ZIC.TO vs. ESGF.TO
ZIC.TO (BMO Mid-Term US Investment Grade Corporate Bond Index ETF) and ESGF.TO (BMO ESG US Corporate Bond Hedged to CAD Index ETF) are both Corporate Bonds funds from BMO. Over the past 5 years, ZIC.TO returned 2.89%/yr vs -1.73%/yr for ESGF.TO. At a 0.16 correlation, their price movements are largely independent.
Performance
ZIC.TO vs. ESGF.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZIC.TO achieves a 2.05% return, which is significantly higher than ESGF.TO's -0.85% return.
ZIC.TO
- 1D
- 0.05%
- 1M
- 0.05%
- 6M
- 0.74%
- YTD
- 2.05%
- 1Y
- 7.22%
- 3Y*
- 7.91%
- 5Y*
- 2.89%
- 10Y*
- 3.45%
ESGF.TO
- 1D
- 0.60%
- 1M
- -0.89%
- 6M
- -1.38%
- YTD
- -0.85%
- 1Y
- 2.17%
- 3Y*
- 2.01%
- 5Y*
- -1.73%
- 10Y*
- —
ZIC.TO vs. ESGF.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ZIC.TO BMO Mid-Term US Investment Grade Corporate Bond Index ETF | 2.05% | 4.46% | 11.87% | 6.34% | -8.92% | -1.35% | 5.17% |
ESGF.TO BMO ESG US Corporate Bond Hedged to CAD Index ETF | -0.85% | 5.25% | -2.92% | 7.28% | -15.76% | -3.12% | 9.56% |
Correlation
The correlation between ZIC.TO and ESGF.TO is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2020 | 0.16 |
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Return for Risk
ZIC.TO vs. ESGF.TO — Risk / Return Rank
ZIC.TO
ESGF.TO
ZIC.TO vs. ESGF.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Mid-Term US Investment Grade Corporate Bond Index ETF (ZIC.TO) and BMO ESG US Corporate Bond Hedged to CAD Index ETF (ESGF.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.
| ZIC.TO | ESGF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.88 | ||
| Sortino ratioReturn per unit of downside risk | +1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.08 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.78 | 0.75 | +1.04 |
| Martin ratioReturn relative to average drawdown | 3.85 | 1.61 | +2.23 |
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Drawdowns
ZIC.TO vs. ESGF.TO - Drawdown Comparison
The maximum ZIC.TO drawdown since its inception was -19.48%, smaller than the maximum ESGF.TO drawdown of -23.55%. Use the drawdown chart below to compare losses from any high point for ZIC.TO and ESGF.TO.
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Drawdown Indicators
| ZIC.TO | ESGF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.48% | -23.55% | +4.07% |
Max Drawdown (1Y)Largest decline over 1 year | -4.06% | -2.92% | -1.14% |
Max Drawdown (3Y)Largest decline over 3 years | -6.96% | -8.77% | +1.81% |
Max Drawdown (5Y)Largest decline over 5 years | -15.65% | -23.18% | +7.53% |
Max Drawdown (10Y)Largest decline over 10 years | -19.48% | — | — |
Current DrawdownCurrent decline from peak | -2.22% | -11.30% | +9.08% |
Average DrawdownAverage peak-to-trough decline | -5.10% | -10.59% | +5.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.88% | 1.35% | +0.53% |
Volatility
ZIC.TO vs. ESGF.TO - Volatility Comparison
The current volatility for BMO Mid-Term US Investment Grade Corporate Bond Index ETF (ZIC.TO) is 1.67%, while BMO ESG US Corporate Bond Hedged to CAD Index ETF (ESGF.TO) has a volatility of 2.13%. This indicates that ZIC.TO experiences smaller price fluctuations and is considered to be less risky than ESGF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZIC.TO | ESGF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.67% | 2.13% | -0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 4.33% | 3.83% | +0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.53% | 5.00% | +0.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.92% | 15.25% | -7.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.85% | 15.69% | -6.84% |
Dividends
ZIC.TO vs. ESGF.TO - Dividend Comparison
ZIC.TO's dividend yield for the trailing twelve months is around 4.35%, less than ESGF.TO's 4.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ESGF.TO BMO ESG US Corporate Bond Hedged to CAD Index ETF | 4.42% | 4.14% | 4.08% | 4.06% | 3.77% | 2.93% | 2.75% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZIC.TO BMO Mid-Term US Investment Grade Corporate Bond Index ETF | 4.35% | 4.03% | 3.80% | 3.85% | 3.94% | 3.53% | 3.46% | 3.57% | 3.46% | 3.33% | 3.29% | 3.12% |
Frequently Asked Questions
ZIC.TO and ESGF.TO have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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