2.97 | -0.88 |
Omega ratioGain probability vs. loss probability | 1.32 | 1.47 | -0.15 |
Calmar ratioReturn relative to maximum drawdown | 2.05 | 3.71 | -1.66 |
Martin ratioReturn relative to average drawdown | 9.00 | 15.19 | -6.19 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ZCS.TO | ZBI.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.57 | 2.09 | -0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.94 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.63 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | 1.12 | -0.33 |
Correlation
The correlation between ZCS.TO and ZBI.TO is 0.31, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
ZCS.TO vs. ZBI.TO - Dividend Comparison
ZCS.TO's dividend yield for the trailing twelve months is around 3.82%, less than ZBI.TO's 4.28% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZCS.TO BMO Short Corporate Bond Index ETF | 3.82% | 3.60% | 3.27% | 3.35% | 3.23% | 2.99% | 2.88% | 2.96% | 2.88% | 3.04% | 3.34% | 3.53% |
ZBI.TO BMO Canadian Bank Income Index ETF | 4.28% | 4.01% | 3.36% | 3.58% | 2.66% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
ZCS.TO vs. ZBI.TO - Drawdown Comparison
The maximum ZCS.TO drawdown since its inception was -13.95%, which is greater than ZBI.TO's maximum drawdown of -8.22%. Use the drawdown chart below to compare losses from any high point for ZCS.TO and ZBI.TO.
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Drawdown Indicators
| ZCS.TO | ZBI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.95% | -8.22% | -5.73% |
Max Drawdown (1Y)Largest decline over 1 year | -1.63% | -1.25% | -0.38% |
Max Drawdown (5Y)Largest decline over 5 years | -7.76% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -13.95% | — | — |
Current DrawdownCurrent decline from peak | -1.01% | -0.57% | -0.44% |
Average DrawdownAverage peak-to-trough decline | -0.90% | -2.34% | +1.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.37% | 0.31% | +0.06% |
Volatility
ZCS.TO vs. ZBI.TO - Volatility Comparison
BMO Short Corporate Bond Index ETF (ZCS.TO) has a higher volatility of 1.22% compared to BMO Canadian Bank Income Index ETF (ZBI.TO) at 0.93%. This indicates that ZCS.TO's price experiences larger fluctuations and is considered to be riskier than ZBI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZCS.TO | ZBI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 0.93% | +0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 1.60% | 1.45% | +0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.09% | 2.28% | -0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.86% | 3.70% | -0.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.38% | 3.70% | +0.68% |