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ZPR.TO vs. ZAG.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ZPR.TO vs. ZAG.TO

Last updated Apr 1, 2026

Compare and contrast key facts about BMO Laddered Preferred Share Index ETF (ZPR.TO) and BMO Aggregate Bond Index ETF (ZAG.TO).

ZPR.TO and ZAG.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZPR.TO is a passively managed fund by BMO that tracks the performance of the Solactive Laddered Canadian Preferred Share Index. It was launched on Jan 24, 2022. ZAG.TO is a passively managed fund by BMO that tracks the performance of the FTSE Canada Universe Bond Index. It was launched on Jan 19, 2010. Both ZPR.TO and ZAG.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ZPR.TO vs. ZAG.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Laddered Preferred Share Index ETF (ZPR.TO) and BMO Aggregate Bond Index ETF (ZAG.TO). The values are adjusted to include any dividend payments, if applicable.

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ZPR.TO vs. ZAG.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ZPR.TO
BMO Laddered Preferred Share Index ETF		1.93%18.58%26.58%7.21%-17.66%23.77%6.00%2.10%-9.86%14.55%
ZAG.TO
BMO Aggregate Bond Index ETF		0.04%2.25%4.48%6.41%-11.60%-2.60%8.34%6.84%1.12%2.45%

Returns By Period

In the year-to-date period, ZPR.TO achieves a 1.93% return, which is significantly higher than ZAG.TO's 0.04% return. Over the past 10 years, ZPR.TO has outperformed ZAG.TO with an annualized return of 8.10%, while ZAG.TO has yielded a comparatively lower 1.66% annualized return.

ZPR.TO

1D
0.98%
1M
-0.20%
YTD
1.93%
6M
6.73%
1Y
18.43%
3Y*
17.54%
5Y*
8.36%
10Y*
8.10%

ZAG.TO

1D
0.15%
1M
-2.08%
YTD
0.04%
6M
-0.26%
1Y
0.56%
3Y*
3.34%
5Y*
0.58%
10Y*
1.66%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

BMO Laddered Preferred Share Index ETF

BMO Aggregate Bond Index ETF

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Often compared with ZAG.TO:
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ZPR.TO vs. ZAG.TO - Expense Ratio Comparison

ZPR.TO has a 0.45% expense ratio, which is higher than ZAG.TO's 0.09% expense ratio.

ZPR.TO
BMO Laddered Preferred Share Index ETF
ZAG.TO
BMO Aggregate Bond Index ETF

Return for Risk

ZPR.TO vs. ZAG.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZPR.TO
ZPR.TO Risk / Return Rank: 9191
Overall Rank
ZPR.TO Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
ZPR.TO Sortino Ratio Rank: 9494
Sortino Ratio Rank
ZPR.TO Omega Ratio Rank: 9797
Omega Ratio Rank
ZPR.TO Calmar Ratio Rank: 7979
Calmar Ratio Rank
ZPR.TO Martin Ratio Rank: 8989
Martin Ratio Rank
ZAG.TO
ZAG.TO Risk / Return Rank: 1616
Overall Rank
ZAG.TO Sharpe Ratio Rank: 1616
Sharpe Ratio Rank
ZAG.TO Sortino Ratio Rank: 1313
Sortino Ratio Rank
ZAG.TO Omega Ratio Rank: 1313
Omega Ratio Rank
ZAG.TO Calmar Ratio Rank: 1919
Calmar Ratio Rank
ZAG.TO Martin Ratio Rank: 1717
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.

ZPR.TO vs. ZAG.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Laddered Preferred Share Index ETF (ZPR.TO) and BMO Aggregate Bond Index ETF (ZAG.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.

ZPR.TOZAG.TODifference

Sharpe ratio

Return per unit of total volatility

2.49

0.12

+2.37

Sortino ratio

Return per unit of downside risk

3.00

0.19

+2.81

Omega ratio

Gain probability vs. loss probability

1.63

1.02

+0.61

Calmar ratio

Return relative to maximum drawdown

2.21

0.30

+1.92

Martin ratio

Return relative to average drawdown

11.61

0.60

+11.01

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

ZPR.TO vs. ZAG.TO - Sharpe Ratio Comparison

The current ZPR.TO Sharpe Ratio is 2.49, which is higher than the ZAG.TO Sharpe Ratio of 0.12. The chart below compares the historical Sharpe Ratios of ZPR.TO and ZAG.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

ZPR.TOZAG.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.49

0.12

+2.37

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.01

0.09

+0.92

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.70

0.24

+0.47

Sharpe Ratio (All Time)

Calculated using the full available price history

0.32

0.44

-0.12

Correlation

The correlation between ZPR.TO and ZAG.TO is -0.07. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

ZPR.TO vs. ZAG.TO - Dividend Comparison

ZPR.TO's dividend yield for the trailing twelve months is around 5.08%, more than ZAG.TO's 3.48% yield.

TTM20252024202320222021202020192018201720162015
ZPR.TO
BMO Laddered Preferred Share Index ETF		5.08%4.86%4.93%5.92%5.97%4.66%5.48%5.24%4.70%3.94%4.97%5.32%
ZAG.TO
BMO Aggregate Bond Index ETF		3.48%3.48%3.44%3.47%3.56%3.04%2.88%3.03%2.92%2.95%3.07%3.13%

Drawdowns

ZPR.TO vs. ZAG.TO - Drawdown Comparison

The maximum ZPR.TO drawdown since its inception was -44.92%, which is greater than ZAG.TO's maximum drawdown of -18.03%. Use the drawdown chart below to compare losses from any high point for ZPR.TO and ZAG.TO.

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Drawdown Indicators

ZPR.TOZAG.TODifference

Max Drawdown

Largest peak-to-trough decline

-44.92%

-18.03%

-26.89%

Max Drawdown (1Y)

Largest decline over 1 year

-8.48%

-2.84%

-5.64%

Max Drawdown (5Y)

Largest decline over 5 years

-23.06%

-15.77%

-7.29%

Max Drawdown (10Y)

Largest decline over 10 years

-44.05%

-18.03%

-26.02%

Current Drawdown

Current decline from peak

-0.36%

-2.71%

+2.35%

Average Drawdown

Average peak-to-trough decline

-9.49%

-3.56%

-5.93%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.62%

1.41%

+0.21%

Volatility

ZPR.TO vs. ZAG.TO - Volatility Comparison

The current volatility for BMO Laddered Preferred Share Index ETF (ZPR.TO) is 1.70%, while BMO Aggregate Bond Index ETF (ZAG.TO) has a volatility of 1.90%. This indicates that ZPR.TO experiences smaller price fluctuations and is considered to be less risky than ZAG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZPR.TOZAG.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.70%

1.90%

-0.20%

Volatility (6M)

Calculated over the trailing 6-month period

3.39%

2.96%

+0.43%

Volatility (1Y)

Calculated over the trailing 1-year period

7.44%

4.65%

+2.79%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.33%

6.53%

+1.80%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.56%

7.09%

+4.47%