PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
ZIU.TO vs. ZMMK.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZIU.TO vs. ZMMK.TO

Last updated Jun 4, 2026

ZIU.TO (BMO S&P/TSX 60 Index ETF) and ZMMK.TO (BMO Money Market Fund ETF Series) are both exchange-traded funds - ZIU.TO is a Canada Equities fund tracking the S&P/TSX 60 Index, while ZMMK.TO is a Money Market fund actively managed by BMO. ZIU.TO is passively managed, while ZMMK.TO is actively managed. Over the past year, ZIU.TO returned 31.32% vs 2.48% for ZMMK.TO. At a 0.07 correlation, their price movements are largely independent. ZIU.TO charges 0.15%/yr vs 0.13%/yr for ZMMK.TO.

Performance

ZIU.TO vs. ZMMK.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO S&P/TSX 60 Index ETF (ZIU.TO) and BMO Money Market Fund ETF Series (ZMMK.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, ZIU.TO achieves a 10.17% return, which is significantly higher than ZMMK.TO's 0.95% return.

ZIU.TO

1D
-0.14%
1M
3.59%
YTD
10.17%
6M
11.84%
1Y
31.32%
3Y*
—
5Y*
—
10Y*
—

ZMMK.TO

1D
-0.01%
1M
0.19%
YTD
0.95%
6M
1.13%
1Y
2.48%
3Y*
3.85%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZIU.TO vs. ZMMK.TO - Yearly Performance Comparison

2026 (YTD)202520242023
ZIU.TO
BMO S&P/TSX 60 Index ETF		10.17%28.37%21.12%10.25%
ZMMK.TO
BMO Money Market Fund ETF Series		0.95%2.77%4.94%1.25%

Correlation

The correlation between ZIU.TO and ZMMK.TO is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.12

Correlation (All Time)
Calculated using the full available price history since Oct 3, 2023

0.07

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

BMO S&P/TSX 60 Index ETF

BMO Money Market Fund ETF Series

Often compared with ZIU.TO:
ZIU.TO vs. XIU.TOZIU.TO vs. ZCN.TOZIU.TO vs. VFV.TOZIU.TO vs. VCE.TOZIU.TO vs. ^GSPCZIU.TO vs. FIE.TOZIU.TO vs. XDIV.TO
Often compared with ZMMK.TO:
ZMMK.TO vs. CASH.TOZMMK.TO vs. CMR.TOZMMK.TO vs. CBIL.TOZMMK.TO vs. HSAV.TOZMMK.TO vs. ZAG.TOZMMK.TO vs. PSA.TOZMMK.TO vs. TCSH.TO

Return for Risk

ZIU.TO vs. ZMMK.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZIU.TO
ZIU.TO Risk / Return Rank: 8383
Overall Rank
ZIU.TO Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
ZIU.TO Sortino Ratio Rank: 8484
Sortino Ratio Rank
ZIU.TO Omega Ratio Rank: 8484
Omega Ratio Rank
ZIU.TO Calmar Ratio Rank: 7878
Calmar Ratio Rank
ZIU.TO Martin Ratio Rank: 8787
Martin Ratio Rank
ZMMK.TO
ZMMK.TO Risk / Return Rank: 100100
Overall Rank
ZMMK.TO Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
ZMMK.TO Sortino Ratio Rank: 100100
Sortino Ratio Rank
ZMMK.TO Omega Ratio Rank: 9999
Omega Ratio Rank
ZMMK.TO Calmar Ratio Rank: 100100
Calmar Ratio Rank
ZMMK.TO Martin Ratio Rank: 100100
Martin Ratio Rank
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.

ZIU.TO vs. ZMMK.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO S&P/TSX 60 Index ETF (ZIU.TO) and BMO Money Market Fund ETF Series (ZMMK.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.

ZIU.TOZMMK.TODifference
Sharpe ratioReturn per unit of total volatility
2.80
9.66

-6.86

Sortino ratioReturn per unit of downside risk
3.80
23.92

-20.12

Omega ratioGain probability vs. loss probability

1.52

5.45

-3.93

Calmar ratioReturn relative to maximum drawdown

3.99

82.88

-78.89

Martin ratioReturn relative to average drawdown

19.04

377.25

-358.22

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZIU.TO vs. ZMMK.TO - Sharpe Ratio Comparison

The current ZIU.TO Sharpe Ratio is 2.80, which is lower than the ZMMK.TO Sharpe Ratio of 9.66. The chart below compares the historical Sharpe Ratios of ZIU.TO and ZMMK.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.

Loading charts...

Sharpe Ratios by Period

ZIU.TOZMMK.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.80

9.66

-6.86

Sharpe Ratio (All Time)

Calculated using the full available price history

2.18

10.29

-8.12

Drawdowns

ZIU.TO vs. ZMMK.TO - Drawdown Comparison

The maximum ZIU.TO drawdown since its inception was -12.35%, which is greater than ZMMK.TO's maximum drawdown of -0.16%. Use the drawdown chart below to compare losses from any high point for ZIU.TO and ZMMK.TO.

Loading charts...

Drawdown Indicators

ZIU.TOZMMK.TODifference

Max Drawdown

Largest peak-to-trough decline

-12.35%

-0.16%

-12.19%

Max Drawdown (1Y)

Largest decline over 1 year

-7.88%

-0.03%

-7.85%

Max Drawdown (3Y)

Largest decline over 3 years

—

-0.08%

—

Current Drawdown

Current decline from peak

-0.14%

-0.02%

-0.12%

Average Drawdown

Average peak-to-trough decline

-1.30%

-0.00%

-1.30%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.65%

0.01%

+1.64%

Volatility

ZIU.TO vs. ZMMK.TO - Volatility Comparison

BMO S&P/TSX 60 Index ETF (ZIU.TO) has a higher volatility of 2.25% compared to BMO Money Market Fund ETF Series (ZMMK.TO) at 0.06%. This indicates that ZIU.TO's price experiences larger fluctuations and is considered to be riskier than ZMMK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

ZIU.TOZMMK.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.25%

0.06%

+2.19%

Volatility (6M)

Calculated over the trailing 6-month period

8.94%

0.18%

+8.76%

Volatility (1Y)

Calculated over the trailing 1-year period

11.25%

0.26%

+10.99%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.42%

0.34%

+12.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.42%

0.34%

+12.08%

ZIU.TO vs. ZMMK.TO - Expense Ratio Comparison

ZIU.TO has a 0.15% expense ratio, which is higher than ZMMK.TO's 0.13% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ZIU.TO vs. ZMMK.TO - Dividend Comparison

ZIU.TO's dividend yield for the trailing twelve months is around 2.10%, less than ZMMK.TO's 2.53% yield.

PositionTTM20252024202320222021
ZIU.TO
BMO S&P/TSX 60 Index ETF		2.10%2.28%2.70%0.78%0.00%0.00%
ZMMK.TO
BMO Money Market Fund ETF Series		2.53%3.02%4.66%4.98%1.95%0.04%

Frequently Asked Questions

ZIU.TO and ZMMK.TO have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZMMK.TO is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZMMK.TO is cheaper with a 0.13% expense ratio, compared with 0.15% for ZIU.TO.

ZIU.TO is categorized as Canada Equities, while ZMMK.TO is Money Market. Their fees differ too: 0.15% for ZIU.TO and 0.13% for ZMMK.TO.

Portfolio Optimizer

Find the right allocation for ZIU.TO and ZMMK.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer