ZST.TO vs. ZNQ.TO
ZST.TO (BMO Ultra Short-Term Bond ETF) and ZNQ.TO (BMO NASDAQ 100 Equity Index ETF) are both exchange-traded funds - ZST.TO is a Canadian Government Bonds fund actively managed by BMO, while ZNQ.TO is a Nasdaq-100 fund tracking the NASDAQ-100 Index. ZST.TO is actively managed, while ZNQ.TO is passively managed. Over the past 5 years, ZST.TO returned 2.95%/yr vs 20.92%/yr for ZNQ.TO. At a 0.07 correlation, their price movements are largely independent. ZST.TO charges 0.17%/yr vs 0.39%/yr for ZNQ.TO.
Performance
ZST.TO vs. ZNQ.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZST.TO achieves a 1.08% return, which is significantly lower than ZNQ.TO's 22.76% return.
ZST.TO
- 1D
- 0.02%
- 1M
- 0.25%
- YTD
- 1.08%
- 6M
- 0.26%
- 1Y
- 1.68%
- 3Y*
- 3.84%
- 5Y*
- 2.95%
- 10Y*
- 2.34%
ZNQ.TO
- 1D
- 0.25%
- 1M
- 13.05%
- YTD
- 22.76%
- 6M
- 18.72%
- 1Y
- 42.93%
- 3Y*
- 29.76%
- 5Y*
- 20.92%
- 10Y*
- —
ZST.TO vs. ZNQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ZST.TO BMO Ultra Short-Term Bond ETF | 1.08% | 2.03% | 5.16% | 5.33% | 1.19% | 0.22% | 1.74% | 1.99% |
ZNQ.TO BMO NASDAQ 100 Equity Index ETF | 22.76% | 14.60% | 35.84% | 51.32% | -28.06% | 26.59% | 44.65% | 22.90% |
Correlation
The correlation between ZST.TO and ZNQ.TO is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Feb 13, 2019 | 0.07 |
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Return for Risk
ZST.TO vs. ZNQ.TO — Risk / Return Rank
ZST.TO
ZNQ.TO
ZST.TO vs. ZNQ.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 NASDAQ 100 Equity Index ETF (ZNQ.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.
| ZST.TO | ZNQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.19 | ||
| Sortino ratioReturn per unit of downside risk | -1.94 | ||
| Omega ratioGain probability vs. loss probability | 1.83 | 1.48 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 1.68 | 3.45 | -1.77 |
| Martin ratioReturn relative to average drawdown | 4.51 | 10.86 | -6.35 |
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
| ZST.TO | ZNQ.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.56 | 2.75 | -1.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 4.12 | 1.01 | +3.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 3.30 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.81 | 1.06 | +0.75 |
Drawdowns
ZST.TO vs. ZNQ.TO - Drawdown Comparison
The maximum ZST.TO drawdown since its inception was -1.06%, smaller than the maximum ZNQ.TO drawdown of -32.09%. Use the drawdown chart below to compare losses from any high point for ZST.TO and ZNQ.TO.
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Drawdown Indicators
| ZST.TO | ZNQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.06% | -32.09% | +31.03% |
Max Drawdown (1Y)Largest decline over 1 year | -1.01% | -12.50% | +11.49% |
Max Drawdown (3Y)Largest decline over 3 years | -1.01% | -22.67% | +21.66% |
Max Drawdown (5Y)Largest decline over 5 years | -1.01% | -32.09% | +31.08% |
Max Drawdown (10Y)Largest decline over 10 years | -1.06% | — | — |
Current DrawdownCurrent decline from peak | -0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.13% | -6.63% | +6.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.37% | 3.96% | -3.59% |
Volatility
ZST.TO vs. ZNQ.TO - Volatility Comparison
The current volatility for BMO Ultra Short-Term Bond ETF (ZST.TO) is 0.08%, while BMO NASDAQ 100 Equity Index ETF (ZNQ.TO) has a volatility of 4.49%. This indicates that ZST.TO experiences smaller price fluctuations and is considered to be less risky than ZNQ.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 | ZNQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.08% | 4.49% | -4.41% |
Volatility (6M)Calculated over the trailing 6-month period | 1.05% | 11.99% | -10.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.08% | 15.69% | -14.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.72% | 20.81% | -20.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.71% | 22.34% | -21.63% |
ZST.TO vs. ZNQ.TO - Expense Ratio Comparison
ZST.TO has a 0.17% expense ratio, which is lower than ZNQ.TO's 0.39% expense ratio.
Dividends
ZST.TO vs. ZNQ.TO - Dividend Comparison
ZST.TO's dividend yield for the trailing twelve months is around 2.55%, more than ZNQ.TO's 0.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZNQ.TO BMO NASDAQ 100 Equity Index ETF | 0.20% | 0.25% | 0.30% | 0.35% | 0.23% | 0.12% | 0.47% | 0.52% | 0.00% | 0.00% | 0.00% | 0.00% |
ZST.TO BMO Ultra Short-Term Bond ETF | 2.55% | 2.82% | 4.65% | 4.79% | 2.75% | 2.29% | 2.65% | 2.82% | 3.43% | 4.05% | 3.92% | 3.90% |
Frequently Asked Questions
ZST.TO and ZNQ.TO have a correlation of 0.12, 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 ZNQ.TO.
ZST.TO is categorized as Canadian Government Bonds, while ZNQ.TO is Nasdaq-100. Their fees differ too: 0.17% for ZST.TO and 0.39% for ZNQ.TO.
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