ZUAG.TO vs. BND.TO
ZUAG.TO (BMO US Aggregate Bond Index ETF) and BND.TO (Purpose Global Bond Fund) are both Global Bonds funds. ZUAG.TO is passively managed, while BND.TO is actively managed. Over the past 3 years, ZUAG.TO returned 4.76%/yr vs 7.48%/yr for BND.TO. At a 0.23 correlation, their price movements are largely independent.
Performance
ZUAG.TO vs. BND.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZUAG.TO achieves a 4.88% return, which is significantly higher than BND.TO's 1.55% return.
ZUAG.TO
- 1D
- 1.16%
- 1M
- 4.45%
- YTD
- 4.88%
- 6M
- -0.97%
- 1Y
- 2.38%
- 3Y*
- 4.76%
- 5Y*
- —
- 10Y*
- —
BND.TO
- 1D
- 0.00%
- 1M
- 0.66%
- YTD
- 1.55%
- 6M
- 1.70%
- 1Y
- 5.66%
- 3Y*
- 7.48%
- 5Y*
- 3.21%
- 10Y*
- 3.04%
ZUAG.TO vs. BND.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ZUAG.TO BMO US Aggregate Bond Index ETF | 4.88% | -3.77% | 9.45% | 1.15% |
BND.TO Purpose Global Bond Fund | 1.55% | 7.26% | 7.49% | 4.29% |
Correlation
The correlation between ZUAG.TO and BND.TO is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Feb 6, 2023 | 0.23 |
The correlation between ZUAG.TO and BND.TO shifts across timeframes, from 0.09 (1 year) to 0.23 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
ZUAG.TO vs. BND.TO — Risk / Return Rank
ZUAG.TO
BND.TO
ZUAG.TO vs. BND.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO US Aggregate Bond Index ETF (ZUAG.TO) and Purpose Global Bond Fund (BND.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.
| ZUAG.TO | BND.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.55 | ||
| Sortino ratioReturn per unit of downside risk | -2.28 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.35 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.25 | 1.98 | -1.74 |
| Martin ratioReturn relative to average drawdown | 0.40 | 8.16 | -7.76 |
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Drawdowns
ZUAG.TO vs. BND.TO - Drawdown Comparison
The maximum ZUAG.TO drawdown since its inception was -9.71%, smaller than the maximum BND.TO drawdown of -16.55%. Use the drawdown chart below to compare losses from any high point for ZUAG.TO and BND.TO.
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Drawdown Indicators
| ZUAG.TO | BND.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.71% | -16.55% | +6.84% |
Max Drawdown (1Y)Largest decline over 1 year | -9.71% | -2.87% | -6.84% |
Max Drawdown (3Y)Largest decline over 3 years | -9.71% | -4.46% | -5.25% |
Max Drawdown (5Y)Largest decline over 5 years | — | -12.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.55% | — |
Current DrawdownCurrent decline from peak | -4.53% | -0.11% | -4.42% |
Average DrawdownAverage peak-to-trough decline | -3.38% | -2.10% | -1.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.95% | 0.70% | +5.25% |
Volatility
ZUAG.TO vs. BND.TO - Volatility Comparison
BMO US Aggregate Bond Index ETF (ZUAG.TO) has a higher volatility of 1.64% compared to Purpose Global Bond Fund (BND.TO) at 1.20%. This indicates that ZUAG.TO's price experiences larger fluctuations and is considered to be riskier than BND.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZUAG.TO | BND.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.64% | 1.20% | +0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 7.45% | 2.72% | +4.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.91% | 3.13% | +5.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.28% | 5.10% | +3.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.28% | 5.15% | +3.13% |
Dividends
ZUAG.TO vs. BND.TO - Dividend Comparison
ZUAG.TO's dividend yield for the trailing twelve months is around 2.63%, less than BND.TO's 5.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BND.TO Purpose Global Bond Fund | 5.82% | 5.70% | 5.24% | 5.20% | 4.14% | 3.67% | 3.48% | 3.11% | 3.96% | 3.47% | 3.26% | 0.53% |
ZUAG.TO BMO US Aggregate Bond Index ETF | 2.63% | 2.58% | 2.09% | 1.89% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZUAG.TO and BND.TO have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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