ZUCM.TO vs. CMR.TO
ZUCM.TO (BMO USD Cash Management ETF) and CMR.TO (iShares Premium Money Market ETF) are both Money Market funds. Both are actively managed. Over the past year, ZUCM.TO returned 5.72% vs 2.39% for CMR.TO. At a 0.08 correlation, their price movements are largely independent. Both charge a 0.14% expense ratio.
Performance
ZUCM.TO vs. CMR.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZUCM.TO achieves a 2.88% return, which is significantly higher than CMR.TO's 0.99% return.
ZUCM.TO
- 1D
- 0.10%
- 1M
- 2.35%
- YTD
- 2.88%
- 6M
- 1.35%
- 1Y
- 5.72%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CMR.TO
- 1D
- 0.02%
- 1M
- 0.19%
- YTD
- 0.99%
- 6M
- 1.05%
- 1Y
- 2.39%
- 3Y*
- 3.73%
- 5Y*
- 2.94%
- 10Y*
- 1.89%
ZUCM.TO vs. CMR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ZUCM.TO BMO USD Cash Management ETF | 2.88% | -0.61% | 14.39% | -1.38% |
CMR.TO iShares Premium Money Market ETF | 0.99% | 2.68% | 4.70% | 1.24% |
Correlation
The correlation between ZUCM.TO and CMR.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 (All Time) Calculated using the full available price history since Oct 3, 2023 | 0.08 |
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Return for Risk
ZUCM.TO vs. CMR.TO — Risk / Return Rank
ZUCM.TO
CMR.TO
ZUCM.TO vs. CMR.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO USD Cash Management ETF (ZUCM.TO) and iShares Premium Money Market ETF (CMR.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.
| ZUCM.TO | CMR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.39 | ||
| Sortino ratioReturn per unit of downside risk | -19.51 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 9.64 | -8.40 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 25.66 | -24.10 |
| Martin ratioReturn relative to average drawdown | 4.15 | 188.94 | -184.79 |
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
| ZUCM.TO | CMR.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.30 | 10.70 | -9.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 10.68 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 7.03 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.03 | 3.84 | -2.81 |
Drawdowns
ZUCM.TO vs. CMR.TO - Drawdown Comparison
The maximum ZUCM.TO drawdown since its inception was -5.81%, which is greater than CMR.TO's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for ZUCM.TO and CMR.TO.
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Drawdown Indicators
| ZUCM.TO | CMR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.81% | -0.52% | -5.29% |
Max Drawdown (1Y)Largest decline over 1 year | -3.69% | -0.09% | -3.60% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.09% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.09% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.14% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -1.72% | -0.01% | -1.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.38% | 0.01% | +1.37% |
Volatility
ZUCM.TO vs. CMR.TO - Volatility Comparison
BMO USD Cash Management ETF (ZUCM.TO) has a higher volatility of 0.75% compared to iShares Premium Money Market ETF (CMR.TO) at 0.05%. This indicates that ZUCM.TO's price experiences larger fluctuations and is considered to be riskier than CMR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZUCM.TO | CMR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.75% | 0.05% | +0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 3.23% | 0.18% | +3.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.43% | 0.22% | +4.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.34% | 0.28% | +5.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.34% | 0.27% | +5.07% |
ZUCM.TO vs. CMR.TO - Expense Ratio Comparison
Both ZUCM.TO and CMR.TO have an expense ratio of 0.14%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
ZUCM.TO vs. CMR.TO - Dividend Comparison
ZUCM.TO's dividend yield for the trailing twelve months is around 3.81%, more than CMR.TO's 2.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMR.TO iShares Premium Money Market ETF | 2.48% | 2.81% | 4.56% | 4.64% | 1.62% | 0.00% | 0.47% | 1.60% | 1.33% | 0.61% | 0.43% | 0.48% |
ZUCM.TO BMO USD Cash Management ETF | 3.81% | 4.19% | 4.88% | 1.40% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZUCM.TO and CMR.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.
Both ETFs have the same 0.14% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
ZUCM.TO and CMR.TO have the same expense ratio: 0.14% per year.
They also come from different issuers: BMO and iShares.
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