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ZESG.TO vs. ZLB.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ZESG.TO vs. ZLB.TO

Last updated Apr 1, 2026

Compare and contrast key facts about BMO Balanced ESG ETF (ZESG.TO) and BMO Low Volatility Canadian Equity ETF (ZLB.TO).

ZESG.TO and ZLB.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZESG.TO is an actively managed fund by BMO. It was launched on Jan 15, 2020. ZLB.TO is an actively managed fund by BMO. It was launched on Oct 21, 2011.

Performance

ZESG.TO vs. ZLB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Balanced ESG ETF (ZESG.TO) and BMO Low Volatility Canadian Equity ETF (ZLB.TO). The values are adjusted to include any dividend payments, if applicable.

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ZESG.TO vs. ZLB.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
ZESG.TO
BMO Balanced ESG ETF		-1.73%12.26%16.70%15.27%-13.70%13.20%-100.00%
ZLB.TO
BMO Low Volatility Canadian Equity ETF		1.42%20.31%15.20%9.29%-0.46%22.81%-2.44%

Returns By Period

In the year-to-date period, ZESG.TO achieves a -1.73% return, which is significantly lower than ZLB.TO's 1.42% return.

ZESG.TO

1D
1.70%
1M
-3.57%
YTD
-1.73%
6M
-0.25%
1Y
11.23%
3Y*
11.96%
5Y*
7.37%
10Y*
—

ZLB.TO

1D
1.23%
1M
-2.74%
YTD
1.42%
6M
2.74%
1Y
15.44%
3Y*
12.86%
5Y*
11.57%
10Y*
10.13%
*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 Balanced ESG ETF

BMO Low Volatility Canadian Equity ETF

Often compared with ZESG.TO:
ZESG.TO vs. PYF.TOZESG.TO vs. TCON.TOZESG.TO vs. VBAL.TOZESG.TO vs. HBAL.TOZESG.TO vs. MIX.TOZESG.TO vs. XTR.TOZESG.TO vs. XBAL.TO
Often compared with ZLB.TO:
ZLB.TO vs. VDY.TOZLB.TO vs. XIU.TOZLB.TO vs. XDIV.TOZLB.TO vs. XMW.TOZLB.TO vs. XBAL.TOZLB.TO vs. XUT.TOZLB.TO vs. XUU-U.TO

ZESG.TO vs. ZLB.TO - Expense Ratio Comparison

ZESG.TO has a 0.18% expense ratio, which is lower than ZLB.TO's 0.39% expense ratio.

ZLB.TO
BMO Low Volatility Canadian Equity ETF
ZESG.TO
BMO Balanced ESG ETF

Return for Risk

ZESG.TO vs. ZLB.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZESG.TO
ZESG.TO Risk / Return Rank: 6262
Overall Rank
ZESG.TO Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
ZESG.TO Sortino Ratio Rank: 6767
Sortino Ratio Rank
ZESG.TO Omega Ratio Rank: 6262
Omega Ratio Rank
ZESG.TO Calmar Ratio Rank: 5454
Calmar Ratio Rank
ZESG.TO Martin Ratio Rank: 5656
Martin Ratio Rank
ZLB.TO
ZLB.TO Risk / Return Rank: 8282
Overall Rank
ZLB.TO Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
ZLB.TO Sortino Ratio Rank: 8080
Sortino Ratio Rank
ZLB.TO Omega Ratio Rank: 8181
Omega Ratio Rank
ZLB.TO Calmar Ratio Rank: 8787
Calmar Ratio Rank
ZLB.TO Martin Ratio Rank: 8282
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.

ZESG.TO vs. ZLB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Balanced ESG ETF (ZESG.TO) and BMO Low Volatility Canadian Equity ETF (ZLB.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.

ZESG.TOZLB.TODifference

Sharpe ratio

Return per unit of total volatility

1.24

1.48

-0.24

Sortino ratio

Return per unit of downside risk

1.72

1.99

-0.27

Omega ratio

Gain probability vs. loss probability

1.24

1.30

-0.06

Calmar ratio

Return relative to maximum drawdown

1.41

2.57

-1.16

Martin ratio

Return relative to average drawdown

5.61

8.71

-3.09

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

ZESG.TO vs. ZLB.TO - Sharpe Ratio Comparison

The current ZESG.TO Sharpe Ratio is 1.24, which is comparable to the ZLB.TO Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of ZESG.TO and ZLB.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.

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Sharpe Ratios by Period

ZESG.TOZLB.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.24

1.48

-0.24

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.84

1.22

-0.38

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.84

—

Sharpe Ratio (All Time)

Calculated using the full available price history

-1.93

1.12

-3.05

Correlation

The correlation between ZESG.TO and ZLB.TO is 0.40, 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

ZESG.TO vs. ZLB.TO - Dividend Comparison

ZESG.TO's dividend yield for the trailing twelve months is around 1.78%, less than ZLB.TO's 1.92% yield.

TTM20252024202320222021202020192018201720162015
ZESG.TO
BMO Balanced ESG ETF		1.78%1.71%1.89%2.22%2.53%2.05%2.27%0.00%0.00%0.00%0.00%0.00%
ZLB.TO
BMO Low Volatility Canadian Equity ETF		1.92%1.93%2.28%2.56%2.56%2.29%2.72%2.34%2.65%2.42%2.82%2.25%

Drawdowns

ZESG.TO vs. ZLB.TO - Drawdown Comparison

The maximum ZESG.TO drawdown since its inception was -100.00%, which is greater than ZLB.TO's maximum drawdown of -33.96%. Use the drawdown chart below to compare losses from any high point for ZESG.TO and ZLB.TO.

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Drawdown Indicators

ZESG.TOZLB.TODifference

Max Drawdown

Largest peak-to-trough decline

-100.00%

-33.96%

-66.04%

Max Drawdown (1Y)

Largest decline over 1 year

-7.18%

-6.53%

-0.65%

Max Drawdown (5Y)

Largest decline over 5 years

-18.81%

-13.04%

-5.77%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.96%

—

Current Drawdown

Current decline from peak

-100.00%

-3.08%

-96.92%

Average Drawdown

Average peak-to-trough decline

-99.93%

-2.51%

-97.42%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.81%

1.93%

-0.12%

Volatility

ZESG.TO vs. ZLB.TO - Volatility Comparison

BMO Balanced ESG ETF (ZESG.TO) and BMO Low Volatility Canadian Equity ETF (ZLB.TO) have volatilities of 3.65% and 3.64%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZESG.TOZLB.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.65%

3.64%

+0.01%

Volatility (6M)

Calculated over the trailing 6-month period

6.28%

7.64%

-1.36%

Volatility (1Y)

Calculated over the trailing 1-year period

9.13%

10.52%

-1.39%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.85%

9.57%

-0.72%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

41.49%

12.19%

+29.30%