ZTIP.TO vs. ZEQT.TO

Last updated Apr 1, 2026

Compare and contrast key facts about BMO Short-Term US TIPS Index ETF (ZTIP.TO) and BMO All-Equity ETF (ZEQT.TO).

ZTIP.TO and ZEQT.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZTIP.TO is a passively managed fund by BMO that tracks the performance of the Bloomberg Barclays U.S. Government Inflation-Linked 0-5 Year Bond Index. It was launched on Jan 26, 2021. ZEQT.TO is an actively managed fund by BMO. It was launched on Jan 24, 2022.

Performance

ZTIP.TO vs. ZEQT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Short-Term US TIPS Index ETF (ZTIP.TO) and BMO All-Equity ETF (ZEQT.TO). The values are adjusted to include any dividend payments, if applicable.

ZTIP.TO vs. ZEQT.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
ZTIP.TO BMO Short-Term US TIPS Index ETF	2.50%	1.12%	13.84%	1.93%	4.29%
ZEQT.TO BMO All-Equity ETF	0.41%	19.67%	25.44%	16.79%	-5.55%

Returns By Period

In the year-to-date period, ZTIP.TO achieves a 2.50% return, which is significantly higher than ZEQT.TO's 0.41% return.

ZTIP.TO

• 1D: -0.06%
• 1M: 1.99%
• YTD: 2.50%
• 6M: 1.44%
• 1Y: 0.54%
• 3Y*: 5.58%
• 5Y*: 5.57%
• 10Y*: —

ZEQT.TO

• 1D: 1.39%
• 1M: -5.86%
• YTD: 0.41%
• 6M: 3.36%
• 1Y: 20.63%
• 3Y*: 18.47%
• 5Y*: —
• 10Y*: —

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

ZTIP.TO vs. ZEQT.TO - Expense Ratio Comparison

ZTIP.TO has a 0.17% expense ratio, which is lower than ZEQT.TO's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

ZEQT.TO

BMO All-Equity ETF

ZTIP.TO

BMO Short-Term US TIPS Index ETF

Return for Risk

ZTIP.TO vs. ZEQT.TO — Risk / Return Rank

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

ZTIP.TO

ZTIP.TO Risk / Return Rank: 14
ZTIP.TO Sharpe Ratio Rank: 14
ZTIP.TO Sortino Ratio Rank: 12
ZTIP.TO Omega Ratio Rank: 12
ZTIP.TO Calmar Ratio Rank: 16
ZTIP.TO Martin Ratio Rank: 15

ZEQT.TO

ZEQT.TO Risk / Return Rank: 75
ZEQT.TO Sharpe Ratio Rank: 74
ZEQT.TO Sortino Ratio Rank: 74
ZEQT.TO Omega Ratio Rank: 75
ZEQT.TO Calmar Ratio Rank: 74
ZEQT.TO Martin Ratio Rank: 77

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.

ZTIP.TO vs. ZEQT.TO - 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 BMO All-Equity ETF (ZEQT.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.

	ZTIP.TO	ZEQT.TO	Difference
Sharpe ratio Return per unit of total volatility	0.10	1.26	-1.17
Sortino ratio Return per unit of downside risk	0.16	1.78	-1.61
Omega ratio Gain probability vs. loss probability	1.03	1.27	-0.24
Calmar ratio Return relative to maximum drawdown	0.21	1.80	-1.59
Martin ratio Return relative to average drawdown	0.43	7.72	-7.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZTIP.TO vs. ZEQT.TO - Sharpe Ratio Comparison

The current ZTIP.TO Sharpe Ratio is 0.10, which is lower than the ZEQT.TO Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of ZTIP.TO and ZEQT.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ZTIP.TO	ZEQT.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.10	1.26	-1.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	1.01	-0.17

Correlation

The correlation between ZTIP.TO and ZEQT.TO is -0.10. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

ZTIP.TO vs. ZEQT.TO - Dividend Comparison

ZTIP.TO's dividend yield for the trailing twelve months is around 3.46%, more than ZEQT.TO's 1.45% yield.

	TTM	2025	2024	2023	2022	2021
ZTIP.TO BMO Short-Term US TIPS Index ETF	3.46%	3.63%	3.63%	4.91%	4.93%	0.38%
ZEQT.TO BMO All-Equity ETF	1.45%	1.45%	1.69%	2.13%	2.43%	0.00%

Drawdowns

ZTIP.TO vs. ZEQT.TO - Drawdown Comparison

The maximum ZTIP.TO drawdown since its inception was -5.60%, smaller than the maximum ZEQT.TO drawdown of -16.87%. Use the drawdown chart below to compare losses from any high point for ZTIP.TO and ZEQT.TO.

Drawdown Indicators

	ZTIP.TO	ZEQT.TO	Difference
Max Drawdown Largest peak-to-trough decline	-5.60%	-16.87%	+11.27%
Max Drawdown (1Y) Largest decline over 1 year	-5.59%	-11.90%	+6.31%
Max Drawdown (5Y) Largest decline over 5 years	-5.60%	—	—
Current Drawdown Current decline from peak	-0.20%	-5.86%	+5.66%
Average Drawdown Average peak-to-trough decline	-1.56%	-3.09%	+1.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	2.78%	-0.06%

Volatility

ZTIP.TO vs. ZEQT.TO - Volatility Comparison

The current volatility for BMO Short-Term US TIPS Index ETF (ZTIP.TO) is 1.45%, while BMO All-Equity ETF (ZEQT.TO) has a volatility of 5.74%. This indicates that ZTIP.TO experiences smaller price fluctuations and is considered to be less risky than ZEQT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZTIP.TO	ZEQT.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.45%	5.74%	-4.29%
Volatility (6M) Calculated over the trailing 6-month period	3.26%	10.05%	-6.79%
Volatility (1Y) Calculated over the trailing 1-year period	5.50%	16.41%	-10.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.40%	13.78%	-7.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.36%	13.78%	-7.42%