ZMMK.TO vs. UCSH-U.TO
ZMMK.TO (BMO Money Market Fund ETF Series) and UCSH-U.TO (Global X USD High Interest Savings ETF) are both Money Market funds. Both are actively managed. Over the past year, ZMMK.TO returned 2.45% vs 6.12% for UCSH-U.TO. At a 0.04 correlation, their price movements are largely independent.
Performance
ZMMK.TO vs. UCSH-U.TO - Performance Comparison
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Different Trading Currencies
ZMMK.TO is traded in CAD, while UCSH-U.TO is traded in USD. To make them comparable, the UCSH-U.TO values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, ZMMK.TO achieves a 1.25% return, which is significantly lower than UCSH-U.TO's 4.35% return.
ZMMK.TO
- 1D
- 0.00%
- 1M
- 0.20%
- 6M
- 1.15%
- YTD
- 1.25%
- 1Y
- 2.45%
- 3Y*
- 3.77%
- 5Y*
- —
- 10Y*
- —
UCSH-U.TO
- 1D
- -0.06%
- 1M
- 0.63%
- 6M
- 2.86%
- YTD
- 4.35%
- 1Y
- 6.12%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZMMK.TO vs. UCSH-U.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ZMMK.TO BMO Money Market Fund ETF Series | 1.25% | 2.77% | 4.56% |
UCSH-U.TO Global X USD High Interest Savings ETF | 4.35% | -0.59% | 11.69% |
Correlation
The correlation between ZMMK.TO and UCSH-U.TO is 0.08, 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 | 0.08 |
Correlation (All Time) Calculated using the full available price history since Jan 24, 2024 | 0.04 |
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Return for Risk
ZMMK.TO vs. UCSH-U.TO — Risk / Return Rank
ZMMK.TO
UCSH-U.TO
ZMMK.TO vs. UCSH-U.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 Global X USD High Interest Savings ETF (UCSH-U.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 | UCSH-U.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +7.62 | ||
| Sortino ratioReturn per unit of downside risk | +20.15 | ||
| Omega ratioGain probability vs. loss probability | 5.32 | 1.26 | +4.06 |
| Calmar ratioReturn relative to maximum drawdown | 61.40 | 1.63 | +59.77 |
| Martin ratioReturn relative to average drawdown | 349.38 | 4.44 | +344.94 |
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Drawdowns
ZMMK.TO vs. UCSH-U.TO - Drawdown Comparison
The maximum ZMMK.TO drawdown since its inception was -0.16%, smaller than the maximum UCSH-U.TO drawdown of -6.35%. Use the drawdown chart below to compare losses from any high point for ZMMK.TO and UCSH-U.TO.
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Drawdown Indicators
| ZMMK.TO | UCSH-U.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.16% | -6.35% | +6.19% |
Max Drawdown (1Y)Largest decline over 1 year | -0.04% | -3.77% | +3.73% |
Max Drawdown (3Y)Largest decline over 3 years | -0.08% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.17% | +1.17% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -1.97% | +1.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 1.38% | -1.37% |
Volatility
ZMMK.TO vs. UCSH-U.TO - Volatility Comparison
The current volatility for BMO Money Market Fund ETF Series (ZMMK.TO) is 0.06%, while Global X USD High Interest Savings ETF (UCSH-U.TO) has a volatility of 1.30%. This indicates that ZMMK.TO experiences smaller price fluctuations and is considered to be less risky than UCSH-U.TO 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 | UCSH-U.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.06% | 1.30% | -1.24% |
Volatility (6M)Calculated over the trailing 6-month period | 0.17% | 3.30% | -3.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.27% | 4.38% | -4.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.34% | 5.32% | -4.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.34% | 5.32% | -4.98% |
Dividends
ZMMK.TO vs. UCSH-U.TO - Dividend Comparison
ZMMK.TO's dividend yield for the trailing twelve months is around 2.46%, less than UCSH-U.TO's 3.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
UCSH-U.TO Global X USD High Interest Savings ETF | 3.65% | 4.04% | 4.71% | 0.00% | 0.00% | 0.00% |
ZMMK.TO BMO Money Market Fund ETF Series | 2.46% | 3.02% | 4.66% | 4.98% | 1.95% | 0.04% |
Frequently Asked Questions
ZMMK.TO and UCSH-U.TO have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: BMO and Global X.
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