ZLU.TO vs. ZEB.TO
ZLU.TO (BMO Low Volatility US Equity ETF (CAD)) and ZEB.TO (BMO Equal Weight Banks Index ETF) are both exchange-traded funds - ZLU.TO is a Large Cap Blend Equities fund actively managed by BMO, while ZEB.TO is a Financials Equities fund tracking the Solactive Equal Weight Canada Banks Index. ZLU.TO is actively managed, while ZEB.TO is passively managed. Over the past 10 years, ZLU.TO returned 9.43%/yr vs 15.82%/yr for ZEB.TO. At a 0.25 correlation, their price movements are largely independent. ZLU.TO charges 0.33%/yr vs 0.25%/yr for ZEB.TO.
Performance
ZLU.TO vs. ZEB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZLU.TO achieves a 9.40% return, which is significantly lower than ZEB.TO's 19.22% return. Over the past 10 years, ZLU.TO has underperformed ZEB.TO with an annualized return of 9.43%, while ZEB.TO has yielded a comparatively higher 15.82% annualized return.
ZLU.TO
- 1D
- -0.14%
- 1M
- 4.18%
- YTD
- 9.40%
- 6M
- 3.31%
- 1Y
- 9.98%
- 3Y*
- 10.83%
- 5Y*
- 10.19%
- 10Y*
- 9.43%
ZEB.TO
- 1D
- -0.43%
- 1M
- 5.51%
- YTD
- 19.22%
- 6M
- 24.72%
- 1Y
- 60.22%
- 3Y*
- 32.73%
- 5Y*
- 18.18%
- 10Y*
- 15.82%
ZLU.TO vs. ZEB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZLU.TO BMO Low Volatility US Equity ETF (CAD) | 9.40% | 1.95% | 21.52% | -3.36% | 7.85% | 20.62% | 1.98% | 20.39% | 8.31% | 4.98% |
ZEB.TO BMO Equal Weight Banks Index ETF | 19.22% | 43.43% | 24.58% | 10.87% | -10.38% | 39.38% | 3.52% | 16.06% | -8.85% | 14.26% |
Correlation
The correlation between ZLU.TO and ZEB.TO is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Apr 9, 2013 | 0.25 |
ZLU.TO vs. ZEB.TO - Sectors Allocation Comparison
Sectors
ZLU.TO
ZEB.TO
Utilities
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Technology
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Healthcare
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Consumer Defensive
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Financial Services
Industrials
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Real Estate
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Consumer Cyclical
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Communication Services
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Basic Materials
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Energy
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Utilities
ZLU.TO
ZEB.TO
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Technology
ZLU.TO
ZEB.TO
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Healthcare
ZLU.TO
ZEB.TO
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Consumer Defensive
ZLU.TO
ZEB.TO
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Financial Services
ZLU.TO
ZEB.TO
Industrials
ZLU.TO
ZEB.TO
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Real Estate
ZLU.TO
ZEB.TO
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Consumer Cyclical
ZLU.TO
ZEB.TO
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Communication Services
ZLU.TO
ZEB.TO
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Basic Materials
ZLU.TO
ZEB.TO
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Energy
ZLU.TO
ZEB.TO
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Return for Risk
ZLU.TO vs. ZEB.TO — Risk / Return Rank
ZLU.TO
ZEB.TO
ZLU.TO vs. ZEB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Low Volatility US Equity ETF (CAD) (ZLU.TO) and BMO Equal Weight Banks Index ETF (ZEB.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.
| ZLU.TO | ZEB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.84 | ||
| Sortino ratioReturn per unit of downside risk | -5.22 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.90 | -0.72 |
| Calmar ratioReturn relative to maximum drawdown | 1.33 | 7.17 | -5.84 |
| Martin ratioReturn relative to average drawdown | 3.38 | 30.84 | -27.47 |
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
| ZLU.TO | ZEB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.96 | 4.79 | -3.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.90 | 1.35 | -0.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | 0.94 | -0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.97 | 0.88 | +0.09 |
Drawdowns
ZLU.TO vs. ZEB.TO - Drawdown Comparison
The maximum ZLU.TO drawdown since its inception was -25.49%, smaller than the maximum ZEB.TO drawdown of -39.69%. Use the drawdown chart below to compare losses from any high point for ZLU.TO and ZEB.TO.
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Drawdown Indicators
| ZLU.TO | ZEB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.49% | -39.69% | +14.20% |
Max Drawdown (1Y)Largest decline over 1 year | -7.53% | -8.44% | +0.91% |
Max Drawdown (3Y)Largest decline over 3 years | -9.17% | -14.80% | +5.63% |
Max Drawdown (5Y)Largest decline over 5 years | -10.40% | -25.97% | +15.57% |
Max Drawdown (10Y)Largest decline over 10 years | -25.49% | -39.69% | +14.20% |
Current DrawdownCurrent decline from peak | -2.03% | -2.00% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -3.11% | -5.65% | +2.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.97% | 1.96% | +1.01% |
Volatility
ZLU.TO vs. ZEB.TO - Volatility Comparison
The current volatility for BMO Low Volatility US Equity ETF (CAD) (ZLU.TO) is 2.85%, while BMO Equal Weight Banks Index ETF (ZEB.TO) has a volatility of 4.89%. This indicates that ZLU.TO experiences smaller price fluctuations and is considered to be less risky than ZEB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZLU.TO | ZEB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.85% | 4.89% | -2.04% |
Volatility (6M)Calculated over the trailing 6-month period | 8.51% | 11.14% | -2.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.46% | 12.62% | -2.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.34% | 13.52% | -2.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.91% | 16.91% | -3.00% |
ZLU.TO vs. ZEB.TO - Expense Ratio Comparison
ZLU.TO has a 0.33% expense ratio, which is higher than ZEB.TO's 0.25% expense ratio.
Dividends
ZLU.TO vs. ZEB.TO - Dividend Comparison
ZLU.TO's dividend yield for the trailing twelve months is around 1.73%, less than ZEB.TO's 2.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZEB.TO BMO Equal Weight Banks Index ETF | 2.54% | 2.95% | 3.98% | 4.75% | 4.29% | 3.13% | 4.15% | 3.65% | 3.64% | 3.02% | 3.19% | 3.70% |
ZLU.TO BMO Low Volatility US Equity ETF (CAD) | 1.73% | 1.89% | 1.89% | 2.29% | 1.87% | 1.69% | 1.75% | 1.51% | 1.81% | 1.91% | 2.26% | 1.73% |
Frequently Asked Questions
ZLU.TO and ZEB.TO have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZEB.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZEB.TO is cheaper with a 0.25% expense ratio, compared with 0.33% for ZLU.TO.
ZLU.TO is categorized as Large Cap Blend Equities, while ZEB.TO is Financials Equities. Their fees differ too: 0.33% for ZLU.TO and 0.25% for ZEB.TO.
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