ZLB.TO vs. TTP.TO
ZLB.TO (BMO Low Volatility Canadian Equity ETF) and TTP.TO (TD Canadian Equity Index ETF) are both Canada Equities funds. ZLB.TO is actively managed, while TTP.TO is passively managed. Over the past 10 years, ZLB.TO returned 10.67%/yr vs 12.63%/yr for TTP.TO. A 0.63 correlation means they provide meaningful diversification when combined. ZLB.TO charges 0.39%/yr vs 0.05%/yr for TTP.TO.
Performance
ZLB.TO vs. TTP.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZLB.TO achieves a 3.14% return, which is significantly lower than TTP.TO's 10.77% return. Over the past 10 years, ZLB.TO has underperformed TTP.TO with an annualized return of 10.67%, while TTP.TO has yielded a comparatively higher 12.63% annualized return.
ZLB.TO
- 1D
- 0.03%
- 1M
- 1.40%
- YTD
- 3.14%
- 6M
- 4.82%
- 1Y
- 14.81%
- 3Y*
- 15.17%
- 5Y*
- 11.61%
- 10Y*
- 10.67%
TTP.TO
- 1D
- -1.04%
- 1M
- 3.62%
- YTD
- 10.77%
- 6M
- 13.11%
- 1Y
- 34.96%
- 3Y*
- 23.56%
- 5Y*
- 14.98%
- 10Y*
- 12.63%
ZLB.TO vs. TTP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZLB.TO BMO Low Volatility Canadian Equity ETF | 3.14% | 25.29% | 15.31% | 9.41% | -0.35% | 22.93% | 1.51% | 21.92% | -2.76% | 11.07% |
TTP.TO TD Canadian Equity Index ETF | 10.77% | 31.96% | 20.92% | 11.66% | -5.76% | 25.31% | 6.32% | 22.15% | -9.16% | 8.79% |
Correlation
The correlation between ZLB.TO and TTP.TO is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2016 | 0.63 |
The correlation between ZLB.TO and TTP.TO has been stable across timeframes, ranging from 0.63 to 0.73 - a consistent structural relationship.
ZLB.TO vs. TTP.TO - Sectors Allocation Comparison
Sectors
ZLB.TO
TTP.TO
Financial Services
Consumer Defensive
Utilities
Industrials
Communication Services
Consumer Cyclical
Basic Materials
Real Estate
Technology
Energy
-
Healthcare
-
Financial Services
ZLB.TO
TTP.TO
Consumer Defensive
ZLB.TO
TTP.TO
Utilities
ZLB.TO
TTP.TO
Industrials
ZLB.TO
TTP.TO
Communication Services
ZLB.TO
TTP.TO
Consumer Cyclical
ZLB.TO
TTP.TO
Basic Materials
ZLB.TO
TTP.TO
Real Estate
ZLB.TO
TTP.TO
Technology
ZLB.TO
TTP.TO
Energy
ZLB.TO
-
TTP.TO
Healthcare
ZLB.TO
-
TTP.TO
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Return for Risk
ZLB.TO vs. TTP.TO — Risk / Return Rank
ZLB.TO
TTP.TO
ZLB.TO vs. TTP.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 TD Canadian Equity Index ETF (TTP.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.
| ZLB.TO | TTP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.96 | ||
| Sortino ratioReturn per unit of downside risk | -0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.50 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.77 | 3.72 | -0.95 |
| Martin ratioReturn relative to average drawdown | 10.29 | 17.19 | -6.91 |
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
| ZLB.TO | TTP.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.80 | 2.76 | -0.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.24 | 1.14 | +0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.88 | 0.86 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.14 | 0.88 | +0.26 |
Drawdowns
ZLB.TO vs. TTP.TO - Drawdown Comparison
The maximum ZLB.TO drawdown since its inception was -33.96%, smaller than the maximum TTP.TO drawdown of -37.03%. Use the drawdown chart below to compare losses from any high point for ZLB.TO and TTP.TO.
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Drawdown Indicators
| ZLB.TO | TTP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.96% | -37.03% | +3.07% |
Max Drawdown (1Y)Largest decline over 1 year | -5.36% | -9.43% | +4.07% |
Max Drawdown (3Y)Largest decline over 3 years | -8.01% | -12.21% | +4.20% |
Max Drawdown (5Y)Largest decline over 5 years | -13.00% | -16.44% | +3.44% |
Max Drawdown (10Y)Largest decline over 10 years | -33.96% | -37.03% | +3.07% |
Current DrawdownCurrent decline from peak | -1.70% | -1.04% | -0.66% |
Average DrawdownAverage peak-to-trough decline | -2.46% | -3.34% | +0.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 2.04% | -0.59% |
Volatility
ZLB.TO vs. TTP.TO - Volatility Comparison
The current volatility for BMO Low Volatility Canadian Equity ETF (ZLB.TO) is 2.47%, while TD Canadian Equity Index ETF (TTP.TO) has a volatility of 3.40%. This indicates that ZLB.TO experiences smaller price fluctuations and is considered to be less risky than TTP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZLB.TO | TTP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.47% | 3.40% | -0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 6.38% | 10.37% | -3.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.29% | 12.74% | -4.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.44% | 13.20% | -3.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.15% | 14.85% | -2.70% |
ZLB.TO vs. TTP.TO - Expense Ratio Comparison
ZLB.TO has a 0.39% expense ratio, which is higher than TTP.TO's 0.05% expense ratio.
Dividends
ZLB.TO vs. TTP.TO - Dividend Comparison
ZLB.TO's dividend yield for the trailing twelve months is around 1.88%, which matches TTP.TO's 1.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TTP.TO TD Canadian Equity Index ETF | 1.88% | 2.06% | 2.56% | 2.91% | 3.68% | 1.86% | 2.84% | 2.09% | 2.89% | 2.32% | 1.85% | 0.00% |
ZLB.TO BMO Low Volatility Canadian Equity ETF | 1.88% | 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
ZLB.TO and TTP.TO have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TTP.TO is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TTP.TO is cheaper with a 0.05% expense ratio, compared with 0.39% for ZLB.TO.
They also come from different issuers: BMO and TD. Their fees differ too: 0.39% for ZLB.TO and 0.05% for TTP.TO.
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