ZMU.TO vs. DCBC.TO
ZMU.TO (BMO Mid-Term US IG Corporate Bond Hedged to CAD Index ETF) and DCBC.TO (Desjardins Canadian Corporate Bond Index ETF) are both Corporate Bonds funds. Over the past year, ZMU.TO returned 2.28% vs 3.89% for DCBC.TO. At a 0.41 correlation, their price movements are largely independent.
Performance
ZMU.TO vs. DCBC.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZMU.TO achieves a -0.41% return, which is significantly lower than DCBC.TO's 2.37% return.
ZMU.TO
- 1D
- -0.48%
- 1M
- -0.10%
- YTD
- -0.41%
- 6M
- -0.72%
- 1Y
- 2.28%
- 3Y*
- 4.49%
- 5Y*
- -0.16%
- 10Y*
- 1.75%
DCBC.TO
- 1D
- 0.00%
- 1M
- 0.68%
- YTD
- 2.37%
- 6M
- 2.18%
- 1Y
- 3.89%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZMU.TO vs. DCBC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ZMU.TO BMO Mid-Term US IG Corporate Bond Hedged to CAD Index ETF | -0.41% | 7.47% | 4.75% |
DCBC.TO Desjardins Canadian Corporate Bond Index ETF | 2.37% | 3.94% | 6.62% |
Correlation
The correlation between ZMU.TO and DCBC.TO is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Apr 22, 2024 | 0.41 |
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Return for Risk
ZMU.TO vs. DCBC.TO — Risk / Return Rank
ZMU.TO
DCBC.TO
ZMU.TO vs. DCBC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Mid-Term US IG Corporate Bond Hedged to CAD Index ETF (ZMU.TO) and Desjardins Canadian Corporate Bond Index ETF (DCBC.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.
| ZMU.TO | DCBC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.22 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.74 | 1.52 | -0.79 |
| Martin ratioReturn relative to average drawdown | 1.76 | 4.85 | -3.09 |
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Drawdowns
ZMU.TO vs. DCBC.TO - Drawdown Comparison
The maximum ZMU.TO drawdown since its inception was -21.30%, which is greater than DCBC.TO's maximum drawdown of -3.12%. Use the drawdown chart below to compare losses from any high point for ZMU.TO and DCBC.TO.
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Drawdown Indicators
| ZMU.TO | DCBC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.30% | -3.12% | -18.18% |
Max Drawdown (1Y)Largest decline over 1 year | -3.11% | -2.57% | -0.54% |
Max Drawdown (3Y)Largest decline over 3 years | -6.05% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -21.30% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -21.30% | — | — |
Current DrawdownCurrent decline from peak | -2.24% | 0.00% | -2.24% |
Average DrawdownAverage peak-to-trough decline | -4.54% | -0.62% | -3.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 0.82% | +0.48% |
Volatility
ZMU.TO vs. DCBC.TO - Volatility Comparison
BMO Mid-Term US IG Corporate Bond Hedged to CAD Index ETF (ZMU.TO) has a higher volatility of 1.63% compared to Desjardins Canadian Corporate Bond Index ETF (DCBC.TO) at 1.04%. This indicates that ZMU.TO's price experiences larger fluctuations and is considered to be riskier than DCBC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZMU.TO | DCBC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.63% | 1.04% | +0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 3.40% | 2.70% | +0.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.70% | 3.55% | +1.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.90% | 4.25% | +2.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.88% | 4.25% | +3.63% |
Dividends
ZMU.TO vs. DCBC.TO - Dividend Comparison
ZMU.TO's dividend yield for the trailing twelve months is around 4.48%, more than DCBC.TO's 3.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DCBC.TO Desjardins Canadian Corporate Bond Index ETF | 3.76% | 3.55% | 2.71% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZMU.TO BMO Mid-Term US IG Corporate Bond Hedged to CAD Index ETF | 4.48% | 4.10% | 4.15% | 4.22% | 4.35% | 3.56% | 3.51% | 3.66% | 3.70% | 3.28% | 3.37% | 3.53% |
Frequently Asked Questions
ZMU.TO and DCBC.TO have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: BMO and Desjardins.
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