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

ZFN.TO vs. FLVC.NEO

Last updated Aug 4, 2026
Documentation

ZFN.TO (BMO SIA Focused North American Equity Fund) and FLVC.NEO (Franklin Canadian Low Volatility High Dividend Index ETF) are both Canada Equities funds. ZFN.TO is actively managed, while FLVC.NEO is passively managed. Over the past year, ZFN.TO returned 13.73% vs 36.38% for FLVC.NEO. Their 0.20 correlation means their historical movements had little consistent relationship. ZFN.TO charges 0.80%/yr vs 0.15%/yr for FLVC.NEO.

Performance

ZFN.TO vs. FLVC.NEO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO SIA Focused North American Equity Fund (ZFN.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, ZFN.TO achieves a 1.20% return, which is significantly lower than FLVC.NEO's 21.78% return.

ZFN.TO

1D
0.61%
1M
-3.74%
6M
-1.91%
YTD
1.20%
1Y
13.73%
3Y*
15.87%
5Y*
12.50%
10Y*
—
ALL TIME*
11.09%

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

ZFN.TO

BMO SIA Focused North American Equity Fund
CA$170.59KCA$152.77KCA$257.53K

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

2026 (YTD)20252024
ZFN.TO
BMO SIA Focused North American Equity Fund		1.20%12.52%16.24%
FLVC.NEO
Franklin Canadian Low Volatility High Dividend Index ETF		21.78%21.15%13.79%

Correlation

The correlation between ZFN.TO and FLVC.NEO is 0.21, which is low. Their historical price movements had little consistent relationship.

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

0.21

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

0.20

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

Sectors
ZFN.TO
FLVC.NEO

Financial Services

32.5%
43.0%

Technology

21.7%
2.0%

Industrials

19.5%
13.7%

Energy

18.2%
8.8%

Healthcare

13.8%

-

Utilities

6.3%
10.8%

Communication Services

6.3%
7.5%

Basic Materials

-

0.4%

Consumer Cyclical

-

7.0%

Consumer Defensive

-

6.9%

Real Estate

-

-

Financial Services

ZFN.TO
32.5%
FLVC.NEO
43.0%

Technology

ZFN.TO
21.7%
FLVC.NEO
2.0%

Industrials

ZFN.TO
19.5%
FLVC.NEO
13.7%

Energy

ZFN.TO
18.2%
FLVC.NEO
8.8%

Healthcare

ZFN.TO
13.8%
FLVC.NEO

-

Utilities

ZFN.TO
6.3%
FLVC.NEO
10.8%

Communication Services

ZFN.TO
6.3%
FLVC.NEO
7.5%

Basic Materials

ZFN.TO

-

FLVC.NEO
0.4%

Consumer Cyclical

ZFN.TO

-

FLVC.NEO
7.0%

Consumer Defensive

ZFN.TO

-

FLVC.NEO
6.9%

Real Estate

ZFN.TO

-

FLVC.NEO

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

BMO SIA Focused North American Equity Fund

Franklin Canadian Low Volatility High Dividend Index ETF

Often compared with ZFN.TO:
ZFN.TO vs. VFV.TOZFN.TO vs. L.TOZFN.TO vs. FTN.TOZFN.TO vs. FFN.TOZFN.TO vs. BANK.TOZFN.TO vs. HTAE.TOZFN.TO vs. ZEB.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

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

Compare historical risk-adjusted metric ranks over the past 12 months.
ZFN.TO
ZFN.TO Risk / Return Rank: 2424
Overall Rank
ZFN.TO Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
ZFN.TO Sortino Ratio Rank: 2424
Sortino Ratio Rank
ZFN.TO Omega Ratio Rank: 2525
Omega Ratio Rank
ZFN.TO Calmar Ratio Rank: 2424
Calmar Ratio Rank
ZFN.TO Martin Ratio Rank: 2323
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.

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

This table presents a comparison of risk-adjusted performance metrics for BMO SIA Focused North American Equity Fund (ZFN.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.

ZFN.TOFLVC.NEODifference
Sharpe ratioReturn per unit of total volatility
0.55
5.06

-4.51

Sortino ratioReturn per unit of downside risk
0.92
7.66

-6.75

Omega ratioGain probability vs. loss probability

1.12

2.02

-0.90

Calmar ratioReturn relative to maximum drawdown

0.76

12.45

-11.69

Martin ratioReturn relative to average drawdown

1.75

55.03

-53.28

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

The current ZFN.TO Sharpe Ratio is 0.55, which is lower than the FLVC.NEO Sharpe Ratio of 5.06. The chart below compares the historical Sharpe Ratios of ZFN.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

ZFN.TO vs. FLVC.NEO - Drawdown Comparison

The maximum ZFN.TO drawdown since its inception was -21.64%, 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 ZFN.TO and FLVC.NEO.

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Drawdown Indicators

ZFN.TOFLVC.NEODifference

Max Drawdown

Largest peak-to-trough decline

-21.64%

-7.89%

-13.75%

Max Drawdown (1Y)

Largest decline over 1 year

-15.99%

-3.21%

-12.78%

Max Drawdown (3Y)

Largest decline over 3 years

-17.33%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-17.33%

—

—

Current Drawdown

Current decline from peak

-6.81%

-0.50%

-6.31%

Average Drawdown

Average peak-to-trough decline

-5.01%

-0.80%

-4.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.92%

0.71%

+6.21%

Volatility

ZFN.TO vs. FLVC.NEO - Volatility Comparison

BMO SIA Focused North American Equity Fund (ZFN.TO) has a higher volatility of 5.27% compared to Franklin Canadian Low Volatility High Dividend Index ETF (FLVC.NEO) at 2.84%. This indicates that ZFN.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

ZFN.TOFLVC.NEODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.27%

2.84%

+2.43%

Volatility (6M)

Calculated over the trailing 6-month period

14.94%

5.74%

+9.20%

Volatility (1Y)

Calculated over the trailing 1-year period

22.26%

7.91%

+14.35%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.50%

11.38%

+4.12%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.44%

11.38%

+5.06%

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

ZFN.TO has a 0.80% expense ratio, which is higher than FLVC.NEO's 0.15% expense ratio.

Dividends

ZFN.TO vs. FLVC.NEO - Dividend Comparison

ZFN.TO's dividend yield for the trailing twelve months is around 0.49%, 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%
ZFN.TO
BMO SIA Focused North American Equity Fund		0.49%0.50%0.90%0.97%2.37%0.69%0.59%0.37%0.03%

Frequently Asked Questions

ZFN.TO and FLVC.NEO have a correlation of 0.21, 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 0.80% for ZFN.TO.

They also come from different issuers: BMO and Franklin Templeton. Their fees differ too: 0.80% for ZFN.TO and 0.15% for FLVC.NEO.

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