ZTIP.TO vs. AVDV
ZTIP.TO (BMO Short-Term US TIPS Index ETF) and AVDV (Avantis International Small Cap Value ETF) are both exchange-traded funds - ZTIP.TO is a Inflation-Protected Bonds fund tracking the Bloomberg Barclays U.S. Government Inflation-Linked 0-5 Year Bond Index, while AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis. ZTIP.TO is passively managed, while AVDV is actively managed. Over the past 5 years, ZTIP.TO returned 6.27%/yr vs 16.85%/yr for AVDV. At a correlation of -0.17, they often move in opposite directions. ZTIP.TO charges 0.17%/yr vs 0.36%/yr for AVDV.
Performance
ZTIP.TO vs. AVDV - Performance Comparison
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Different Trading Currencies
ZTIP.TO is traded in CAD, while AVDV is traded in USD. To make them comparable, the AVDV values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, ZTIP.TO achieves a 5.25% return, which is significantly lower than AVDV's 16.62% return.
ZTIP.TO
- 1D
- 0.27%
- 1M
- 2.87%
- YTD
- 5.25%
- 6M
- 5.58%
- 1Y
- 7.50%
- 3Y*
- 7.76%
- 5Y*
- 6.27%
- 10Y*
- —
AVDV
- 1D
- -0.38%
- 1M
- 0.50%
- YTD
- 16.62%
- 6M
- 15.99%
- 1Y
- 43.70%
- 3Y*
- 30.48%
- 5Y*
- 16.85%
- 10Y*
- —
ZTIP.TO vs. AVDV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ZTIP.TO BMO Short-Term US TIPS Index ETF | 5.25% | 1.12% | 13.84% | 1.93% | 3.96% | 4.47% |
AVDV Avantis International Small Cap Value ETF | 16.60% | 42.55% | 17.87% | 14.07% | -5.86% | 13.74% |
Correlation
The correlation between ZTIP.TO and AVDV is -0.23, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.18 |
Correlation (All Time) Calculated using the full available price history since Jan 26, 2021 | -0.17 |
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Return for Risk
ZTIP.TO vs. AVDV — Risk / Return Rank
ZTIP.TO
AVDV
ZTIP.TO vs. AVDV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Short-Term US TIPS Index ETF (ZTIP.TO) and Avantis International Small Cap Value ETF (AVDV). 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.
| ZTIP.TO | AVDV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.99 | ||
| Sortino ratioReturn per unit of downside risk | -1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.46 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 3.43 | -1.43 |
| Martin ratioReturn relative to average drawdown | 5.36 | 14.04 | -8.68 |
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Drawdowns
ZTIP.TO vs. AVDV - Drawdown Comparison
The maximum ZTIP.TO drawdown since its inception was -5.60%, smaller than the maximum AVDV drawdown of -37.43%. Use the drawdown chart below to compare losses from any high point for ZTIP.TO and AVDV.
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Drawdown Indicators
| ZTIP.TO | AVDV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.60% | -37.43% | +31.83% |
Max Drawdown (1Y)Largest decline over 1 year | -3.78% | -12.81% | +9.03% |
Max Drawdown (3Y)Largest decline over 3 years | -5.60% | -14.53% | +8.93% |
Max Drawdown (5Y)Largest decline over 5 years | -5.60% | -22.53% | +16.93% |
Current DrawdownCurrent decline from peak | 0.00% | -2.76% | +2.76% |
Average DrawdownAverage peak-to-trough decline | -1.52% | -4.99% | +3.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.40% | 3.12% | -1.72% |
Volatility
ZTIP.TO vs. AVDV - Volatility Comparison
The current volatility for BMO Short-Term US TIPS Index ETF (ZTIP.TO) is 1.04%, while Avantis International Small Cap Value ETF (AVDV) has a volatility of 6.46%. This indicates that ZTIP.TO experiences smaller price fluctuations and is considered to be less risky than AVDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZTIP.TO | AVDV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.04% | 6.46% | -5.42% |
Volatility (6M)Calculated over the trailing 6-month period | 3.08% | 14.46% | -11.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.58% | 16.64% | -12.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.34% | 18.25% | -11.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.26% | 20.44% | -14.18% |
ZTIP.TO vs. AVDV - Expense Ratio Comparison
ZTIP.TO has a 0.17% expense ratio, which is lower than AVDV's 0.36% expense ratio.
Dividends
ZTIP.TO vs. AVDV - Dividend Comparison
ZTIP.TO's dividend yield for the trailing twelve months is around 3.37%, more than AVDV's 2.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
AVDV Avantis International Small Cap Value ETF | 2.82% | 3.05% | 4.31% | 3.29% | 3.17% | 2.39% | 1.67% | 0.36% |
ZTIP.TO BMO Short-Term US TIPS Index ETF | 3.37% | 3.63% | 3.63% | 4.91% | 4.93% | 0.38% | 0.00% | 0.00% |
Frequently Asked Questions
ZTIP.TO and AVDV have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZTIP.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZTIP.TO is cheaper with a 0.17% expense ratio, compared with 0.36% for AVDV.
ZTIP.TO is categorized as Inflation-Protected Bonds, while AVDV is Foreign Small & Mid Cap Equities. They also come from different issuers: BMO and Avantis. Their fees differ too: 0.17% for ZTIP.TO and 0.36% for AVDV.
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