ZEA.TO vs. ZMMK.TO
ZEA.TO (BMO MSCI EAFE Index ETF) and ZMMK.TO (BMO Money Market Fund ETF Series) are both exchange-traded funds - ZEA.TO is a Global Equities fund tracking the MSCI EAFE Index, while ZMMK.TO is a Money Market fund actively managed by BMO. ZEA.TO is passively managed, while ZMMK.TO is actively managed. Over the past 3 years, ZEA.TO returned 17.95%/yr vs 3.86%/yr for ZMMK.TO. At a 0.06 correlation, their price movements are largely independent. ZEA.TO charges 0.22%/yr vs 0.13%/yr for ZMMK.TO.
Performance
ZEA.TO vs. ZMMK.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZEA.TO achieves a 10.79% return, which is significantly higher than ZMMK.TO's 0.99% return.
ZEA.TO
- 1D
- 0.72%
- 1M
- 4.84%
- YTD
- 10.79%
- 6M
- 10.55%
- 1Y
- 22.50%
- 3Y*
- 17.95%
- 5Y*
- 11.18%
- 10Y*
- 9.90%
ZMMK.TO
- 1D
- 0.04%
- 1M
- 0.19%
- YTD
- 0.99%
- 6M
- 1.17%
- 1Y
- 2.50%
- 3Y*
- 3.86%
- 5Y*
- —
- 10Y*
- —
ZEA.TO vs. ZMMK.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ZEA.TO BMO MSCI EAFE Index ETF | 10.79% | 24.28% | 11.56% | 16.02% | -8.51% | 2.57% |
ZMMK.TO BMO Money Market Fund ETF Series | 0.99% | 2.77% | 4.94% | 4.86% | 1.99% | 0.04% |
Correlation
The correlation between ZEA.TO and ZMMK.TO is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2021 | 0.06 |
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Return for Risk
ZEA.TO vs. ZMMK.TO — Risk / Return Rank
ZEA.TO
ZMMK.TO
ZEA.TO vs. ZMMK.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO MSCI EAFE Index ETF (ZEA.TO) and BMO Money Market Fund ETF Series (ZMMK.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.
| ZEA.TO | ZMMK.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -8.06 | ||
| Sortino ratioReturn per unit of downside risk | -21.79 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 5.48 | -4.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.07 | 83.57 | -81.50 |
| Martin ratioReturn relative to average drawdown | 8.07 | 380.38 | -372.31 |
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
| ZEA.TO | ZMMK.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.62 | 9.68 | -8.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.83 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.67 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 10.31 | -9.71 |
Drawdowns
ZEA.TO vs. ZMMK.TO - Drawdown Comparison
The maximum ZEA.TO drawdown since its inception was -27.80%, which is greater than ZMMK.TO's maximum drawdown of -0.16%. Use the drawdown chart below to compare losses from any high point for ZEA.TO and ZMMK.TO.
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Drawdown Indicators
| ZEA.TO | ZMMK.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.80% | -0.16% | -27.64% |
Max Drawdown (1Y)Largest decline over 1 year | -10.91% | -0.03% | -10.88% |
Max Drawdown (3Y)Largest decline over 3 years | -14.11% | -0.08% | -14.03% |
Max Drawdown (5Y)Largest decline over 5 years | -23.67% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -27.80% | — | — |
Current DrawdownCurrent decline from peak | -1.43% | 0.00% | -1.43% |
Average DrawdownAverage peak-to-trough decline | -4.63% | -0.00% | -4.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.79% | 0.01% | +2.78% |
Volatility
ZEA.TO vs. ZMMK.TO - Volatility Comparison
BMO MSCI EAFE Index ETF (ZEA.TO) has a higher volatility of 5.56% compared to BMO Money Market Fund ETF Series (ZMMK.TO) at 0.06%. This indicates that ZEA.TO's price experiences larger fluctuations and is considered to be riskier than ZMMK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZEA.TO | ZMMK.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.56% | 0.06% | +5.50% |
Volatility (6M)Calculated over the trailing 6-month period | 11.70% | 0.18% | +11.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.93% | 0.26% | +13.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.51% | 0.34% | +13.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.92% | 0.34% | +14.58% |
ZEA.TO vs. ZMMK.TO - Expense Ratio Comparison
ZEA.TO has a 0.22% expense ratio, which is higher than ZMMK.TO's 0.13% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ZEA.TO vs. ZMMK.TO - Dividend Comparison
ZEA.TO's dividend yield for the trailing twelve months is around 1.92%, less than ZMMK.TO's 2.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZEA.TO BMO MSCI EAFE Index ETF | 1.92% | 2.17% | 2.77% | 3.00% | 3.06% | 2.48% | 2.72% | 2.93% | 3.03% | 2.39% | 2.78% | 2.42% |
ZMMK.TO BMO Money Market Fund ETF Series | 2.53% | 3.02% | 4.66% | 4.98% | 1.95% | 0.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZEA.TO and ZMMK.TO have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZMMK.TO is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZMMK.TO is cheaper with a 0.13% expense ratio, compared with 0.22% for ZEA.TO.
ZEA.TO is categorized as Global Equities, while ZMMK.TO is Money Market. Their fees differ too: 0.22% for ZEA.TO and 0.13% for ZMMK.TO.
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