ZLB.TO vs. ZMMK.TO
ZLB.TO (BMO Low Volatility Canadian Equity ETF) and ZMMK.TO (BMO Money Market Fund ETF Series) are both exchange-traded funds - ZLB.TO is a Canada Equities fund actively managed by BMO, while ZMMK.TO is a Money Market fund actively managed by BMO. Both are actively managed. Over the past 3 years, ZLB.TO returned 15.17%/yr vs 3.85%/yr for ZMMK.TO. At a 0.05 correlation, their price movements are largely independent. ZLB.TO charges 0.39%/yr vs 0.13%/yr for ZMMK.TO.
Performance
ZLB.TO vs. ZMMK.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 higher than ZMMK.TO's 0.95% 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%
ZMMK.TO
- 1D
- -0.01%
- 1M
- 0.19%
- YTD
- 0.95%
- 6M
- 1.13%
- 1Y
- 2.48%
- 3Y*
- 3.85%
- 5Y*
- —
- 10Y*
- —
ZLB.TO vs. ZMMK.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ZLB.TO BMO Low Volatility Canadian Equity ETF | 3.14% | 25.29% | 15.31% | 9.41% | -0.35% | 3.64% |
ZMMK.TO BMO Money Market Fund ETF Series | 0.95% | 2.77% | 4.94% | 4.86% | 1.99% | 0.04% |
Correlation
The correlation between ZLB.TO and ZMMK.TO is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2021 | 0.05 |
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Return for Risk
ZLB.TO vs. ZMMK.TO — Risk / Return Rank
ZLB.TO
ZMMK.TO
ZLB.TO vs. ZMMK.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 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.
| ZLB.TO | ZMMK.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.86 | ||
| Sortino ratioReturn per unit of downside risk | -21.24 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 5.45 | -4.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.77 | 82.88 | -80.11 |
| Martin ratioReturn relative to average drawdown | 10.29 | 377.25 | -366.97 |
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 | ZMMK.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.80 | 9.66 | -7.86 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.24 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.88 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.14 | 10.29 | -9.15 |
Drawdowns
ZLB.TO vs. ZMMK.TO - Drawdown Comparison
The maximum ZLB.TO drawdown since its inception was -33.96%, 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 ZLB.TO and ZMMK.TO.
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Drawdown Indicators
| ZLB.TO | ZMMK.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.96% | -0.16% | -33.80% |
Max Drawdown (1Y)Largest decline over 1 year | -5.36% | -0.03% | -5.33% |
Max Drawdown (3Y)Largest decline over 3 years | -8.01% | -0.08% | -7.93% |
Max Drawdown (5Y)Largest decline over 5 years | -13.00% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.96% | — | — |
Current DrawdownCurrent decline from peak | -1.70% | -0.02% | -1.68% |
Average DrawdownAverage peak-to-trough decline | -2.46% | -0.00% | -2.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 0.01% | +1.44% |
Volatility
ZLB.TO vs. ZMMK.TO - Volatility Comparison
BMO Low Volatility Canadian Equity ETF (ZLB.TO) has a higher volatility of 2.47% compared to BMO Money Market Fund ETF Series (ZMMK.TO) at 0.06%. This indicates that ZLB.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.
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Volatility by Period
| ZLB.TO | ZMMK.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.47% | 0.06% | +2.41% |
Volatility (6M)Calculated over the trailing 6-month period | 6.38% | 0.18% | +6.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.29% | 0.26% | +8.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.44% | 0.34% | +9.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.15% | 0.34% | +11.81% |
ZLB.TO vs. ZMMK.TO - Expense Ratio Comparison
ZLB.TO has a 0.39% expense ratio, which is higher than ZMMK.TO's 0.13% expense ratio.
Dividends
ZLB.TO vs. ZMMK.TO - Dividend Comparison
ZLB.TO's dividend yield for the trailing twelve months is around 1.88%, less than ZMMK.TO's 2.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ZMMK.TO BMO Money Market Fund ETF Series | 2.53% | 3.02% | 4.66% | 4.98% | 1.95% | 0.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZLB.TO and ZMMK.TO have a correlation of 0.10, 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 0.39% for ZLB.TO.
ZLB.TO is categorized as Canada Equities, while ZMMK.TO is Money Market. Their fees differ too: 0.39% for ZLB.TO and 0.13% for ZMMK.TO.
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