ZMMK.TO vs. ZLB.TO
ZMMK.TO (BMO Money Market Fund ETF Series) and ZLB.TO (BMO Low Volatility Canadian Equity ETF) are both exchange-traded funds - ZMMK.TO is a Money Market fund actively managed by BMO, while ZLB.TO is a Canada Equities fund actively managed by BMO. Both are actively managed. Over the past 3 years, ZMMK.TO returned 3.86%/yr vs 15.72%/yr for ZLB.TO. At a 0.05 correlation, their price movements are largely independent. ZMMK.TO charges 0.13%/yr vs 0.39%/yr for ZLB.TO.
Performance
ZMMK.TO vs. ZLB.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 ZLB.TO's 4.04% return.
ZMMK.TO
- 1D
- 0.04%
- 1M
- 0.19%
- YTD
- 0.99%
- 6M
- 1.17%
- 1Y
- 2.50%
- 3Y*
- 3.86%
- 5Y*
- —
- 10Y*
- —
ZLB.TO
- 1D
- 0.87%
- 1M
- 1.80%
- YTD
- 4.04%
- 6M
- 4.91%
- 1Y
- 16.44%
- 3Y*
- 15.72%
- 5Y*
- 11.81%
- 10Y*
- 10.79%
ZMMK.TO vs. ZLB.TO - 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% |
ZLB.TO BMO Low Volatility Canadian Equity ETF | 4.04% | 25.29% | 15.31% | 9.41% | -0.35% | 3.64% |
Correlation
The correlation between ZMMK.TO and ZLB.TO is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2021 | 0.05 |
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Return for Risk
ZMMK.TO vs. ZLB.TO — Risk / Return Rank
ZMMK.TO
ZLB.TO
ZMMK.TO vs. ZLB.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 Low Volatility Canadian Equity ETF (ZLB.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 | ZLB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +7.69 | ||
| Sortino ratioReturn per unit of downside risk | +21.15 | ||
| Omega ratioGain probability vs. loss probability | 5.48 | 1.36 | +4.12 |
| Calmar ratioReturn relative to maximum drawdown | 83.57 | 3.08 | +80.49 |
| Martin ratioReturn relative to average drawdown | 380.38 | 11.43 | +368.95 |
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 | ZLB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 9.68 | 1.99 | +7.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.26 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.89 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 10.31 | 1.15 | +9.16 |
Drawdowns
ZMMK.TO vs. ZLB.TO - Drawdown Comparison
The maximum ZMMK.TO drawdown since its inception was -0.16%, smaller than the maximum ZLB.TO drawdown of -33.96%. Use the drawdown chart below to compare losses from any high point for ZMMK.TO and ZLB.TO.
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Drawdown Indicators
| ZMMK.TO | ZLB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.16% | -33.96% | +33.80% |
Max Drawdown (1Y)Largest decline over 1 year | -0.03% | -5.36% | +5.33% |
Max Drawdown (3Y)Largest decline over 3 years | -0.08% | -8.01% | +7.93% |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.00% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.96% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.84% | +0.84% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -2.46% | +2.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 1.44% | -1.43% |
Volatility
ZMMK.TO vs. ZLB.TO - Volatility Comparison
The current volatility for BMO Money Market Fund ETF Series (ZMMK.TO) is 0.06%, while BMO Low Volatility Canadian Equity ETF (ZLB.TO) has a volatility of 2.57%. This indicates that ZMMK.TO experiences smaller price fluctuations and is considered to be less risky than ZLB.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 | ZLB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.06% | 2.57% | -2.51% |
Volatility (6M)Calculated over the trailing 6-month period | 0.18% | 6.39% | -6.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.26% | 8.31% | -8.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.34% | 9.44% | -9.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.34% | 12.15% | -11.81% |
ZMMK.TO vs. ZLB.TO - Expense Ratio Comparison
ZMMK.TO has a 0.13% expense ratio, which is lower than ZLB.TO's 0.39% expense ratio.
Dividends
ZMMK.TO vs. ZLB.TO - Dividend Comparison
ZMMK.TO's dividend yield for the trailing twelve months is around 2.53%, more than ZLB.TO's 1.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZLB.TO BMO Low Volatility Canadian Equity ETF | 1.87% | 1.93% | 2.37% | 2.67% | 2.66% | 2.39% | 2.83% | 2.44% | 2.76% | 2.52% | 2.94% | 2.34% |
ZMMK.TO BMO Money Market Fund ETF Series | 2.53% | 3.02% | 4.66% | 4.98% | 1.95% | 0.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZMMK.TO and ZLB.TO have a correlation of 0.12, 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 0.39% for ZLB.TO.
ZMMK.TO is categorized as Money Market, while ZLB.TO is Canada Equities. Their fees differ too: 0.13% for ZMMK.TO and 0.39% for ZLB.TO.
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