ZSP.TO vs. ETH-USD

Last updated Jun 9, 2026

ZSP.TO (BMO S&P 500 Index ETF) is S&P 500 fund tracking the S&P 500 Index, while ETH-USD (Ethereum) is a cryptocurrency. Over the past 10 years, ZSP.TO returned 16.03%/yr vs 62.81%/yr for ETH-USD. At a 0.15 correlation, their price movements are largely independent.

Performance

ZSP.TO vs. ETH-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO S&P 500 Index ETF (ZSP.TO) and Ethereum (ETH-USD). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ZSP.TO is traded in CAD, while ETH-USD is traded in USD. To make them comparable, the ETH-USD values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ZSP.TO achieves a 10.37% return, which is significantly higher than ETH-USD's -42.96% return. Over the past 10 years, ZSP.TO has underperformed ETH-USD with an annualized return of 16.03%, while ETH-USD has yielded a comparatively higher 62.81% annualized return.

ZSP.TO

• 1D: 0.34%
• 1M: 2.27%
• YTD: 10.37%
• 6M: 9.38%
• 1Y: 26.98%
• 3Y*: 22.94%
• 5Y*: 16.43%
• 10Y*: 16.03%

ETH-USD

• 1D: 5.29%
• 1M: -26.47%
• YTD: -42.96%
• 6M: -46.39%
• 1Y: -31.57%
• 3Y*: -1.96%
• 5Y*: -6.03%
• 10Y*: 62.81%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ZSP.TO vs. ETH-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ZSP.TO BMO S&P 500 Index ETF	10.37%	12.36%	35.07%	23.30%	-12.68%	27.54%	15.61%	24.69%	3.28%	13.60%
ETH-USD Ethereum	-42.96%	-14.98%	57.10%	87.20%	-65.31%	398.05%	460.27%	-5.58%	-81.10%	8,404.05%

Correlation

The correlation between ZSP.TO and ETH-USD is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (10Y) Calculated over the trailing 10-year period	0.17
Correlation (All Time) Calculated using the full available price history since Aug 8, 2015	0.15

Over the past year, ZSP.TO and ETH-USD have become more correlated (0.37) than their long-term average of 0.15, meaning their price movements have been converging.

Return for Risk

ZSP.TO vs. ETH-USD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ZSP.TO

ZSP.TO Risk / Return Rank: 75
ZSP.TO Sharpe Ratio Rank: 80
ZSP.TO Sortino Ratio Rank: 78
ZSP.TO Omega Ratio Rank: 80
ZSP.TO Calmar Ratio Rank: 69
ZSP.TO Martin Ratio Rank: 70

ETH-USD

ETH-USD Risk / Return Rank: 68
ETH-USD Sharpe Ratio Rank: 66
ETH-USD Sortino Ratio Rank: 65
ETH-USD Omega Ratio Rank: 65
ETH-USD Calmar Ratio Rank: 74
ETH-USD Martin Ratio Rank: 73

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.

ZSP.TO vs. ETH-USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO S&P 500 Index ETF (ZSP.TO) and Ethereum (ETH-USD). 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.

	ZSP.TO	ETH-USD	Difference
Sharpe ratio: Return per unit of total volatility	2.32	-0.47	+2.79
Sortino ratio: Return per unit of downside risk	3.12	-0.34	+3.46
Omega ratio: Gain probability vs. loss probability	1.43	0.96	+0.47
Calmar ratio: Return relative to maximum drawdown	3.15	-0.47	+3.62
Martin ratio: Return relative to average drawdown	11.81	-0.81	+12.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZSP.TO vs. ETH-USD - Sharpe Ratio Comparison

The current ZSP.TO Sharpe Ratio is 2.32, which is higher than the ETH-USD Sharpe Ratio of -0.47. The chart below compares the historical Sharpe Ratios of ZSP.TO and ETH-USD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ZSP.TO	ETH-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.32	-0.47	+2.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.10	-0.08	+1.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.98	0.66	+0.33
Sharpe Ratio (All Time) Calculated using the full available price history	1.14	0.74	+0.40

Drawdowns

ZSP.TO vs. ETH-USD - Drawdown Comparison

The maximum ZSP.TO drawdown since its inception was -26.94%, smaller than the maximum ETH-USD drawdown of -93.08%. Use the drawdown chart below to compare losses from any high point for ZSP.TO and ETH-USD.

Drawdown Indicators

	ZSP.TO	ETH-USD	Difference
Max Drawdown Largest peak-to-trough decline	-26.94%	-93.08%	+66.14%
Max Drawdown (1Y) Largest decline over 1 year	-8.61%	-67.22%	+58.61%
Max Drawdown (3Y) Largest decline over 3 years	-18.95%	-67.22%	+48.27%
Max Drawdown (5Y) Largest decline over 5 years	-22.25%	-77.50%	+55.25%
Max Drawdown (10Y) Largest decline over 10 years	-26.94%	-93.08%	+66.14%
Current Drawdown Current decline from peak	-2.03%	-65.49%	+63.46%
Average Drawdown Average peak-to-trough decline	-3.34%	-48.54%	+45.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.29%	45.15%	-42.86%

Volatility

ZSP.TO vs. ETH-USD - Volatility Comparison

The current volatility for BMO S&P 500 Index ETF (ZSP.TO) is 3.87%, while Ethereum (ETH-USD) has a volatility of 15.81%. This indicates that ZSP.TO experiences smaller price fluctuations and is considered to be less risky than ETH-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZSP.TO	ETH-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.87%	15.81%	-11.94%
Volatility (6M) Calculated over the trailing 6-month period	9.00%	45.76%	-36.76%
Volatility (1Y) Calculated over the trailing 1-year period	11.71%	55.59%	-43.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.00%	60.03%	-45.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.38%	79.31%	-62.93%

Frequently Asked Questions

Can I hold both ZSP.TO and ETH-USD in my portfolio?

ZSP.TO and ETH-USD have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.