ZUCM.TO vs. HISA.NEO
ZUCM.TO (BMO USD Cash Management ETF) and HISA.NEO (Evolve High Interest Savings Account ETF) are both Money Market funds. Both are actively managed. Over the past year, ZUCM.TO returned 5.72% vs 2.01% for HISA.NEO. At a correlation of -0.03, they often move in opposite directions. ZUCM.TO charges 0.14%/yr vs 0.15%/yr for HISA.NEO.
Performance
ZUCM.TO vs. HISA.NEO - 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 HISA.NEO's 0.60% return.
ZUCM.TO
- 1D
- 0.10%
- 1M
- 2.35%
- YTD
- 2.88%
- 6M
- 1.35%
- 1Y
- 5.72%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HISA.NEO
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.60%
- 6M
- 0.80%
- 1Y
- 2.01%
- 3Y*
- 3.11%
- 5Y*
- 2.77%
- 10Y*
- —
ZUCM.TO vs. HISA.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ZUCM.TO BMO USD Cash Management ETF | 2.88% | -0.61% | 14.39% | -1.38% |
HISA.NEO Evolve High Interest Savings Account ETF | 0.60% | 2.30% | 3.78% | 1.24% |
Correlation
The correlation between ZUCM.TO and HISA.NEO is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.14 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2023 | -0.03 |
The correlation between ZUCM.TO and HISA.NEO shifts across timeframes, from -0.14 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ZUCM.TO vs. HISA.NEO — Risk / Return Rank
ZUCM.TO
HISA.NEO
ZUCM.TO vs. HISA.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO USD Cash Management ETF (ZUCM.TO) and Evolve High Interest Savings Account ETF (HISA.NEO). 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 | HISA.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.57 | ||
| Sortino ratioReturn per unit of downside risk | -3.23 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 5.25 | -4.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 2.62 | -1.06 |
| Martin ratioReturn relative to average drawdown | 4.15 | 27.66 | -23.51 |
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 | HISA.NEO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.30 | 2.87 | -1.57 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 2.78 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.03 | 2.35 | -1.32 |
Drawdowns
ZUCM.TO vs. HISA.NEO - Drawdown Comparison
The maximum ZUCM.TO drawdown since its inception was -5.81%, which is greater than HISA.NEO's maximum drawdown of -0.42%. Use the drawdown chart below to compare losses from any high point for ZUCM.TO and HISA.NEO.
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Drawdown Indicators
| ZUCM.TO | HISA.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.81% | -0.42% | -5.39% |
Max Drawdown (1Y)Largest decline over 1 year | -3.69% | -0.18% | -3.51% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.42% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.42% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.02% | +0.02% |
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. HISA.NEO - Volatility Comparison
BMO USD Cash Management ETF (ZUCM.TO) has a higher volatility of 0.75% compared to Evolve High Interest Savings Account ETF (HISA.NEO) at 0.03%. This indicates that ZUCM.TO's price experiences larger fluctuations and is considered to be riskier than HISA.NEO 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 | HISA.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.75% | 0.03% | +0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 3.23% | 0.08% | +3.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.43% | 0.36% | +4.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.34% | 0.46% | +4.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.34% | 0.47% | +4.87% |
ZUCM.TO vs. HISA.NEO - Expense Ratio Comparison
ZUCM.TO has a 0.14% expense ratio, which is lower than HISA.NEO's 0.15% 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%.
Dividends
ZUCM.TO vs. HISA.NEO - Dividend Comparison
ZUCM.TO's dividend yield for the trailing twelve months is around 3.81%, more than HISA.NEO's 2.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
HISA.NEO Evolve High Interest Savings Account ETF | 2.27% | 2.32% | 3.65% | 4.60% | 2.22% | 0.52% | 0.84% | 0.76% |
ZUCM.TO BMO USD Cash Management ETF | 3.81% | 4.19% | 4.88% | 1.40% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZUCM.TO and HISA.NEO have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZUCM.TO is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZUCM.TO is cheaper with a 0.14% expense ratio, compared with 0.15% for HISA.NEO.
They also come from different issuers: BMO and Evolve. Their fees differ too: 0.14% for ZUCM.TO and 0.15% for HISA.NEO.
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