ZMMK.TO vs. XDU.TO
ZMMK.TO (BMO Money Market Fund ETF Series) and XDU.TO (iShares Core MSCI US Quality Dividend Index ETF) are both exchange-traded funds - ZMMK.TO is a Money Market fund actively managed by BMO, while XDU.TO is a Quality Factor fund tracking the Morningstar US Market TR CAD. ZMMK.TO is actively managed, while XDU.TO is passively managed. Over the past 3 years, ZMMK.TO returned 3.73%/yr vs 11.91%/yr for XDU.TO. Their -0.01 correlation means they have often moved in opposite directions in the past. ZMMK.TO charges 0.13%/yr vs 0.16%/yr for XDU.TO.
Performance
ZMMK.TO vs. XDU.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZMMK.TO achieves a 1.36% return, which is significantly lower than XDU.TO's 17.37% return.
ZMMK.TO
- 1D
- 0.02%
- 1M
- 0.19%
- 6M
- 1.14%
- YTD
- 1.36%
- 1Y
- 2.46%
- 3Y*
- 3.73%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.42%
XDU.TO
- 1D
- 0.29%
- 1M
- -0.32%
- 6M
- 10.78%
- YTD
- 17.37%
- 1Y
- 20.73%
- 3Y*
- 11.91%
- 5Y*
- 9.52%
- 10Y*
- —
- ALL TIME*
- 9.04%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$87.34K | CA$130.76K | CA$120.57K | |
| CA$11.59M | CA$10.74M | CA$11.95M |
ZMMK.TO vs. XDU.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ZMMK.TO BMO Money Market Fund ETF Series | 1.36% | 2.77% | 4.94% | 4.86% | 1.99% | 0.04% |
XDU.TO iShares Core MSCI US Quality Dividend Index ETF | 17.37% | 2.51% | 14.32% | 3.75% | -3.70% | 12.19% |
Correlation
The correlation between ZMMK.TO and XDU.TO is -0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.05 |
Correlation (3Y) Balances recent behavior with more history. | -0.01 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2021 | -0.01 |
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Return for Risk
ZMMK.TO vs. XDU.TO — Risk / Return Rank
ZMMK.TO
XDU.TO
ZMMK.TO vs. XDU.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 Core MSCI US Quality Dividend Index ETF (XDU.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 | XDU.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +7.33 | ||
| Sortino ratioReturn per unit of downside risk | +19.83 | ||
| Omega ratioGain probability vs. loss probability | 5.33 | 1.31 | +4.02 |
| Calmar ratioReturn relative to maximum drawdown | 61.66 | 3.21 | +58.45 |
| Martin ratioReturn relative to average drawdown | 350.85 | 9.43 | +341.42 |
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Drawdowns
ZMMK.TO vs. XDU.TO - Drawdown Comparison
The maximum ZMMK.TO drawdown since its inception was -0.16%, smaller than the maximum XDU.TO drawdown of -28.56%. Use the drawdown chart below to compare losses from any high point for ZMMK.TO and XDU.TO.
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Drawdown Indicators
| ZMMK.TO | XDU.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.16% | -28.56% | +28.40% |
Max Drawdown (1Y)Largest decline over 1 year | -0.04% | -6.13% | +6.09% |
Max Drawdown (3Y)Largest decline over 3 years | -0.08% | -16.67% | +16.59% |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.67% | — |
Current DrawdownCurrent decline from peak | 0.00% | -2.07% | +2.07% |
Average DrawdownAverage peak-to-trough decline | 0.00% | -5.93% | +5.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 2.09% | -2.08% |
Volatility
ZMMK.TO vs. XDU.TO - Volatility Comparison
The current volatility for BMO Money Market Fund ETF Series (ZMMK.TO) is 0.05%, while iShares Core MSCI US Quality Dividend Index ETF (XDU.TO) has a volatility of 4.31%. This indicates that ZMMK.TO experiences smaller price fluctuations and is considered to be less risky than XDU.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 | XDU.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 4.31% | -4.26% |
Volatility (6M)Calculated over the trailing 6-month period | 0.17% | 7.79% | -7.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.27% | 11.40% | -11.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.34% | 18.54% | -18.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.34% | 28.89% | -28.55% |
ZMMK.TO vs. XDU.TO - Expense Ratio Comparison
ZMMK.TO has a 0.13% expense ratio, which is lower than XDU.TO's 0.16% 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. XDU.TO - Dividend Comparison
ZMMK.TO's dividend yield for the trailing twelve months is around 2.45%, more than XDU.TO's 2.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
XDU.TO iShares Core MSCI US Quality Dividend Index ETF | 2.42% | 2.54% | 2.31% | 2.53% | 2.25% | 2.13% | 2.99% | 2.54% | 2.49% | 1.39% |
ZMMK.TO BMO Money Market Fund ETF Series | 2.45% | 3.02% | 4.66% | 4.98% | 1.95% | 0.04% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZMMK.TO and XDU.TO have a correlation of -0.05, 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 0.16% for XDU.TO.
ZMMK.TO is categorized as Money Market, while XDU.TO is Quality Factor. They also come from different issuers: BMO and iShares. Their fees differ too: 0.13% for ZMMK.TO and 0.16% for XDU.TO.
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