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ZLH.TO vs. BRKY.NEO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZLH.TO vs. BRKY.NEO

Last updated Jul 17, 2026
Documentation

ZLH.TO (BMO Low Volatility US Equity Hedged to CAD ETF) and BRKY.NEO (Berkshire Hathaway Yield Shares Purpose ETF) are both Large Cap Blend Equities funds. Over the past 3 years, ZLH.TO returned 8.69%/yr vs 13.42%/yr for BRKY.NEO. At a 0.40 correlation, their price movements are largely independent. ZLH.TO charges 0.30%/yr vs 0.40%/yr for BRKY.NEO.

Performance

ZLH.TO vs. BRKY.NEO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Low Volatility US Equity Hedged to CAD ETF (ZLH.TO) and Berkshire Hathaway Yield Shares Purpose ETF (BRKY.NEO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ZLH.TO achieves a 9.24% return, which is significantly higher than BRKY.NEO's -3.22% return.

ZLH.TO

1D
1.38%
1M
0.91%
6M
6.33%
YTD
9.24%
1Y
9.74%
3Y*
8.69%
5Y*
6.51%
10Y*
7.35%

BRKY.NEO

1D
0.79%
1M
-0.42%
6M
-0.92%
YTD
-3.22%
1Y
2.40%
3Y*
13.42%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZLH.TO vs. BRKY.NEO - Yearly Performance Comparison

2026 (YTD)2025202420232022
ZLH.TO
BMO Low Volatility US Equity Hedged to CAD ETF		9.24%5.90%10.95%-2.11%0.40%
BRKY.NEO
Berkshire Hathaway Yield Shares Purpose ETF		-3.22%9.36%34.10%15.48%2.16%

Correlation

The correlation between ZLH.TO and BRKY.NEO is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.42

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

0.41

Correlation (All Time)
Calculated using the full available price history since Dec 19, 2022

0.40

ZLH.TO vs. BRKY.NEO - Sectors Allocation Comparison

Sectors
ZLH.TO
BRKY.NEO

Utilities

20.7%

-

Technology

18.7%

-

Healthcare

17.8%

-

Consumer Defensive

12.4%

-

Financial Services

11.7%
100.0%

Industrials

6.3%

-

Real Estate

3.4%

-

Consumer Cyclical

3.2%

-

Communication Services

3.0%

-

Basic Materials

2.2%

-

Energy

0.7%

-

Utilities

ZLH.TO
20.7%
BRKY.NEO

-

Technology

ZLH.TO
18.7%
BRKY.NEO

-

Healthcare

ZLH.TO
17.8%
BRKY.NEO

-

Consumer Defensive

ZLH.TO
12.4%
BRKY.NEO

-

Financial Services

ZLH.TO
11.7%
BRKY.NEO
100.0%

Industrials

ZLH.TO
6.3%
BRKY.NEO

-

Real Estate

ZLH.TO
3.4%
BRKY.NEO

-

Consumer Cyclical

ZLH.TO
3.2%
BRKY.NEO

-

Communication Services

ZLH.TO
3.0%
BRKY.NEO

-

Basic Materials

ZLH.TO
2.2%
BRKY.NEO

-

Energy

ZLH.TO
0.7%
BRKY.NEO

-

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 US Equity Hedged to CAD ETF

Berkshire Hathaway Yield Shares Purpose ETF

Often compared with ZLH.TO:
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Often compared with BRKY.NEO:
BRKY.NEO vs. BTCC-B.TOBRKY.NEO vs. CNCL.TOBRKY.NEO vs. ETSX.TOBRKY.NEO vs. PMM.TOBRKY.NEO vs. PSA.TOBRKY.NEO vs. YAMZ.NEOBRKY.NEO vs. BTCY.TO

Return for Risk

ZLH.TO vs. BRKY.NEO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZLH.TO
ZLH.TO Risk / Return Rank: 2929
Overall Rank
ZLH.TO Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
ZLH.TO Sortino Ratio Rank: 2626
Sortino Ratio Rank
ZLH.TO Omega Ratio Rank: 3030
Omega Ratio Rank
ZLH.TO Calmar Ratio Rank: 3232
Calmar Ratio Rank
ZLH.TO Martin Ratio Rank: 2828
Martin Ratio Rank
BRKY.NEO
BRKY.NEO Risk / Return Rank: 1212
Overall Rank
BRKY.NEO Sharpe Ratio Rank: 1212
Sharpe Ratio Rank
BRKY.NEO Sortino Ratio Rank: 1111
Sortino Ratio Rank
BRKY.NEO Omega Ratio Rank: 1111
Omega Ratio Rank
BRKY.NEO Calmar Ratio Rank: 1212
Calmar Ratio Rank
BRKY.NEO Martin Ratio Rank: 1212
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.

