ZMMK.TO vs. ZEQT.TO
ZMMK.TO (BMO Money Market Fund ETF Series) and ZEQT.TO (BMO All-Equity ETF) are both exchange-traded funds - ZMMK.TO is a Money Market fund actively managed by BMO, while ZEQT.TO is a Global Equities fund actively managed by BMO. Both are actively managed. Over the past 3 years, ZMMK.TO returned 3.86%/yr vs 22.68%/yr for ZEQT.TO. At a 0.05 correlation, their price movements are largely independent. ZMMK.TO charges 0.13%/yr vs 0.18%/yr for ZEQT.TO.
Performance
ZMMK.TO vs. ZEQT.TO - 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 lower than ZEQT.TO's 13.63% return.
ZMMK.TO
- 1D
- 0.04%
- 1M
- 0.19%
- YTD
- 0.99%
- 6M
- 1.17%
- 1Y
- 2.50%
- 3Y*
- 3.86%
- 5Y*
- —
- 10Y*
- —
ZEQT.TO
- 1D
- 0.52%
- 1M
- 6.10%
- YTD
- 13.63%
- 6M
- 13.00%
- 1Y
- 32.71%
- 3Y*
- 22.68%
- 5Y*
- —
- 10Y*
- —
ZMMK.TO vs. ZEQT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ZMMK.TO BMO Money Market Fund ETF Series | 0.99% | 2.77% | 4.94% | 4.86% | 2.03% |
ZEQT.TO BMO All-Equity ETF | 13.63% | 19.67% | 25.44% | 16.79% | -5.55% |
Correlation
The correlation between ZMMK.TO and ZEQT.TO is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2022 | 0.05 |
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Return for Risk
ZMMK.TO vs. ZEQT.TO — Risk / Return Rank
ZMMK.TO
ZEQT.TO
ZMMK.TO vs. ZEQT.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 BMO All-Equity ETF (ZEQT.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.
| ZMMK.TO | ZEQT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +7.11 | ||
| Sortino ratioReturn per unit of downside risk | +20.54 | ||
| Omega ratioGain probability vs. loss probability | 5.48 | 1.47 | +4.01 |
| Calmar ratioReturn relative to maximum drawdown | 83.57 | 3.77 | +79.80 |
| Martin ratioReturn relative to average drawdown | 380.38 | 15.90 | +364.48 |
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 | ZEQT.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 9.68 | 2.58 | +7.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 10.31 | 1.20 | +9.10 |
Drawdowns
ZMMK.TO vs. ZEQT.TO - Drawdown Comparison
The maximum ZMMK.TO drawdown since its inception was -0.16%, smaller than the maximum ZEQT.TO drawdown of -16.87%. Use the drawdown chart below to compare losses from any high point for ZMMK.TO and ZEQT.TO.
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Drawdown Indicators
| ZMMK.TO | ZEQT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.16% | -16.87% | +16.71% |
Max Drawdown (1Y)Largest decline over 1 year | -0.03% | -8.72% | +8.69% |
Max Drawdown (3Y)Largest decline over 3 years | -0.08% | -15.34% | +15.26% |
Current DrawdownCurrent decline from peak | 0.00% | -0.64% | +0.64% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -3.01% | +3.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 2.06% | -2.05% |
Volatility
ZMMK.TO vs. ZEQT.TO - Volatility Comparison
The current volatility for BMO Money Market Fund ETF Series (ZMMK.TO) is 0.06%, while BMO All-Equity ETF (ZEQT.TO) has a volatility of 5.21%. This indicates that ZMMK.TO experiences smaller price fluctuations and is considered to be less risky than ZEQT.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 | ZEQT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.06% | 5.21% | -5.15% |
Volatility (6M)Calculated over the trailing 6-month period | 0.18% | 10.42% | -10.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.26% | 12.75% | -12.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.34% | 13.85% | -13.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.34% | 13.85% | -13.51% |
ZMMK.TO vs. ZEQT.TO - Expense Ratio Comparison
ZMMK.TO has a 0.13% expense ratio, which is lower than ZEQT.TO's 0.18% 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. ZEQT.TO - Dividend Comparison
ZMMK.TO's dividend yield for the trailing twelve months is around 2.53%, more than ZEQT.TO's 1.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
ZEQT.TO BMO All-Equity ETF | 1.28% | 1.45% | 1.69% | 2.13% | 2.43% | 0.00% |
ZMMK.TO BMO Money Market Fund ETF Series | 2.53% | 3.02% | 4.66% | 4.98% | 1.95% | 0.04% |
Frequently Asked Questions
ZMMK.TO and ZEQT.TO have a correlation of 0.15, 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 0.18% for ZEQT.TO.
ZMMK.TO is categorized as Money Market, while ZEQT.TO is Global Equities. Their fees differ too: 0.13% for ZMMK.TO and 0.18% for ZEQT.TO.
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