ZMID.TO vs. ZNQ.TO
ZMID.TO (BMO S&P US Mid Cap Index ETF) and ZNQ.TO (BMO NASDAQ 100 Equity Index ETF) are both exchange-traded funds - ZMID.TO is a Mid Cap Blend Equities fund managed by BMO, while ZNQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 5 years, ZMID.TO returned 11.31%/yr vs 19.23%/yr for ZNQ.TO. At a 0.43 correlation, their price movements are largely independent.
Performance
ZMID.TO vs. ZNQ.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZMID.TO achieves a 21.30% return, which is significantly lower than ZNQ.TO's 23.99% return.
ZMID.TO
- 1D
- 0.96%
- 1M
- 6.74%
- YTD
- 21.30%
- 6M
- 20.18%
- 1Y
- 29.13%
- 3Y*
- 17.22%
- 5Y*
- 11.31%
- 10Y*
- —
ZNQ.TO
- 1D
- 1.63%
- 1M
- 2.62%
- YTD
- 23.99%
- 6M
- 23.16%
- 1Y
- 39.20%
- 3Y*
- 29.08%
- 5Y*
- 19.23%
- 10Y*
- —
ZMID.TO vs. ZNQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ZMID.TO BMO S&P US Mid Cap Index ETF | 21.30% | 0.83% | 23.12% | 14.42% | -8.41% | 21.96% | 11.85% |
ZNQ.TO BMO NASDAQ 100 Equity Index ETF | 23.99% | 14.95% | 35.84% | 51.32% | -28.06% | 26.59% | 31.66% |
Correlation
The correlation between ZMID.TO and ZNQ.TO is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2020 | 0.43 |
The correlation between ZMID.TO and ZNQ.TO shifts across timeframes, from 0.43 (all time) to 0.55 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ZMID.TO vs. ZNQ.TO — Risk / Return Rank
ZMID.TO
ZNQ.TO
ZMID.TO vs. ZNQ.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO S&P US Mid Cap Index ETF (ZMID.TO) and BMO NASDAQ 100 Equity Index ETF (ZNQ.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.
| ZMID.TO | ZNQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.40 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.35 | 3.22 | +0.14 |
| Martin ratioReturn relative to average drawdown | 13.19 | 10.03 | +3.16 |
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Drawdowns
ZMID.TO vs. ZNQ.TO - Drawdown Comparison
The maximum ZMID.TO drawdown since its inception was -24.51%, smaller than the maximum ZNQ.TO drawdown of -32.09%. Use the drawdown chart below to compare losses from any high point for ZMID.TO and ZNQ.TO.
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Drawdown Indicators
| ZMID.TO | ZNQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.51% | -32.09% | +7.58% |
Max Drawdown (1Y)Largest decline over 1 year | -8.72% | -12.24% | +3.52% |
Max Drawdown (3Y)Largest decline over 3 years | -23.53% | -22.67% | -0.86% |
Max Drawdown (5Y)Largest decline over 5 years | -23.53% | -32.09% | +8.56% |
Current DrawdownCurrent decline from peak | 0.00% | -0.30% | +0.30% |
Average DrawdownAverage peak-to-trough decline | -5.69% | -6.59% | +0.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 3.92% | -1.71% |
Volatility
ZMID.TO vs. ZNQ.TO - Volatility Comparison
The current volatility for BMO S&P US Mid Cap Index ETF (ZMID.TO) is 3.74%, while BMO NASDAQ 100 Equity Index ETF (ZNQ.TO) has a volatility of 9.27%. This indicates that ZMID.TO experiences smaller price fluctuations and is considered to be less risky than ZNQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZMID.TO | ZNQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.74% | 9.27% | -5.53% |
Volatility (6M)Calculated over the trailing 6-month period | 12.31% | 14.58% | -2.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.31% | 17.76% | -1.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.08% | 21.15% | -3.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.41% | 22.46% | -3.05% |
Dividends
ZMID.TO vs. ZNQ.TO - Dividend Comparison
ZMID.TO's dividend yield for the trailing twelve months is around 0.88%, more than ZNQ.TO's 0.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
ZMID.TO BMO S&P US Mid Cap Index ETF | 0.88% | 1.08% | 1.14% | 1.67% | 1.39% | 1.03% | 1.24% | 0.00% |
ZNQ.TO BMO NASDAQ 100 Equity Index ETF | 0.20% | 0.25% | 0.30% | 0.35% | 0.23% | 0.12% | 0.47% | 0.52% |
Frequently Asked Questions
ZMID.TO and ZNQ.TO have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZMID.TO is categorized as Mid Cap Blend Equities, while ZNQ.TO is Nasdaq-100.
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