ZGLD.TO vs. HISU-U.TO

Last updated Jun 4, 2026

ZGLD.TO (BMO Gold Bullion ETF (CAD Units)) and HISU-U.TO (Evolve US High Interest Savings Account Fund) are both exchange-traded funds - ZGLD.TO is a Gold fund tracking the Gold Bullion, while HISU-U.TO is a Money Market fund actively managed by Evolve. ZGLD.TO is passively managed, while HISU-U.TO is actively managed. Over the past year, ZGLD.TO returned 33.90% vs 4.08% for HISU-U.TO. At a correlation of -0.12, they often move in opposite directions. ZGLD.TO charges 0.23%/yr vs 0.15%/yr for HISU-U.TO.

Performance

ZGLD.TO vs. HISU-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Gold Bullion ETF (CAD Units) (ZGLD.TO) and Evolve US High Interest Savings Account Fund (HISU-U.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, ZGLD.TO achieves a 4.35% return, which is significantly higher than HISU-U.TO's 2.33% return.

ZGLD.TO

• 1D: -0.70%
• 1M: 0.41%
• YTD: 4.35%
• 6M: 5.03%
• 1Y: 33.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HISU-U.TO

• 1D: 0.42%
• 1M: 2.21%
• YTD: 2.33%
• 6M: 0.87%
• 1Y: 4.08%
• 3Y*: 4.59%
• 5Y*: —
• 10Y*: —

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

ZGLD.TO vs. HISU-U.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ZGLD.TO BMO Gold Bullion ETF (CAD Units)	4.35%	55.82%	28.23%
HISU-U.TO Evolve US High Interest Savings Account Fund	2.33%	-1.75%	9.82%

Correlation

The correlation between ZGLD.TO and HISU-U.TO is -0.18, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.18
Correlation (All Time) Calculated using the full available price history since Mar 12, 2024	-0.12

Return for Risk

ZGLD.TO vs. HISU-U.TO — Risk / Return Rank

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

ZGLD.TO

ZGLD.TO Risk / Return Rank: 36
ZGLD.TO Sharpe Ratio Rank: 37
ZGLD.TO Sortino Ratio Rank: 33
ZGLD.TO Omega Ratio Rank: 41
ZGLD.TO Calmar Ratio Rank: 40
ZGLD.TO Martin Ratio Rank: 32

HISU-U.TO

HISU-U.TO Risk / Return Rank: 99
HISU-U.TO Sharpe Ratio Rank: 99
HISU-U.TO Sortino Ratio Rank: 99
HISU-U.TO Omega Ratio Rank: 99
HISU-U.TO Calmar Ratio Rank: 99
HISU-U.TO Martin Ratio Rank: 99

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.

ZGLD.TO vs. HISU-U.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Gold Bullion ETF (CAD Units) (ZGLD.TO) and Evolve US High Interest Savings Account Fund (HISU-U.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.

	ZGLD.TO	HISU-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.35	0.90	+0.46
Sortino ratio: Return per unit of downside risk	1.79	1.25	+0.54
Omega ratio: Gain probability vs. loss probability	1.27	1.16	+0.11
Calmar ratio: Return relative to maximum drawdown	1.98	1.02	+0.95
Martin ratio: Return relative to average drawdown	4.85	2.66	+2.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZGLD.TO vs. HISU-U.TO - Sharpe Ratio Comparison

The current ZGLD.TO Sharpe Ratio is 1.35, which is higher than the HISU-U.TO Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of ZGLD.TO and HISU-U.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ZGLD.TO	HISU-U.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.35	0.90	+0.46
Sharpe Ratio (All Time) Calculated using the full available price history	1.91	0.85	+1.06

Drawdowns

ZGLD.TO vs. HISU-U.TO - Drawdown Comparison

The maximum ZGLD.TO drawdown since its inception was -17.23%, which is greater than HISU-U.TO's maximum drawdown of -5.49%. Use the drawdown chart below to compare losses from any high point for ZGLD.TO and HISU-U.TO.

Drawdown Indicators

	ZGLD.TO	HISU-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-17.23%	-5.49%	-11.74%
Max Drawdown (1Y) Largest decline over 1 year	-17.23%	-4.01%	-13.22%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.49%	—
Current Drawdown Current decline from peak	-15.38%	-0.69%	-14.69%
Average Drawdown Average peak-to-trough decline	-3.37%	-1.78%	-1.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.00%	1.54%	+5.46%

Volatility

ZGLD.TO vs. HISU-U.TO - Volatility Comparison

BMO Gold Bullion ETF (CAD Units) (ZGLD.TO) has a higher volatility of 5.27% compared to Evolve US High Interest Savings Account Fund (HISU-U.TO) at 0.79%. This indicates that ZGLD.TO's price experiences larger fluctuations and is considered to be riskier than HISU-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZGLD.TO	HISU-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.27%	0.79%	+4.48%
Volatility (6M) Calculated over the trailing 6-month period	21.46%	3.43%	+18.03%
Volatility (1Y) Calculated over the trailing 1-year period	25.17%	4.58%	+20.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.58%	5.94%	+14.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.58%	5.94%	+14.64%

ZGLD.TO vs. HISU-U.TO - Expense Ratio Comparison

ZGLD.TO has a 0.23% expense ratio, which is higher than HISU-U.TO's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ZGLD.TO vs. HISU-U.TO - Dividend Comparison

ZGLD.TO has not paid dividends to shareholders, while HISU-U.TO's dividend yield for the trailing twelve months is around 2.74%.

Position	TTM	2025	2024	2023	2022
HISU-U.TO Evolve US High Interest Savings Account Fund	2.74%	2.93%	3.70%	3.85%	0.90%
ZGLD.TO BMO Gold Bullion ETF (CAD Units)	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ZGLD.TO and HISU-U.TO in my portfolio?

ZGLD.TO and HISU-U.TO have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZGLD.TO or HISU-U.TO?

On fees, HISU-U.TO is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZGLD.TO or HISU-U.TO?

HISU-U.TO is cheaper with a 0.15% expense ratio, compared with 0.23% for ZGLD.TO.

What is the main difference between ZGLD.TO and HISU-U.TO?

ZGLD.TO is categorized as Gold, while HISU-U.TO is Money Market. They also come from different issuers: BMO and Evolve. Their fees differ too: 0.23% for ZGLD.TO and 0.15% for HISU-U.TO.