ZSDB.TO vs. DCS.TO
ZSDB.TO (BMO Short-Term Discount Bond ETF) and DCS.TO (Desjardins Canadian Short Term Bond Index ETF) are both Short-Term Bond funds. Both are actively managed. Over the past year, ZSDB.TO returned 0.48% vs 3.08% for DCS.TO. At a 0.36 correlation, their price movements are largely independent.
Performance
ZSDB.TO vs. DCS.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZSDB.TO achieves a 0.97% return, which is significantly lower than DCS.TO's 1.16% return.
ZSDB.TO
- 1D
- 0.13%
- 1M
- -0.02%
- 6M
- 0.91%
- YTD
- 0.97%
- 1Y
- 0.48%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DCS.TO
- 1D
- 0.10%
- 1M
- -0.06%
- 6M
- 0.84%
- YTD
- 1.16%
- 1Y
- 3.08%
- 3Y*
- 4.74%
- 5Y*
- 2.13%
- 10Y*
- —
ZSDB.TO vs. DCS.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ZSDB.TO BMO Short-Term Discount Bond ETF | 0.97% | 1.23% | 6.02% | 0.38% |
DCS.TO Desjardins Canadian Short Term Bond Index ETF | 1.16% | 3.51% | 5.74% | -0.03% |
Correlation
The correlation between ZSDB.TO and DCS.TO is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Dec 28, 2023 | 0.36 |
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Return for Risk
ZSDB.TO vs. DCS.TO — Risk / Return Rank
ZSDB.TO
DCS.TO
ZSDB.TO vs. DCS.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Short-Term Discount Bond ETF (ZSDB.TO) and Desjardins Canadian Short Term Bond Index ETF (DCS.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.
| ZSDB.TO | DCS.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.49 | ||
| Sortino ratioReturn per unit of downside risk | -2.22 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.35 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.15 | 2.46 | -2.30 |
| Martin ratioReturn relative to average drawdown | 0.28 | 7.99 | -7.71 |
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Drawdowns
ZSDB.TO vs. DCS.TO - Drawdown Comparison
The maximum ZSDB.TO drawdown since its inception was -3.20%, smaller than the maximum DCS.TO drawdown of -7.05%. Use the drawdown chart below to compare losses from any high point for ZSDB.TO and DCS.TO.
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Drawdown Indicators
| ZSDB.TO | DCS.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.20% | -7.05% | +3.85% |
Max Drawdown (1Y)Largest decline over 1 year | -3.20% | -1.26% | -1.94% |
Max Drawdown (3Y)Largest decline over 3 years | — | -1.26% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -6.26% | — |
Current DrawdownCurrent decline from peak | -1.73% | -0.21% | -1.52% |
Average DrawdownAverage peak-to-trough decline | -0.66% | -1.44% | +0.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.74% | 0.39% | +1.35% |
Volatility
ZSDB.TO vs. DCS.TO - Volatility Comparison
BMO Short-Term Discount Bond ETF (ZSDB.TO) and Desjardins Canadian Short Term Bond Index ETF (DCS.TO) have volatilities of 0.50% and 0.48%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZSDB.TO | DCS.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.50% | 0.48% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 1.52% | 1.42% | +0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.28% | 1.90% | +1.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.78% | 2.50% | +0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.78% | 2.64% | +0.14% |
Dividends
ZSDB.TO vs. DCS.TO - Dividend Comparison
ZSDB.TO's dividend yield for the trailing twelve months is around 1.35%, less than DCS.TO's 2.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DCS.TO Desjardins Canadian Short Term Bond Index ETF | 2.77% | 2.77% | 2.59% | 2.49% | 2.66% | 2.49% | 2.41% | 2.47% | 2.55% | 1.69% |
ZSDB.TO BMO Short-Term Discount Bond ETF | 1.35% | 1.29% | 1.33% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZSDB.TO and DCS.TO have a correlation of 0.42, 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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