ZGI.TO vs. XGI.TO
ZGI.TO (BMO Global Infrastructure Index ETF) and XGI.TO (iShares S&P Global Industrials Index ETF (CAD-Hedged)) are both Industrials Equities funds - ZGI.TO tracks the Dow Jones Brookfield Global Infrastructure North American Listed Index while XGI.TO tracks the Morningstar Gbl GR CAD. Both are passively managed. Over the past 10 years, ZGI.TO returned 8.52%/yr vs 11.88%/yr for XGI.TO. At a 0.23 correlation, their price movements are largely independent. ZGI.TO charges 0.61%/yr vs 0.68%/yr for XGI.TO.
Performance
ZGI.TO vs. XGI.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZGI.TO achieves a 17.33% return, which is significantly higher than XGI.TO's 12.09% return. Over the past 10 years, ZGI.TO has underperformed XGI.TO with an annualized return of 8.52%, while XGI.TO has yielded a comparatively higher 11.88% annualized return.
ZGI.TO
- 1D
- -1.04%
- 1M
- 1.47%
- 6M
- 15.40%
- YTD
- 17.33%
- 1Y
- 17.58%
- 3Y*
- 15.07%
- 5Y*
- 10.65%
- 10Y*
- 8.52%
XGI.TO
- 1D
- 0.04%
- 1M
- 0.73%
- 6M
- 6.74%
- YTD
- 12.09%
- 1Y
- 20.43%
- 3Y*
- 18.69%
- 5Y*
- 12.46%
- 10Y*
- 11.88%
ZGI.TO vs. XGI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZGI.TO BMO Global Infrastructure Index ETF | 17.33% | 1.01% | 25.45% | -0.64% | 4.56% | 26.89% | -10.43% | 25.26% | -0.75% | 2.97% |
XGI.TO iShares S&P Global Industrials Index ETF (CAD-Hedged) | 12.09% | 20.93% | 16.18% | 21.83% | -8.79% | 14.92% | 4.64% | 26.41% | -11.83% | 20.23% |
Correlation
The correlation between ZGI.TO and XGI.TO is 0.00, 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 | 0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2013 | 0.23 |
Over the past year, the correlation between ZGI.TO and XGI.TO has dropped to 0.00 - well below their long-term average of 0.23, suggesting their price drivers have been diverging.
ZGI.TO vs. XGI.TO - Sectors Allocation Comparison
Sectors
ZGI.TO
XGI.TO
Energy
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Utilities
Real Estate
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Industrials
Basic Materials
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Communication Services
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Consumer Cyclical
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Consumer Defensive
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Financial Services
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Healthcare
-
-
Technology
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Energy
ZGI.TO
XGI.TO
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Utilities
ZGI.TO
XGI.TO
Real Estate
ZGI.TO
XGI.TO
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Industrials
ZGI.TO
XGI.TO
Basic Materials
ZGI.TO
-
XGI.TO
Communication Services
ZGI.TO
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XGI.TO
Consumer Cyclical
ZGI.TO
-
XGI.TO
Consumer Defensive
ZGI.TO
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XGI.TO
Financial Services
ZGI.TO
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XGI.TO
Healthcare
ZGI.TO
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XGI.TO
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Technology
ZGI.TO
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XGI.TO
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Return for Risk
ZGI.TO vs. XGI.TO — Risk / Return Rank
ZGI.TO
XGI.TO
ZGI.TO vs. XGI.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Global Infrastructure Index ETF (ZGI.TO) and iShares S&P Global Industrials Index ETF (CAD-Hedged) (XGI.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.
| ZGI.TO | XGI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.25 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.66 | 1.75 | +0.91 |
| Martin ratioReturn relative to average drawdown | 7.31 | 6.87 | +0.43 |
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Drawdowns
ZGI.TO vs. XGI.TO - Drawdown Comparison
The maximum ZGI.TO drawdown since its inception was -34.76%, smaller than the maximum XGI.TO drawdown of -42.61%. Use the drawdown chart below to compare losses from any high point for ZGI.TO and XGI.TO.
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Drawdown Indicators
| ZGI.TO | XGI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.76% | -42.61% | +7.85% |
Max Drawdown (1Y)Largest decline over 1 year | -6.65% | -11.74% | +5.09% |
Max Drawdown (3Y)Largest decline over 3 years | -10.07% | -16.14% | +6.07% |
Max Drawdown (5Y)Largest decline over 5 years | -16.61% | -24.78% | +8.17% |
Max Drawdown (10Y)Largest decline over 10 years | -34.76% | -42.61% | +7.85% |
Current DrawdownCurrent decline from peak | -1.65% | -4.05% | +2.40% |
Average DrawdownAverage peak-to-trough decline | -4.37% | -5.75% | +1.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.41% | 2.98% | -0.57% |
Volatility
ZGI.TO vs. XGI.TO - Volatility Comparison
The current volatility for BMO Global Infrastructure Index ETF (ZGI.TO) is 4.39%, while iShares S&P Global Industrials Index ETF (CAD-Hedged) (XGI.TO) has a volatility of 5.21%. This indicates that ZGI.TO experiences smaller price fluctuations and is considered to be less risky than XGI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZGI.TO | XGI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.39% | 5.21% | -0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 10.19% | 13.62% | -3.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.70% | 15.66% | -2.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.39% | 17.24% | -3.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.98% | 23.99% | -8.01% |
ZGI.TO vs. XGI.TO - Expense Ratio Comparison
ZGI.TO has a 0.61% expense ratio, which is lower than XGI.TO's 0.68% expense ratio.
Dividends
ZGI.TO vs. XGI.TO - Dividend Comparison
ZGI.TO's dividend yield for the trailing twelve months is around 2.25%, more than XGI.TO's 1.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XGI.TO iShares S&P Global Industrials Index ETF (CAD-Hedged) | 1.24% | 1.54% | 2.69% | 1.24% | 1.34% | 0.91% | 0.96% | 1.30% | 1.88% | 1.15% | 1.39% | 1.46% |
ZGI.TO BMO Global Infrastructure Index ETF | 2.25% | 2.77% | 2.82% | 3.33% | 3.01% | 3.06% | 3.75% | 2.85% | 2.99% | 2.59% | 2.60% | 2.97% |
Frequently Asked Questions
ZGI.TO and XGI.TO have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZGI.TO is cheaper at 0.61% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZGI.TO is cheaper with a 0.61% expense ratio, compared with 0.68% for XGI.TO.
ZGI.TO tracks Dow Jones Brookfield Global Infrastructure North American Listed Index, while XGI.TO tracks Morningstar Gbl GR CAD. They also come from different issuers: BMO and iShares. Their fees differ too: 0.61% for ZGI.TO and 0.68% for XGI.TO.
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