ZEQT.TO vs. ZUCM.TO
ZEQT.TO (BMO All-Equity ETF) and ZUCM.TO (BMO USD Cash Management ETF) are both exchange-traded funds - ZEQT.TO is a Global Equities fund actively managed by BMO, while ZUCM.TO is a Money Market fund actively managed by BMO. Both are actively managed. Over the past year, ZEQT.TO returned 30.84% vs 8.00% for ZUCM.TO. At a correlation of -0.04, they often move in opposite directions. ZEQT.TO charges 0.18%/yr vs 0.14%/yr for ZUCM.TO.
Performance
ZEQT.TO vs. ZUCM.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZEQT.TO achieves a 13.34% return, which is significantly higher than ZUCM.TO's 5.52% return.
ZEQT.TO
- 1D
- -0.13%
- 1M
- -0.90%
- YTD
- 13.34%
- 6M
- 12.70%
- 1Y
- 30.84%
- 3Y*
- 26.67%
- 5Y*
- —
- 10Y*
- —
ZUCM.TO
- 1D
- 0.22%
- 1M
- 3.33%
- YTD
- 5.52%
- 6M
- 5.92%
- 1Y
- 8.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZEQT.TO vs. ZUCM.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ZEQT.TO BMO All-Equity ETF | 13.34% | 21.71% | 30.06% | 9.27% |
ZUCM.TO BMO USD Cash Management ETF | 5.52% | -0.61% | 14.39% | -1.38% |
Correlation
The correlation between ZEQT.TO and ZUCM.TO is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Oct 2, 2023 | -0.04 |
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Return for Risk
ZEQT.TO vs. ZUCM.TO — Risk / Return Rank
ZEQT.TO
ZUCM.TO
ZEQT.TO vs. ZUCM.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO All-Equity ETF (ZEQT.TO) and BMO USD Cash Management ETF (ZUCM.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.
| ZEQT.TO | ZUCM.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.34 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.55 | 2.18 | +1.38 |
| Martin ratioReturn relative to average drawdown | 14.64 | 5.82 | +8.82 |
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Drawdowns
ZEQT.TO vs. ZUCM.TO - Drawdown Comparison
The maximum ZEQT.TO drawdown since its inception was -15.18%, which is greater than ZUCM.TO's maximum drawdown of -5.81%. Use the drawdown chart below to compare losses from any high point for ZEQT.TO and ZUCM.TO.
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Drawdown Indicators
| ZEQT.TO | ZUCM.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.18% | -5.81% | -9.37% |
Max Drawdown (1Y)Largest decline over 1 year | -8.72% | -3.69% | -5.03% |
Max Drawdown (3Y)Largest decline over 3 years | -14.62% | — | — |
Current DrawdownCurrent decline from peak | -1.66% | 0.00% | -1.66% |
Average DrawdownAverage peak-to-trough decline | -2.57% | -1.68% | -0.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.11% | 1.38% | +0.73% |
Volatility
ZEQT.TO vs. ZUCM.TO - Volatility Comparison
BMO All-Equity ETF (ZEQT.TO) has a higher volatility of 4.47% compared to BMO USD Cash Management ETF (ZUCM.TO) at 1.08%. This indicates that ZEQT.TO's price experiences larger fluctuations and is considered to be riskier than ZUCM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZEQT.TO | ZUCM.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.47% | 1.08% | +3.39% |
Volatility (6M)Calculated over the trailing 6-month period | 11.08% | 3.15% | +7.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.37% | 4.41% | +8.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.51% | 5.32% | +8.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.51% | 5.32% | +8.19% |
ZEQT.TO vs. ZUCM.TO - Expense Ratio Comparison
ZEQT.TO has a 0.18% expense ratio, which is higher than ZUCM.TO's 0.14% 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
ZEQT.TO vs. ZUCM.TO - Dividend Comparison
ZEQT.TO's dividend yield for the trailing twelve months is around 1.92%, less than ZUCM.TO's 3.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
ZEQT.TO BMO All-Equity ETF | 1.92% | 2.89% | 5.08% | 6.40% | 7.31% |
ZUCM.TO BMO USD Cash Management ETF | 3.71% | 4.19% | 4.88% | 1.40% | 0.00% |
Frequently Asked Questions
ZEQT.TO and ZUCM.TO have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZUCM.TO is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZUCM.TO is cheaper with a 0.14% expense ratio, compared with 0.18% for ZEQT.TO.
ZEQT.TO is categorized as Global Equities, while ZUCM.TO is Money Market. Their fees differ too: 0.18% for ZEQT.TO and 0.14% for ZUCM.TO.
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