ZIC.TO vs. ZLB.TO
ZIC.TO (BMO Mid-Term US Investment Grade Corporate Bond Index ETF) and ZLB.TO (BMO Low Volatility Canadian Equity ETF) are both exchange-traded funds - ZIC.TO is a Corporate Bonds fund tracking the Bloomberg US Investment Grade 5 to 10 Year Corporate Bond Capped Index, while ZLB.TO is a Canada Equities fund actively managed by BMO. ZIC.TO is passively managed, while ZLB.TO is actively managed. Over the past 10 years, ZIC.TO returned 3.62%/yr vs 10.79%/yr for ZLB.TO. At a 0.02 correlation, their price movements are largely independent. ZIC.TO charges 0.25%/yr vs 0.39%/yr for ZLB.TO.
Performance
ZIC.TO vs. ZLB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZIC.TO achieves a 1.28% return, which is significantly lower than ZLB.TO's 4.04% return. Over the past 10 years, ZIC.TO has underperformed ZLB.TO with an annualized return of 3.62%, while ZLB.TO has yielded a comparatively higher 10.79% annualized return.
ZIC.TO
- 1D
- 0.22%
- 1M
- 2.21%
- YTD
- 1.28%
- 6M
- -0.27%
- 1Y
- 6.91%
- 3Y*
- 6.91%
- 5Y*
- 3.94%
- 10Y*
- 3.62%
ZLB.TO
- 1D
- 0.87%
- 1M
- 1.80%
- YTD
- 4.04%
- 6M
- 4.91%
- 1Y
- 16.44%
- 3Y*
- 15.72%
- 5Y*
- 11.81%
- 10Y*
- 10.79%
ZIC.TO vs. ZLB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZIC.TO BMO Mid-Term US Investment Grade Corporate Bond Index ETF | 1.28% | 4.24% | 11.86% | 6.33% | -8.93% | -1.36% | 6.51% | 9.03% | 6.40% | -1.26% |
ZLB.TO BMO Low Volatility Canadian Equity ETF | 4.04% | 25.29% | 15.31% | 9.41% | -0.35% | 22.93% | 1.51% | 21.92% | -2.76% | 11.07% |
Correlation
The correlation between ZIC.TO and ZLB.TO is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2013 | 0.02 |
Over the past year, ZIC.TO and ZLB.TO have become more correlated (0.23) than their long-term average of 0.02, meaning their price movements have been converging.
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Return for Risk
ZIC.TO vs. ZLB.TO — Risk / Return Rank
ZIC.TO
ZLB.TO
ZIC.TO vs. ZLB.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 Low Volatility Canadian Equity ETF (ZLB.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.
| ZIC.TO | ZLB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -1.11 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.36 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 3.08 | -1.45 |
| Martin ratioReturn relative to average drawdown | 3.51 | 11.43 | -7.92 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ZIC.TO | ZLB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.27 | 1.99 | -0.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | 1.26 | -0.76 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | 0.89 | -0.48 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 1.15 | -0.55 |
Drawdowns
ZIC.TO vs. ZLB.TO - Drawdown Comparison
The maximum ZIC.TO drawdown since its inception was -19.49%, smaller than the maximum ZLB.TO drawdown of -33.96%. Use the drawdown chart below to compare losses from any high point for ZIC.TO and ZLB.TO.
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Drawdown Indicators
| ZIC.TO | ZLB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.49% | -33.96% | +14.47% |
Max Drawdown (1Y)Largest decline over 1 year | -4.26% | -5.36% | +1.10% |
Max Drawdown (3Y)Largest decline over 3 years | -6.96% | -8.01% | +1.05% |
Max Drawdown (5Y)Largest decline over 5 years | -15.66% | -13.00% | -2.66% |
Max Drawdown (10Y)Largest decline over 10 years | -19.49% | -33.96% | +14.47% |
Current DrawdownCurrent decline from peak | -1.48% | -0.84% | -0.64% |
Average DrawdownAverage peak-to-trough decline | -5.15% | -2.46% | -2.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 1.44% | +0.53% |
Volatility
ZIC.TO vs. ZLB.TO - Volatility Comparison
The current volatility for BMO Mid-Term US Investment Grade Corporate Bond Index ETF (ZIC.TO) is 1.67%, while BMO Low Volatility Canadian Equity ETF (ZLB.TO) has a volatility of 2.57%. This indicates that ZIC.TO experiences smaller price fluctuations and is considered to be less risky than ZLB.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 | ZLB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.67% | 2.57% | -0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 4.18% | 6.39% | -2.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.47% | 8.31% | -2.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.95% | 9.44% | -1.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.90% | 12.15% | -3.25% |
ZIC.TO vs. ZLB.TO - Expense Ratio Comparison
ZIC.TO has a 0.25% expense ratio, which is lower than ZLB.TO's 0.39% expense ratio.
Dividends
ZIC.TO vs. ZLB.TO - Dividend Comparison
ZIC.TO's dividend yield for the trailing twelve months is around 4.31%, more than ZLB.TO's 1.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZIC.TO BMO Mid-Term US Investment Grade Corporate Bond Index ETF | 4.31% | 4.03% | 3.79% | 3.84% | 3.93% | 3.52% | 3.46% | 3.56% | 3.46% | 3.32% | 3.29% | 3.11% |
ZLB.TO BMO Low Volatility Canadian Equity ETF | 1.87% | 1.93% | 2.37% | 2.67% | 2.66% | 2.39% | 2.83% | 2.44% | 2.76% | 2.52% | 2.94% | 2.34% |
Frequently Asked Questions
ZIC.TO and ZLB.TO have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZIC.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZIC.TO is cheaper with a 0.25% expense ratio, compared with 0.39% for ZLB.TO.
ZIC.TO is categorized as Corporate Bonds, while ZLB.TO is Canada Equities. Their fees differ too: 0.25% for ZIC.TO and 0.39% for ZLB.TO.
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