ZMI.TO vs. LDUR

Last updated Jun 4, 2026

ZMI.TO (BMO Monthly Income ETF) and LDUR (PIMCO Enhanced Low Duration Active ETF) are both exchange-traded funds - ZMI.TO is a Diversified Portfolio fund actively managed by BMO, while LDUR is a Short-Term Bond fund actively managed by PIMCO. Both are actively managed. Over the past 10 years, ZMI.TO returned 6.57%/yr vs 3.17%/yr for LDUR. At a correlation of -0.10, they often move in opposite directions. ZMI.TO charges 0.18%/yr vs 0.54%/yr for LDUR.

Performance

ZMI.TO vs. LDUR - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Monthly Income ETF (ZMI.TO) and PIMCO Enhanced Low Duration Active ETF (LDUR). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ZMI.TO is traded in CAD, while LDUR is traded in USD. To make them comparable, the LDUR values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ZMI.TO achieves a 9.05% return, which is significantly higher than LDUR's 2.19% return. Over the past 10 years, ZMI.TO has outperformed LDUR with an annualized return of 6.57%, while LDUR has yielded a comparatively lower 3.17% annualized 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%

LDUR

• 1D: 0.39%
• 1M: 2.15%
• YTD: 2.19%
• 6M: 0.90%
• 1Y: 5.72%
• 3Y*: 6.33%
• 5Y*: 5.15%
• 10Y*: 3.17%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ZMI.TO vs. LDUR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ZMI.TO BMO Monthly Income ETF	9.05%	7.88%	13.43%	9.00%	-5.89%	11.25%	2.40%	13.37%	-2.52%	4.84%
LDUR PIMCO Enhanced Low Duration Active ETF	2.19%	0.91%	14.17%	2.47%	2.60%	-1.45%	2.73%	-0.86%	9.62%	-4.44%

Correlation

The correlation between ZMI.TO and LDUR is 0.04, 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	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.00
Correlation (5Y) Calculated over the trailing 5-year period	-0.12
Correlation (10Y) Calculated over the trailing 10-year period	-0.09
Correlation (All Time) Calculated using the full available price history since Jan 24, 2014	-0.10

The correlation between ZMI.TO and LDUR shifts across timeframes, from -0.12 (5 years) to 0.04 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

ZMI.TO vs. LDUR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ZMI.TO

ZMI.TO Risk / Return Rank: 67
ZMI.TO Sharpe Ratio Rank: 68
ZMI.TO Sortino Ratio Rank: 62
ZMI.TO Omega Ratio Rank: 77
ZMI.TO Calmar Ratio Rank: 67
ZMI.TO Martin Ratio Rank: 61

LDUR

LDUR Risk / Return Rank: 88
LDUR Sharpe Ratio Rank: 85
LDUR Sortino Ratio Rank: 91
LDUR Omega Ratio Rank: 88
LDUR Calmar Ratio Rank: 85
LDUR Martin Ratio Rank: 92

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.

ZMI.TO vs. LDUR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Monthly Income ETF (ZMI.TO) and PIMCO Enhanced Low Duration Active ETF (LDUR). 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	LDUR	Difference
Sharpe ratio: Return per unit of total volatility	2.25	1.23	+1.02
Sortino ratio: Return per unit of downside risk	2.96	1.74	+1.23
Omega ratio: Gain probability vs. loss probability	1.47	1.22	+0.24
Calmar ratio: Return relative to maximum drawdown	3.36	1.58	+1.78
Martin ratio: Return relative to average drawdown	10.99	4.24	+6.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZMI.TO vs. LDUR - Sharpe Ratio Comparison

The current ZMI.TO Sharpe Ratio is 2.25, which is higher than the LDUR Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of ZMI.TO and LDUR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ZMI.TO	LDUR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.25	1.23	+1.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.05	0.81	+0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	0.45	+0.30
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	0.58	+0.19

Drawdowns

ZMI.TO vs. LDUR - Drawdown Comparison

The maximum ZMI.TO drawdown since its inception was -26.65%, which is greater than LDUR's maximum drawdown of -12.93%. Use the drawdown chart below to compare losses from any high point for ZMI.TO and LDUR.

Drawdown Indicators

	ZMI.TO	LDUR	Difference
Max Drawdown Largest peak-to-trough decline	-26.65%	-12.93%	-13.72%
Max Drawdown (1Y) Largest decline over 1 year	-4.75%	-3.63%	-1.12%
Max Drawdown (3Y) Largest decline over 3 years	-8.81%	-5.65%	-3.16%
Max Drawdown (5Y) Largest decline over 5 years	-12.65%	-6.62%	-6.03%
Max Drawdown (10Y) Largest decline over 10 years	-26.65%	-12.14%	-14.51%
Current Drawdown Current decline from peak	-0.17%	-0.08%	-0.09%
Average Drawdown Average peak-to-trough decline	-2.12%	-4.26%	+2.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.45%	1.35%	+0.10%

Volatility

ZMI.TO vs. LDUR - Volatility Comparison

BMO Monthly Income ETF (ZMI.TO) has a higher volatility of 2.27% compared to PIMCO Enhanced Low Duration Active ETF (LDUR) at 0.73%. This indicates that ZMI.TO's price experiences larger fluctuations and is considered to be riskier than LDUR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZMI.TO	LDUR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.27%	0.73%	+1.54%
Volatility (6M) Calculated over the trailing 6-month period	5.80%	3.49%	+2.31%
Volatility (1Y) Calculated over the trailing 1-year period	7.10%	4.66%	+2.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.44%	6.41%	+1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.87%	7.07%	+1.80%

ZMI.TO vs. LDUR - Expense Ratio Comparison

ZMI.TO has a 0.18% expense ratio, which is lower than LDUR's 0.54% expense ratio.

Dividends

ZMI.TO vs. LDUR - Dividend Comparison

ZMI.TO's dividend yield for the trailing twelve months is around 3.93%, less than LDUR's 4.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LDUR PIMCO Enhanced Low Duration Active ETF	4.35%	4.60%	4.77%	4.11%	2.22%	0.90%	2.15%	3.14%	2.66%	2.08%	1.85%	2.92%
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

Can I hold both ZMI.TO and LDUR in my portfolio?

ZMI.TO and LDUR have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZMI.TO or LDUR?

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.

Which ETF is cheaper, ZMI.TO or LDUR?

ZMI.TO is cheaper with a 0.18% expense ratio, compared with 0.54% for LDUR.

What is the main difference between ZMI.TO and LDUR?

ZMI.TO is categorized as Diversified Portfolio, while LDUR is Short-Term Bond. They also come from different issuers: BMO and PIMCO. Their fees differ too: 0.18% for ZMI.TO and 0.54% for LDUR.