ZSML.TO vs. ZST.TO
Compare and contrast key facts about BMO S&P US Small Cap Index ETF (ZSML.TO) and BMO Ultra Short-Term Bond ETF (ZST.TO).
ZSML.TO and ZST.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZSML.TO is a passively managed fund by BMO that tracks the performance of the S&P SmallCap 600® Index. It was launched on Jan 28, 2020. ZST.TO is an actively managed fund by BMO. It was launched on Jan 27, 2011.
Performance
ZSML.TO vs. ZST.TO - Performance Comparison
Loading graphics...
ZSML.TO vs. ZST.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ZSML.TO BMO S&P US Small Cap Index ETF | 4.62% | 0.20% | 17.47% | 12.67% | -11.12% | 28.32% | 6.20% |
ZST.TO BMO Ultra Short-Term Bond ETF | 0.59% | 2.03% | 5.16% | 5.33% | 1.19% | 0.22% | 1.37% |
Returns By Period
In the year-to-date period, ZSML.TO achieves a 4.62% return, which is significantly higher than ZST.TO's 0.59% return.
ZSML.TO
- 1D
- 1.69%
- 1M
- -2.28%
- YTD
- 4.62%
- 6M
- 4.77%
- 1Y
- 15.31%
- 3Y*
- 10.88%
- 5Y*
- 5.80%
- 10Y*
- —
ZST.TO
- 1D
- 0.06%
- 1M
- 0.21%
- YTD
- 0.59%
- 6M
- 0.20%
- 1Y
- 1.71%
- 3Y*
- 3.95%
- 5Y*
- 2.86%
- 10Y*
- 2.32%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
ZSML.TO vs. ZST.TO - Expense Ratio Comparison
ZSML.TO has a 0.22% expense ratio, which is higher than ZST.TO's 0.17% 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
ZSML.TO vs. ZST.TO — Risk / Return Rank
ZSML.TO
ZST.TO
ZSML.TO vs. ZST.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO S&P US Small Cap Index ETF (ZSML.TO) and BMO Ultra Short-Term Bond ETF (ZST.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.
| ZSML.TO | ZST.TO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.67 | 1.57 | -0.90 |
Sortino ratioReturn per unit of downside risk | 1.10 | 1.66 | -0.55 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.78 | -0.63 |
Calmar ratioReturn relative to maximum drawdown | 1.21 | 1.72 | -0.50 |
Martin ratioReturn relative to average drawdown | 4.39 | 4.78 | -0.39 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| ZSML.TO | ZST.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.67 | 1.57 | -0.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.30 | 3.99 | -3.69 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 3.25 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 1.79 | -1.39 |
Correlation
The correlation between ZSML.TO and ZST.TO is 0.04, 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
ZSML.TO vs. ZST.TO - Dividend Comparison
ZSML.TO's dividend yield for the trailing twelve months is around 1.14%, less than ZST.TO's 2.62% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZSML.TO BMO S&P US Small Cap Index ETF | 1.14% | 1.21% | 1.22% | 1.47% | 1.72% | 1.02% | 1.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZST.TO BMO Ultra Short-Term Bond ETF | 2.62% | 2.82% | 4.65% | 4.79% | 2.75% | 2.29% | 2.65% | 2.82% | 3.43% | 4.05% | 3.92% | 3.90% |
Drawdowns
ZSML.TO vs. ZST.TO - Drawdown Comparison
The maximum ZSML.TO drawdown since its inception was -35.32%, which is greater than ZST.TO's maximum drawdown of -1.06%. Use the drawdown chart below to compare losses from any high point for ZSML.TO and ZST.TO.
Loading graphics...
Drawdown Indicators
| ZSML.TO | ZST.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.32% | -1.06% | -34.26% |
Max Drawdown (1Y)Largest decline over 1 year | -14.11% | -1.01% | -13.10% |
Max Drawdown (5Y)Largest decline over 5 years | -26.87% | -1.01% | -25.86% |
Max Drawdown (10Y)Largest decline over 10 years | — | -1.06% | — |
Current DrawdownCurrent decline from peak | -4.03% | -0.40% | -3.63% |
Average DrawdownAverage peak-to-trough decline | -9.08% | -0.13% | -8.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.95% | 0.36% | +3.59% |
Volatility
ZSML.TO vs. ZST.TO - Volatility Comparison
BMO S&P US Small Cap Index ETF (ZSML.TO) has a higher volatility of 6.04% compared to BMO Ultra Short-Term Bond ETF (ZST.TO) at 0.15%. This indicates that ZSML.TO's price experiences larger fluctuations and is considered to be riskier than ZST.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| ZSML.TO | ZST.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.04% | 0.15% | +5.89% |
Volatility (6M)Calculated over the trailing 6-month period | 12.56% | 1.05% | +11.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.10% | 1.09% | +22.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.50% | 0.72% | +18.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.41% | 0.72% | +21.69% |