ZMMK.TO vs. FIE.TO
ZMMK.TO (BMO Money Market Fund ETF Series) and FIE.TO (iShares Canadian Financial Monthly Income ETF) are both exchange-traded funds - ZMMK.TO is a Money Market fund actively managed by BMO, while FIE.TO is a Canada Equities fund tracking the Morningstar Can Equity Tgt Alloc NR CAD. ZMMK.TO is actively managed, while FIE.TO is passively managed. Over the past 3 years, ZMMK.TO returned 3.84%/yr vs 24.56%/yr for FIE.TO. At a 0.04 correlation, their price movements are largely independent. ZMMK.TO charges 0.13%/yr vs 0.85%/yr for FIE.TO.
Performance
ZMMK.TO vs. FIE.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ZMMK.TO achieves a 1.03% return, which is significantly lower than FIE.TO's 12.21% return.
ZMMK.TO
- 1D
- 0.02%
- 1M
- 0.19%
- YTD
- 1.03%
- 6M
- 1.17%
- 1Y
- 2.48%
- 3Y*
- 3.84%
- 5Y*
- —
- 10Y*
- —
FIE.TO
- 1D
- 0.64%
- 1M
- 5.26%
- YTD
- 12.21%
- 6M
- 10.27%
- 1Y
- 31.71%
- 3Y*
- 24.56%
- 5Y*
- 12.62%
- 10Y*
- 11.99%
ZMMK.TO vs. FIE.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ZMMK.TO BMO Money Market Fund ETF Series | 1.03% | 2.77% | 4.94% | 4.86% | 1.99% | 0.04% |
FIE.TO iShares Canadian Financial Monthly Income ETF | 12.21% | 24.36% | 27.62% | 12.58% | -14.35% | 2.30% |
Correlation
The correlation between ZMMK.TO and FIE.TO is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2021 | 0.04 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ZMMK.TO vs. FIE.TO — Risk / Return Rank
ZMMK.TO
FIE.TO
ZMMK.TO vs. FIE.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Money Market Fund ETF Series (ZMMK.TO) and iShares Canadian Financial Monthly Income ETF (FIE.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.
| ZMMK.TO | FIE.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +5.70 | ||
| Sortino ratioReturn per unit of downside risk | +17.36 | ||
| Omega ratioGain probability vs. loss probability | 5.22 | 1.67 | +3.55 |
| Calmar ratioReturn relative to maximum drawdown | 62.17 | 4.32 | +57.85 |
| Martin ratioReturn relative to average drawdown | 348.17 | 14.05 | +334.12 |
Loading charts...
Drawdowns
ZMMK.TO vs. FIE.TO - Drawdown Comparison
The maximum ZMMK.TO drawdown since its inception was -0.16%, smaller than the maximum FIE.TO drawdown of -42.24%. Use the drawdown chart below to compare losses from any high point for ZMMK.TO and FIE.TO.
Loading charts...
Drawdown Indicators
| ZMMK.TO | FIE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.16% | -42.24% | +42.08% |
Max Drawdown (1Y)Largest decline over 1 year | -0.04% | -7.19% | +7.15% |
Max Drawdown (3Y)Largest decline over 3 years | -0.08% | -10.70% | +10.62% |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.93% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.24% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -4.89% | +4.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 2.21% | -2.20% |
Volatility
ZMMK.TO vs. FIE.TO - Volatility Comparison
The current volatility for BMO Money Market Fund ETF Series (ZMMK.TO) is 0.08%, while iShares Canadian Financial Monthly Income ETF (FIE.TO) has a volatility of 2.93%. This indicates that ZMMK.TO experiences smaller price fluctuations and is considered to be less risky than FIE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ZMMK.TO | FIE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.08% | 2.93% | -2.85% |
Volatility (6M)Calculated over the trailing 6-month period | 0.19% | 7.86% | -7.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.27% | 9.04% | -8.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.34% | 10.56% | -10.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.34% | 14.08% | -13.74% |
ZMMK.TO vs. FIE.TO - Expense Ratio Comparison
ZMMK.TO has a 0.13% expense ratio, which is lower than FIE.TO's 0.85% expense ratio.
Dividends
ZMMK.TO vs. FIE.TO - Dividend Comparison
ZMMK.TO's dividend yield for the trailing twelve months is around 2.53%, less than FIE.TO's 4.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIE.TO iShares Canadian Financial Monthly Income ETF | 4.44% | 4.94% | 5.83% | 6.98% | 7.31% | 5.92% | 7.10% | 6.65% | 7.38% | 6.28% | 6.59% | 7.43% |
ZMMK.TO BMO Money Market Fund ETF Series | 2.53% | 3.02% | 4.66% | 4.98% | 1.95% | 0.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZMMK.TO and FIE.TO have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZMMK.TO is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZMMK.TO is cheaper with a 0.13% expense ratio, compared with 0.85% for FIE.TO.
ZMMK.TO is categorized as Money Market, while FIE.TO is Canada Equities. They also come from different issuers: BMO and iShares. Their fees differ too: 0.13% for ZMMK.TO and 0.85% for FIE.TO.
Find the right allocation for ZMMK.TO and FIE.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer