ZMBS.TO vs. ZQQ.TO
ZMBS.TO (BMO Canadian MBS Index ETF) and ZQQ.TO (BMO NASDAQ 100 Equity (CAD Hedged)) are both exchange-traded funds - ZMBS.TO is a Mortgage Backed Securities fund managed by BMO, while ZQQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 5 years, ZMBS.TO returned 1.72%/yr vs 13.78%/yr for ZQQ.TO. At a 0.01 correlation, their price movements are largely independent.
Performance
ZMBS.TO vs. ZQQ.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZMBS.TO achieves a 1.27% return, which is significantly lower than ZQQ.TO's 18.49% return.
ZMBS.TO
- 1D
- -0.33%
- 1M
- 0.30%
- YTD
- 1.27%
- 6M
- 1.27%
- 1Y
- 1.45%
- 3Y*
- 4.10%
- 5Y*
- 1.72%
- 10Y*
- —
ZQQ.TO
- 1D
- 1.60%
- 1M
- -0.35%
- YTD
- 18.49%
- 6M
- 17.55%
- 1Y
- 26.82%
- 3Y*
- 22.92%
- 5Y*
- 13.78%
- 10Y*
- 19.81%
ZMBS.TO vs. ZQQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ZMBS.TO BMO Canadian MBS Index ETF | 1.27% | 2.27% | 5.20% | 3.90% | -3.11% | -0.72% | 3.54% |
ZQQ.TO BMO NASDAQ 100 Equity (CAD Hedged) | 18.49% | 14.59% | 24.00% | 52.52% | -33.75% | 26.68% | 31.77% |
Correlation
The correlation between ZMBS.TO and ZQQ.TO is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 13, 2020 | 0.01 |
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Return for Risk
ZMBS.TO vs. ZQQ.TO — Risk / Return Rank
ZMBS.TO
ZQQ.TO
ZMBS.TO vs. ZQQ.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Canadian MBS Index ETF (ZMBS.TO) and BMO NASDAQ 100 Equity (CAD Hedged) (ZQQ.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.
| ZMBS.TO | ZQQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.18 | ||
| Sortino ratioReturn per unit of downside risk | -1.56 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.27 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.50 | 1.72 | -1.22 |
| Martin ratioReturn relative to average drawdown | 0.91 | 5.44 | -4.53 |
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Drawdowns
ZMBS.TO vs. ZQQ.TO - Drawdown Comparison
The maximum ZMBS.TO drawdown since its inception was -5.53%, smaller than the maximum ZQQ.TO drawdown of -36.39%. Use the drawdown chart below to compare losses from any high point for ZMBS.TO and ZQQ.TO.
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Drawdown Indicators
| ZMBS.TO | ZQQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.53% | -36.39% | +30.86% |
Max Drawdown (1Y)Largest decline over 1 year | -2.89% | -15.65% | +12.76% |
Max Drawdown (3Y)Largest decline over 3 years | -2.89% | -22.79% | +19.90% |
Max Drawdown (5Y)Largest decline over 5 years | -5.41% | -36.39% | +30.98% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.39% | — |
Current DrawdownCurrent decline from peak | -1.49% | -1.39% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -1.41% | -5.46% | +4.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.60% | 4.94% | -3.34% |
Volatility
ZMBS.TO vs. ZQQ.TO - Volatility Comparison
The current volatility for BMO Canadian MBS Index ETF (ZMBS.TO) is 0.64%, while BMO NASDAQ 100 Equity (CAD Hedged) (ZQQ.TO) has a volatility of 9.57%. This indicates that ZMBS.TO experiences smaller price fluctuations and is considered to be less risky than ZQQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZMBS.TO | ZQQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 9.57% | -8.93% |
Volatility (6M)Calculated over the trailing 6-month period | 1.54% | 14.82% | -13.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.09% | 18.32% | -13.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.04% | 22.94% | -19.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.77% | 22.54% | -19.77% |
Dividends
ZMBS.TO vs. ZQQ.TO - Dividend Comparison
ZMBS.TO's dividend yield for the trailing twelve months is around 2.84%, more than ZQQ.TO's 0.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZMBS.TO BMO Canadian MBS Index ETF | 2.84% | 2.24% | 1.47% | 1.51% | 1.68% | 1.60% | 1.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZQQ.TO BMO NASDAQ 100 Equity (CAD Hedged) | 0.22% | 0.27% | 0.37% | 0.32% | 0.45% | 0.14% | 0.41% | 0.51% | 0.64% | 0.57% | 1.60% | 0.81% |
Frequently Asked Questions
ZMBS.TO and ZQQ.TO have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZMBS.TO is categorized as Mortgage Backed Securities, while ZQQ.TO is Nasdaq-100.
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