ZMT.TO vs. DXMO.TO
ZMT.TO (BMO S&P/TSX Equal Weight Global Base Metals (CAD Hedged)) and DXMO.TO (Dynamic Active Mining Opportunities ETF) are both Materials funds. ZMT.TO is passively managed, while DXMO.TO is actively managed. Over the past year, ZMT.TO returned 85.17% vs 56.19% for DXMO.TO. A 0.54 correlation means they provide meaningful diversification when combined. ZMT.TO charges 0.61%/yr vs 0.74%/yr for DXMO.TO.
Performance
ZMT.TO vs. DXMO.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZMT.TO achieves a 24.75% return, which is significantly higher than DXMO.TO's 4.35% return.
ZMT.TO
- 1D
- -3.72%
- 1M
- -1.01%
- YTD
- 24.75%
- 6M
- 23.80%
- 1Y
- 85.17%
- 3Y*
- 35.09%
- 5Y*
- 19.61%
- 10Y*
- 15.85%
DXMO.TO
- 1D
- -4.50%
- 1M
- -0.55%
- YTD
- 4.35%
- 6M
- 2.59%
- 1Y
- 56.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZMT.TO vs. DXMO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ZMT.TO BMO S&P/TSX Equal Weight Global Base Metals (CAD Hedged) | 24.75% | 63.17% | -6.05% |
DXMO.TO Dynamic Active Mining Opportunities ETF | 4.35% | 86.60% | -9.21% |
Correlation
The correlation between ZMT.TO and DXMO.TO is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Jul 4, 2024 | 0.54 |
The correlation between ZMT.TO and DXMO.TO shifts across timeframes, from 0.54 (all time) to 0.70 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ZMT.TO vs. DXMO.TO — Risk / Return Rank
ZMT.TO
DXMO.TO
ZMT.TO vs. DXMO.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO S&P/TSX Equal Weight Global Base Metals (CAD Hedged) (ZMT.TO) and Dynamic Active Mining Opportunities ETF (DXMO.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.
| ZMT.TO | DXMO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.52 | ||
| Sortino ratioReturn per unit of downside risk | +0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.27 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.60 | 2.30 | +1.30 |
| Martin ratioReturn relative to average drawdown | 10.74 | 6.42 | +4.33 |
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Drawdowns
ZMT.TO vs. DXMO.TO - Drawdown Comparison
The maximum ZMT.TO drawdown since its inception was -82.27%, which is greater than DXMO.TO's maximum drawdown of -26.12%. Use the drawdown chart below to compare losses from any high point for ZMT.TO and DXMO.TO.
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Drawdown Indicators
| ZMT.TO | DXMO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.27% | -26.12% | -56.15% |
Max Drawdown (1Y)Largest decline over 1 year | -23.81% | -26.12% | +2.31% |
Max Drawdown (3Y)Largest decline over 3 years | -33.28% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -41.01% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -68.54% | — | — |
Current DrawdownCurrent decline from peak | -13.69% | -16.37% | +2.68% |
Average DrawdownAverage peak-to-trough decline | -45.92% | -5.84% | -40.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.95% | 9.12% | -1.17% |
Volatility
ZMT.TO vs. DXMO.TO - Volatility Comparison
BMO S&P/TSX Equal Weight Global Base Metals (CAD Hedged) (ZMT.TO) has a higher volatility of 15.54% compared to Dynamic Active Mining Opportunities ETF (DXMO.TO) at 14.57%. This indicates that ZMT.TO's price experiences larger fluctuations and is considered to be riskier than DXMO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZMT.TO | DXMO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.54% | 14.57% | +0.97% |
Volatility (6M)Calculated over the trailing 6-month period | 34.05% | 31.98% | +2.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.97% | 38.30% | +2.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.18% | 39.82% | -5.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.48% | 39.82% | -6.34% |
ZMT.TO vs. DXMO.TO - Expense Ratio Comparison
ZMT.TO has a 0.61% expense ratio, which is lower than DXMO.TO's 0.74% expense ratio.
Dividends
ZMT.TO vs. DXMO.TO - Dividend Comparison
ZMT.TO's dividend yield for the trailing twelve months is around 0.17%, while DXMO.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DXMO.TO Dynamic Active Mining Opportunities ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZMT.TO BMO S&P/TSX Equal Weight Global Base Metals (CAD Hedged) | 0.17% | 0.21% | 0.34% | 0.87% | 1.46% | 2.82% | 1.03% | 2.34% | 0.79% | 0.26% | 0.25% | 0.22% |
Frequently Asked Questions
ZMT.TO and DXMO.TO have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZMT.TO is cheaper at 0.61% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZMT.TO is cheaper with a 0.61% expense ratio, compared with 0.74% for DXMO.TO.
They also come from different issuers: BMO and Dynamic. Their fees differ too: 0.61% for ZMT.TO and 0.74% for DXMO.TO.
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