ZMI.TO vs. FEQT.NEO
ZMI.TO (BMO Monthly Income ETF) and FEQT.NEO (Fidelity All-in-One Equity ETF Fund) are both Diversified Portfolio funds. Both are actively managed. Over the past year, ZMI.TO returned 15.92% vs 24.74% for FEQT.NEO. A 0.76 correlation means they provide meaningful diversification when combined. ZMI.TO charges 0.18%/yr vs 0.43%/yr for FEQT.NEO.
Performance
ZMI.TO vs. FEQT.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, ZMI.TO achieves a 9.05% return, which is significantly lower than FEQT.NEO's 10.30% return.
ZMI.TO
- 1D
- 0.00%
- 1M
- 4.38%
- YTD
- 9.05%
- 6M
- 5.77%
- 1Y
- 15.92%
- 3Y*
- 12.30%
- 5Y*
- 7.74%
- 10Y*
- 6.57%
FEQT.NEO
- 1D
- -0.38%
- 1M
- 4.01%
- YTD
- 10.30%
- 6M
- 10.63%
- 1Y
- 24.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZMI.TO vs. FEQT.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ZMI.TO BMO Monthly Income ETF | 9.05% | 7.88% | 8.33% |
FEQT.NEO Fidelity All-in-One Equity ETF Fund | 10.30% | 19.42% | 14.08% |
Correlation
The correlation between ZMI.TO and FEQT.NEO is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since May 14, 2024 | 0.76 |
The correlation between ZMI.TO and FEQT.NEO has been stable across timeframes, ranging from 0.76 to 0.80 - a consistent structural relationship.
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Return for Risk
ZMI.TO vs. FEQT.NEO — Risk / Return Rank
ZMI.TO
FEQT.NEO
ZMI.TO vs. FEQT.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Monthly Income ETF (ZMI.TO) and Fidelity All-in-One Equity ETF Fund (FEQT.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.
| ZMI.TO | FEQT.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.42 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.36 | 2.99 | +0.37 |
| Martin ratioReturn relative to average drawdown | 10.99 | 12.96 | -1.97 |
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
| ZMI.TO | FEQT.NEO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.25 | 2.26 | 0.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.05 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.74 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 1.77 | -1.00 |
Drawdowns
ZMI.TO vs. FEQT.NEO - Drawdown Comparison
The maximum ZMI.TO drawdown since its inception was -26.65%, which is greater than FEQT.NEO's maximum drawdown of -13.24%. Use the drawdown chart below to compare losses from any high point for ZMI.TO and FEQT.NEO.
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Drawdown Indicators
| ZMI.TO | FEQT.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.65% | -13.24% | -13.41% |
Max Drawdown (1Y)Largest decline over 1 year | -4.75% | -8.31% | +3.56% |
Max Drawdown (3Y)Largest decline over 3 years | -8.81% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -12.65% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -26.65% | — | — |
Current DrawdownCurrent decline from peak | -0.17% | -1.02% | +0.85% |
Average DrawdownAverage peak-to-trough decline | -2.12% | -1.45% | -0.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 1.91% | -0.46% |
Volatility
ZMI.TO vs. FEQT.NEO - Volatility Comparison
The current volatility for BMO Monthly Income ETF (ZMI.TO) is 2.27%, while Fidelity All-in-One Equity ETF Fund (FEQT.NEO) has a volatility of 3.89%. This indicates that ZMI.TO experiences smaller price fluctuations and is considered to be less risky than FEQT.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZMI.TO | FEQT.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.27% | 3.89% | -1.62% |
Volatility (6M)Calculated over the trailing 6-month period | 5.80% | 8.88% | -3.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.10% | 11.01% | -3.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.44% | 12.45% | -5.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.87% | 12.45% | -3.58% |
ZMI.TO vs. FEQT.NEO - Expense Ratio Comparison
ZMI.TO has a 0.18% expense ratio, which is lower than FEQT.NEO's 0.43% expense ratio.
Dividends
ZMI.TO vs. FEQT.NEO - Dividend Comparison
ZMI.TO's dividend yield for the trailing twelve months is around 3.93%, more than FEQT.NEO's 0.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FEQT.NEO Fidelity All-in-One Equity ETF Fund | 0.82% | 0.91% | 0.91% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZMI.TO BMO Monthly Income ETF | 3.93% | 4.54% | 4.68% | 4.94% | 4.49% | 3.71% | 4.21% | 4.24% | 4.58% | 4.06% | 3.89% | 3.89% |
Frequently Asked Questions
ZMI.TO and FEQT.NEO have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZMI.TO is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZMI.TO is cheaper with a 0.18% expense ratio, compared with 0.43% for FEQT.NEO.
They also come from different issuers: BMO and Fidelity. Their fees differ too: 0.18% for ZMI.TO and 0.43% for FEQT.NEO.
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