ZSU.TO vs. ZSDB.TO
ZSU.TO (BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF) and ZSDB.TO (BMO Short-Term Discount Bond ETF) are both Short-Term Bond funds from BMO. Over the past year, ZSU.TO returned 1.68% vs 0.32% for ZSDB.TO. At a 0.41 correlation, their price movements are largely independent.
Performance
ZSU.TO vs. ZSDB.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 ZSDB.TO's 1.19% 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%
ZSDB.TO
- 1D
- 0.06%
- 1M
- 0.42%
- YTD
- 1.19%
- 6M
- 1.35%
- 1Y
- 0.32%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZSU.TO vs. ZSDB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ZSU.TO BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF | -0.19% | 4.61% | 3.84% | 0.08% |
ZSDB.TO BMO Short-Term Discount Bond ETF | 1.19% | 1.23% | 6.02% | 0.38% |
Correlation
The correlation between ZSU.TO and ZSDB.TO is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Dec 28, 2023 | 0.41 |
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Return for Risk
ZSU.TO vs. ZSDB.TO — Risk / Return Rank
ZSU.TO
ZSDB.TO
ZSU.TO vs. ZSDB.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 Short-Term Discount Bond ETF (ZSDB.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 | ZSDB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.03 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.13 | 0.10 | +1.03 |
| Martin ratioReturn relative to average drawdown | 3.08 | 0.19 | +2.90 |
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Drawdowns
ZSU.TO vs. ZSDB.TO - Drawdown Comparison
The maximum ZSU.TO drawdown since its inception was -12.35%, which is greater than ZSDB.TO's maximum drawdown of -3.20%. Use the drawdown chart below to compare losses from any high point for ZSU.TO and ZSDB.TO.
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Drawdown Indicators
| ZSU.TO | ZSDB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.35% | -3.20% | -9.15% |
Max Drawdown (1Y)Largest decline over 1 year | -1.49% | -3.20% | +1.71% |
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 DrawdownCurrent decline from peak | -0.77% | -1.52% | +0.75% |
Average DrawdownAverage peak-to-trough decline | -1.62% | -0.64% | -0.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 1.71% | -1.16% |
Volatility
ZSU.TO vs. ZSDB.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 Short-Term Discount Bond ETF (ZSDB.TO) at 0.40%. This indicates that ZSU.TO's price experiences larger fluctuations and is considered to be riskier than ZSDB.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 | ZSDB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.53% | 0.40% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 1.75% | 1.51% | +0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.56% | 3.27% | -0.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.69% | 2.78% | +0.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.47% | 2.78% | +1.69% |
Dividends
ZSU.TO vs. ZSDB.TO - Dividend Comparison
ZSU.TO's dividend yield for the trailing twelve months is around 4.31%, more than ZSDB.TO's 1.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZSDB.TO BMO Short-Term Discount Bond ETF | 1.35% | 1.29% | 1.33% | 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
ZSU.TO and ZSDB.TO have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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