ZMT.TO vs. PPLN.TO
ZMT.TO (BMO S&P/TSX Equal Weight Global Base Metals (CAD Hedged)) and PPLN.TO (Global X Equal Weight Canadian Pipelines Index ETF) are both Energy Equities funds - ZMT.TO tracks the Solactive Equal Weight Global Base Metals Index Canadian Dollar Hedged while PPLN.TO tracks the Mirae Asset Equal Weight Canadian Pipeline Index. Both are passively managed. Over the past 10 years, ZMT.TO returned 17.71%/yr vs 10.87%/yr for PPLN.TO. At a 0.35 correlation, their price movements are largely independent. ZMT.TO charges 0.61%/yr vs 0.31%/yr for PPLN.TO.
Performance
ZMT.TO vs. PPLN.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZMT.TO achieves a 39.44% return, which is significantly higher than PPLN.TO's 29.04% return. Over the past 10 years, ZMT.TO has outperformed PPLN.TO with an annualized return of 17.71%, while PPLN.TO has yielded a comparatively lower 10.87% annualized return.
ZMT.TO
- 1D
- -3.52%
- 1M
- 16.19%
- YTD
- 39.44%
- 6M
- 46.49%
- 1Y
- 109.69%
- 3Y*
- 42.46%
- 5Y*
- 20.69%
- 10Y*
- 17.71%
PPLN.TO
- 1D
- -0.24%
- 1M
- 6.16%
- YTD
- 29.04%
- 6M
- 28.59%
- 1Y
- 39.15%
- 3Y*
- 18.78%
- 5Y*
- 14.07%
- 10Y*
- 10.87%
ZMT.TO vs. PPLN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZMT.TO BMO S&P/TSX Equal Weight Global Base Metals (CAD Hedged) | 39.44% | 63.17% | 15.30% | 14.54% | -6.65% | 11.04% | 14.70% | 15.82% | -34.17% | 37.76% |
PPLN.TO Global X Equal Weight Canadian Pipelines Index ETF | 29.04% | 4.14% | 17.18% | 8.45% | 16.63% | 33.83% | -17.80% | 20.50% | -11.54% | -2.67% |
Correlation
The correlation between ZMT.TO and PPLN.TO is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2014 | 0.35 |
The correlation between ZMT.TO and PPLN.TO shifts across timeframes, from -0.08 (1 year) to 0.36 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
ZMT.TO vs. PPLN.TO — Risk / Return Rank
ZMT.TO
PPLN.TO
ZMT.TO vs. PPLN.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 Global X Equal Weight Canadian Pipelines Index ETF (PPLN.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.
| ZMT.TO | PPLN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.47 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 4.63 | 3.85 | +0.79 |
| Martin ratioReturn relative to average drawdown | 14.58 | 10.25 | +4.33 |
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
| ZMT.TO | PPLN.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.84 | 2.73 | +0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.62 | 0.81 | -0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 0.47 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.00 | 0.33 | -0.33 |
Drawdowns
ZMT.TO vs. PPLN.TO - Drawdown Comparison
The maximum ZMT.TO drawdown since its inception was -80.73%, which is greater than PPLN.TO's maximum drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for ZMT.TO and PPLN.TO.
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Drawdown Indicators
| ZMT.TO | PPLN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.73% | -59.05% | -21.68% |
Max Drawdown (1Y)Largest decline over 1 year | -23.81% | -10.22% | -13.59% |
Max Drawdown (3Y)Largest decline over 3 years | -33.28% | -15.31% | -17.97% |
Max Drawdown (5Y)Largest decline over 5 years | -41.01% | -18.54% | -22.47% |
Max Drawdown (10Y)Largest decline over 10 years | -67.51% | -59.05% | -8.46% |
Current DrawdownCurrent decline from peak | -3.52% | -2.93% | -0.59% |
Average DrawdownAverage peak-to-trough decline | -43.15% | -9.47% | -33.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.55% | 3.84% | +3.71% |
Volatility
ZMT.TO vs. PPLN.TO - Volatility Comparison
BMO S&P/TSX Equal Weight Global Base Metals (CAD Hedged) (ZMT.TO) has a higher volatility of 14.55% compared to Global X Equal Weight Canadian Pipelines Index ETF (PPLN.TO) at 5.77%. This indicates that ZMT.TO's price experiences larger fluctuations and is considered to be riskier than PPLN.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 | PPLN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.55% | 5.77% | +8.78% |
Volatility (6M)Calculated over the trailing 6-month period | 31.86% | 11.56% | +20.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.81% | 14.40% | +24.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.74% | 17.40% | +16.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.32% | 23.20% | +10.12% |
ZMT.TO vs. PPLN.TO - Expense Ratio Comparison
ZMT.TO has a 0.61% expense ratio, which is higher than PPLN.TO's 0.31% expense ratio.
Dividends
ZMT.TO vs. PPLN.TO - Dividend Comparison
ZMT.TO's dividend yield for the trailing twelve months is around 0.15%, less than PPLN.TO's 4.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PPLN.TO Global X Equal Weight Canadian Pipelines Index ETF | 4.26% | 4.35% | 2.94% | 3.77% | 3.23% | 3.47% | 5.76% | 4.40% | 5.21% | 4.31% | 3.99% | 4.41% |
ZMT.TO BMO S&P/TSX Equal Weight Global Base Metals (CAD Hedged) | 0.15% | 0.21% | 0.34% | 0.87% | 1.46% | 2.82% | 1.03% | 2.34% | 3.95% | 1.29% | 1.24% | 1.10% |
Frequently Asked Questions
ZMT.TO and PPLN.TO have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PPLN.TO is cheaper at 0.31% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PPLN.TO is cheaper with a 0.31% expense ratio, compared with 0.61% for ZMT.TO.
ZMT.TO tracks Solactive Equal Weight Global Base Metals Index Canadian Dollar Hedged, while PPLN.TO tracks Mirae Asset Equal Weight Canadian Pipeline Index. They also come from different issuers: BMO and Global X. Their fees differ too: 0.61% for ZMT.TO and 0.31% for PPLN.TO.
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