ZLD.TO vs. FLUR.NEO
ZLD.TO (BMO Low Volatility International Equity Hedged to CAD ETF) and FLUR.NEO (Franklin International Equity Index ETF) are both Foreign Large Cap Equities funds. Over the past 5 years, ZLD.TO returned 6.03%/yr vs 11.21%/yr for FLUR.NEO. At a 0.38 correlation, their price movements are largely independent. ZLD.TO charges 0.40%/yr vs 0.27%/yr for FLUR.NEO.
Performance
ZLD.TO vs. FLUR.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, ZLD.TO achieves a 2.40% return, which is significantly lower than FLUR.NEO's 13.82% return.
ZLD.TO
- 1D
- -0.20%
- 1M
- 1.10%
- YTD
- 2.40%
- 6M
- 2.20%
- 1Y
- 2.90%
- 3Y*
- 8.86%
- 5Y*
- 6.03%
- 10Y*
- 6.30%
FLUR.NEO
- 1D
- 0.26%
- 1M
- 3.42%
- YTD
- 13.82%
- 6M
- 13.04%
- 1Y
- 25.27%
- 3Y*
- 19.11%
- 5Y*
- 11.21%
- 10Y*
- —
ZLD.TO vs. FLUR.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ZLD.TO BMO Low Volatility International Equity Hedged to CAD ETF | 2.40% | 9.63% | 11.11% | 11.37% | -6.68% | 12.56% | -5.85% | 11.07% |
FLUR.NEO Franklin International Equity Index ETF | 13.82% | 25.68% | 12.42% | 12.87% | -10.40% | 14.74% | 9.77% | 14.40% |
Correlation
The correlation between ZLD.TO and FLUR.NEO is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Feb 13, 2019 | 0.38 |
The correlation between ZLD.TO and FLUR.NEO shifts across timeframes, from 0.35 (5 years) to 0.46 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ZLD.TO vs. FLUR.NEO — Risk / Return Rank
ZLD.TO
FLUR.NEO
ZLD.TO vs. FLUR.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Low Volatility International Equity Hedged to CAD ETF (ZLD.TO) and Franklin International Equity Index ETF (FLUR.NEO). 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.
| ZLD.TO | FLUR.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.31 | ||
| Sortino ratioReturn per unit of downside risk | -1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.33 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 0.41 | 2.27 | -1.86 |
| Martin ratioReturn relative to average drawdown | 0.89 | 8.64 | -7.76 |
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Drawdowns
ZLD.TO vs. FLUR.NEO - Drawdown Comparison
The maximum ZLD.TO drawdown since its inception was -28.97%, roughly equal to the maximum FLUR.NEO drawdown of -30.20%. Use the drawdown chart below to compare losses from any high point for ZLD.TO and FLUR.NEO.
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Drawdown Indicators
| ZLD.TO | FLUR.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.97% | -30.20% | +1.23% |
Max Drawdown (1Y)Largest decline over 1 year | -7.09% | -11.21% | +4.12% |
Max Drawdown (3Y)Largest decline over 3 years | -7.47% | -14.64% | +7.17% |
Max Drawdown (5Y)Largest decline over 5 years | -15.02% | -27.44% | +12.42% |
Max Drawdown (10Y)Largest decline over 10 years | -28.97% | — | — |
Current DrawdownCurrent decline from peak | -4.89% | -0.68% | -4.21% |
Average DrawdownAverage peak-to-trough decline | -3.69% | -5.06% | +1.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.27% | 2.94% | +0.33% |
Volatility
ZLD.TO vs. FLUR.NEO - Volatility Comparison
The current volatility for BMO Low Volatility International Equity Hedged to CAD ETF (ZLD.TO) is 1.67%, while Franklin International Equity Index ETF (FLUR.NEO) has a volatility of 5.07%. This indicates that ZLD.TO experiences smaller price fluctuations and is considered to be less risky than FLUR.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZLD.TO | FLUR.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.67% | 5.07% | -3.40% |
Volatility (6M)Calculated over the trailing 6-month period | 6.28% | 12.11% | -5.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.33% | 15.35% | -7.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.98% | 15.06% | -5.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.85% | 16.96% | -4.11% |
ZLD.TO vs. FLUR.NEO - Expense Ratio Comparison
ZLD.TO has a 0.40% expense ratio, which is higher than FLUR.NEO's 0.27% expense ratio.
Dividends
ZLD.TO vs. FLUR.NEO - Dividend Comparison
ZLD.TO's dividend yield for the trailing twelve months is around 2.26%, more than FLUR.NEO's 1.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FLUR.NEO Franklin International Equity Index ETF | 1.76% | 2.40% | 2.76% | 2.71% | 2.95% | 1.85% | 1.97% | 3.07% | 0.00% | 0.00% | 0.00% |
ZLD.TO BMO Low Volatility International Equity Hedged to CAD ETF | 2.26% | 2.29% | 2.45% | 2.66% | 2.62% | 2.31% | 2.62% | 2.17% | 2.36% | 2.23% | 1.96% |
Frequently Asked Questions
ZLD.TO and FLUR.NEO have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLUR.NEO is cheaper at 0.27% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLUR.NEO is cheaper with a 0.27% expense ratio, compared with 0.40% for ZLD.TO.
They also come from different issuers: BMO and Franklin Templeton. Their fees differ too: 0.40% for ZLD.TO and 0.27% for FLUR.NEO.
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