ZFC.TO vs. ZMMK.TO
ZFC.TO (BMO SIA Focused Canadian Equity Fund) and ZMMK.TO (BMO Money Market Fund ETF Series) are both exchange-traded funds - ZFC.TO is a Canada Equities fund actively managed by BMO, while ZMMK.TO is a Money Market fund actively managed by BMO. Both are actively managed. Over the past 3 years, ZFC.TO returned 15.16%/yr vs 3.73%/yr for ZMMK.TO. Their 0.02 correlation means their historical movements had little consistent relationship. ZFC.TO charges 0.84%/yr vs 0.13%/yr for ZMMK.TO.
Performance
ZFC.TO vs. ZMMK.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZFC.TO achieves a 17.68% return, which is significantly higher than ZMMK.TO's 1.36% 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%
ZMMK.TO
- 1D
- 0.02%
- 1M
- 0.19%
- 6M
- 1.14%
- YTD
- 1.36%
- 1Y
- 2.46%
- 3Y*
- 3.73%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.42%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$17.49K | CA$19.26K | CA$37.47K | |
| CA$11.59M | CA$10.74M | CA$11.95M |
ZFC.TO vs. ZMMK.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ZFC.TO BMO SIA Focused Canadian Equity Fund | 17.68% | 13.10% | 15.48% | 6.00% | -3.79% | 3.11% |
ZMMK.TO BMO Money Market Fund ETF Series | 1.36% | 2.77% | 4.94% | 4.86% | 1.99% | 0.04% |
Correlation
The correlation between ZFC.TO and ZMMK.TO is -0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.02 |
Correlation (3Y) Balances recent behavior with more history. | -0.02 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2021 | 0.02 |
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Return for Risk
ZFC.TO vs. ZMMK.TO — Risk / Return Rank
ZFC.TO
ZMMK.TO
ZFC.TO vs. ZMMK.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO SIA Focused Canadian Equity Fund (ZFC.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.
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.TO | ZMMK.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.77 | ||
| Sortino ratioReturn per unit of downside risk | -20.45 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 5.33 | -4.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.49 | 61.66 | -58.17 |
| Martin ratioReturn relative to average drawdown | 10.59 | 350.85 | -340.26 |
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Drawdowns
ZFC.TO vs. ZMMK.TO - Drawdown Comparison
The maximum ZFC.TO drawdown since its inception was -27.50%, 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 ZFC.TO and ZMMK.TO.
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Drawdown Indicators
| ZFC.TO | ZMMK.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.50% | -0.16% | -27.34% |
Max Drawdown (1Y)Largest decline over 1 year | -8.12% | -0.04% | -8.08% |
Max Drawdown (3Y)Largest decline over 3 years | -14.98% | -0.08% | -14.90% |
Max Drawdown (5Y)Largest decline over 5 years | -14.98% | — | — |
Current DrawdownCurrent decline from peak | -3.90% | 0.00% | -3.90% |
Average DrawdownAverage peak-to-trough decline | -5.52% | 0.00% | -5.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.67% | 0.01% | +2.66% |
Volatility
ZFC.TO vs. ZMMK.TO - Volatility Comparison
BMO SIA Focused Canadian Equity Fund (ZFC.TO) has a higher volatility of 4.24% compared to BMO Money Market Fund ETF Series (ZMMK.TO) at 0.05%. This indicates that ZFC.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
| ZFC.TO | ZMMK.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.24% | 0.05% | +4.19% |
Volatility (6M)Calculated over the trailing 6-month period | 11.95% | 0.17% | +11.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.98% | 0.27% | +21.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.07% | 0.34% | +14.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.13% | 0.34% | +15.79% |
ZFC.TO vs. ZMMK.TO - Expense Ratio Comparison
ZFC.TO has a 0.84% expense ratio, which is higher than ZMMK.TO's 0.13% expense ratio.
Dividends
ZFC.TO vs. ZMMK.TO - Dividend Comparison
ZFC.TO's dividend yield for the trailing twelve months is around 0.13%, less than ZMMK.TO's 2.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
ZMMK.TO BMO Money Market Fund ETF Series | 2.45% | 3.02% | 4.66% | 4.98% | 1.95% | 0.04% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZFC.TO and ZMMK.TO have a correlation of -0.02, 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 0.84% for ZFC.TO.
ZFC.TO is categorized as Canada Equities, while ZMMK.TO is Money Market. Their fees differ too: 0.84% for ZFC.TO and 0.13% for ZMMK.TO.
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