ZLH.TO vs. BRKY.NEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Low Volatility US Equity Hedged to CAD ETF (ZLH.TO) and Berkshire Hathaway Yield Shares Purpose ETF (BRKY.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.

ZLH.TOBRKY.NEODifference
Sharpe ratioReturn per unit of total volatility
0.90
0.16

+0.74

Sortino ratioReturn per unit of downside risk
1.22
0.33

+0.89

Omega ratioGain probability vs. loss probability

1.17

1.04

+0.13

Calmar ratioReturn relative to maximum drawdown

1.33

0.23

+1.10

Martin ratioReturn relative to average drawdown

3.22

0.48

+2.74

ZLH.TO vs. BRKY.NEO - Sharpe Ratio Comparison

The current ZLH.TO Sharpe Ratio is 0.90, which is higher than the BRKY.NEO Sharpe Ratio of 0.16. The chart below compares the historical Sharpe Ratios of ZLH.TO and BRKY.NEO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

ZLH.TO vs. BRKY.NEO - Drawdown Comparison

The maximum ZLH.TO drawdown since its inception was -33.34%, which is greater than BRKY.NEO's maximum drawdown of -17.42%. Use the drawdown chart below to compare losses from any high point for ZLH.TO and BRKY.NEO.

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Drawdown Indicators

ZLH.TOBRKY.NEODifference

Max Drawdown

Largest peak-to-trough decline

-33.34%

-17.42%

-15.92%

Max Drawdown (1Y)

Largest decline over 1 year

-7.35%

-10.55%

+3.20%

Max Drawdown (3Y)

Largest decline over 3 years

-10.17%

-17.42%

+7.25%

Max Drawdown (5Y)

Largest decline over 5 years

-14.66%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-33.34%

—

—

Current Drawdown

Current decline from peak

-1.98%

-12.33%

+10.35%

Average Drawdown

Average peak-to-trough decline

-3.90%

-5.86%

+1.96%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.03%

5.02%

-1.99%

Volatility

ZLH.TO vs. BRKY.NEO - Volatility Comparison

BMO Low Volatility US Equity Hedged to CAD ETF (ZLH.TO) has a higher volatility of 4.67% compared to Berkshire Hathaway Yield Shares Purpose ETF (BRKY.NEO) at 4.14%. This indicates that ZLH.TO's price experiences larger fluctuations and is considered to be riskier than BRKY.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZLH.TOBRKY.NEODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.67%

4.14%

+0.53%

Volatility (6M)

Calculated over the trailing 6-month period

7.88%

11.53%

-3.65%

Volatility (1Y)

Calculated over the trailing 1-year period

10.89%

15.08%

-4.19%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.29%

18.01%

-5.72%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.84%

18.01%

-4.17%

ZLH.TO vs. BRKY.NEO - Expense Ratio Comparison

ZLH.TO has a 0.30% expense ratio, which is lower than BRKY.NEO's 0.40% expense ratio.

Dividends

ZLH.TO vs. BRKY.NEO - Dividend Comparison

ZLH.TO's dividend yield for the trailing twelve months is around 1.74%, less than BRKY.NEO's 7.64% yield.

PositionTTM2025202420232022202120202019201820172016
BRKY.NEO
Berkshire Hathaway Yield Shares Purpose ETF		7.64%5.58%10.93%5.41%0.49%0.00%0.00%0.00%0.00%0.00%0.00%
ZLH.TO
BMO Low Volatility US Equity Hedged to CAD ETF		1.74%1.92%2.25%2.45%2.12%1.84%1.95%1.55%2.00%1.93%2.02%

Frequently Asked Questions

ZLH.TO and BRKY.NEO have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZLH.TO is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZLH.TO is cheaper with a 0.30% expense ratio, compared with 0.40% for BRKY.NEO.

They also come from different issuers: BMO and Purpose Investments. Their fees differ too: 0.30% for ZLH.TO and 0.40% for BRKY.NEO.

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