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ZFC.TO vs. FLVC.NEO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZFC.TO vs. FLVC.NEO

Last updated Aug 4, 2026
Documentation

ZFC.TO (BMO SIA Focused Canadian Equity Fund) and FLVC.NEO (Franklin Canadian Low Volatility High Dividend Index ETF) are both Canada Equities funds. ZFC.TO is actively managed, while FLVC.NEO is passively managed. Over the past year, ZFC.TO returned 29.30% vs 36.38% for FLVC.NEO. Their 0.17 correlation means their historical movements had little consistent relationship. ZFC.TO charges 0.84%/yr vs 0.15%/yr for FLVC.NEO.

Performance

ZFC.TO vs. FLVC.NEO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO SIA Focused Canadian Equity Fund (ZFC.TO) and Franklin Canadian Low Volatility High Dividend Index ETF (FLVC.NEO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ZFC.TO achieves a 17.68% return, which is significantly lower than FLVC.NEO's 21.78% return.

ZFC.TO

1D
1.04%
1M
-1.02%
6M
14.33%
YTD
17.68%
1Y
29.30%
3Y*
15.16%
5Y*
10.74%
10Y*
—
ALL TIME*
10.54%

FLVC.NEO

1D
0.33%
1M
3.35%
6M
21.86%
YTD
21.78%
1Y
36.38%
3Y*
—
5Y*
—
10Y*
—
ALL TIME*
24.74%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

FLVC.NEO

Franklin Canadian Low Volatility High Dividend Index ETF
CA$134.83KCA$145.15KCA$488.47K

ZFC.TO

BMO SIA Focused Canadian Equity Fund
CA$17.49KCA$19.26KCA$37.47K

ZFC.TO vs. FLVC.NEO - Yearly Performance Comparison

2026 (YTD)20252024
ZFC.TO
BMO SIA Focused Canadian Equity Fund		17.68%13.10%7.70%
FLVC.NEO
Franklin Canadian Low Volatility High Dividend Index ETF		21.78%21.15%13.79%

Correlation

The correlation between ZFC.TO and FLVC.NEO is 0.14, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.14

Correlation (All Time)
Calculated using the full available price history since Mar 27, 2024

0.17

ZFC.TO vs. FLVC.NEO - Sectors Allocation Comparison

Sectors
ZFC.TO
FLVC.NEO

Financial Services

31.4%
43.0%

Industrials

30.5%
13.7%

Energy

21.4%
8.8%

Utilities

11.5%
10.8%

Technology

8.6%
2.0%

Consumer Cyclical

8.1%
7.0%

Basic Materials

-

0.4%

Communication Services

-

7.5%

Consumer Defensive

-

6.9%

Healthcare

-

-

Real Estate

-

-

Financial Services

ZFC.TO
31.4%
FLVC.NEO
43.0%

Industrials

ZFC.TO
30.5%
FLVC.NEO
13.7%

Energy

ZFC.TO
21.4%
FLVC.NEO
8.8%

Utilities

ZFC.TO
11.5%
FLVC.NEO
10.8%

Technology

ZFC.TO
8.6%
FLVC.NEO
2.0%

Consumer Cyclical

ZFC.TO
8.1%
FLVC.NEO
7.0%

Basic Materials

ZFC.TO

-

FLVC.NEO
0.4%

Communication Services

ZFC.TO

-

FLVC.NEO
7.5%

Consumer Defensive

ZFC.TO

-

FLVC.NEO
6.9%

Healthcare

ZFC.TO

-

FLVC.NEO

-

Real Estate

ZFC.TO

-

FLVC.NEO

-

Compare stocks, funds, or ETFs

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BMO SIA Focused Canadian Equity Fund

Franklin Canadian Low Volatility High Dividend Index ETF

Often compared with ZFC.TO:
ZFC.TO vs. VGKZFC.TO vs. VDY.TOZFC.TO vs. WXM.TOZFC.TO vs. TDZFC.TO vs. ZFN.TOZFC.TO vs. FCMO.NEOZFC.TO vs. VMO.TO
Often compared with FLVC.NEO:
FLVC.NEO vs. FCRI.TOFLVC.NEO vs. XCV.TOFLVC.NEO vs. FLVI.NEOFLVC.NEO vs. QCE.TOFLVC.NEO vs. QCN.TOFLVC.NEO vs. CBNK.TOFLVC.NEO vs. FCMI.TO

