ZSDB.TO vs. ZCN.TO
Compare and contrast key facts about BMO Short-Term Discount Bond ETF (ZSDB.TO) and BMO S&P/TSX Capped Composite Index ETF (ZCN.TO).
ZSDB.TO and ZCN.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZSDB.TO is an actively managed fund by BMO. It was launched on Jan 24, 2022. ZCN.TO is a passively managed fund by BMO that tracks the performance of the S&P/TSX Capped Composite Index. It was launched on May 29, 2009.
Performance
ZSDB.TO vs. ZCN.TO - Performance Comparison
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ZSDB.TO vs. ZCN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ZSDB.TO BMO Short-Term Discount Bond ETF | 0.01% | 2.56% | 6.02% | 5.94% | -2.83% |
ZCN.TO BMO S&P/TSX Capped Composite Index ETF | 3.87% | 31.51% | 21.64% | 11.63% | -2.83% |
Returns By Period
In the year-to-date period, ZSDB.TO achieves a 0.01% return, which is significantly lower than ZCN.TO's 3.87% return.
ZSDB.TO
- 1D
- 0.18%
- 1M
- -0.90%
- YTD
- 0.01%
- 6M
- -0.73%
- 1Y
- 0.96%
- 3Y*
- 4.44%
- 5Y*
- —
- 10Y*
- —
ZCN.TO
- 1D
- 2.58%
- 1M
- -4.34%
- YTD
- 3.87%
- 6M
- 10.37%
- 1Y
- 34.66%
- 3Y*
- 21.07%
- 5Y*
- 14.77%
- 10Y*
- 12.59%
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ZSDB.TO vs. ZCN.TO - Expense Ratio Comparison
ZSDB.TO has a 0.09% expense ratio, which is higher than ZCN.TO's 0.06% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
ZSDB.TO vs. ZCN.TO — Risk / Return Rank
ZSDB.TO
ZCN.TO
ZSDB.TO vs. ZCN.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 BMO S&P/TSX Capped Composite Index ETF (ZCN.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.
| ZSDB.TO | ZCN.TO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.42 | 2.28 | -1.86 |
Sortino ratioReturn per unit of downside risk | 0.50 | 2.88 | -2.37 |
Omega ratioGain probability vs. loss probability | 1.09 | 1.45 | -0.36 |
Calmar ratioReturn relative to maximum drawdown | 0.55 | 3.23 | -2.68 |
Martin ratioReturn relative to average drawdown | 1.60 | 14.59 | -12.99 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ZSDB.TO | ZCN.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.42 | 2.28 | -1.86 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.14 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.85 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.05 | 0.66 | +0.40 |
Correlation
The correlation between ZSDB.TO and ZCN.TO is 0.12, 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
ZSDB.TO vs. ZCN.TO - Dividend Comparison
ZSDB.TO's dividend yield for the trailing twelve months is around 1.31%, less than ZCN.TO's 2.16% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZSDB.TO BMO Short-Term Discount Bond ETF | 1.31% | 1.28% | 1.33% | 1.75% | 1.77% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZCN.TO BMO S&P/TSX Capped Composite Index ETF | 2.16% | 2.22% | 2.78% | 3.29% | 3.27% | 2.74% | 3.24% | 3.13% | 3.16% | 2.71% | 2.84% | 3.33% |
Drawdowns
ZSDB.TO vs. ZCN.TO - Drawdown Comparison
The maximum ZSDB.TO drawdown since its inception was -4.88%, smaller than the maximum ZCN.TO drawdown of -37.18%. Use the drawdown chart below to compare losses from any high point for ZSDB.TO and ZCN.TO.
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Drawdown Indicators
| ZSDB.TO | ZCN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.88% | -37.18% | +32.30% |
Max Drawdown (1Y)Largest decline over 1 year | -1.93% | -11.02% | +9.09% |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.25% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.18% | — |
Current DrawdownCurrent decline from peak | -1.39% | -4.89% | +3.50% |
Average DrawdownAverage peak-to-trough decline | -0.77% | -4.80% | +4.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 2.44% | -1.78% |
Volatility
ZSDB.TO vs. ZCN.TO - Volatility Comparison
The current volatility for BMO Short-Term Discount Bond ETF (ZSDB.TO) is 0.92%, while BMO S&P/TSX Capped Composite Index ETF (ZCN.TO) has a volatility of 5.93%. This indicates that ZSDB.TO experiences smaller price fluctuations and is considered to be less risky than ZCN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZSDB.TO | ZCN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.92% | 5.93% | -5.01% |
Volatility (6M)Calculated over the trailing 6-month period | 1.98% | 10.88% | -8.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.31% | 15.29% | -12.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.66% | 13.02% | -9.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.66% | 14.96% | -11.30% |