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ZGRO.TO vs. XUSR.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZGRO.TO vs. XUSR.TO

Last updated Jun 4, 2026

ZGRO.TO (BMO Growth ETF) and XUSR.TO (iShares ESG Advanced MSCI USA Index ETF) are both Large Cap Growth Equities funds. ZGRO.TO is actively managed, while XUSR.TO is passively managed. Over the past 5 years, ZGRO.TO returned 11.51%/yr vs 16.66%/yr for XUSR.TO. A 0.78 correlation means they provide meaningful diversification when combined. ZGRO.TO charges 0.18%/yr vs 0.23%/yr for XUSR.TO.

Performance

ZGRO.TO vs. XUSR.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Growth ETF (ZGRO.TO) and iShares ESG Advanced MSCI USA Index ETF (XUSR.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ZGRO.TO achieves a 10.53% return, which is significantly lower than XUSR.TO's 21.07% return.

ZGRO.TO

1D
-0.41%
1M
5.37%
YTD
10.53%
6M
10.31%
1Y
25.76%
3Y*
18.49%
5Y*
11.51%
10Y*
—

XUSR.TO

1D
-0.71%
1M
11.78%
YTD
21.07%
6M
17.73%
1Y
32.90%
3Y*
26.02%
5Y*
16.66%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZGRO.TO vs. XUSR.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
ZGRO.TO
BMO Growth ETF		10.53%16.39%20.71%14.64%-10.58%14.99%20.19%
XUSR.TO
iShares ESG Advanced MSCI USA Index ETF		21.07%9.24%32.45%29.28%-17.20%24.47%27.06%

Correlation

The correlation between ZGRO.TO and XUSR.TO is 0.70, 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

0.70

Correlation (3Y)
Calculated over the trailing 3-year period

0.77

Correlation (5Y)
Calculated over the trailing 5-year period

0.81

Correlation (All Time)
Calculated using the full available price history since Apr 24, 2020

0.78

The correlation between ZGRO.TO and XUSR.TO shifts across timeframes, from 0.70 (1 year) to 0.81 (5 years), reflecting how their relationship changes across market environments.

ZGRO.TO vs. XUSR.TO - Sectors Allocation Comparison

Sectors
ZGRO.TO
XUSR.TO

Technology

22.2%
56.7%

Financial Services

19.8%
14.3%

Industrials

11.2%
7.7%

Consumer Cyclical

8.3%
6.3%

Energy

8.0%
0.1%

Basic Materials

7.2%
2.2%

Healthcare

6.9%
4.6%

Communication Services

6.7%
2.2%

Consumer Defensive

4.9%
0.9%

Utilities

3.0%
1.2%

Real Estate

2.0%
3.7%

Technology

ZGRO.TO
22.2%
XUSR.TO
56.7%

Financial Services

ZGRO.TO
19.8%
XUSR.TO
14.3%

Industrials

ZGRO.TO
11.2%
XUSR.TO
7.7%

Consumer Cyclical

ZGRO.TO
8.3%
XUSR.TO
6.3%

Energy

ZGRO.TO
8.0%
XUSR.TO
0.1%

Basic Materials

ZGRO.TO
7.2%
XUSR.TO
2.2%

Healthcare

ZGRO.TO
6.9%
XUSR.TO
4.6%

Communication Services

ZGRO.TO
6.7%
XUSR.TO
2.2%

Consumer Defensive

ZGRO.TO
4.9%
XUSR.TO
0.9%

Utilities

ZGRO.TO
3.0%
XUSR.TO
1.2%

Real Estate

ZGRO.TO
2.0%
XUSR.TO
3.7%

Compare stocks, funds, or ETFs

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BMO Growth ETF

iShares ESG Advanced MSCI USA Index ETF

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Often compared with XUSR.TO:
XUSR.TO vs. XSUS.TOXUSR.TO vs. XUS.TOXUSR.TO vs. XCSR.TOXUSR.TO vs. VFV.TOXUSR.TO vs. USXFXUSR.TO vs. EAORXUSR.TO vs. VDY.TO

