ZIN.TO vs. ZGI.TO

Last updated Jul 16, 2026

ZIN.TO (BMO Equal Weight Industrials Index ETF) and ZGI.TO (BMO Global Infrastructure Index ETF) are both Industrials Equities funds from BMO - ZIN.TO tracks the Solactive Equal Weight Canada Industrials Index while ZGI.TO tracks the Dow Jones Brookfield Global Infrastructure North American Listed Index. Both are passively managed. Over the past 10 years, ZIN.TO returned 13.47%/yr vs 8.52%/yr for ZGI.TO. At a 0.24 correlation, their price movements are largely independent. Both charge a 0.61% expense ratio.

Performance

ZIN.TO vs. ZGI.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Equal Weight Industrials Index ETF (ZIN.TO) and BMO Global Infrastructure Index ETF (ZGI.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZIN.TO achieves a 24.06% return, which is significantly higher than ZGI.TO's 17.33% return. Over the past 10 years, ZIN.TO has outperformed ZGI.TO with an annualized return of 13.47%, while ZGI.TO has yielded a comparatively lower 8.52% annualized return.

ZIN.TO

• 1D: 0.96%
• 1M: 1.92%
• 6M: 17.92%
• YTD: 24.06%
• 1Y: 33.13%
• 3Y*: 20.43%
• 5Y*: 13.35%
• 10Y*: 13.47%

ZGI.TO

• 1D: -1.04%
• 1M: 1.47%
• 6M: 15.40%
• YTD: 17.33%
• 1Y: 17.58%
• 3Y*: 15.07%
• 5Y*: 10.65%
• 10Y*: 8.52%

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

ZIN.TO vs. ZGI.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ZIN.TO BMO Equal Weight Industrials Index ETF	24.06%	16.80%	16.33%	19.36%	-8.05%	17.86%	6.62%	22.67%	-6.61%	17.73%
ZGI.TO BMO Global Infrastructure Index ETF	17.33%	1.01%	25.45%	-0.64%	4.56%	26.89%	-10.43%	25.26%	-0.75%	2.97%

Correlation

The correlation between ZIN.TO and ZGI.TO is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.10
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (10Y) Calculated over the trailing 10-year period	0.23
Correlation (All Time) Calculated using the full available price history since Nov 23, 2012	0.24

The correlation between ZIN.TO and ZGI.TO shifts across timeframes, from -0.02 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.

ZIN.TO vs. ZGI.TO - Sectors Allocation Comparison

Sectors	ZIN.TO	ZGI.TO
Industrials	75.1%	1.6%
Energy	9.4%	44.8%
Consumer Cyclical	8.1%	-
Financial Services	5.0%	-
Utilities	2.8%	41.7%
Real Estate	2.3%	11.9%
Basic Materials	2.3%	-
Communication Services	-	-
Consumer Defensive	-	-
Healthcare	-	-
Technology	-	-

Return for Risk

ZIN.TO vs. ZGI.TO — Risk / Return Rank

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

ZIN.TO

ZIN.TO Risk / Return Rank: 83
ZIN.TO Sharpe Ratio Rank: 84
ZIN.TO Sortino Ratio Rank: 79
ZIN.TO Omega Ratio Rank: 80
ZIN.TO Calmar Ratio Rank: 88
ZIN.TO Martin Ratio Rank: 86

ZGI.TO

ZGI.TO Risk / Return Rank: 52
ZGI.TO Sharpe Ratio Rank: 49
ZGI.TO Sortino Ratio Rank: 48
ZGI.TO Omega Ratio Rank: 44
ZGI.TO Calmar Ratio Rank: 65
ZGI.TO Martin Ratio Rank: 53

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.

ZIN.TO vs. ZGI.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 BMO Global Infrastructure Index ETF (ZGI.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.

	ZIN.TO	ZGI.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.17	1.39	+0.77
Sortino ratio: Return per unit of downside risk	2.83	2.00	+0.83
Omega ratio: Gain probability vs. loss probability	1.38	1.24	+0.14
Calmar ratio: Return relative to maximum drawdown	4.11	2.66	+1.45
Martin ratio: Return relative to average drawdown	13.95	7.31	+6.65

ZIN.TO vs. ZGI.TO - Sharpe Ratio Comparison

The current ZIN.TO Sharpe Ratio is 2.17, which is higher than the ZGI.TO Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of ZIN.TO and ZGI.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.

Drawdowns

ZIN.TO vs. ZGI.TO - Drawdown Comparison

The maximum ZIN.TO drawdown since its inception was -44.01%, which is greater than ZGI.TO's maximum drawdown of -34.76%. Use the drawdown chart below to compare losses from any high point for ZIN.TO and ZGI.TO.

Drawdown Indicators

	ZIN.TO	ZGI.TO	Difference
Max Drawdown Largest peak-to-trough decline	-44.01%	-34.76%	-9.25%
Max Drawdown (1Y) Largest decline over 1 year	-8.10%	-6.65%	-1.45%
Max Drawdown (3Y) Largest decline over 3 years	-22.39%	-10.07%	-12.32%
Max Drawdown (5Y) Largest decline over 5 years	-23.10%	-16.61%	-6.49%
Max Drawdown (10Y) Largest decline over 10 years	-44.01%	-34.76%	-9.25%
Current Drawdown Current decline from peak	-0.29%	-1.65%	+1.36%
Average Drawdown Average peak-to-trough decline	-5.77%	-4.37%	-1.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.38%	2.41%	-0.03%

Volatility

ZIN.TO vs. ZGI.TO - Volatility Comparison

BMO Equal Weight Industrials Index ETF (ZIN.TO) and BMO Global Infrastructure Index ETF (ZGI.TO) have volatilities of 4.41% and 4.39%, 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

	ZIN.TO	ZGI.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.41%	4.39%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	12.35%	10.19%	+2.16%
Volatility (1Y) Calculated over the trailing 1-year period	15.37%	12.70%	+2.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.84%	13.39%	+3.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.04%	15.98%	+2.06%

ZIN.TO vs. ZGI.TO - Expense Ratio Comparison

Both ZIN.TO and ZGI.TO have an expense ratio of 0.61%.

Dividends

ZIN.TO vs. ZGI.TO - Dividend Comparison

ZIN.TO's dividend yield for the trailing twelve months is around 0.87%, less than ZGI.TO's 2.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ZGI.TO BMO Global Infrastructure Index ETF	2.25%	2.77%	2.82%	3.33%	3.01%	3.06%	3.75%	2.85%	2.99%	2.59%	2.60%	2.97%
ZIN.TO BMO Equal Weight Industrials Index ETF	0.87%	1.22%	1.42%	1.68%	2.01%	1.84%	2.10%	2.32%	1.82%	1.35%	1.48%	2.25%

Frequently Asked Questions

Can I hold both ZIN.TO and ZGI.TO in my portfolio?

ZIN.TO and ZGI.TO have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZIN.TO or ZGI.TO?

Both ETFs have the same 0.61% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZIN.TO or ZGI.TO?

ZIN.TO and ZGI.TO have the same expense ratio: 0.61% per year.

What is the main difference between ZIN.TO and ZGI.TO?

ZIN.TO tracks Solactive Equal Weight Canada Industrials Index, while ZGI.TO tracks Dow Jones Brookfield Global Infrastructure North American Listed Index.