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ZLSC.TO vs. ZMMK.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZLSC.TO vs. ZMMK.TO

Last updated Jun 4, 2026

ZLSC.TO (BMO Long Short Canadian Equity ETF) and ZMMK.TO (BMO Money Market Fund ETF Series) are both exchange-traded funds - ZLSC.TO is a Long-Short fund actively managed by BMO, while ZMMK.TO is a Money Market fund actively managed by BMO. Both are actively managed. Over the past year, ZLSC.TO returned 23.24% vs 2.50% for ZMMK.TO. At a 0.03 correlation, their price movements are largely independent. ZLSC.TO charges 0.73%/yr vs 0.13%/yr for ZMMK.TO.

Performance

ZLSC.TO vs. ZMMK.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Long Short Canadian Equity ETF (ZLSC.TO) and BMO Money Market Fund ETF Series (ZMMK.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ZLSC.TO achieves a 9.57% return, which is significantly higher than ZMMK.TO's 0.99% return.

ZLSC.TO

1D
0.85%
1M
2.25%
YTD
9.57%
6M
10.95%
1Y
23.24%
3Y*
—
5Y*
—
10Y*
—

ZMMK.TO

1D
0.04%
1M
0.19%
YTD
0.99%
6M
1.17%
1Y
2.50%
3Y*
3.86%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZLSC.TO vs. ZMMK.TO - Yearly Performance Comparison

2026 (YTD)202520242023
ZLSC.TO
BMO Long Short Canadian Equity ETF		9.57%20.54%21.20%4.25%
ZMMK.TO
BMO Money Market Fund ETF Series		0.99%2.77%4.94%1.27%

Correlation

The correlation between ZLSC.TO and ZMMK.TO is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

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

0.08

Correlation (All Time)
Calculated using the full available price history since Oct 2, 2023

0.03

Compare stocks, funds, or ETFs

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

BMO Long Short Canadian Equity ETF

BMO Money Market Fund ETF Series

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Often compared with ZMMK.TO:
ZMMK.TO vs. CASH.TOZMMK.TO vs. CMR.TOZMMK.TO vs. CBIL.TOZMMK.TO vs. HSAV.TOZMMK.TO vs. ZAG.TOZMMK.TO vs. PSA.TOZMMK.TO vs. TCSH.TO

Return for Risk

ZLSC.TO vs. ZMMK.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZLSC.TO
ZLSC.TO Risk / Return Rank: 9191
Overall Rank
ZLSC.TO Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
ZLSC.TO Sortino Ratio Rank: 9090
Sortino Ratio Rank
ZLSC.TO Omega Ratio Rank: 9393
Omega Ratio Rank
ZLSC.TO Calmar Ratio Rank: 8787
Calmar Ratio Rank
ZLSC.TO Martin Ratio Rank: 9393
Martin Ratio Rank
ZMMK.TO
ZMMK.TO Risk / Return Rank: 100100
Overall Rank
ZMMK.TO Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
ZMMK.TO Sortino Ratio Rank: 100100
Sortino Ratio Rank
ZMMK.TO Omega Ratio Rank: 9999
Omega Ratio Rank
ZMMK.TO Calmar Ratio Rank: 100100
Calmar Ratio Rank
ZMMK.TO Martin Ratio Rank: 100100
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.

ZLSC.TO vs. ZMMK.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Long Short Canadian Equity ETF (ZLSC.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.

ZLSC.TOZMMK.TODifference
Sharpe ratioReturn per unit of total volatility
3.08
9.68

-6.61

Sortino ratioReturn per unit of downside risk
4.17
24.12

-19.94

Omega ratioGain probability vs. loss probability

1.65

5.48

-3.83

Calmar ratioReturn relative to maximum drawdown

4.91

83.57

-78.66

Martin ratioReturn relative to average drawdown

25.11

380.38

-355.27

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

ZLSC.TO vs. ZMMK.TO - Sharpe Ratio Comparison

The current ZLSC.TO Sharpe Ratio is 3.08, which is lower than the ZMMK.TO Sharpe Ratio of 9.68. The chart below compares the historical Sharpe Ratios of ZLSC.TO and ZMMK.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.

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Sharpe Ratios by Period

ZLSC.TOZMMK.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.08

9.68

-6.61

Sharpe Ratio (All Time)

Calculated using the full available price history

2.55

10.31

-7.76

Drawdowns

ZLSC.TO vs. ZMMK.TO - Drawdown Comparison

The maximum ZLSC.TO drawdown since its inception was -8.37%, 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 ZLSC.TO and ZMMK.TO.

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Drawdown Indicators

ZLSC.TOZMMK.TODifference

Max Drawdown

Largest peak-to-trough decline

-8.37%

-0.16%

-8.21%

Max Drawdown (1Y)

Largest decline over 1 year

-4.75%

-0.03%

-4.72%

Max Drawdown (3Y)

Largest decline over 3 years

—

-0.08%

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-0.75%

-0.00%

-0.75%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.93%

0.01%

+0.92%

Volatility

ZLSC.TO vs. ZMMK.TO - Volatility Comparison

BMO Long Short Canadian Equity ETF (ZLSC.TO) has a higher volatility of 1.46% compared to BMO Money Market Fund ETF Series (ZMMK.TO) at 0.06%. This indicates that ZLSC.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

ZLSC.TOZMMK.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.46%

0.06%

+1.40%

Volatility (6M)

Calculated over the trailing 6-month period

5.88%

0.18%

+5.70%

Volatility (1Y)

Calculated over the trailing 1-year period

7.59%

0.26%

+7.33%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.33%

0.34%

+7.99%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.33%

0.34%

+7.99%

ZLSC.TO vs. ZMMK.TO - Expense Ratio Comparison

ZLSC.TO has a 0.73% expense ratio, which is higher than ZMMK.TO's 0.13% expense ratio.

Dividends

ZLSC.TO vs. ZMMK.TO - Dividend Comparison

ZLSC.TO's dividend yield for the trailing twelve months is around 1.19%, less than ZMMK.TO's 2.53% yield.

PositionTTM20252024202320222021
ZLSC.TO
BMO Long Short Canadian Equity ETF		1.19%1.45%2.22%0.90%0.00%0.00%
ZMMK.TO
BMO Money Market Fund ETF Series		2.53%3.02%4.66%4.98%1.95%0.04%

Frequently Asked Questions

ZLSC.TO and ZMMK.TO have a correlation of 0.08, 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 0.73% for ZLSC.TO.

ZLSC.TO is categorized as Long-Short, while ZMMK.TO is Money Market. Their fees differ too: 0.73% for ZLSC.TO and 0.13% for ZMMK.TO.

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