ZESG.TO vs. HBIE.TO
ZESG.TO (BMO Balanced ESG ETF) and HBIE.TO (Harvest Balanced Income & Growth Enhanced ETF) are both Diversified Portfolio funds. Both are actively managed. Over the past year, ZESG.TO returned -61.68% vs 14.65% for HBIE.TO. A 0.52 correlation means they provide meaningful diversification when combined.
Performance
ZESG.TO vs. HBIE.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZESG.TO achieves a 6.35% return, which is significantly lower than HBIE.TO's 6.74% return.
ZESG.TO
- 1D
- -0.87%
- 1M
- -0.18%
- 6M
- 4.14%
- YTD
- 6.35%
- 1Y
- -61.68%
- 3Y*
- -21.06%
- 5Y*
- -13.29%
- 10Y*
- —
HBIE.TO
- 1D
- 0.00%
- 1M
- -0.20%
- 6M
- 5.76%
- YTD
- 6.74%
- 1Y
- 14.65%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZESG.TO vs. HBIE.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ZESG.TO BMO Balanced ESG ETF | 6.35% | -62.39% | 11.26% |
HBIE.TO Harvest Balanced Income & Growth Enhanced ETF | 6.74% | 10.30% | 6.94% |
Correlation
The correlation between ZESG.TO and HBIE.TO is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2024 | 0.52 |
The correlation between ZESG.TO and HBIE.TO shifts across timeframes, from 0.52 (all time) to 0.69 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ZESG.TO vs. HBIE.TO — Risk / Return Rank
ZESG.TO
HBIE.TO
ZESG.TO vs. HBIE.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Balanced ESG ETF (ZESG.TO) and Harvest Balanced Income & Growth Enhanced ETF (HBIE.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.
| ZESG.TO | HBIE.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.81 | ||
| Sortino ratioReturn per unit of downside risk | +0.72 | ||
| Omega ratioGain probability vs. loss probability | 2.28 | 1.31 | +0.96 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | 2.81 | -3.73 |
| Martin ratioReturn relative to average drawdown | -0.97 | 11.90 | -12.87 |
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Drawdowns
ZESG.TO vs. HBIE.TO - Drawdown Comparison
The maximum ZESG.TO drawdown since its inception was -66.88%, which is greater than HBIE.TO's maximum drawdown of -10.29%. Use the drawdown chart below to compare losses from any high point for ZESG.TO and HBIE.TO.
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Drawdown Indicators
| ZESG.TO | HBIE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.88% | -10.29% | -56.59% |
Max Drawdown (1Y)Largest decline over 1 year | -66.88% | -5.24% | -61.64% |
Max Drawdown (3Y)Largest decline over 3 years | -66.88% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -66.88% | — | — |
Current DrawdownCurrent decline from peak | -62.02% | -1.27% | -60.75% |
Average DrawdownAverage peak-to-trough decline | -13.68% | -1.75% | -11.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 63.40% | 1.23% | +62.17% |
Volatility
ZESG.TO vs. HBIE.TO - Volatility Comparison
The current volatility for BMO Balanced ESG ETF (ZESG.TO) is 2.06%, while Harvest Balanced Income & Growth Enhanced ETF (HBIE.TO) has a volatility of 2.60%. This indicates that ZESG.TO experiences smaller price fluctuations and is considered to be less risky than HBIE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZESG.TO | HBIE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.06% | 2.60% | -0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 6.50% | 7.51% | -1.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 425.88% | 8.84% | +417.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 191.01% | 9.65% | +181.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 167.83% | 9.65% | +158.18% |
Dividends
ZESG.TO vs. HBIE.TO - Dividend Comparison
ZESG.TO's dividend yield for the trailing twelve months is around 1.74%, less than HBIE.TO's 9.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
HBIE.TO Harvest Balanced Income & Growth Enhanced ETF | 9.98% | 10.12% | 7.56% | 0.00% | 0.00% | 0.00% | 0.00% |
ZESG.TO BMO Balanced ESG ETF | 1.74% | 3.40% | 1.89% | 2.22% | 2.53% | 2.05% | 2.27% |
Frequently Asked Questions
ZESG.TO and HBIE.TO have a correlation of 0.69, 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 Harvest.
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