ZGRO.TO vs. VONG

Last updated Jun 25, 2026

ZGRO.TO (BMO Growth ETF) and VONG (Vanguard Russell 1000 Growth ETF) are both exchange-traded funds - ZGRO.TO is a Global Allocation fund actively managed by BMO, while VONG is a Large Cap Growth Equities fund tracking the Russell 1000 Growth Index. ZGRO.TO is actively managed, while VONG is passively managed. Over the past 5 years, ZGRO.TO returned 15.61%/yr vs 16.26%/yr for VONG. A 0.70 correlation means they provide meaningful diversification when combined. ZGRO.TO charges 0.18%/yr vs 0.06%/yr for VONG.

Performance

ZGRO.TO vs. VONG - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Growth ETF (ZGRO.TO) and Vanguard Russell 1000 Growth ETF (VONG). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, ZGRO.TO achieves a 10.93% return, which is significantly higher than VONG's 5.21% return.

ZGRO.TO

• 1D: 0.00%
• 1M: 0.16%
• YTD: 10.93%
• 6M: 10.40%
• 1Y: 25.31%
• 3Y*: 23.01%
• 5Y*: 15.61%
• 10Y*: —

VONG

• 1D: 0.21%
• 1M: -1.12%
• YTD: 5.21%
• 6M: 3.69%
• 1Y: 20.24%
• 3Y*: 25.02%
• 5Y*: 16.26%
• 10Y*: 19.59%

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

ZGRO.TO vs. VONG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ZGRO.TO BMO Growth ETF	10.93%	18.65%	25.70%	20.36%	-5.92%	20.50%	17.11%	16.29%
VONG Vanguard Russell 1000 Growth ETF	5.21%	13.04%	44.48%	39.28%	-24.69%	27.54%	35.02%	20.47%

Correlation

The correlation between ZGRO.TO and VONG is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (All Time) Calculated using the full available price history since Feb 15, 2019	0.70

The correlation between ZGRO.TO and VONG has been stable across timeframes, ranging from 0.67 to 0.71 - a consistent structural relationship.

Return for Risk

ZGRO.TO vs. VONG — Risk / Return Rank

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

ZGRO.TO

ZGRO.TO Risk / Return Rank: 78
ZGRO.TO Sharpe Ratio Rank: 76
ZGRO.TO Sortino Ratio Rank: 76
ZGRO.TO Omega Ratio Rank: 76
ZGRO.TO Calmar Ratio Rank: 79
ZGRO.TO Martin Ratio Rank: 81

VONG

VONG Risk / Return Rank: 27
VONG Sharpe Ratio Rank: 30
VONG Sortino Ratio Rank: 28
VONG Omega Ratio Rank: 28
VONG Calmar Ratio Rank: 23
VONG Martin Ratio Rank: 26

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.

ZGRO.TO vs. VONG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Growth ETF (ZGRO.TO) and Vanguard Russell 1000 Growth ETF (VONG). 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.

	ZGRO.TO	VONG	Difference
Sharpe ratio: Return per unit of total volatility	2.15	1.26	+0.90
Sortino ratio: Return per unit of downside risk	3.03	1.77	+1.26
Omega ratio: Gain probability vs. loss probability	1.40	1.22	+0.18
Calmar ratio: Return relative to maximum drawdown	3.70	1.23	+2.46
Martin ratio: Return relative to average drawdown	14.49	3.61	+10.88

ZGRO.TO vs. VONG - Sharpe Ratio Comparison

The current ZGRO.TO Sharpe Ratio is 2.15, which is higher than the VONG Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of ZGRO.TO and VONG, 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

ZGRO.TO vs. VONG - Drawdown Comparison

The maximum ZGRO.TO drawdown since its inception was -24.67%, smaller than the maximum VONG drawdown of -31.56%. Use the drawdown chart below to compare losses from any high point for ZGRO.TO and VONG.

Drawdown Indicators

	ZGRO.TO	VONG	Difference
Max Drawdown Largest peak-to-trough decline	-24.67%	-31.56%	+6.89%
Max Drawdown (1Y) Largest decline over 1 year	-6.87%	-16.47%	+9.60%
Max Drawdown (3Y) Largest decline over 3 years	-11.60%	-23.89%	+12.29%
Max Drawdown (5Y) Largest decline over 5 years	-16.21%	-31.56%	+15.35%
Max Drawdown (10Y) Largest decline over 10 years	—	-31.56%	—
Current Drawdown Current decline from peak	-2.43%	-4.17%	+1.74%
Average Drawdown Average peak-to-trough decline	-2.49%	-4.61%	+2.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.75%	5.62%	-3.87%

Volatility

ZGRO.TO vs. VONG - Volatility Comparison

The current volatility for BMO Growth ETF (ZGRO.TO) is 5.05%, while Vanguard Russell 1000 Growth ETF (VONG) has a volatility of 6.22%. This indicates that ZGRO.TO experiences smaller price fluctuations and is considered to be less risky than VONG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZGRO.TO	VONG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.05%	6.22%	-1.17%
Volatility (6M) Calculated over the trailing 6-month period	9.91%	12.67%	-2.76%
Volatility (1Y) Calculated over the trailing 1-year period	11.83%	16.24%	-4.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.18%	22.21%	-11.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.19%	21.86%	-8.67%

ZGRO.TO vs. VONG - Expense Ratio Comparison

ZGRO.TO has a 0.18% expense ratio, which is higher than VONG's 0.06% 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

ZGRO.TO vs. VONG - Dividend Comparison

ZGRO.TO's dividend yield for the trailing twelve months is around 2.24%, more than VONG's 0.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VONG Vanguard Russell 1000 Growth ETF	0.47%	0.45%	0.55%	0.71%	0.98%	0.58%	0.77%	1.03%	1.18%	1.19%	1.48%	1.47%
ZGRO.TO BMO Growth ETF	2.24%	3.38%	5.76%	6.81%	7.63%	6.65%	7.47%	6.95%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ZGRO.TO and VONG in my portfolio?

ZGRO.TO and VONG have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZGRO.TO or VONG?

On fees, VONG is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZGRO.TO or VONG?

VONG is cheaper with a 0.06% expense ratio, compared with 0.18% for ZGRO.TO.

What is the main difference between ZGRO.TO and VONG?

ZGRO.TO is categorized as Global Allocation, while VONG is Large Cap Growth Equities. They also come from different issuers: BMO and Vanguard. Their fees differ too: 0.18% for ZGRO.TO and 0.06% for VONG.