PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
ZLB.TO vs. XST.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZLB.TO vs. XST.TO

Last updated Jun 9, 2026

ZLB.TO (BMO Low Volatility Canadian Equity ETF) and XST.TO (iShares S&P/TSX Capped Consumer Staples Index ETF) are both exchange-traded funds - ZLB.TO is a Canada Equities fund actively managed by BMO, while XST.TO is a Consumer Staples Equities fund tracking the Morningstar Gbl GR CAD. ZLB.TO is actively managed, while XST.TO is passively managed. Over the past 10 years, ZLB.TO returned 10.42%/yr vs 18.73%/yr for XST.TO. A 0.60 correlation means they provide meaningful diversification when combined. ZLB.TO charges 0.39%/yr vs 0.61%/yr for XST.TO.

Performance

ZLB.TO vs. XST.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Low Volatility Canadian Equity ETF (ZLB.TO) and iShares S&P/TSX Capped Consumer Staples Index ETF (XST.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, ZLB.TO achieves a 3.94% return, which is significantly higher than XST.TO's 3.19% return. Over the past 10 years, ZLB.TO has underperformed XST.TO with an annualized return of 10.42%, while XST.TO has yielded a comparatively higher 18.73% annualized return.

ZLB.TO

1D
-0.71%
1M
1.46%
YTD
3.94%
6M
1.44%
1Y
12.65%
3Y*
14.61%
5Y*
10.98%
10Y*
10.42%

XST.TO

1D
-1.39%
1M
3.92%
YTD
3.19%
6M
3.03%
1Y
9.96%
3Y*
46.50%
5Y*
30.53%
10Y*
18.73%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZLB.TO vs. XST.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ZLB.TO
BMO Low Volatility Canadian Equity ETF		3.94%20.40%15.31%9.41%-0.35%22.93%1.51%21.92%-2.76%11.11%
XST.TO
iShares S&P/TSX Capped Consumer Staples Index ETF		3.19%16.38%140.92%7.25%9.63%21.31%4.28%12.92%2.53%7.95%

Correlation

The correlation between ZLB.TO and XST.TO is 0.64, 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

0.64

Correlation (3Y)
Calculated over the trailing 3-year period

0.67

Correlation (5Y)
Calculated over the trailing 5-year period

0.67

Correlation (10Y)
Calculated over the trailing 10-year period

0.65

Correlation (All Time)
Calculated using the full available price history since Jan 24, 2012

0.60

The correlation between ZLB.TO and XST.TO has been stable across timeframes, ranging from 0.60 to 0.67 - a consistent structural relationship.

ZLB.TO vs. XST.TO - Sectors Allocation Comparison

Sectors
ZLB.TO
XST.TO

Financial Services

23.9%

-

Consumer Defensive

18.3%
74.9%

Utilities

17.6%

-

Industrials

10.0%

-

Communication Services

9.3%

-

Consumer Cyclical

8.5%
25.1%

Basic Materials

6.2%

-

Real Estate

4.3%

-

Technology

1.9%

-

Energy

-

-

Healthcare

-

-

Financial Services

ZLB.TO
23.9%
XST.TO

-

Consumer Defensive

ZLB.TO
18.3%
XST.TO
74.9%

Utilities

ZLB.TO
17.6%
XST.TO

-

Industrials

ZLB.TO
10.0%
XST.TO

-

Communication Services

ZLB.TO
9.3%
XST.TO

-

Consumer Cyclical

ZLB.TO
8.5%
XST.TO
25.1%

Basic Materials

ZLB.TO
6.2%
XST.TO

-

Real Estate

ZLB.TO
4.3%
XST.TO

-

Technology

ZLB.TO
1.9%
XST.TO

-

Energy

ZLB.TO

-

XST.TO

-

Healthcare

ZLB.TO

-

XST.TO

-

Compare stocks, funds, or ETFs

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

BMO Low Volatility Canadian Equity ETF

iShares S&P/TSX Capped Consumer Staples Index ETF

Often compared with ZLB.TO:
ZLB.TO vs. VDY.TOZLB.TO vs. XIU.TOZLB.TO vs. XDIV.TOZLB.TO vs. XMW.TOZLB.TO vs. XBAL.TOZLB.TO vs. XUT.TOZLB.TO vs. XUU-U.TO
Often compared with XST.TO:
XST.TO vs. VDCXST.TO vs. VOOXST.TO vs. BALTXST.TO vs. XQQ.TOXST.TO vs. XSTP.TOXST.TO vs. XCD.TOXST.TO vs. CHSCP

