ZGI.TO vs. AVDVX

Last updated Jun 25, 2026

ZGI.TO (BMO Global Infrastructure Index ETF) and AVDVX (Avantis International Small Cap Value Fund) are both funds - ZGI.TO is a Industrials Equities fund tracking the Dow Jones Brookfield Global Infrastructure North American Listed Index, while AVDVX is a Foreign Small & Mid Cap Equities fund managed by Avantis Investors. Over the past 5 years, ZGI.TO returned 11.46%/yr vs 17.07%/yr for AVDVX. At a 0.30 correlation, their price movements are largely independent. ZGI.TO charges 0.61%/yr vs 0.36%/yr for AVDVX.

Performance

ZGI.TO vs. AVDVX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Global Infrastructure Index ETF (ZGI.TO) and Avantis International Small Cap Value Fund (AVDVX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ZGI.TO is traded in CAD, while AVDVX is traded in USD. To make them comparable, the AVDVX values have been converted to CAD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with ZGI.TO having a 17.94% return and AVDVX slightly lower at 17.10%.

ZGI.TO

• 1D: 0.18%
• 1M: 0.23%
• YTD: 17.94%
• 6M: 16.00%
• 1Y: 16.82%
• 3Y*: 16.93%
• 5Y*: 11.46%
• 10Y*: 9.12%

AVDVX

• 1D: -2.84%
• 1M: 0.71%
• YTD: 17.10%
• 6M: 16.61%
• 1Y: 43.67%
• 3Y*: 30.18%
• 5Y*: 17.07%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ZGI.TO vs. AVDVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ZGI.TO BMO Global Infrastructure Index ETF	17.94%	1.01%	25.45%	-0.64%	4.56%	26.89%	-10.43%	3.99%
AVDVX Avantis International Small Cap Value Fund	17.10%	41.47%	17.59%	13.97%	-5.23%	15.40%	3.15%	3.77%

Correlation

The correlation between ZGI.TO and AVDVX is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (All Time) Calculated using the full available price history since Dec 4, 2019	0.30

Over the past year, the correlation between ZGI.TO and AVDVX has dropped to 0.03 - well below their long-term average of 0.30, suggesting their price drivers have been diverging.

Return for Risk

ZGI.TO vs. AVDVX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ZGI.TO

ZGI.TO Risk / Return Rank: 46
ZGI.TO Sharpe Ratio Rank: 44
ZGI.TO Sortino Ratio Rank: 43
ZGI.TO Omega Ratio Rank: 41
ZGI.TO Calmar Ratio Rank: 59
ZGI.TO Martin Ratio Rank: 47

AVDVX

AVDVX Risk / Return Rank: 75
AVDVX Sharpe Ratio Rank: 84
AVDVX Sortino Ratio Rank: 76
AVDVX Omega Ratio Rank: 76
AVDVX Calmar Ratio Rank: 72
AVDVX Martin Ratio Rank: 68

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.

ZGI.TO vs. AVDVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Global Infrastructure Index ETF (ZGI.TO) and Avantis International Small Cap Value Fund (AVDVX). 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.

	ZGI.TO	AVDVX	Difference
Sharpe ratio: Return per unit of total volatility	1.37	2.75	-1.37
Sortino ratio: Return per unit of downside risk	1.96	3.60	-1.64
Omega ratio: Gain probability vs. loss probability	1.24	1.47	-0.23
Calmar ratio: Return relative to maximum drawdown	2.54	3.58	-1.04
Martin ratio: Return relative to average drawdown	7.00	14.36	-7.36

ZGI.TO vs. AVDVX - Sharpe Ratio Comparison

The current ZGI.TO Sharpe Ratio is 1.37, which is lower than the AVDVX Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of ZGI.TO and AVDVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ZGI.TO vs. AVDVX - Drawdown Comparison

The maximum ZGI.TO drawdown since its inception was -34.76%, smaller than the maximum AVDVX drawdown of -36.65%. Use the drawdown chart below to compare losses from any high point for ZGI.TO and AVDVX.

Drawdown Indicators

	ZGI.TO	AVDVX	Difference
Max Drawdown Largest peak-to-trough decline	-34.76%	-36.65%	+1.89%
Max Drawdown (1Y) Largest decline over 1 year	-6.65%	-12.54%	+5.89%
Max Drawdown (3Y) Largest decline over 3 years	-10.07%	-14.19%	+4.12%
Max Drawdown (5Y) Largest decline over 5 years	-16.61%	-21.65%	+5.04%
Max Drawdown (10Y) Largest decline over 10 years	-34.76%	—	—
Current Drawdown Current decline from peak	0.00%	-2.84%	+2.84%
Average Drawdown Average peak-to-trough decline	-4.36%	-4.92%	+0.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.41%	3.12%	-0.71%

Volatility

ZGI.TO vs. AVDVX - Volatility Comparison

The current volatility for BMO Global Infrastructure Index ETF (ZGI.TO) is 4.12%, while Avantis International Small Cap Value Fund (AVDVX) has a volatility of 6.64%. This indicates that ZGI.TO experiences smaller price fluctuations and is considered to be less risky than AVDVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZGI.TO	AVDVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.12%	6.64%	-2.52%
Volatility (6M) Calculated over the trailing 6-month period	9.90%	13.96%	-4.06%
Volatility (1Y) Calculated over the trailing 1-year period	12.32%	16.37%	-4.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.30%	17.67%	-4.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.96%	20.13%	-4.17%

ZGI.TO vs. AVDVX - Expense Ratio Comparison

ZGI.TO has a 0.61% expense ratio, which is higher than AVDVX's 0.36% expense ratio.

Dividends

ZGI.TO vs. AVDVX - Dividend Comparison

ZGI.TO's dividend yield for the trailing twelve months is around 2.27%, less than AVDVX's 9.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVDVX Avantis International Small Cap Value Fund	9.25%	10.48%	4.35%	3.52%	3.33%	4.23%	1.35%	0.39%	0.00%	0.00%	0.00%	0.00%
ZGI.TO BMO Global Infrastructure Index ETF	2.27%	2.77%	2.82%	3.33%	3.01%	3.06%	3.75%	2.85%	2.99%	2.59%	3.29%	2.97%

Frequently Asked Questions

Can I hold both ZGI.TO and AVDVX in my portfolio?

ZGI.TO and AVDVX have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.