Return for Risk

ZGRO.TO vs. XUSR.TO — 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: 7373
Overall Rank
ZGRO.TO Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
ZGRO.TO Sortino Ratio Rank: 7272
Sortino Ratio Rank
ZGRO.TO Omega Ratio Rank: 7272
Omega Ratio Rank
ZGRO.TO Calmar Ratio Rank: 7474
Calmar Ratio Rank
ZGRO.TO Martin Ratio Rank: 7878
Martin Ratio Rank
XUSR.TO
XUSR.TO Risk / Return Rank: 5858
Overall Rank
XUSR.TO Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
XUSR.TO Sortino Ratio Rank: 5858
Sortino Ratio Rank
XUSR.TO Omega Ratio Rank: 6060
Omega Ratio Rank
XUSR.TO Calmar Ratio Rank: 5858
Calmar Ratio Rank
XUSR.TO Martin Ratio Rank: 5151
Martin Ratio Rank
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. XUSR.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Growth ETF (ZGRO.TO) and iShares ESG Advanced MSCI USA Index ETF (XUSR.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.

ZGRO.TOXUSR.TODifference
Sharpe ratioReturn per unit of total volatility
2.39
2.08

+0.31

Sortino ratioReturn per unit of downside risk
3.32
2.75

+0.57

Omega ratioGain probability vs. loss probability

1.44

1.37

+0.07

Calmar ratioReturn relative to maximum drawdown

3.76

2.87

+0.90

Martin ratioReturn relative to average drawdown

15.21

8.61

+6.60

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZGRO.TO vs. XUSR.TO - Sharpe Ratio Comparison

The current ZGRO.TO Sharpe Ratio is 2.39, which is comparable to the XUSR.TO Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of ZGRO.TO and XUSR.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.

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Sharpe Ratios by Period

ZGRO.TOXUSR.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.39

2.08

+0.31

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.08

0.93

+0.15

Sharpe Ratio (All Time)

Calculated using the full available price history

0.91

1.11

-0.20

Drawdowns

ZGRO.TO vs. XUSR.TO - Drawdown Comparison

The maximum ZGRO.TO drawdown since its inception was -24.64%, smaller than the maximum XUSR.TO drawdown of -28.39%. Use the drawdown chart below to compare losses from any high point for ZGRO.TO and XUSR.TO.

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Drawdown Indicators

ZGRO.TOXUSR.TODifference

Max Drawdown

Largest peak-to-trough decline

-24.64%

-28.39%

+3.75%

Max Drawdown (1Y)

Largest decline over 1 year

-6.87%

-11.52%

+4.65%

Max Drawdown (3Y)

Largest decline over 3 years

-12.45%

-23.02%

+10.57%

Max Drawdown (5Y)

Largest decline over 5 years

-17.19%

-28.39%

+11.20%

Current Drawdown

Current decline from peak

-0.41%

-0.71%

+0.30%

Average Drawdown

Average peak-to-trough decline

-3.38%

-6.29%

+2.91%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.70%

3.83%

-2.13%

Volatility

ZGRO.TO vs. XUSR.TO - Volatility Comparison

The current volatility for BMO Growth ETF (ZGRO.TO) is 4.11%, while iShares ESG Advanced MSCI USA Index ETF (XUSR.TO) has a volatility of 4.94%. This indicates that ZGRO.TO experiences smaller price fluctuations and is considered to be less risky than XUSR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZGRO.TOXUSR.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.11%

4.94%

-0.83%

Volatility (6M)

Calculated over the trailing 6-month period

9.00%

12.58%

-3.58%

Volatility (1Y)

Calculated over the trailing 1-year period

10.81%

16.06%

-5.25%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.76%

18.07%

-7.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.99%

17.59%

-4.60%

ZGRO.TO vs. XUSR.TO - Expense Ratio Comparison

ZGRO.TO has a 0.18% expense ratio, which is lower than XUSR.TO's 0.23% expense ratio. Despite the difference, 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. XUSR.TO - Dividend Comparison

ZGRO.TO's dividend yield for the trailing twelve months is around 1.48%, more than XUSR.TO's 0.56% yield.

PositionTTM2025202420232022202120202019
XUSR.TO
iShares ESG Advanced MSCI USA Index ETF		0.56%0.67%0.68%0.93%1.01%0.65%0.34%0.00%
ZGRO.TO
BMO Growth ETF		1.48%1.70%1.92%2.27%2.54%2.22%2.49%2.32%

Frequently Asked Questions

ZGRO.TO and XUSR.TO have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZGRO.TO is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZGRO.TO is cheaper with a 0.18% expense ratio, compared with 0.23% for XUSR.TO.

They also come from different issuers: BMO and iShares. Their fees differ too: 0.18% for ZGRO.TO and 0.23% for XUSR.TO.

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