ZPAY.TO vs. SPY
Compare and contrast key facts about BMO Premium Yield ETF (ZPAY.TO) and SPDR S&P 500 ETF (SPY).
ZPAY.TO and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZPAY.TO is an actively managed fund by BMO Asset Management. It was launched on Jan 15, 2020. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ZPAY.TO or SPY.
Key characteristics
| ZPAY.TO | SPY | |
|---|---|---|
| YTD Return | 6.29% | 11.74% |
| 1Y Return | 12.77% | 28.12% |
| 3Y Return (Ann) | 8.92% | 10.36% |
| Sharpe Ratio | 2.38 | 2.56 |
| Daily Std Dev | 5.76% | 11.48% |
| Max Drawdown | -14.89% | -55.19% |
| Current Drawdown | -0.10% | -0.06% |
Correlation
The correlation between ZPAY.TO and SPY is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
ZPAY.TO vs. SPY - Performance Comparison
In the year-to-date period, ZPAY.TO achieves a 6.29% return, which is significantly lower than SPY's 11.74% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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ZPAY.TO vs. SPY - Expense Ratio Comparison
ZPAY.TO has a 0.73% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
ZPAY.TO vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Premium Yield ETF (ZPAY.TO) and SPDR S&P 500 ETF (SPY). 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.
Dividends
ZPAY.TO vs. SPY - Dividend Comparison
ZPAY.TO's dividend yield for the trailing twelve months is around 6.15%, more than SPY's 1.27% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZPAY.TO BMO Premium Yield ETF | 6.15% | 6.40% | 7.00% | 6.10% | 5.42% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY SPDR S&P 500 ETF | 1.27% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
ZPAY.TO vs. SPY - Drawdown Comparison
The maximum ZPAY.TO drawdown since its inception was -14.89%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for ZPAY.TO and SPY. For additional features, visit the drawdowns tool.
Volatility
ZPAY.TO vs. SPY - Volatility Comparison
The current volatility for BMO Premium Yield ETF (ZPAY.TO) is 1.12%, while SPDR S&P 500 ETF (SPY) has a volatility of 3.37%. This indicates that ZPAY.TO experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.