ZST.TO vs. PMNT.TO
ZST.TO (BMO Ultra Short-Term Bond ETF) and PMNT.TO (PIMCO Global Short Maturity Fund (Canada)) are both Ultrashort Bond funds. Both are actively managed. Over the past 5 years, ZST.TO returned 3.07%/yr vs 2.97%/yr for PMNT.TO. Their 0.06 correlation means their historical movements had little consistent relationship. ZST.TO charges 0.17%/yr vs 0.39%/yr for PMNT.TO.
Performance
ZST.TO vs. PMNT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZST.TO achieves a 1.53% return, which is significantly lower than PMNT.TO's 1.69% return.
ZST.TO
- 1D
- -0.02%
- 1M
- 0.19%
- 6M
- 1.28%
- YTD
- 1.53%
- 1Y
- 1.74%
- 3Y*
- 3.78%
- 5Y*
- 3.07%
- 10Y*
- 2.39%
- ALL TIME*
- 1.60%
PMNT.TO
- 1D
- 0.05%
- 1M
- 0.15%
- 6M
- 1.46%
- YTD
- 1.69%
- 1Y
- 3.01%
- 3Y*
- 4.13%
- 5Y*
- 2.97%
- 10Y*
- —
- ALL TIME*
- 2.53%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$78.37K | CA$50.53K | CA$54.61K | |
| CA$1.51M | CA$1.89M | CA$2.46M |
ZST.TO vs. PMNT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ZST.TO BMO Ultra Short-Term Bond ETF | 1.53% | 2.06% | 5.21% | 5.38% | 1.22% | 0.24% | 1.77% | 2.10% |
PMNT.TO PIMCO Global Short Maturity Fund (Canada) | 1.69% | 3.11% | 5.26% | 5.42% | -0.37% | 0.35% | 1.21% | 2.41% |
Correlation
The correlation between ZST.TO and PMNT.TO is 0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.04 |
Correlation (3Y) Balances recent behavior with more history. | -0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.05 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2019 | 0.06 |
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Return for Risk
ZST.TO vs. PMNT.TO — Risk / Return Rank
ZST.TO
PMNT.TO
ZST.TO vs. PMNT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Ultra Short-Term Bond ETF (ZST.TO) and PIMCO Global Short Maturity Fund (Canada) (PMNT.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.
| ZST.TO | PMNT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.86 | 1.45 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 4.80 | -3.04 |
| Martin ratioReturn relative to average drawdown | 4.74 | 15.95 | -11.21 |
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Drawdowns
ZST.TO vs. PMNT.TO - Drawdown Comparison
The maximum ZST.TO drawdown since its inception was -3.60%, smaller than the maximum PMNT.TO drawdown of -6.81%. Use the drawdown chart below to compare losses from any high point for ZST.TO and PMNT.TO.
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Drawdown Indicators
| ZST.TO | PMNT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.60% | -6.81% | +3.21% |
Max Drawdown (1Y)Largest decline over 1 year | -1.01% | -0.63% | -0.38% |
Max Drawdown (3Y)Largest decline over 3 years | -1.01% | -1.15% | +0.14% |
Max Drawdown (5Y)Largest decline over 5 years | -1.01% | -1.94% | +0.93% |
Max Drawdown (10Y)Largest decline over 10 years | -1.06% | — | — |
Current DrawdownCurrent decline from peak | -0.02% | 0.00% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -0.58% | -0.36% | -0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.37% | 0.19% | +0.18% |
Volatility
ZST.TO vs. PMNT.TO - Volatility Comparison
The current volatility for BMO Ultra Short-Term Bond ETF (ZST.TO) is 0.13%, while PIMCO Global Short Maturity Fund (Canada) (PMNT.TO) has a volatility of 0.28%. This indicates that ZST.TO experiences smaller price fluctuations and is considered to be less risky than PMNT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZST.TO | PMNT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.13% | 0.28% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 0.26% | 0.71% | -0.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.08% | 1.70% | -0.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.72% | 2.13% | -1.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.70% | 3.18% | -2.48% |
ZST.TO vs. PMNT.TO - Expense Ratio Comparison
ZST.TO has a 0.17% expense ratio, which is lower than PMNT.TO's 0.39% expense ratio.
Dividends
ZST.TO vs. PMNT.TO - Dividend Comparison
ZST.TO's dividend yield for the trailing twelve months is around 2.52%, less than PMNT.TO's 4.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PMNT.TO PIMCO Global Short Maturity Fund (Canada) | 4.38% | 4.65% | 5.48% | 4.92% | 2.60% | 1.17% | 2.68% | 2.09% | 0.00% | 0.00% | 0.00% | 0.00% |
ZST.TO BMO Ultra Short-Term Bond ETF | 2.52% | 2.85% | 4.70% | 4.84% | 2.78% | 2.31% | 2.68% | 2.84% | 3.47% | 4.09% | 3.96% | 3.94% |
Frequently Asked Questions
ZST.TO and PMNT.TO have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZST.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZST.TO is cheaper with a 0.17% expense ratio, compared with 0.39% for PMNT.TO.
They also come from different issuers: BMO and PIMCO. Their fees differ too: 0.17% for ZST.TO and 0.39% for PMNT.TO.
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