ZSU.TO vs. TSTX-U.TO

Last updated Jul 1, 2026

ZSU.TO (BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF) and TSTX-U.TO (Global X 1-3 Year U.S. Treasury Bond Index ETF) are both Short-Term Bond funds. At a 0.40 correlation, their price movements are largely independent.

Performance

ZSU.TO vs. TSTX-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF (ZSU.TO) and Global X 1-3 Year U.S. Treasury Bond Index ETF (TSTX-U.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZSU.TO achieves a -0.19% return, which is significantly lower than TSTX-U.TO's 0.34% 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%

TSTX-U.TO

• 1D: -0.01%
• 1M: -0.21%
• YTD: 0.34%
• 6M: 0.60%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ZSU.TO vs. TSTX-U.TO - Yearly Performance Comparison

	2026 (YTD)	2025
ZSU.TO BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF	-0.19%	0.63%
TSTX-U.TO Global X 1-3 Year U.S. Treasury Bond Index ETF	0.34%	1.22%

Correlation

The correlation between ZSU.TO and TSTX-U.TO is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 9, 2025	0.40

Return for Risk

ZSU.TO vs. TSTX-U.TO — Risk / Return Rank

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

ZSU.TO

ZSU.TO Risk / Return Rank: 22
ZSU.TO Sharpe Ratio Rank: 21
ZSU.TO Sortino Ratio Rank: 19
ZSU.TO Omega Ratio Rank: 19
ZSU.TO Calmar Ratio Rank: 26
ZSU.TO Martin Ratio Rank: 25

TSTX-U.TO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

ZSU.TO vs. TSTX-U.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 Global X 1-3 Year U.S. Treasury Bond Index ETF (TSTX-U.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	TSTX-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.66	—	—
Sortino ratio: Return per unit of downside risk	0.96	—	—
Omega ratio: Gain probability vs. loss probability	1.12	—	—
Calmar ratio: Return relative to maximum drawdown	1.13	—	—
Martin ratio: Return relative to average drawdown	3.08	—	—

Drawdowns

ZSU.TO vs. TSTX-U.TO - Drawdown Comparison

The maximum ZSU.TO drawdown since its inception was -12.35%, which is greater than TSTX-U.TO's maximum drawdown of -0.90%. Use the drawdown chart below to compare losses from any high point for ZSU.TO and TSTX-U.TO.

Drawdown Indicators

	ZSU.TO	TSTX-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-12.35%	-0.90%	-11.45%
Max Drawdown (1Y) Largest decline over 1 year	-1.49%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-1.49%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-10.02%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-12.35%	—	—
Current Drawdown Current decline from peak	-0.77%	-0.24%	-0.53%
Average Drawdown Average peak-to-trough decline	-1.62%	-0.27%	-1.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.55%	—	—

Volatility

Volatility by Period

	ZSU.TO	TSTX-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.53%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.75%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.56%	1.69%	+0.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.69%	1.69%	+2.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.47%	1.69%	+2.78%

Dividends

ZSU.TO vs. TSTX-U.TO - Dividend Comparison

ZSU.TO's dividend yield for the trailing twelve months is around 4.31%, more than TSTX-U.TO's 2.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TSTX-U.TO Global X 1-3 Year U.S. Treasury Bond Index ETF	2.67%	0.84%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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

Can I hold both ZSU.TO and TSTX-U.TO in my portfolio?

ZSU.TO and TSTX-U.TO have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between ZSU.TO and TSTX-U.TO?

They also come from different issuers: BMO and Global X.