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ZTIP.TO vs. ZLB.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ZTIP.TO vs. ZLB.TO

Last updated Apr 1, 2026

Compare and contrast key facts about BMO Short-Term US TIPS Index ETF (ZTIP.TO) and BMO Low Volatility Canadian Equity ETF (ZLB.TO).

ZTIP.TO and ZLB.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. ZLB.TO is an actively managed fund by BMO. It was launched on Oct 21, 2011.

Performance

ZTIP.TO vs. ZLB.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 Low Volatility Canadian Equity ETF (ZLB.TO). The values are adjusted to include any dividend payments, if applicable.

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

2026 (YTD)20252024202320222021
ZTIP.TO
BMO Short-Term US TIPS Index ETF		2.50%1.12%13.84%1.93%3.96%4.47%
ZLB.TO
BMO Low Volatility Canadian Equity ETF		1.42%20.31%15.20%9.29%-0.46%22.27%

Returns By Period

In the year-to-date period, ZTIP.TO achieves a 2.50% return, which is significantly higher than ZLB.TO's 1.42% 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*
—

ZLB.TO

1D
1.23%
1M
-2.74%
YTD
1.42%
6M
2.74%
1Y
15.44%
3Y*
12.86%
5Y*
11.57%
10Y*
10.13%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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BMO Short-Term US TIPS Index ETF

BMO Low Volatility Canadian Equity ETF

Often compared with ZTIP.TO:
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Often compared with ZLB.TO:
ZLB.TO vs. VDY.TOZLB.TO vs. XIU.TOZLB.TO vs. XDIV.TOZLB.TO vs. XMW.TOZLB.TO vs. XBAL.TOZLB.TO vs. XUT.TOZLB.TO vs. XUU-U.TO

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

ZTIP.TO has a 0.17% expense ratio, which is lower than ZLB.TO's 0.39% expense ratio.

ZLB.TO
BMO Low Volatility Canadian Equity ETF
ZTIP.TO
BMO Short-Term US TIPS Index ETF

Return for Risk

ZTIP.TO vs. ZLB.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: 1414
Overall Rank
ZTIP.TO Sharpe Ratio Rank: 1414
Sharpe Ratio Rank
ZTIP.TO Sortino Ratio Rank: 1212
Sortino Ratio Rank
ZTIP.TO Omega Ratio Rank: 1212
Omega Ratio Rank
ZTIP.TO Calmar Ratio Rank: 1616
Calmar Ratio Rank
ZTIP.TO Martin Ratio Rank: 1515
Martin Ratio Rank
ZLB.TO
ZLB.TO Risk / Return Rank: 8282
Overall Rank
ZLB.TO Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
ZLB.TO Sortino Ratio Rank: 8080
Sortino Ratio Rank
ZLB.TO Omega Ratio Rank: 8181
Omega Ratio Rank
ZLB.TO Calmar Ratio Rank: 8787
Calmar Ratio Rank
ZLB.TO Martin Ratio Rank: 8282
Martin Ratio Rank
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. ZLB.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 Low Volatility Canadian Equity ETF (ZLB.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.TOZLB.TODifference

Sharpe ratio

Return per unit of total volatility

0.10

1.48

-1.38

Sortino ratio

Return per unit of downside risk

0.16

1.99

-1.83

Omega ratio

Gain probability vs. loss probability

1.03

1.30

-0.27

Calmar ratio

Return relative to maximum drawdown

0.21

2.57

-2.36

Martin ratio

Return relative to average drawdown

0.43

8.71

-8.28

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. ZLB.TO - Sharpe Ratio Comparison

The current ZTIP.TO Sharpe Ratio is 0.10, which is lower than the ZLB.TO Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of ZTIP.TO and ZLB.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.

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Sharpe Ratios by Period

ZTIP.TOZLB.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.10

1.48

-1.38

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.87

1.22

-0.34

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.84

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.84

1.12

-0.28

Correlation

The correlation between ZTIP.TO and ZLB.TO is -0.07. 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. ZLB.TO - Dividend Comparison

ZTIP.TO's dividend yield for the trailing twelve months is around 3.46%, more than ZLB.TO's 1.92% yield.

TTM20252024202320222021202020192018201720162015
ZTIP.TO
BMO Short-Term US TIPS Index ETF		3.46%3.63%3.63%4.91%4.93%0.38%0.00%0.00%0.00%0.00%0.00%0.00%
ZLB.TO
BMO Low Volatility Canadian Equity ETF		1.92%1.93%2.28%2.56%2.56%2.29%2.72%2.34%2.65%2.42%2.82%2.25%

Drawdowns

ZTIP.TO vs. ZLB.TO - Drawdown Comparison

The maximum ZTIP.TO drawdown since its inception was -5.60%, smaller than the maximum ZLB.TO drawdown of -33.96%. Use the drawdown chart below to compare losses from any high point for ZTIP.TO and ZLB.TO.

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Drawdown Indicators

ZTIP.TOZLB.TODifference

Max Drawdown

Largest peak-to-trough decline

-5.60%

-33.96%

+28.36%

Max Drawdown (1Y)

Largest decline over 1 year

-5.59%

-6.53%

+0.94%

Max Drawdown (5Y)

Largest decline over 5 years

-5.60%

-13.04%

+7.44%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.96%

—

Current Drawdown

Current decline from peak

-0.20%

-3.08%

+2.88%

Average Drawdown

Average peak-to-trough decline

-1.56%

-2.51%

+0.95%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.72%

1.93%

+0.79%

Volatility

ZTIP.TO vs. ZLB.TO - Volatility Comparison

The current volatility for BMO Short-Term US TIPS Index ETF (ZTIP.TO) is 1.45%, while BMO Low Volatility Canadian Equity ETF (ZLB.TO) has a volatility of 3.64%. This indicates that ZTIP.TO experiences smaller price fluctuations and is considered to be less risky than ZLB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZTIP.TOZLB.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.45%

3.64%

-2.19%

Volatility (6M)

Calculated over the trailing 6-month period

3.26%

7.64%

-4.38%

Volatility (1Y)

Calculated over the trailing 1-year period

5.50%

10.52%

-5.02%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.40%

9.57%

-3.17%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.36%

12.19%

-5.83%