Return for Risk

ZLB.TO vs. XST.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZLB.TO
ZLB.TO Risk / Return Rank: 4545
Overall Rank
ZLB.TO Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
ZLB.TO Sortino Ratio Rank: 4040
Sortino Ratio Rank
ZLB.TO Omega Ratio Rank: 4545
Omega Ratio Rank
ZLB.TO Calmar Ratio Rank: 5050
Calmar Ratio Rank
ZLB.TO Martin Ratio Rank: 4545
Martin Ratio Rank
XST.TO
XST.TO Risk / Return Rank: 2121
Overall Rank
XST.TO Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
XST.TO Sortino Ratio Rank: 2020
Sortino Ratio Rank
XST.TO Omega Ratio Rank: 2020
Omega Ratio Rank
XST.TO Calmar Ratio Rank: 2323
Calmar Ratio Rank
XST.TO Martin Ratio Rank: 2020
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.

ZLB.TO vs. XST.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 iShares S&P/TSX Capped Consumer Staples Index ETF (XST.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.TOXST.TODifference
Sharpe ratioReturn per unit of total volatility
1.38
0.61

+0.77

Sortino ratioReturn per unit of downside risk
1.89
0.97

+0.92

Omega ratioGain probability vs. loss probability

1.26

1.12

+0.14

Calmar ratioReturn relative to maximum drawdown

2.24

0.95

+1.29

Martin ratioReturn relative to average drawdown

6.56

2.24

+4.32

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

ZLB.TO vs. XST.TO - Sharpe Ratio Comparison

The current ZLB.TO Sharpe Ratio is 1.38, which is higher than the XST.TO Sharpe Ratio of 0.61. The chart below compares the historical Sharpe Ratios of ZLB.TO and XST.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

ZLB.TOXST.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.38

0.61

+0.77

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.15

0.65

+0.50

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.86

0.53

+0.33

Sharpe Ratio (All Time)

Calculated using the full available price history

1.11

0.63

+0.48

Drawdowns

ZLB.TO vs. XST.TO - Drawdown Comparison

The maximum ZLB.TO drawdown since its inception was -33.96%, which is greater than XST.TO's maximum drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for ZLB.TO and XST.TO.

Loading charts...

Drawdown Indicators

ZLB.TOXST.TODifference

Max Drawdown

Largest peak-to-trough decline

-33.96%

-25.42%

-8.54%

Max Drawdown (1Y)

Largest decline over 1 year

-5.67%

-10.52%

+4.85%

Max Drawdown (3Y)

Largest decline over 3 years

-8.01%

-10.86%

+2.85%

Max Drawdown (5Y)

Largest decline over 5 years

-13.00%

-10.86%

-2.14%

Max Drawdown (10Y)

Largest decline over 10 years

-33.96%

-25.42%

-8.54%

Current Drawdown

Current decline from peak

-0.94%

-5.08%

+4.14%

Average Drawdown

Average peak-to-trough decline

-2.49%

-3.66%

+1.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.93%

4.46%

-2.53%

Volatility

ZLB.TO vs. XST.TO - Volatility Comparison

The current volatility for BMO Low Volatility Canadian Equity ETF (ZLB.TO) is 2.74%, while iShares S&P/TSX Capped Consumer Staples Index ETF (XST.TO) has a volatility of 5.14%. This indicates that ZLB.TO experiences smaller price fluctuations and is considered to be less risky than XST.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

ZLB.TOXST.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.74%

5.14%

-2.40%

Volatility (6M)

Calculated over the trailing 6-month period

7.54%

12.30%

-4.76%

Volatility (1Y)

Calculated over the trailing 1-year period

9.23%

16.38%

-7.15%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

9.62%

47.20%

-37.58%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.22%

35.43%

-23.21%

ZLB.TO vs. XST.TO - Expense Ratio Comparison

ZLB.TO has a 0.39% expense ratio, which is lower than XST.TO's 0.61% expense ratio.

Dividends

ZLB.TO vs. XST.TO - Dividend Comparison

ZLB.TO's dividend yield for the trailing twelve months is around 1.91%, more than XST.TO's 0.67% yield.

PositionTTM20252024202320222021202020192018201720162015
XST.TO
iShares S&P/TSX Capped Consumer Staples Index ETF		0.67%0.68%0.87%1.57%1.48%1.37%1.48%1.46%1.62%1.80%1.03%1.24%
ZLB.TO
BMO Low Volatility Canadian Equity ETF		1.91%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 XST.TO have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZLB.TO is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZLB.TO is cheaper with a 0.39% expense ratio, compared with 0.61% for XST.TO.

ZLB.TO is categorized as Canada Equities, while XST.TO is Consumer Staples Equities. They also come from different issuers: BMO and iShares. Their fees differ too: 0.39% for ZLB.TO and 0.61% for XST.TO.

Portfolio Optimizer

Find the right allocation for ZLB.TO and XST.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