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ZTL.NEO vs. HBIL-U.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZTL.NEO vs. HBIL-U.TO

Last updated Jul 18, 2026
Documentation

ZTL.NEO (BMO Long-Term US Treasury Bond Index ETF) and HBIL-U.TO (Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units) are both Government Bonds funds. ZTL.NEO is passively managed, while HBIL-U.TO is actively managed. Over the past year, ZTL.NEO returned 5.99% vs 6.60% for HBIL-U.TO. At a 0.31 correlation, their price movements are largely independent.

Performance

ZTL.NEO vs. HBIL-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO Long-Term US Treasury Bond Index ETF (ZTL.NEO) and Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units (HBIL-U.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

ZTL.NEO is traded in CAD, while HBIL-U.TO is traded in USD. To make them comparable, the HBIL-U.TO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ZTL.NEO achieves a 1.19% return, which is significantly lower than HBIL-U.TO's 3.86% return.

ZTL.NEO

1D
0.11%
1M
-1.65%
6M
-0.83%
YTD
1.19%
1Y
5.99%
3Y*
0.06%
5Y*
-5.64%
10Y*
—

HBIL-U.TO

1D
-0.00%
1M
0.12%
6M
2.21%
YTD
3.86%
1Y
6.60%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZTL.NEO vs. HBIL-U.TO - Yearly Performance Comparison

2026 (YTD)20252024
ZTL.NEO
BMO Long-Term US Treasury Bond Index ETF		1.19%-0.43%-6.72%
HBIL-U.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units		3.86%0.03%4.69%

Correlation

The correlation between ZTL.NEO and HBIL-U.TO is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.34

Correlation (All Time)
Calculated using the full available price history since Sep 16, 2024

0.31

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

BMO Long-Term US Treasury Bond Index ETF

Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units

Often compared with ZTL.NEO:
ZTL.NEO vs. HPYT.TOZTL.NEO vs. XTLH.TOZTL.NEO vs. HPYM.TOZTL.NEO vs. XTLT.TOZTL.NEO vs. HBND.TOZTL.NEO vs. IWMZTL.NEO vs. ZUQ.TO
Often compared with HBIL-U.TO:
HBIL-U.TO vs. HYLD-U.TOHBIL-U.TO vs. HTB.TOHBIL-U.TO vs. TULB.TOHBIL-U.TO vs. ZPL.TOHBIL-U.TO vs. BANK.TOHBIL-U.TO vs. HBND.TOHBIL-U.TO vs. MIX.TO

Return for Risk

ZTL.NEO vs. HBIL-U.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZTL.NEO
ZTL.NEO Risk / Return Rank: 2121
Overall Rank
ZTL.NEO Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
ZTL.NEO Sortino Ratio Rank: 2323
Sortino Ratio Rank
ZTL.NEO Omega Ratio Rank: 2222
Omega Ratio Rank
ZTL.NEO Calmar Ratio Rank: 2020
Calmar Ratio Rank
ZTL.NEO Martin Ratio Rank: 1919
Martin Ratio Rank
HBIL-U.TO
HBIL-U.TO Risk / Return Rank: 8989
Overall Rank
HBIL-U.TO Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
HBIL-U.TO Sortino Ratio Rank: 8686
Sortino Ratio Rank
HBIL-U.TO Omega Ratio Rank: 9393
Omega Ratio Rank
HBIL-U.TO Calmar Ratio Rank: 8888
Calmar Ratio Rank
HBIL-U.TO Martin Ratio Rank: 8989
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.

ZTL.NEO vs. HBIL-U.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO Long-Term US Treasury Bond Index ETF (ZTL.NEO) and Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units (HBIL-U.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.

ZTL.NEOHBIL-U.TODifference
Sharpe ratioReturn per unit of total volatility
0.63
1.42

-0.79

Sortino ratioReturn per unit of downside risk
0.99
2.03

-1.05

Omega ratioGain probability vs. loss probability

1.12

1.25

-0.13

Calmar ratioReturn relative to maximum drawdown

0.67

1.65

-0.98

Martin ratioReturn relative to average drawdown

1.43

4.19

-2.76

ZTL.NEO vs. HBIL-U.TO - Sharpe Ratio Comparison

The current ZTL.NEO Sharpe Ratio is 0.63, which is lower than the HBIL-U.TO Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of ZTL.NEO and HBIL-U.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

ZTL.NEO vs. HBIL-U.TO - Drawdown Comparison

The maximum ZTL.NEO drawdown since its inception was -49.55%, which is greater than HBIL-U.TO's maximum drawdown of -6.68%. Use the drawdown chart below to compare losses from any high point for ZTL.NEO and HBIL-U.TO.

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Drawdown Indicators

ZTL.NEOHBIL-U.TODifference

Max Drawdown

Largest peak-to-trough decline

-49.55%

-6.68%

-42.87%

Max Drawdown (1Y)

Largest decline over 1 year

-9.01%

-4.01%

-5.00%

Max Drawdown (3Y)

Largest decline over 3 years

-15.31%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-39.89%

—

—

Current Drawdown

Current decline from peak

-40.89%

-2.20%

-38.69%

Average Drawdown

Average peak-to-trough decline

-23.94%

-2.26%

-21.68%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.22%

1.58%

+2.64%

Volatility

ZTL.NEO vs. HBIL-U.TO - Volatility Comparison

BMO Long-Term US Treasury Bond Index ETF (ZTL.NEO) has a higher volatility of 3.35% compared to Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units (HBIL-U.TO) at 1.82%. This indicates that ZTL.NEO's price experiences larger fluctuations and is considered to be riskier than HBIL-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZTL.NEOHBIL-U.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.35%

1.82%

+1.53%

Volatility (6M)

Calculated over the trailing 6-month period

7.07%

3.60%

+3.47%

Volatility (1Y)

Calculated over the trailing 1-year period

9.67%

4.68%

+4.99%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.08%

5.85%

+10.23%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.77%

5.85%

+9.92%

Dividends

ZTL.NEO vs. HBIL-U.TO - Dividend Comparison

ZTL.NEO's dividend yield for the trailing twelve months is around 3.19%, less than HBIL-U.TO's 6.74% yield.

PositionTTM202520242023202220212020201920182017
HBIL-U.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhedged Units		6.74%7.37%2.40%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
ZTL.NEO
BMO Long-Term US Treasury Bond Index ETF		3.19%3.15%3.07%3.55%3.44%2.46%2.26%2.55%2.75%2.82%

Frequently Asked Questions

ZTL.NEO and HBIL-U.TO have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

They also come from different issuers: BMO and Hamilton.

Portfolio Optimizer

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