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ZMMK.TO vs. ZQQ.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZMMK.TO vs. ZQQ.TO

Last updated Jun 5, 2026

ZMMK.TO (BMO Money Market Fund ETF Series) and ZQQ.TO (BMO NASDAQ 100 Equity (CAD Hedged)) are both exchange-traded funds - ZMMK.TO is a Money Market fund actively managed by BMO, while ZQQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index. ZMMK.TO is actively managed, while ZQQ.TO is passively managed. Over the past 3 years, ZMMK.TO returned 3.86%/yr vs 26.20%/yr for ZQQ.TO. At a 0.04 correlation, their price movements are largely independent. ZMMK.TO charges 0.13%/yr vs 0.39%/yr for ZQQ.TO.

Performance

ZMMK.TO vs. ZQQ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Money Market Fund ETF Series (ZMMK.TO) and BMO NASDAQ 100 Equity (CAD Hedged) (ZQQ.TO). The values are adjusted to include any dividend payments, if applicable.

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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 ZQQ.TO's 19.23% return.

ZMMK.TO

1D
0.04%
1M
0.19%
YTD
0.99%
6M
1.17%
1Y
2.50%
3Y*
3.86%
5Y*
—
10Y*
—

ZQQ.TO

1D
-0.49%
1M
8.68%
YTD
19.23%
6M
17.57%
1Y
37.46%
3Y*
26.20%
5Y*
16.01%
10Y*
19.97%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZMMK.TO vs. ZQQ.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021
ZMMK.TO
BMO Money Market Fund ETF Series		0.99%2.77%4.94%4.86%1.99%0.04%
ZQQ.TO
BMO NASDAQ 100 Equity (CAD Hedged)		19.23%18.38%24.00%52.52%-33.75%1.98%

Correlation

The correlation between ZMMK.TO and ZQQ.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

0.06

Correlation (All Time)
Calculated using the full available price history since Dec 3, 2021

0.04

Compare stocks, funds, or ETFs

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BMO Money Market Fund ETF Series

BMO NASDAQ 100 Equity (CAD Hedged)

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Often compared with ZQQ.TO:
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Return for Risk

ZMMK.TO vs. ZQQ.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZMMK.TO
ZMMK.TO Risk / Return Rank: 100100
Overall Rank
ZMMK.TO Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
ZMMK.TO Sortino Ratio Rank: 100100
Sortino Ratio Rank
ZMMK.TO Omega Ratio Rank: 9999
Omega Ratio Rank
ZMMK.TO Calmar Ratio Rank: 100100
Calmar Ratio Rank
ZMMK.TO Martin Ratio Rank: 100100
Martin Ratio Rank
ZQQ.TO
ZQQ.TO Risk / Return Rank: 6868
Overall Rank
ZQQ.TO Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
ZQQ.TO Sortino Ratio Rank: 7171
Sortino Ratio Rank
ZQQ.TO Omega Ratio Rank: 7070
Omega Ratio Rank
ZQQ.TO Calmar Ratio Rank: 6060
Calmar Ratio Rank
ZQQ.TO Martin Ratio Rank: 6262
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ZMMK.TO vs. ZQQ.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 NASDAQ 100 Equity (CAD Hedged) (ZQQ.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.TOZQQ.TODifference
Sharpe ratioReturn per unit of total volatility
9.68
2.39

+7.29

Sortino ratioReturn per unit of downside risk
24.12
3.17

+20.95

Omega ratioGain probability vs. loss probability

5.48

1.41

+4.07

Calmar ratioReturn relative to maximum drawdown

83.57

2.93

+80.65

Martin ratioReturn relative to average drawdown

380.38

10.93

+369.45

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZMMK.TO vs. ZQQ.TO - Sharpe Ratio Comparison

The current ZMMK.TO Sharpe Ratio is 9.68, which is higher than the ZQQ.TO Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of ZMMK.TO and ZQQ.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

ZMMK.TOZQQ.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

9.68

2.39

+7.29

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.71

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.90

—

Sharpe Ratio (All Time)

Calculated using the full available price history

10.31

0.91

+9.40

Drawdowns

ZMMK.TO vs. ZQQ.TO - Drawdown Comparison

The maximum ZMMK.TO drawdown since its inception was -0.16%, smaller than the maximum ZQQ.TO drawdown of -36.39%. Use the drawdown chart below to compare losses from any high point for ZMMK.TO and ZQQ.TO.

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Drawdown Indicators

ZMMK.TOZQQ.TODifference

Max Drawdown

Largest peak-to-trough decline

-0.16%

-36.39%

+36.23%

Max Drawdown (1Y)

Largest decline over 1 year

-0.03%

-12.86%

+12.83%

Max Drawdown (3Y)

Largest decline over 3 years

-0.08%

-22.79%

+22.71%

Max Drawdown (5Y)

Largest decline over 5 years

—

-36.39%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-36.39%

—

Current Drawdown

Current decline from peak

0.00%

-0.77%

+0.77%

Average Drawdown

Average peak-to-trough decline

-0.00%

-5.37%

+5.37%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.01%

3.44%

-3.43%

Volatility

ZMMK.TO vs. ZQQ.TO - Volatility Comparison

The current volatility for BMO Money Market Fund ETF Series (ZMMK.TO) is 0.06%, while BMO NASDAQ 100 Equity (CAD Hedged) (ZQQ.TO) has a volatility of 4.56%. This indicates that ZMMK.TO experiences smaller price fluctuations and is considered to be less risky than ZQQ.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.TOZQQ.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.06%

4.56%

-4.50%

Volatility (6M)

Calculated over the trailing 6-month period

0.18%

12.02%

-11.84%

Volatility (1Y)

Calculated over the trailing 1-year period

0.26%

15.73%

-15.47%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

0.34%

22.56%

-22.22%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

0.34%

22.41%

-22.07%

ZMMK.TO vs. ZQQ.TO - Expense Ratio Comparison

ZMMK.TO has a 0.13% expense ratio, which is lower than ZQQ.TO's 0.39% expense ratio.

Dividends

ZMMK.TO vs. ZQQ.TO - Dividend Comparison

ZMMK.TO's dividend yield for the trailing twelve months is around 2.53%, more than ZQQ.TO's 0.22% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
ZQQ.TO
BMO NASDAQ 100 Equity (CAD Hedged)		0.22%0.27%0.37%0.32%0.45%0.14%0.41%0.51%0.64%0.57%1.60%0.81%

Frequently Asked Questions

ZMMK.TO and ZQQ.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 0.39% for ZQQ.TO.

ZMMK.TO is categorized as Money Market, while ZQQ.TO is Nasdaq-100. Their fees differ too: 0.13% for ZMMK.TO and 0.39% for ZQQ.TO.

Portfolio Optimizer

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