ZIN.TO vs. XCV.TO
ZIN.TO (BMO Equal Weight Industrials Index ETF) and XCV.TO (iShares Canadian Value Index ETF) are both exchange-traded funds - ZIN.TO is a Industrials Equities fund tracking the Solactive Equal Weight Canada Industrials Index, while XCV.TO is a Canada Equities fund tracking the Morningstar Canada GR CAD. Both are passively managed. Over the past 10 years, ZIN.TO returned 13.42%/yr vs 13.20%/yr for XCV.TO. At a 0.47 correlation, their price movements are largely independent. ZIN.TO charges 0.61%/yr vs 0.55%/yr for XCV.TO.
Performance
ZIN.TO vs. XCV.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZIN.TO achieves a 22.77% return, which is significantly higher than XCV.TO's 19.17% return. Both investments have delivered pretty close results over the past 10 years, with ZIN.TO having a 13.42% annualized return and XCV.TO not far behind at 13.20%.
ZIN.TO
- 1D
- -0.12%
- 1M
- 4.65%
- YTD
- 22.77%
- 6M
- 26.17%
- 1Y
- 43.28%
- 3Y*
- 20.97%
- 5Y*
- 13.57%
- 10Y*
- 13.42%
XCV.TO
- 1D
- -0.02%
- 1M
- 4.70%
- YTD
- 19.17%
- 6M
- 19.26%
- 1Y
- 44.26%
- 3Y*
- 27.30%
- 5Y*
- 17.83%
- 10Y*
- 13.20%
ZIN.TO vs. XCV.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZIN.TO BMO Equal Weight Industrials Index ETF | 22.77% | 16.68% | 16.33% | 19.36% | -8.06% | 17.86% | 6.62% | 22.67% | -6.61% | 17.73% |
XCV.TO iShares Canadian Value Index ETF | 19.17% | 32.17% | 21.26% | 9.47% | 1.87% | 32.71% | -2.56% | 18.02% | -11.15% | 8.75% |
Correlation
The correlation between ZIN.TO and XCV.TO is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Nov 26, 2012 | 0.47 |
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Return for Risk
ZIN.TO vs. XCV.TO — Risk / Return Rank
ZIN.TO
XCV.TO
ZIN.TO vs. XCV.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Equal Weight Industrials Index ETF (ZIN.TO) and iShares Canadian Value Index ETF (XCV.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.
| ZIN.TO | XCV.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.00 | ||
| Sortino ratioReturn per unit of downside risk | -2.75 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 2.03 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | 5.37 | 11.53 | -6.16 |
| Martin ratioReturn relative to average drawdown | 19.31 | 43.47 | -24.15 |
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
| ZIN.TO | XCV.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.97 | 4.97 | -2.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.82 | 1.39 | -0.58 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | 0.85 | -0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.76 | 0.54 | +0.22 |
Drawdowns
ZIN.TO vs. XCV.TO - Drawdown Comparison
The maximum ZIN.TO drawdown since its inception was -44.01%, smaller than the maximum XCV.TO drawdown of -52.49%. Use the drawdown chart below to compare losses from any high point for ZIN.TO and XCV.TO.
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Drawdown Indicators
| ZIN.TO | XCV.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.01% | -52.49% | +8.48% |
Max Drawdown (1Y)Largest decline over 1 year | -8.10% | -3.86% | -4.24% |
Max Drawdown (3Y)Largest decline over 3 years | -22.39% | -9.71% | -12.68% |
Max Drawdown (5Y)Largest decline over 5 years | -23.11% | -18.08% | -5.03% |
Max Drawdown (10Y)Largest decline over 10 years | -44.01% | -41.18% | -2.83% |
Current DrawdownCurrent decline from peak | -0.12% | -0.89% | +0.77% |
Average DrawdownAverage peak-to-trough decline | -6.14% | -6.67% | +0.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.25% | 1.02% | +1.23% |
Volatility
ZIN.TO vs. XCV.TO - Volatility Comparison
BMO Equal Weight Industrials Index ETF (ZIN.TO) and iShares Canadian Value Index ETF (XCV.TO) have volatilities of 3.38% and 3.27%, 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.
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Volatility by Period
| ZIN.TO | XCV.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.38% | 3.27% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 11.39% | 7.65% | +3.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.67% | 8.96% | +5.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.70% | 12.87% | +3.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.04% | 15.54% | +2.50% |
ZIN.TO vs. XCV.TO - Expense Ratio Comparison
ZIN.TO has a 0.61% expense ratio, which is higher than XCV.TO's 0.55% expense ratio.
Dividends
ZIN.TO vs. XCV.TO - Dividend Comparison
ZIN.TO's dividend yield for the trailing twelve months is around 0.95%, less than XCV.TO's 2.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XCV.TO iShares Canadian Value Index ETF | 2.29% | 2.71% | 3.72% | 3.88% | 3.18% | 2.11% | 3.35% | 3.06% | 3.13% | 2.40% | 2.50% | 3.14% |
ZIN.TO BMO Equal Weight Industrials Index ETF | 0.95% | 1.22% | 1.41% | 1.67% | 2.01% | 1.84% | 2.10% | 2.31% | 1.81% | 1.35% | 1.91% | 2.24% |
Frequently Asked Questions
ZIN.TO and XCV.TO have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XCV.TO is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XCV.TO is cheaper with a 0.55% expense ratio, compared with 0.61% for ZIN.TO.
ZIN.TO is categorized as Industrials Equities, while XCV.TO is Canada Equities. ZIN.TO tracks Solactive Equal Weight Canada Industrials Index, while XCV.TO tracks Morningstar Canada GR CAD. They also come from different issuers: BMO and iShares. Their fees differ too: 0.61% for ZIN.TO and 0.55% for XCV.TO.
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