ZST.TO vs. ZIN.TO
ZST.TO (BMO Ultra Short-Term Bond ETF) and ZIN.TO (BMO Equal Weight Industrials Index ETF) are both exchange-traded funds - ZST.TO is a Canadian Government Bonds fund actively managed by BMO, while ZIN.TO is a Industrials Equities fund tracking the Solactive Equal Weight Canada Industrials Index. ZST.TO is actively managed, while ZIN.TO is passively managed. Over the past 10 years, ZST.TO returned 2.38%/yr vs 13.64%/yr for ZIN.TO. At a 0.01 correlation, their price movements are largely independent. ZST.TO charges 0.17%/yr vs 0.61%/yr for ZIN.TO.
Performance
ZST.TO vs. ZIN.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZST.TO achieves a 1.16% return, which is significantly lower than ZIN.TO's 20.76% return. Over the past 10 years, ZST.TO has underperformed ZIN.TO with an annualized return of 2.38%, while ZIN.TO has yielded a comparatively higher 13.64% annualized return.
ZST.TO
- 1D
- 0.00%
- 1M
- 0.27%
- YTD
- 1.16%
- 6M
- 0.31%
- 1Y
- 1.72%
- 3Y*
- 3.89%
- 5Y*
- 3.00%
- 10Y*
- 2.38%
ZIN.TO
- 1D
- 1.63%
- 1M
- 1.38%
- YTD
- 20.76%
- 6M
- 20.78%
- 1Y
- 38.91%
- 3Y*
- 20.19%
- 5Y*
- 12.78%
- 10Y*
- 13.64%
ZST.TO vs. ZIN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZST.TO BMO Ultra Short-Term Bond ETF | 1.16% | 2.06% | 5.21% | 5.38% | 1.22% | 0.24% | 1.77% | 2.39% | 1.99% | 1.47% |
ZIN.TO BMO Equal Weight Industrials Index ETF | 20.76% | 16.80% | 16.33% | 19.36% | -8.05% | 17.86% | 6.62% | 22.67% | -6.61% | 17.73% |
Correlation
The correlation between ZST.TO and ZIN.TO is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2012 | 0.01 |
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Return for Risk
ZST.TO vs. ZIN.TO — Risk / Return Rank
ZST.TO
ZIN.TO
ZST.TO vs. ZIN.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 BMO Equal Weight Industrials Index ETF (ZIN.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 | ZIN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.93 | ||
| Sortino ratioReturn per unit of downside risk | -1.61 | ||
| Omega ratioGain probability vs. loss probability | 1.85 | 1.44 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 4.73 | -3.01 |
| Martin ratioReturn relative to average drawdown | 4.62 | 16.59 | -11.97 |
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Drawdowns
ZST.TO vs. ZIN.TO - Drawdown Comparison
The maximum ZST.TO drawdown since its inception was -3.60%, smaller than the maximum ZIN.TO drawdown of -44.01%. Use the drawdown chart below to compare losses from any high point for ZST.TO and ZIN.TO.
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Drawdown Indicators
| ZST.TO | ZIN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.60% | -44.01% | +40.41% |
Max Drawdown (1Y)Largest decline over 1 year | -1.01% | -8.10% | +7.09% |
Max Drawdown (3Y)Largest decline over 3 years | -1.01% | -22.39% | +21.38% |
Max Drawdown (5Y)Largest decline over 5 years | -1.01% | -23.10% | +22.09% |
Max Drawdown (10Y)Largest decline over 10 years | -1.06% | -44.01% | +42.95% |
Current DrawdownCurrent decline from peak | 0.00% | -2.95% | +2.95% |
Average DrawdownAverage peak-to-trough decline | -0.58% | -5.79% | +5.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.37% | 2.30% | -1.93% |
Volatility
ZST.TO vs. ZIN.TO - Volatility Comparison
The current volatility for BMO Ultra Short-Term Bond ETF (ZST.TO) is 0.08%, while BMO Equal Weight Industrials Index ETF (ZIN.TO) has a volatility of 4.99%. This indicates that ZST.TO experiences smaller price fluctuations and is considered to be less risky than ZIN.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 | ZIN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.08% | 4.99% | -4.91% |
Volatility (6M)Calculated over the trailing 6-month period | 1.05% | 12.05% | -11.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.08% | 15.15% | -14.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.72% | 16.79% | -16.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.71% | 18.07% | -17.36% |
ZST.TO vs. ZIN.TO - Expense Ratio Comparison
ZST.TO has a 0.17% expense ratio, which is lower than ZIN.TO's 0.61% expense ratio.
Dividends
ZST.TO vs. ZIN.TO - Dividend Comparison
ZST.TO's dividend yield for the trailing twelve months is around 2.56%, more than ZIN.TO's 0.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZIN.TO BMO Equal Weight Industrials Index ETF | 0.97% | 1.22% | 1.42% | 1.68% | 2.01% | 1.84% | 2.10% | 2.32% | 1.82% | 1.35% | 1.48% | 2.25% |
ZST.TO BMO Ultra Short-Term Bond ETF | 2.56% | 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 ZIN.TO have a correlation of 0.11, 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 0.61% for ZIN.TO.
ZST.TO is categorized as Canadian Government Bonds, while ZIN.TO is Industrials Equities. Their fees differ too: 0.17% for ZST.TO and 0.61% for ZIN.TO.
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