ZSU.TO vs. TCSB.TO
ZSU.TO (BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF) and TCSB.TO (TD Select Short Term Corporate Bond Ladder ETF) are both Short-Term Bond funds. Over the past 5 years, ZSU.TO returned 1.27%/yr vs 3.02%/yr for TCSB.TO. At a 0.27 correlation, their price movements are largely independent.
Performance
ZSU.TO vs. TCSB.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ZSU.TO achieves a -0.19% return, which is significantly lower than TCSB.TO's 1.56% return.
ZSU.TO
- 1D
- -0.23%
- 1M
- 0.07%
- YTD
- -0.19%
- 6M
- -0.12%
- 1Y
- 1.68%
- 3Y*
- 4.05%
- 5Y*
- 1.27%
- 10Y*
- 1.62%
TCSB.TO
- 1D
- 0.00%
- 1M
- 0.24%
- YTD
- 1.56%
- 6M
- 1.55%
- 1Y
- 3.93%
- 3Y*
- 6.01%
- 5Y*
- 3.02%
- 10Y*
- —
ZSU.TO vs. TCSB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ZSU.TO BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF | -0.19% | 4.61% | 3.84% | 5.18% | -6.17% | -0.99% | 4.54% | 5.57% | 0.46% |
TCSB.TO TD Select Short Term Corporate Bond Ladder ETF | 1.56% | 4.71% | 6.89% | 6.95% | -4.39% | 0.14% | 5.36% | 5.72% | 0.13% |
Correlation
The correlation between ZSU.TO and TCSB.TO is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Nov 14, 2018 | 0.27 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ZSU.TO vs. TCSB.TO — Risk / Return Rank
ZSU.TO
TCSB.TO
ZSU.TO vs. TCSB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF (ZSU.TO) and TD Select Short Term Corporate Bond Ladder ETF (TCSB.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.
| ZSU.TO | TCSB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.17 | ||
| Sortino ratioReturn per unit of downside risk | -1.69 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.36 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.13 | 2.41 | -1.28 |
| Martin ratioReturn relative to average drawdown | 3.08 | 10.30 | -7.21 |
Loading charts...
Drawdowns
ZSU.TO vs. TCSB.TO - Drawdown Comparison
The maximum ZSU.TO drawdown since its inception was -12.35%, smaller than the maximum TCSB.TO drawdown of -14.90%. Use the drawdown chart below to compare losses from any high point for ZSU.TO and TCSB.TO.
Loading charts...
Drawdown Indicators
| ZSU.TO | TCSB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.35% | -14.90% | +2.55% |
Max Drawdown (1Y)Largest decline over 1 year | -1.49% | -1.64% | +0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -1.49% | -1.64% | +0.15% |
Max Drawdown (5Y)Largest decline over 5 years | -10.02% | -7.23% | -2.79% |
Max Drawdown (10Y)Largest decline over 10 years | -12.35% | — | — |
Current DrawdownCurrent decline from peak | -0.77% | -0.03% | -0.74% |
Average DrawdownAverage peak-to-trough decline | -1.62% | -1.31% | -0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 0.38% | +0.17% |
Volatility
ZSU.TO vs. TCSB.TO - Volatility Comparison
BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF (ZSU.TO) has a higher volatility of 0.53% compared to TD Select Short Term Corporate Bond Ladder ETF (TCSB.TO) at 0.39%. This indicates that ZSU.TO's price experiences larger fluctuations and is considered to be riskier than TCSB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ZSU.TO | TCSB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.53% | 0.39% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 1.75% | 1.69% | +0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.56% | 2.15% | +0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.69% | 2.95% | +0.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.47% | 5.92% | -1.45% |
Dividends
ZSU.TO vs. TCSB.TO - Dividend Comparison
ZSU.TO's dividend yield for the trailing twelve months is around 4.31%, more than TCSB.TO's 3.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TCSB.TO TD Select Short Term Corporate Bond Ladder ETF | 3.66% | 3.65% | 4.89% | 4.97% | 2.72% | 2.37% | 3.84% | 3.00% | 0.07% | 0.00% | 0.00% | 0.00% |
ZSU.TO BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF | 4.31% | 3.76% | 3.31% | 3.17% | 3.23% | 2.97% | 2.99% | 2.78% | 2.49% | 2.30% | 2.07% | 2.29% |
Frequently Asked Questions
ZSU.TO and TCSB.TO have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: BMO and TD.
Find the right allocation for ZSU.TO and TCSB.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer