ZUB.TO vs. XUSF.TO
ZUB.TO (BMO Equal Weight US Banks Hedged to CAD Index ETF) and XUSF.TO (iShares S&P U.S. Financials Index ETF) are both Financials Equities funds. Over the past year, ZUB.TO returned 26.03% vs 7.71% for XUSF.TO. At a 0.50 correlation, their price movements are largely independent.
Performance
ZUB.TO vs. XUSF.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZUB.TO achieves a 9.98% return, which is significantly higher than XUSF.TO's 1.19% return.
ZUB.TO
- 1D
- -0.56%
- 1M
- 7.85%
- YTD
- 9.98%
- 6M
- 9.11%
- 1Y
- 26.03%
- 3Y*
- 28.94%
- 5Y*
- 6.82%
- 10Y*
- 11.27%
XUSF.TO
- 1D
- -0.01%
- 1M
- 7.21%
- YTD
- 1.19%
- 6M
- 1.19%
- 1Y
- 7.71%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZUB.TO vs. XUSF.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ZUB.TO BMO Equal Weight US Banks Hedged to CAD Index ETF | 9.98% | 20.24% | 33.07% | 18.61% |
XUSF.TO iShares S&P U.S. Financials Index ETF | 1.19% | 9.67% | 39.77% | 8.23% |
Correlation
The correlation between ZUB.TO and XUSF.TO is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Sep 6, 2023 | 0.50 |
The correlation between ZUB.TO and XUSF.TO has been stable across timeframes, ranging from 0.50 to 0.58 - a consistent structural relationship.
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Return for Risk
ZUB.TO vs. XUSF.TO — Risk / Return Rank
ZUB.TO
XUSF.TO
ZUB.TO vs. XUSF.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Equal Weight US Banks Hedged to CAD Index ETF (ZUB.TO) and iShares S&P U.S. Financials Index ETF (XUSF.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.
| ZUB.TO | XUSF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.74 | ||
| Sortino ratioReturn per unit of downside risk | +1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.12 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.53 | 0.53 | +1.00 |
| Martin ratioReturn relative to average drawdown | 4.15 | 1.26 | +2.89 |
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Drawdowns
ZUB.TO vs. XUSF.TO - Drawdown Comparison
The maximum ZUB.TO drawdown since its inception was -55.05%, which is greater than XUSF.TO's maximum drawdown of -16.88%. Use the drawdown chart below to compare losses from any high point for ZUB.TO and XUSF.TO.
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Drawdown Indicators
| ZUB.TO | XUSF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.05% | -16.88% | -38.17% |
Max Drawdown (1Y)Largest decline over 1 year | -17.10% | -14.66% | -2.44% |
Max Drawdown (3Y)Largest decline over 3 years | -27.33% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -52.97% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -55.05% | — | — |
Current DrawdownCurrent decline from peak | -0.87% | -1.87% | +1.00% |
Average DrawdownAverage peak-to-trough decline | -14.13% | -3.49% | -10.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.29% | 6.15% | +0.14% |
Volatility
ZUB.TO vs. XUSF.TO - Volatility Comparison
BMO Equal Weight US Banks Hedged to CAD Index ETF (ZUB.TO) has a higher volatility of 4.73% compared to iShares S&P U.S. Financials Index ETF (XUSF.TO) at 3.73%. This indicates that ZUB.TO's price experiences larger fluctuations and is considered to be riskier than XUSF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZUB.TO | XUSF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.73% | 3.73% | +1.00% |
Volatility (6M)Calculated over the trailing 6-month period | 15.24% | 11.67% | +3.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.79% | 14.94% | +5.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.92% | 17.78% | +10.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.16% | 17.78% | +12.38% |
Dividends
ZUB.TO vs. XUSF.TO - Dividend Comparison
ZUB.TO's dividend yield for the trailing twelve months is around 1.78%, more than XUSF.TO's 0.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XUSF.TO iShares S&P U.S. Financials Index ETF | 0.88% | 0.75% | 0.81% | 0.34% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZUB.TO BMO Equal Weight US Banks Hedged to CAD Index ETF | 1.78% | 1.96% | 2.29% | 2.91% | 2.50% | 1.88% | 2.57% | 2.13% | 1.92% | 1.15% | 1.34% | 1.42% |
Frequently Asked Questions
ZUB.TO and XUSF.TO have a correlation of 0.58, 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 iShares.
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