ZTL.NEO vs. ZDV.TO
ZTL.NEO (BMO Long-Term US Treasury Bond Index ETF) and ZDV.TO (BMO Canadian Dividend ETF) are both exchange-traded funds - ZTL.NEO is a Government Bonds fund tracking the Bloomberg U.S. Treasury 20+ Year Index, while ZDV.TO is a Canada Equities fund actively managed by BMO. ZTL.NEO is passively managed, while ZDV.TO is actively managed. Over the past 5 years, ZTL.NEO returned -3.62%/yr vs 14.00%/yr for ZDV.TO. At a correlation of -0.16, they often move in opposite directions. ZTL.NEO charges 0.23%/yr vs 0.39%/yr for ZDV.TO.
Performance
ZTL.NEO vs. ZDV.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZTL.NEO achieves a 1.22% return, which is significantly lower than ZDV.TO's 19.98% return.
ZTL.NEO
- 1D
- 0.30%
- 1M
- 2.55%
- YTD
- 1.22%
- 6M
- -1.53%
- 1Y
- 5.33%
- 3Y*
- -0.54%
- 5Y*
- -3.62%
- 10Y*
- —
ZDV.TO
- 1D
- 1.20%
- 1M
- 5.35%
- YTD
- 19.98%
- 6M
- 13.61%
- 1Y
- 33.16%
- 3Y*
- 21.12%
- 5Y*
- 14.00%
- 10Y*
- 11.00%
ZTL.NEO vs. ZDV.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
ZDV.TO BMO Canadian Dividend ETF | 19.98% | 20.17% | 16.52% | 7.83% | -1.93% | 28.40% | -3.84% | 22.34% | -10.95% | 4.49% |
Correlation
The correlation between ZTL.NEO and ZDV.TO is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2017 | -0.16 |
The correlation between ZTL.NEO and ZDV.TO shifts across timeframes, from -0.16 (all time) to 0.08 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
ZTL.NEO vs. ZDV.TO — Risk / Return Rank
ZTL.NEO
ZDV.TO
ZTL.NEO vs. ZDV.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 Canadian Dividend ETF (ZDV.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.NEO | ZDV.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.58 | ||
| Sortino ratioReturn per unit of downside risk | -2.72 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.70 | -0.60 |
| Calmar ratioReturn relative to maximum drawdown | 0.59 | 5.01 | -4.41 |
| Martin ratioReturn relative to average drawdown | 1.31 | 19.47 | -18.16 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ZTL.NEO | ZDV.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.56 | 3.14 | -2.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.22 | 1.29 | -1.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.73 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.03 | 0.69 | -0.71 |
Drawdowns
ZTL.NEO vs. ZDV.TO - Drawdown Comparison
The maximum ZTL.NEO drawdown since its inception was -49.55%, which is greater than ZDV.TO's maximum drawdown of -43.21%. Use the drawdown chart below to compare losses from any high point for ZTL.NEO and ZDV.TO.
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Drawdown Indicators
| ZTL.NEO | ZDV.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.55% | -43.21% | -6.34% |
Max Drawdown (1Y)Largest decline over 1 year | -9.01% | -6.65% | -2.36% |
Max Drawdown (3Y)Largest decline over 3 years | -16.37% | -9.04% | -7.33% |
Max Drawdown (5Y)Largest decline over 5 years | -39.89% | -16.72% | -23.17% |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.21% | — |
Current DrawdownCurrent decline from peak | -40.87% | 0.00% | -40.87% |
Average DrawdownAverage peak-to-trough decline | -23.76% | -5.12% | -18.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.07% | 1.71% | +2.36% |
Volatility
ZTL.NEO vs. ZDV.TO - Volatility Comparison
BMO Long-Term US Treasury Bond Index ETF (ZTL.NEO) and BMO Canadian Dividend ETF (ZDV.TO) have volatilities of 2.78% and 2.67%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZTL.NEO | ZDV.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.78% | 2.67% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 6.72% | 9.75% | -3.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.71% | 10.63% | -0.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.28% | 10.95% | +5.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.82% | 15.11% | +0.71% |
ZTL.NEO vs. ZDV.TO - Expense Ratio Comparison
ZTL.NEO has a 0.23% expense ratio, which is lower than ZDV.TO's 0.39% expense ratio.
Dividends
ZTL.NEO vs. ZDV.TO - Dividend Comparison
ZTL.NEO's dividend yield for the trailing twelve months is around 3.16%, more than ZDV.TO's 2.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ZDV.TO BMO Canadian Dividend ETF | 2.65% | 3.07% | 3.57% | 4.10% | 4.10% | 3.63% | 4.48% | 4.11% | 5.06% | 3.96% | 3.84% | 4.63% |
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% |
Frequently Asked Questions
ZTL.NEO and ZDV.TO have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZTL.NEO is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZTL.NEO is cheaper with a 0.23% expense ratio, compared with 0.39% for ZDV.TO.
ZTL.NEO is categorized as Government Bonds, while ZDV.TO is Canada Equities. Their fees differ too: 0.23% for ZTL.NEO and 0.39% for ZDV.TO.
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