ZHU.TO vs. XHC.TO

Last updated Jun 4, 2026

ZHU.TO (BMO Equal Weight US Health Care Index ETF) and XHC.TO (iShares Global Healthcare Index ETF (CAD-Hedged)) are both exchange-traded funds - ZHU.TO is a fund fund, while XHC.TO is a Health & Biotech Equities fund tracking the Morningstar Gbl GR CAD. Over the past 5 years, ZHU.TO returned 1.51%/yr vs 3.54%/yr for XHC.TO. At a 0.46 correlation, their price movements are largely independent.

Performance

ZHU.TO vs. XHC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Equal Weight US Health Care Index ETF (ZHU.TO) and iShares Global Healthcare Index ETF (CAD-Hedged) (XHC.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZHU.TO achieves a -3.69% return, which is significantly higher than XHC.TO's -5.65% return.

ZHU.TO

• 1D: -2.11%
• 1M: 2.86%
• YTD: -3.69%
• 6M: -5.58%
• 1Y: 10.52%
• 3Y*: 2.00%
• 5Y*: 1.51%
• 10Y*: —

XHC.TO

• 1D: 0.59%
• 1M: 0.77%
• YTD: -5.65%
• 6M: -5.54%
• 1Y: 7.72%
• 3Y*: 2.70%
• 5Y*: 3.54%
• 10Y*: 6.87%

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

ZHU.TO vs. XHC.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ZHU.TO BMO Equal Weight US Health Care Index ETF	-3.69%	3.43%	5.43%	-1.57%	-9.75%	16.84%	17.53%	11.17%
XHC.TO iShares Global Healthcare Index ETF (CAD-Hedged)	-5.65%	10.91%	1.22%	2.14%	-3.56%	21.32%	8.71%	13.91%

Correlation

The correlation between ZHU.TO and XHC.TO is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (All Time) Calculated using the full available price history since Mar 5, 2019	0.46

Over the past year, the correlation between ZHU.TO and XHC.TO has dropped to 0.17 - well below their long-term average of 0.46, suggesting their price drivers have been diverging.

ZHU.TO vs. XHC.TO - Sectors Allocation Comparison

Sectors	ZHU.TO	XHC.TO
Healthcare	100.0%	97.4%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	0.5%
Energy	-	-
Financial Services	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

ZHU.TO vs. XHC.TO — Risk / Return Rank

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

ZHU.TO

ZHU.TO Risk / Return Rank: 19
ZHU.TO Sharpe Ratio Rank: 19
ZHU.TO Sortino Ratio Rank: 19
ZHU.TO Omega Ratio Rank: 18
ZHU.TO Calmar Ratio Rank: 21
ZHU.TO Martin Ratio Rank: 19

XHC.TO

XHC.TO Risk / Return Rank: 17
XHC.TO Sharpe Ratio Rank: 17
XHC.TO Sortino Ratio Rank: 17
XHC.TO Omega Ratio Rank: 16
XHC.TO Calmar Ratio Rank: 18
XHC.TO Martin Ratio Rank: 17

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.

ZHU.TO vs. XHC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Equal Weight US Health Care Index ETF (ZHU.TO) and iShares Global Healthcare Index ETF (CAD-Hedged) (XHC.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.

	ZHU.TO	XHC.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.60	0.54	+0.05
Sortino ratio: Return per unit of downside risk	0.94	0.91	+0.03
Omega ratio: Gain probability vs. loss probability	1.11	1.10	+0.01
Calmar ratio: Return relative to maximum drawdown	0.90	0.72	+0.18
Martin ratio: Return relative to average drawdown	2.02	1.76	+0.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZHU.TO vs. XHC.TO - Sharpe Ratio Comparison

The current ZHU.TO Sharpe Ratio is 0.60, which is comparable to the XHC.TO Sharpe Ratio of 0.54. The chart below compares the historical Sharpe Ratios of ZHU.TO and XHC.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

	ZHU.TO	XHC.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.60	0.54	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.09	0.26	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.44	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.67	-0.39

Drawdowns

ZHU.TO vs. XHC.TO - Drawdown Comparison

The maximum ZHU.TO drawdown since its inception was -27.25%, roughly equal to the maximum XHC.TO drawdown of -27.28%. Use the drawdown chart below to compare losses from any high point for ZHU.TO and XHC.TO.

Drawdown Indicators

	ZHU.TO	XHC.TO	Difference
Max Drawdown Largest peak-to-trough decline	-27.25%	-27.28%	+0.03%
Max Drawdown (1Y) Largest decline over 1 year	-10.95%	-10.79%	-0.16%
Max Drawdown (3Y) Largest decline over 3 years	-21.51%	-18.81%	-2.70%
Max Drawdown (5Y) Largest decline over 5 years	-27.25%	-18.81%	-8.44%
Max Drawdown (10Y) Largest decline over 10 years	—	-27.28%	—
Current Drawdown Current decline from peak	-9.50%	-9.76%	+0.26%
Average Drawdown Average peak-to-trough decline	-8.89%	-4.85%	-4.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.87%	4.39%	+0.48%

Volatility

ZHU.TO vs. XHC.TO - Volatility Comparison

BMO Equal Weight US Health Care Index ETF (ZHU.TO) and iShares Global Healthcare Index ETF (CAD-Hedged) (XHC.TO) have volatilities of 4.72% and 4.76%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZHU.TO	XHC.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.72%	4.76%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	11.87%	10.21%	+1.66%
Volatility (1Y) Calculated over the trailing 1-year period	16.61%	14.34%	+2.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.02%	13.87%	+2.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.52%	15.75%	+1.77%

Dividends

ZHU.TO vs. XHC.TO - Dividend Comparison

ZHU.TO's dividend yield for the trailing twelve months is around 0.56%, less than XHC.TO's 1.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XHC.TO iShares Global Healthcare Index ETF (CAD-Hedged)	1.98%	1.87%	4.42%	2.38%	0.84%	0.79%	0.96%	1.07%	1.68%	1.14%	1.63%	2.15%
ZHU.TO BMO Equal Weight US Health Care Index ETF	0.56%	0.54%	0.58%	0.97%	0.43%	0.13%	0.37%	0.17%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ZHU.TO and XHC.TO in my portfolio?

ZHU.TO and XHC.TO have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.