ZMMK.TO vs. VRIF.TO
ZMMK.TO (BMO Money Market Fund ETF Series) and VRIF.TO (Vanguard Retirement Income ETF Portfolio) are both exchange-traded funds - ZMMK.TO is a Money Market fund actively managed by BMO, while VRIF.TO is a Diversified Portfolio fund actively managed by Vanguard. Both are actively managed. Over the past 3 years, ZMMK.TO returned 3.84%/yr vs 9.77%/yr for VRIF.TO. At a 0.02 correlation, their price movements are largely independent. ZMMK.TO charges 0.13%/yr vs 0.29%/yr for VRIF.TO.
Performance
ZMMK.TO vs. VRIF.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZMMK.TO achieves a 1.03% return, which is significantly lower than VRIF.TO's 4.98% return.
ZMMK.TO
- 1D
- 0.02%
- 1M
- 0.19%
- YTD
- 1.03%
- 6M
- 1.17%
- 1Y
- 2.48%
- 3Y*
- 3.84%
- 5Y*
- —
- 10Y*
- —
VRIF.TO
- 1D
- 0.37%
- 1M
- 2.46%
- YTD
- 4.98%
- 6M
- 5.47%
- 1Y
- 12.45%
- 3Y*
- 9.77%
- 5Y*
- 4.60%
- 10Y*
- —
ZMMK.TO vs. VRIF.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% |
VRIF.TO Vanguard Retirement Income ETF Portfolio | 4.98% | 10.60% | 8.42% | 8.96% | -11.50% | 1.75% |
Correlation
The correlation between ZMMK.TO and VRIF.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 | 0.04 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2021 | 0.02 |
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Return for Risk
ZMMK.TO vs. VRIF.TO — Risk / Return Rank
ZMMK.TO
VRIF.TO
ZMMK.TO vs. VRIF.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 Vanguard Retirement Income ETF Portfolio (VRIF.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 | VRIF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +7.01 | ||
| Sortino ratioReturn per unit of downside risk | +18.90 | ||
| Omega ratioGain probability vs. loss probability | 5.22 | 1.41 | +3.81 |
| Calmar ratioReturn relative to maximum drawdown | 62.17 | 2.60 | +59.57 |
| Martin ratioReturn relative to average drawdown | 348.17 | 10.71 | +337.46 |
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Drawdowns
ZMMK.TO vs. VRIF.TO - Drawdown Comparison
The maximum ZMMK.TO drawdown since its inception was -0.16%, smaller than the maximum VRIF.TO drawdown of -16.19%. Use the drawdown chart below to compare losses from any high point for ZMMK.TO and VRIF.TO.
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Drawdown Indicators
| ZMMK.TO | VRIF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.16% | -16.19% | +16.03% |
Max Drawdown (1Y)Largest decline over 1 year | -0.04% | -4.57% | +4.53% |
Max Drawdown (3Y)Largest decline over 3 years | -0.08% | -5.01% | +4.93% |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.19% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.15% | +0.15% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -3.86% | +3.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 1.11% | -1.10% |
Volatility
ZMMK.TO vs. VRIF.TO - Volatility Comparison
The current volatility for BMO Money Market Fund ETF Series (ZMMK.TO) is 0.08%, while Vanguard Retirement Income ETF Portfolio (VRIF.TO) has a volatility of 2.42%. This indicates that ZMMK.TO experiences smaller price fluctuations and is considered to be less risky than VRIF.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 | VRIF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.08% | 2.42% | -2.34% |
Volatility (6M)Calculated over the trailing 6-month period | 0.19% | 4.82% | -4.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.27% | 5.59% | -5.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.34% | 6.26% | -5.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.34% | 6.27% | -5.93% |
ZMMK.TO vs. VRIF.TO - Expense Ratio Comparison
ZMMK.TO has a 0.13% expense ratio, which is lower than VRIF.TO's 0.29% expense ratio.
Dividends
ZMMK.TO vs. VRIF.TO - Dividend Comparison
ZMMK.TO's dividend yield for the trailing twelve months is around 2.53%, less than VRIF.TO's 3.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
VRIF.TO Vanguard Retirement Income ETF Portfolio | 3.73% | 3.77% | 3.94% | 4.32% | 4.72% | 3.86% | 1.27% |
ZMMK.TO BMO Money Market Fund ETF Series | 2.53% | 3.02% | 4.66% | 4.98% | 1.95% | 0.04% | 0.00% |
Frequently Asked Questions
ZMMK.TO and VRIF.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 0.29% for VRIF.TO.
ZMMK.TO is categorized as Money Market, while VRIF.TO is Diversified Portfolio. They also come from different issuers: BMO and Vanguard. Their fees differ too: 0.13% for ZMMK.TO and 0.29% for VRIF.TO.
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