ZMMK.TO vs. HISA.NEO
ZMMK.TO (BMO Money Market Fund ETF Series) and HISA.NEO (Evolve High Interest Savings Account ETF) are both Money Market funds. Both are actively managed. Over the past 3 years, ZMMK.TO returned 3.86%/yr vs 3.11%/yr for HISA.NEO. At a 0.17 correlation, their price movements are largely independent. ZMMK.TO charges 0.13%/yr vs 0.15%/yr for HISA.NEO.
Performance
ZMMK.TO vs. HISA.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, ZMMK.TO achieves a 0.99% return, which is significantly higher than HISA.NEO's 0.60% return.
ZMMK.TO
- 1D
- 0.04%
- 1M
- 0.19%
- YTD
- 0.99%
- 6M
- 1.17%
- 1Y
- 2.50%
- 3Y*
- 3.86%
- 5Y*
- —
- 10Y*
- —
HISA.NEO
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.60%
- 6M
- 0.80%
- 1Y
- 2.01%
- 3Y*
- 3.11%
- 5Y*
- 2.77%
- 10Y*
- —
ZMMK.TO vs. HISA.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ZMMK.TO BMO Money Market Fund ETF Series | 0.99% | 2.77% | 4.94% | 4.86% | 1.99% | 0.04% |
HISA.NEO Evolve High Interest Savings Account ETF | 0.60% | 2.30% | 3.78% | 4.66% | 2.28% | 0.06% |
Correlation
The correlation between ZMMK.TO and HISA.NEO 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 | 0.19 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2021 | 0.17 |
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Return for Risk
ZMMK.TO vs. HISA.NEO — Risk / Return Rank
ZMMK.TO
HISA.NEO
ZMMK.TO vs. HISA.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Money Market Fund ETF Series (ZMMK.TO) and Evolve High Interest Savings Account ETF (HISA.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.
| ZMMK.TO | HISA.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +6.81 | ||
| Sortino ratioReturn per unit of downside risk | +19.09 | ||
| Omega ratioGain probability vs. loss probability | 5.48 | 5.25 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 83.57 | 2.62 | +80.95 |
| Martin ratioReturn relative to average drawdown | 380.38 | 27.66 | +352.72 |
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
| ZMMK.TO | HISA.NEO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 9.68 | 2.87 | +6.81 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 2.78 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 10.31 | 2.35 | +7.96 |
Drawdowns
ZMMK.TO vs. HISA.NEO - Drawdown Comparison
The maximum ZMMK.TO drawdown since its inception was -0.16%, smaller than the maximum HISA.NEO drawdown of -0.42%. Use the drawdown chart below to compare losses from any high point for ZMMK.TO and HISA.NEO.
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Drawdown Indicators
| ZMMK.TO | HISA.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.16% | -0.42% | +0.26% |
Max Drawdown (1Y)Largest decline over 1 year | -0.03% | -0.18% | +0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -0.08% | -0.42% | +0.34% |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.42% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.02% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -0.01% | +0.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.01% | 0.00% |
Volatility
ZMMK.TO vs. HISA.NEO - Volatility Comparison
BMO Money Market Fund ETF Series (ZMMK.TO) has a higher volatility of 0.06% compared to Evolve High Interest Savings Account ETF (HISA.NEO) at 0.03%. This indicates that ZMMK.TO's price experiences larger fluctuations and is considered to be riskier than HISA.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZMMK.TO | HISA.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.06% | 0.03% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 0.18% | 0.08% | +0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.26% | 0.36% | -0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.34% | 0.46% | -0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.34% | 0.47% | -0.13% |
ZMMK.TO vs. HISA.NEO - Expense Ratio Comparison
ZMMK.TO has a 0.13% expense ratio, which is lower than HISA.NEO's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ZMMK.TO vs. HISA.NEO - Dividend Comparison
ZMMK.TO's dividend yield for the trailing twelve months is around 2.53%, more than HISA.NEO's 2.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
HISA.NEO Evolve High Interest Savings Account ETF | 2.27% | 2.32% | 3.65% | 4.60% | 2.22% | 0.52% | 0.84% | 0.76% |
ZMMK.TO BMO Money Market Fund ETF Series | 2.53% | 3.02% | 4.66% | 4.98% | 1.95% | 0.04% | 0.00% | 0.00% |
Frequently Asked Questions
ZMMK.TO and HISA.NEO 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 0.15% for HISA.NEO.
They also come from different issuers: BMO and Evolve. Their fees differ too: 0.13% for ZMMK.TO and 0.15% for HISA.NEO.
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