ZLH.TO vs. XUU-U.TO
ZLH.TO (BMO Low Volatility US Equity Hedged to CAD ETF) and XUU-U.TO (iShares Core S&P U.S. Total Market Index ETF) are both Large Cap Blend Equities funds. Over the past 5 years, ZLH.TO returned 6.51%/yr vs 14.50%/yr for XUU-U.TO. At a 0.13 correlation, their price movements are largely independent. ZLH.TO charges 0.30%/yr vs 0.08%/yr for XUU-U.TO.
Performance
ZLH.TO vs. XUU-U.TO - Performance Comparison
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Different Trading Currencies
ZLH.TO is traded in CAD, while XUU-U.TO is traded in USD. To make them comparable, the XUU-U.TO values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, ZLH.TO achieves a 9.24% return, which is significantly lower than XUU-U.TO's 13.00% 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%
XUU-U.TO
- 1D
- -0.53%
- 1M
- 1.28%
- 6M
- 9.53%
- YTD
- 13.00%
- 1Y
- 22.76%
- 3Y*
- 21.32%
- 5Y*
- 14.50%
- 10Y*
- —
ZLH.TO vs. XUU-U.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ZLH.TO BMO Low Volatility US Equity Hedged to CAD ETF | 9.24% | 5.90% | 10.95% | -2.11% | 0.20% | 22.07% | 2.34% | 2.17% |
XUU-U.TO iShares Core S&P U.S. Total Market Index ETF | 13.00% | 11.40% | 33.28% | 23.90% | -15.09% | 28.35% | 16.34% | 6.82% |
Correlation
The correlation between ZLH.TO and XUU-U.TO is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2019 | 0.13 |
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Return for Risk
ZLH.TO vs. XUU-U.TO — Risk / Return Rank
ZLH.TO
XUU-U.TO
ZLH.TO vs. XUU-U.TO - 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 iShares Core S&P U.S. Total Market Index ETF (XUU-U.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.
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.TO | XUU-U.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.87 | ||
| Sortino ratioReturn per unit of downside risk | -1.27 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.33 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.33 | 2.54 | -1.21 |
| Martin ratioReturn relative to average drawdown | 3.22 | 9.59 | -6.38 |
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Drawdowns
ZLH.TO vs. XUU-U.TO - Drawdown Comparison
The maximum ZLH.TO drawdown since its inception was -33.34%, which is greater than XUU-U.TO's maximum drawdown of -24.00%. Use the drawdown chart below to compare losses from any high point for ZLH.TO and XUU-U.TO.
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Drawdown Indicators
| ZLH.TO | XUU-U.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.34% | -24.00% | -9.34% |
Max Drawdown (1Y)Largest decline over 1 year | -7.35% | -9.04% | +1.69% |
Max Drawdown (3Y)Largest decline over 3 years | -10.17% | -20.43% | +10.26% |
Max Drawdown (5Y)Largest decline over 5 years | -14.66% | -22.44% | +7.78% |
Max Drawdown (10Y)Largest decline over 10 years | -33.34% | — | — |
Current DrawdownCurrent decline from peak | -1.98% | -2.08% | +0.10% |
Average DrawdownAverage peak-to-trough decline | -3.90% | -4.80% | +0.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.03% | 2.38% | +0.65% |
Volatility
ZLH.TO vs. XUU-U.TO - Volatility Comparison
BMO Low Volatility US Equity Hedged to CAD ETF (ZLH.TO) has a higher volatility of 4.67% compared to iShares Core S&P U.S. Total Market Index ETF (XUU-U.TO) at 3.30%. This indicates that ZLH.TO's price experiences larger fluctuations and is considered to be riskier than XUU-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZLH.TO | XUU-U.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.67% | 3.30% | +1.37% |
Volatility (6M)Calculated over the trailing 6-month period | 7.88% | 10.50% | -2.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.89% | 13.01% | -2.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.29% | 17.25% | -4.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.84% | 17.97% | -4.13% |
ZLH.TO vs. XUU-U.TO - Expense Ratio Comparison
ZLH.TO has a 0.30% expense ratio, which is higher than XUU-U.TO's 0.08% expense ratio.
Dividends
ZLH.TO vs. XUU-U.TO - Dividend Comparison
ZLH.TO's dividend yield for the trailing twelve months is around 1.74%, more than XUU-U.TO's 1.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
XUU-U.TO iShares Core S&P U.S. Total Market Index ETF | 1.05% | 1.15% | 1.05% | 1.14% | 1.32% | 0.97% | 1.21% | 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 XUU-U.TO have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUU-U.TO is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUU-U.TO is cheaper with a 0.08% expense ratio, compared with 0.30% for ZLH.TO.
They also come from different issuers: BMO and iShares. Their fees differ too: 0.30% for ZLH.TO and 0.08% for XUU-U.TO.
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