ZLB.TO vs. MDA.TO
ZLB.TO (BMO Low Volatility Canadian Equity ETF) is Canada Equities fund actively managed by BMO, while MDA.TO (MDA Space Ltd.) is a stock. Over the past 5 years, ZLB.TO returned 11.24%/yr vs 28.31%/yr for MDA.TO. At a 0.25 correlation, their price movements are largely independent.
Performance
ZLB.TO vs. MDA.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ZLB.TO achieves a 5.69% return, which is significantly lower than MDA.TO's 95.80% return.
ZLB.TO
- 1D
- 0.11%
- 1M
- 3.64%
- YTD
- 5.69%
- 6M
- 2.84%
- 1Y
- 13.46%
- 3Y*
- 15.21%
- 5Y*
- 11.24%
- 10Y*
- 10.66%
MDA.TO
- 1D
- -8.57%
- 1M
- -3.03%
- YTD
- 95.80%
- 6M
- 106.00%
- 1Y
- 76.45%
- 3Y*
- 83.01%
- 5Y*
- 28.31%
- 10Y*
- —
ZLB.TO vs. MDA.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ZLB.TO BMO Low Volatility Canadian Equity ETF | 5.69% | 20.40% | 15.31% | 9.41% | -0.35% | 12.16% |
MDA.TO MDA Space Ltd. | 95.80% | -9.79% | 156.34% | 80.00% | -32.63% | -32.81% |
Correlation
The correlation between ZLB.TO and MDA.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 | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Apr 7, 2021 | 0.25 |
The correlation between ZLB.TO and MDA.TO shifts across timeframes, from 0.15 (1 year) to 0.26 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ZLB.TO vs. MDA.TO — Risk / Return Rank
ZLB.TO
MDA.TO
ZLB.TO vs. MDA.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Low Volatility Canadian Equity ETF (ZLB.TO) and MDA Space Ltd. (MDA.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.
| ZLB.TO | MDA.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.24 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 1.43 | +0.90 |
| Martin ratioReturn relative to average drawdown | 6.85 | 3.07 | +3.78 |
Loading charts...
Drawdowns
ZLB.TO vs. MDA.TO - Drawdown Comparison
The maximum ZLB.TO drawdown since its inception was -33.96%, smaller than the maximum MDA.TO drawdown of -68.33%. Use the drawdown chart below to compare losses from any high point for ZLB.TO and MDA.TO.
Loading charts...
Drawdown Indicators
| ZLB.TO | MDA.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.96% | -68.33% | +34.37% |
Max Drawdown (1Y)Largest decline over 1 year | -5.67% | -53.77% | +48.10% |
Max Drawdown (3Y)Largest decline over 3 years | -8.01% | -53.77% | +45.76% |
Max Drawdown (5Y)Largest decline over 5 years | -13.00% | -65.68% | +52.68% |
Max Drawdown (10Y)Largest decline over 10 years | -33.96% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -22.30% | +22.30% |
Average DrawdownAverage peak-to-trough decline | -2.49% | -30.65% | +28.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.93% | 25.08% | -23.15% |
Volatility
ZLB.TO vs. MDA.TO - Volatility Comparison
The current volatility for BMO Low Volatility Canadian Equity ETF (ZLB.TO) is 2.63%, while MDA Space Ltd. (MDA.TO) has a volatility of 21.96%. This indicates that ZLB.TO experiences smaller price fluctuations and is considered to be less risky than MDA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ZLB.TO | MDA.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.63% | 21.96% | -19.33% |
Volatility (6M)Calculated over the trailing 6-month period | 7.60% | 45.64% | -38.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.26% | 65.12% | -55.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.62% | 49.43% | -39.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.22% | 49.45% | -37.23% |
Dividends
ZLB.TO vs. MDA.TO - Dividend Comparison
ZLB.TO's dividend yield for the trailing twelve months is around 1.88%, while MDA.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MDA.TO MDA Space Ltd. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZLB.TO BMO Low Volatility Canadian Equity ETF | 1.88% | 1.99% | 2.37% | 2.67% | 2.66% | 2.39% | 2.83% | 2.44% | 2.76% | 2.55% | 2.94% | 2.34% |
Frequently Asked Questions
ZLB.TO and MDA.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.
Find the right allocation for ZLB.TO and MDA.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