ZSU.TO vs. ZMMK.TO
ZSU.TO (BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF) and ZMMK.TO (BMO Money Market Fund ETF Series) are both exchange-traded funds - ZSU.TO is a Short-Term Bond fund managed by BMO, while ZMMK.TO is a Money Market fund actively managed by BMO. Over the past 3 years, ZSU.TO returned 4.05%/yr vs 3.78%/yr for ZMMK.TO. At a correlation of -0.02, they often move in opposite directions.
Performance
ZSU.TO vs. ZMMK.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZSU.TO achieves a -0.19% return, which is significantly lower than ZMMK.TO's 1.17% 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%
ZMMK.TO
- 1D
- 0.02%
- 1M
- 0.22%
- YTD
- 1.17%
- 6M
- 1.17%
- 1Y
- 2.50%
- 3Y*
- 3.78%
- 5Y*
- —
- 10Y*
- —
ZSU.TO vs. ZMMK.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ZSU.TO BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF | -0.19% | 4.61% | 3.84% | 5.18% | -6.17% | 0.35% |
ZMMK.TO BMO Money Market Fund ETF Series | 1.17% | 2.77% | 4.94% | 4.86% | 1.99% | 0.04% |
Correlation
The correlation between ZSU.TO and ZMMK.TO is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2021 | -0.02 |
The correlation between ZSU.TO and ZMMK.TO shifts across timeframes, from -0.02 (all time) to 0.10 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ZSU.TO vs. ZMMK.TO — Risk / Return Rank
ZSU.TO
ZMMK.TO
ZSU.TO vs. ZMMK.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 BMO Money Market Fund ETF Series (ZMMK.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 | ZMMK.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -8.50 | ||
| Sortino ratioReturn per unit of downside risk | -21.23 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 5.25 | -4.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.13 | 62.69 | -61.56 |
| Martin ratioReturn relative to average drawdown | 3.08 | 351.07 | -347.99 |
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Drawdowns
ZSU.TO vs. ZMMK.TO - Drawdown Comparison
The maximum ZSU.TO drawdown since its inception was -12.35%, which is greater than ZMMK.TO's maximum drawdown of -0.16%. Use the drawdown chart below to compare losses from any high point for ZSU.TO and ZMMK.TO.
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Drawdown Indicators
| ZSU.TO | ZMMK.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.35% | -0.16% | -12.19% |
Max Drawdown (1Y)Largest decline over 1 year | -1.49% | -0.04% | -1.45% |
Max Drawdown (3Y)Largest decline over 3 years | -1.49% | -0.08% | -1.41% |
Max Drawdown (5Y)Largest decline over 5 years | -10.02% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -12.35% | — | — |
Current DrawdownCurrent decline from peak | -0.77% | 0.00% | -0.77% |
Average DrawdownAverage peak-to-trough decline | -1.62% | -0.00% | -1.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 0.01% | +0.54% |
Volatility
ZSU.TO vs. ZMMK.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 BMO Money Market Fund ETF Series (ZMMK.TO) at 0.07%. This indicates that ZSU.TO's price experiences larger fluctuations and is considered to be riskier than ZMMK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZSU.TO | ZMMK.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.53% | 0.07% | +0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 1.75% | 0.19% | +1.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.56% | 0.27% | +2.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.69% | 0.34% | +3.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.47% | 0.34% | +4.13% |
Dividends
ZSU.TO vs. ZMMK.TO - Dividend Comparison
ZSU.TO's dividend yield for the trailing twelve months is around 4.31%, more than ZMMK.TO's 2.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZMMK.TO BMO Money Market Fund ETF Series | 2.49% | 3.02% | 4.66% | 4.98% | 1.95% | 0.04% | 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
ZSU.TO and ZMMK.TO have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZSU.TO is categorized as Short-Term Bond, while ZMMK.TO is Money Market.
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