ZUAG.TO vs. XEQT.TO

Last updated Apr 2, 2026

Compare and contrast key facts about BMO US Aggregate Bond Index ETF (ZUAG.TO) and iShares Core Equity ETF Portfolio (XEQT.TO).

ZUAG.TO and XEQT.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZUAG.TO is a passively managed fund by BMO that tracks the performance of the Bloomberg US Aggregate Bond Index. It was launched on Jan 23, 2023. XEQT.TO is an actively managed fund by iShares. It was launched on Aug 7, 2019.

Performance

ZUAG.TO vs. XEQT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO US Aggregate Bond Index ETF (ZUAG.TO) and iShares Core Equity ETF Portfolio (XEQT.TO). The values are adjusted to include any dividend payments, if applicable.

ZUAG.TO vs. XEQT.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ZUAG.TO BMO US Aggregate Bond Index ETF	1.54%	-0.80%	9.45%	110.96%
XEQT.TO iShares Core Equity ETF Portfolio	1.51%	19.47%	24.36%	11.12%

Returns By Period

The year-to-date returns for both stocks are quite close, with ZUAG.TO having a 1.54% return and XEQT.TO slightly lower at 1.51%.

ZUAG.TO

• 1D: 0.31%
• 1M: 0.44%
• YTD: 1.54%
• 6M: -1.97%
• 1Y: -1.88%
• 3Y*: 3.49%
• 5Y*: —
• 10Y*: —

XEQT.TO

• 1D: 0.85%
• 1M: -3.50%
• YTD: 1.51%
• 6M: 2.89%
• 1Y: 21.17%
• 3Y*: 18.44%
• 5Y*: 11.98%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ZUAG.TO vs. XEQT.TO - Expense Ratio Comparison

ZUAG.TO has a 0.09% expense ratio, which is lower than XEQT.TO's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

XEQT.TO

iShares Core Equity ETF Portfolio

ZUAG.TO

BMO US Aggregate Bond Index ETF

Return for Risk

ZUAG.TO vs. XEQT.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ZUAG.TO

ZUAG.TO Risk / Return Rank: 8
ZUAG.TO Sharpe Ratio Rank: 8
ZUAG.TO Sortino Ratio Rank: 7
ZUAG.TO Omega Ratio Rank: 6
ZUAG.TO Calmar Ratio Rank: 8
ZUAG.TO Martin Ratio Rank: 9

XEQT.TO

XEQT.TO Risk / Return Rank: 72
XEQT.TO Sharpe Ratio Rank: 72
XEQT.TO Sortino Ratio Rank: 71
XEQT.TO Omega Ratio Rank: 74
XEQT.TO Calmar Ratio Rank: 68
XEQT.TO Martin Ratio Rank: 73

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.

ZUAG.TO vs. XEQT.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 iShares Core Equity ETF Portfolio (XEQT.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.

	ZUAG.TO	XEQT.TO	Difference
Sharpe ratio Return per unit of total volatility	-0.23	1.33	-1.56
Sortino ratio Return per unit of downside risk	-0.25	1.85	-2.10
Omega ratio Gain probability vs. loss probability	0.96	1.29	-0.32
Calmar ratio Return relative to maximum drawdown	-0.20	1.79	-1.99
Martin ratio Return relative to average drawdown	-0.35	7.98	-8.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZUAG.TO vs. XEQT.TO - Sharpe Ratio Comparison

The current ZUAG.TO Sharpe Ratio is -0.23, which is lower than the XEQT.TO Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of ZUAG.TO and XEQT.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.

Sharpe Ratios by Period

	ZUAG.TO	XEQT.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.23	1.33	-1.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.93	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.86	-0.36

Correlation

The correlation between ZUAG.TO and XEQT.TO is 0.02, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ZUAG.TO vs. XEQT.TO - Dividend Comparison

ZUAG.TO's dividend yield for the trailing twelve months is around 2.59%, more than XEQT.TO's 1.64% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
ZUAG.TO BMO US Aggregate Bond Index ETF	2.59%	2.51%	2.09%	1.89%	0.00%	0.00%	0.00%	0.00%
XEQT.TO iShares Core Equity ETF Portfolio	1.64%	1.66%	2.01%	2.07%	2.12%	1.64%	1.66%	1.19%

Drawdowns

ZUAG.TO vs. XEQT.TO - Drawdown Comparison

The maximum ZUAG.TO drawdown since its inception was -7.19%, smaller than the maximum XEQT.TO drawdown of -29.74%. Use the drawdown chart below to compare losses from any high point for ZUAG.TO and XEQT.TO.

Drawdown Indicators

	ZUAG.TO	XEQT.TO	Difference
Max Drawdown Largest peak-to-trough decline	-7.19%	-29.74%	+22.55%
Max Drawdown (1Y) Largest decline over 1 year	-6.92%	-11.78%	+4.86%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.56%	—
Current Drawdown Current decline from peak	-4.71%	-4.27%	-0.44%
Average Drawdown Average peak-to-trough decline	-2.80%	-4.20%	+1.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.99%	2.64%	+1.35%

Volatility

ZUAG.TO vs. XEQT.TO - Volatility Comparison

The current volatility for BMO US Aggregate Bond Index ETF (ZUAG.TO) is 1.99%, while iShares Core Equity ETF Portfolio (XEQT.TO) has a volatility of 5.77%. This indicates that ZUAG.TO experiences smaller price fluctuations and is considered to be less risky than XEQT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZUAG.TO	XEQT.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.99%	5.77%	-3.78%
Volatility (6M) Calculated over the trailing 6-month period	5.74%	9.49%	-3.75%
Volatility (1Y) Calculated over the trailing 1-year period	8.09%	15.99%	-7.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	61.00%	13.03%	+47.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.00%	15.63%	+45.37%