Return for Risk

ZFC.TO vs. FLVC.NEO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
ZFC.TO
ZFC.TO Risk / Return Rank: 6262
Overall Rank
ZFC.TO Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
ZFC.TO Sortino Ratio Rank: 4444
Sortino Ratio Rank
ZFC.TO Omega Ratio Rank: 5858
Omega Ratio Rank
ZFC.TO Calmar Ratio Rank: 8585
Calmar Ratio Rank
ZFC.TO Martin Ratio Rank: 7676
Martin Ratio Rank
FLVC.NEO
FLVC.NEO Risk / Return Rank: 9898
Overall Rank
FLVC.NEO Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
FLVC.NEO Sortino Ratio Rank: 9898
Sortino Ratio Rank
FLVC.NEO Omega Ratio Rank: 9898
Omega Ratio Rank
FLVC.NEO Calmar Ratio Rank: 9898
Calmar Ratio Rank
FLVC.NEO Martin Ratio Rank: 9898
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ZFC.TO vs. FLVC.NEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO SIA Focused Canadian Equity Fund (ZFC.TO) and Franklin Canadian Low Volatility High Dividend Index ETF (FLVC.NEO). 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.

ZFC.TOFLVC.NEODifference
Sharpe ratioReturn per unit of total volatility
1.29
5.06

-3.77

Sortino ratioReturn per unit of downside risk
1.75
7.66

-5.91

Omega ratioGain probability vs. loss probability

1.28

2.02

-0.74

Calmar ratioReturn relative to maximum drawdown

3.49

12.45

-8.97

Martin ratioReturn relative to average drawdown

10.59

55.03

-44.45

ZFC.TO vs. FLVC.NEO - Sharpe Ratio Comparison

The current ZFC.TO Sharpe Ratio is 1.29, which is lower than the FLVC.NEO Sharpe Ratio of 5.06. The chart below compares the historical Sharpe Ratios of ZFC.TO and FLVC.NEO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

ZFC.TO vs. FLVC.NEO - Drawdown Comparison

The maximum ZFC.TO drawdown since its inception was -27.50%, which is greater than FLVC.NEO's maximum drawdown of -7.89%. Use the drawdown chart below to compare losses from any high point for ZFC.TO and FLVC.NEO.

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Drawdown Indicators

ZFC.TOFLVC.NEODifference

Max Drawdown

Largest peak-to-trough decline

-27.50%

-7.89%

-19.61%

Max Drawdown (1Y)

Largest decline over 1 year

-8.12%

-3.21%

-4.91%

Max Drawdown (3Y)

Largest decline over 3 years

-14.98%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-14.98%

—

—

Current Drawdown

Current decline from peak

-3.90%

-0.50%

-3.40%

Average Drawdown

Average peak-to-trough decline

-5.52%

-0.80%

-4.72%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.67%

0.71%

+1.96%

Volatility

ZFC.TO vs. FLVC.NEO - Volatility Comparison

BMO SIA Focused Canadian Equity Fund (ZFC.TO) has a higher volatility of 4.24% compared to Franklin Canadian Low Volatility High Dividend Index ETF (FLVC.NEO) at 2.84%. This indicates that ZFC.TO's price experiences larger fluctuations and is considered to be riskier than FLVC.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZFC.TOFLVC.NEODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.24%

2.84%

+1.40%

Volatility (6M)

Calculated over the trailing 6-month period

11.95%

5.74%

+6.21%

Volatility (1Y)

Calculated over the trailing 1-year period

21.98%

7.91%

+14.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.07%

11.38%

+3.69%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.13%

11.38%

+4.75%

ZFC.TO vs. FLVC.NEO - Expense Ratio Comparison

ZFC.TO has a 0.84% expense ratio, which is higher than FLVC.NEO's 0.15% expense ratio.

Dividends

ZFC.TO vs. FLVC.NEO - Dividend Comparison

ZFC.TO's dividend yield for the trailing twelve months is around 0.13%, less than FLVC.NEO's 4.70% yield.

PositionTTM20252024202320222021202020192018
FLVC.NEO
Franklin Canadian Low Volatility High Dividend Index ETF		4.70%4.96%0.95%0.00%0.00%0.00%0.00%0.00%0.00%
ZFC.TO
BMO SIA Focused Canadian Equity Fund		0.13%0.15%0.04%0.54%2.54%0.94%1.81%0.51%0.03%

Frequently Asked Questions

ZFC.TO and FLVC.NEO 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, FLVC.NEO is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

FLVC.NEO is cheaper with a 0.15% expense ratio, compared with 0.84% for ZFC.TO.

They also come from different issuers: BMO and Franklin Templeton. Their fees differ too: 0.84% for ZFC.TO and 0.15% for FLVC.NEO.

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