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ZTL.NEO vs. ZAG.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ZTL.NEO vs. ZAG.TO

Last updated Apr 2, 2026

Compare and contrast key facts about BMO Long-Term US Treasury Bond Index ETF (ZTL.NEO) and BMO Aggregate Bond Index ETF (ZAG.TO).

ZTL.NEO and ZAG.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZTL.NEO is a passively managed fund by BMO that tracks the performance of the Bloomberg U.S. Treasury 20+ Year Index. It was launched on Feb 28, 2017. ZAG.TO is a passively managed fund by BMO that tracks the performance of the FTSE Canada Universe Bond Index. It was launched on Jan 19, 2010. Both ZTL.NEO and ZAG.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ZTL.NEO vs. ZAG.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 BMO Aggregate Bond Index ETF (ZAG.TO). The values are adjusted to include any dividend payments, if applicable.

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ZTL.NEO vs. ZAG.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ZTL.NEO
BMO Long-Term US Treasury Bond Index ETF		1.22%-0.43%-0.21%0.46%-26.25%-5.72%14.95%8.69%6.67%2.82%
ZAG.TO
BMO Aggregate Bond Index ETF		-0.11%2.25%4.48%6.41%-11.60%-2.60%8.34%6.84%1.12%2.45%

Returns By Period

In the year-to-date period, ZTL.NEO achieves a 1.22% return, which is significantly higher than ZAG.TO's -0.11% return.

ZTL.NEO

1D
-0.38%
1M
-1.74%
YTD
1.22%
6M
-1.42%
1Y
-4.26%
3Y*
-1.89%
5Y*
-4.01%
10Y*
—

ZAG.TO

1D
-0.15%
1M
-1.81%
YTD
-0.11%
6M
-0.19%
1Y
0.05%
3Y*
3.29%
5Y*
0.55%
10Y*
1.65%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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BMO Long-Term US Treasury Bond Index ETF

BMO Aggregate Bond Index ETF

Often compared with ZTL.NEO:
ZTL.NEO vs. HPYM.TOZTL.NEO vs. XTLH.TOZTL.NEO vs. XTLT.TOZTL.NEO vs. HBND.TOZTL.NEO vs. ZEB.TOZTL.NEO vs. ZCN.TOZTL.NEO vs. ZEQT.TO
Often compared with ZAG.TO:
ZAG.TO vs. VAB.TOZAG.TO vs. XBB.TOZAG.TO vs. XSB.TOZAG.TO vs. ZST.TOZAG.TO vs. ZMMK.TOZAG.TO vs. XBBZAG.TO vs. XCB.TO

ZTL.NEO vs. ZAG.TO - Expense Ratio Comparison

ZTL.NEO has a 0.23% expense ratio, which is higher than ZAG.TO's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

ZTL.NEO
BMO Long-Term US Treasury Bond Index ETF
ZAG.TO
BMO Aggregate Bond Index ETF

Return for Risk

ZTL.NEO vs. ZAG.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: 66
Overall Rank
ZTL.NEO Sharpe Ratio Rank: 66
Sharpe Ratio Rank
ZTL.NEO Sortino Ratio Rank: 55
Sortino Ratio Rank
ZTL.NEO Omega Ratio Rank: 55
Omega Ratio Rank
ZTL.NEO Calmar Ratio Rank: 77
Calmar Ratio Rank
ZTL.NEO Martin Ratio Rank: 77
Martin Ratio Rank
ZAG.TO
ZAG.TO Risk / Return Rank: 1212
Overall Rank
ZAG.TO Sharpe Ratio Rank: 1212
Sharpe Ratio Rank
ZAG.TO Sortino Ratio Rank: 1010
Sortino Ratio Rank
ZAG.TO Omega Ratio Rank: 1010
Omega Ratio Rank
ZAG.TO Calmar Ratio Rank: 1515
Calmar Ratio Rank
ZAG.TO Martin Ratio Rank: 1414
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. ZAG.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 BMO Aggregate Bond Index ETF (ZAG.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.

ZTL.NEOZAG.TODifference

Sharpe ratio

Return per unit of total volatility

-0.36

0.01

-0.37

Sortino ratio

Return per unit of downside risk

-0.41

0.05

-0.46

Omega ratio

Gain probability vs. loss probability

0.95

1.01

-0.06

Calmar ratio

Return relative to maximum drawdown

-0.32

0.14

-0.46

Martin ratio

Return relative to average drawdown

-0.57

0.29

-0.86

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZTL.NEO vs. ZAG.TO - Sharpe Ratio Comparison

The current ZTL.NEO Sharpe Ratio is -0.36, which is lower than the ZAG.TO Sharpe Ratio of 0.01. The chart below compares the historical Sharpe Ratios of ZTL.NEO and ZAG.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

ZTL.NEOZAG.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.36

0.01

-0.37

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.25

0.08

-0.33

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.23

—

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.03

0.44

-0.47

Correlation

The correlation between ZTL.NEO and ZAG.TO is 0.66, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ZTL.NEO vs. ZAG.TO - Dividend Comparison

ZTL.NEO's dividend yield for the trailing twelve months is around 3.16%, less than ZAG.TO's 3.49% yield.

TTM20252024202320222021202020192018201720162015
ZTL.NEO
BMO Long-Term US Treasury Bond Index ETF		3.16%3.15%3.07%3.55%3.44%2.46%2.26%2.55%2.75%2.82%0.00%0.00%
ZAG.TO
BMO Aggregate Bond Index ETF		3.49%3.48%3.44%3.47%3.56%3.04%2.88%3.03%2.92%2.95%3.07%3.13%

Drawdowns

ZTL.NEO vs. ZAG.TO - Drawdown Comparison

The maximum ZTL.NEO drawdown since its inception was -49.55%, which is greater than ZAG.TO's maximum drawdown of -18.03%. Use the drawdown chart below to compare losses from any high point for ZTL.NEO and ZAG.TO.

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Drawdown Indicators

ZTL.NEOZAG.TODifference

Max Drawdown

Largest peak-to-trough decline

-49.55%

-18.03%

-31.52%

Max Drawdown (1Y)

Largest decline over 1 year

-11.95%

-2.79%

-9.16%

Max Drawdown (5Y)

Largest decline over 5 years

-39.89%

-15.77%

-24.12%

Max Drawdown (10Y)

Largest decline over 10 years

—

-18.03%

—

Current Drawdown

Current decline from peak

-40.87%

-2.85%

-38.02%

Average Drawdown

Average peak-to-trough decline

-23.41%

-3.56%

-19.85%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.75%

1.41%

+5.34%

Volatility

ZTL.NEO vs. ZAG.TO - Volatility Comparison

BMO Long-Term US Treasury Bond Index ETF (ZTL.NEO) has a higher volatility of 3.24% compared to BMO Aggregate Bond Index ETF (ZAG.TO) at 1.91%. This indicates that ZTL.NEO's price experiences larger fluctuations and is considered to be riskier than ZAG.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.NEOZAG.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.24%

1.91%

+1.33%

Volatility (6M)

Calculated over the trailing 6-month period

6.83%

2.97%

+3.86%

Volatility (1Y)

Calculated over the trailing 1-year period

11.99%

4.65%

+7.34%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.36%

6.53%

+9.83%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.93%

7.09%

+8.84%