PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
ZRR.TO vs. ZLB.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ZRR.TO vs. ZLB.TO

Last updated Apr 1, 2026

Compare and contrast key facts about BMO Real Return Bond Index ETF (ZRR.TO) and BMO Low Volatility Canadian Equity ETF (ZLB.TO).

ZRR.TO and ZLB.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZRR.TO is a passively managed fund by BMO that tracks the performance of the FTSE Canada Real Return Federal Non-Agency Bond Index. It was launched on May 19, 2010. ZLB.TO is an actively managed fund by BMO. It was launched on Oct 21, 2011.

Performance

ZRR.TO vs. ZLB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Real Return Bond Index ETF (ZRR.TO) and BMO Low Volatility Canadian Equity ETF (ZLB.TO). The values are adjusted to include any dividend payments, if applicable.

Loading graphics...

ZRR.TO vs. ZLB.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ZRR.TO
BMO Real Return Bond Index ETF		1.34%0.12%4.03%0.41%-14.56%1.57%12.48%8.73%-0.89%0.77%
ZLB.TO
BMO Low Volatility Canadian Equity ETF		1.42%20.31%15.20%9.29%-0.46%22.81%1.39%21.80%-2.87%10.96%

Returns By Period

In the year-to-date period, ZRR.TO achieves a 1.34% return, which is significantly lower than ZLB.TO's 1.42% return. Over the past 10 years, ZRR.TO has underperformed ZLB.TO with an annualized return of 1.20%, while ZLB.TO has yielded a comparatively higher 10.13% annualized return.

ZRR.TO

1D
0.22%
1M
-1.92%
YTD
1.34%
6M
-0.86%
1Y
-1.41%
3Y*
2.27%
5Y*
-0.09%
10Y*
1.20%

ZLB.TO

1D
1.23%
1M
-2.74%
YTD
1.42%
6M
2.74%
1Y
15.44%
3Y*
12.86%
5Y*
11.57%
10Y*
10.13%
*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 Real Return Bond Index ETF

BMO Low Volatility Canadian Equity ETF

Often compared with ZRR.TO:
ZRR.TO vs. XSTH.TOZRR.TO vs. XRB.TOZRR.TO vs. QTIP.NEOZRR.TO vs. ZTIP.TOZRR.TO vs. XSTP.TOZRR.TO vs. ZEQT.TOZRR.TO vs. ZAG.TO
Often compared with ZLB.TO:
ZLB.TO vs. VDY.TOZLB.TO vs. XIU.TOZLB.TO vs. XDIV.TOZLB.TO vs. XMW.TOZLB.TO vs. XBAL.TOZLB.TO vs. XUT.TOZLB.TO vs. XUU-U.TO

ZRR.TO vs. ZLB.TO - Expense Ratio Comparison

ZRR.TO has a 0.28% expense ratio, which is lower than ZLB.TO's 0.39% expense ratio.

ZLB.TO
BMO Low Volatility Canadian Equity ETF
ZRR.TO
BMO Real Return Bond Index ETF

Return for Risk

ZRR.TO vs. ZLB.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZRR.TO
ZRR.TO Risk / Return Rank: 99
Overall Rank
ZRR.TO Sharpe Ratio Rank: 88
Sharpe Ratio Rank
ZRR.TO Sortino Ratio Rank: 77
Sortino Ratio Rank
ZRR.TO Omega Ratio Rank: 77
Omega Ratio Rank
ZRR.TO Calmar Ratio Rank: 1111
Calmar Ratio Rank
ZRR.TO Martin Ratio Rank: 1111
Martin Ratio Rank
ZLB.TO
ZLB.TO Risk / Return Rank: 8282
Overall Rank
ZLB.TO Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
ZLB.TO Sortino Ratio Rank: 8080
Sortino Ratio Rank
ZLB.TO Omega Ratio Rank: 8181
Omega Ratio Rank
ZLB.TO Calmar Ratio Rank: 8787
Calmar Ratio Rank
ZLB.TO Martin Ratio Rank: 8282
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.

ZRR.TO vs. ZLB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Real Return Bond Index ETF (ZRR.TO) and BMO Low Volatility Canadian Equity ETF (ZLB.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.

ZRR.TOZLB.TODifference

Sharpe ratio

Return per unit of total volatility

-0.19

1.48

-1.68

Sortino ratio

Return per unit of downside risk

-0.21

1.99

-2.20

Omega ratio

Gain probability vs. loss probability

0.97

1.30

-0.32

Calmar ratio

Return relative to maximum drawdown

-0.06

2.57

-2.63

Martin ratio

Return relative to average drawdown

-0.11

8.71

-8.82

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

ZRR.TO vs. ZLB.TO - Sharpe Ratio Comparison

The current ZRR.TO Sharpe Ratio is -0.19, which is lower than the ZLB.TO Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of ZRR.TO and ZLB.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.

Loading graphics...

Sharpe Ratios by Period

ZRR.TOZLB.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.19

1.48

-1.68

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.01

1.22

-1.23

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.11

0.84

-0.72

Sharpe Ratio (All Time)

Calculated using the full available price history

0.26

1.12

-0.86

Correlation

The correlation between ZRR.TO and ZLB.TO is 0.06, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ZRR.TO vs. ZLB.TO - Dividend Comparison

ZRR.TO's dividend yield for the trailing twelve months is around 4.35%, more than ZLB.TO's 1.92% yield.

TTM20252024202320222021202020192018201720162015
ZRR.TO
BMO Real Return Bond Index ETF		4.35%4.53%4.78%6.54%6.88%1.97%2.11%2.35%2.20%2.08%1.89%1.87%
ZLB.TO
BMO Low Volatility Canadian Equity ETF		1.92%1.93%2.28%2.56%2.56%2.29%2.72%2.34%2.65%2.42%2.82%2.25%

Drawdowns

ZRR.TO vs. ZLB.TO - Drawdown Comparison

The maximum ZRR.TO drawdown since its inception was -23.84%, smaller than the maximum ZLB.TO drawdown of -33.96%. Use the drawdown chart below to compare losses from any high point for ZRR.TO and ZLB.TO.

Loading graphics...

Drawdown Indicators

ZRR.TOZLB.TODifference

Max Drawdown

Largest peak-to-trough decline

-23.84%

-33.96%

+10.12%

Max Drawdown (1Y)

Largest decline over 1 year

-5.80%

-6.53%

+0.73%

Max Drawdown (5Y)

Largest decline over 5 years

-23.84%

-13.04%

-10.80%

Max Drawdown (10Y)

Largest decline over 10 years

-23.84%

-33.96%

+10.12%

Current Drawdown

Current decline from peak

-9.45%

-3.08%

-6.37%

Average Drawdown

Average peak-to-trough decline

-6.65%

-2.51%

-4.14%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.89%

1.93%

+0.96%

Volatility

ZRR.TO vs. ZLB.TO - Volatility Comparison

The current volatility for BMO Real Return Bond Index ETF (ZRR.TO) is 2.65%, while BMO Low Volatility Canadian Equity ETF (ZLB.TO) has a volatility of 3.64%. This indicates that ZRR.TO experiences smaller price fluctuations and is considered to be less risky than ZLB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading graphics...

Volatility by Period

ZRR.TOZLB.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.65%

3.64%

-0.99%

Volatility (6M)

Calculated over the trailing 6-month period

4.36%

7.64%

-3.28%

Volatility (1Y)

Calculated over the trailing 1-year period

7.35%

10.52%

-3.17%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.55%

9.57%

+1.98%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

10.52%

12.19%

-1.67%