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ZUE.TO vs. VFV.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ZUE.TO vs. VFV.TO

Last updated Apr 1, 2026

Compare and contrast key facts about BMO S&P 500 (CAD Hedged) (ZUE.TO) and Vanguard S&P 500 Index ETF (VFV.TO).

ZUE.TO and VFV.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZUE.TO is a passively managed fund by BMO that tracks the performance of the S&P 500 Index. It was launched on May 29, 2009. VFV.TO is a passively managed fund by Vanguard that tracks the performance of the S&P 500 Index. It was launched on Nov 2, 2012. Both ZUE.TO and VFV.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ZUE.TO vs. VFV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO S&P 500 (CAD Hedged) (ZUE.TO) and Vanguard S&P 500 Index ETF (VFV.TO). The values are adjusted to include any dividend payments, if applicable.

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ZUE.TO vs. VFV.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ZUE.TO
BMO S&P 500 (CAD Hedged)		-4.96%15.57%23.40%24.35%-19.43%27.86%15.42%29.70%-6.88%21.02%
VFV.TO
Vanguard S&P 500 Index ETF		-3.12%12.18%35.23%23.23%-12.58%27.51%15.62%25.14%2.94%13.67%

Returns By Period

In the year-to-date period, ZUE.TO achieves a -4.96% return, which is significantly lower than VFV.TO's -3.12% return. Over the past 10 years, ZUE.TO has underperformed VFV.TO with an annualized return of 12.34%, while VFV.TO has yielded a comparatively higher 14.47% annualized return.

ZUE.TO

1D
3.00%
1M
-5.24%
YTD
-4.96%
6M
-2.91%
1Y
15.40%
3Y*
16.29%
5Y*
10.14%
10Y*
12.34%

VFV.TO

1D
2.76%
1M
-3.12%
YTD
-3.12%
6M
-1.94%
1Y
13.65%
3Y*
19.11%
5Y*
13.78%
10Y*
14.47%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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BMO S&P 500 (CAD Hedged)

Vanguard S&P 500 Index ETF

Often compared with ZUE.TO:
ZUE.TO vs. ZSP.TOZUE.TO vs. VSP.TOZUE.TO vs. XEQT.TOZUE.TO vs. VCN.TOZUE.TO vs. TEC.TOZUE.TO vs. HXS.TOZUE.TO vs. VOO
Often compared with VFV.TO:
VFV.TO vs. XEQT.TOVFV.TO vs. VEQT.TOVFV.TO vs. VOOVFV.TO vs. VSP.TOVFV.TO vs. QQC.TOVFV.TO vs. VCN.TOVFV.TO vs. XQQ.TO

ZUE.TO vs. VFV.TO - Expense Ratio Comparison

Both ZUE.TO and VFV.TO have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

ZUE.TO
BMO S&P 500 (CAD Hedged)
VFV.TO
Vanguard S&P 500 Index ETF

Return for Risk

ZUE.TO vs. VFV.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZUE.TO
ZUE.TO Risk / Return Rank: 5353
Overall Rank
ZUE.TO Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
ZUE.TO Sortino Ratio Rank: 5050
Sortino Ratio Rank
ZUE.TO Omega Ratio Rank: 5454
Omega Ratio Rank
ZUE.TO Calmar Ratio Rank: 5353
Calmar Ratio Rank
ZUE.TO Martin Ratio Rank: 6363
Martin Ratio Rank
VFV.TO
VFV.TO Risk / Return Rank: 4848
Overall Rank
VFV.TO Sharpe Ratio Rank: 4545
Sharpe Ratio Rank
VFV.TO Sortino Ratio Rank: 4444
Sortino Ratio Rank
VFV.TO Omega Ratio Rank: 5050
Omega Ratio Rank
VFV.TO Calmar Ratio Rank: 5252
Calmar Ratio Rank
VFV.TO Martin Ratio Rank: 5151
Martin Ratio Rank
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.

ZUE.TO vs. VFV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO S&P 500 (CAD Hedged) (ZUE.TO) and Vanguard S&P 500 Index ETF (VFV.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.

ZUE.TOVFV.TODifference

Sharpe ratio

Return per unit of total volatility

0.86

0.75

+0.10

Sortino ratio

Return per unit of downside risk

1.32

1.13

+0.19

Omega ratio

Gain probability vs. loss probability

1.20

1.18

+0.02

Calmar ratio

Return relative to maximum drawdown

1.34

1.19

+0.15

Martin ratio

Return relative to average drawdown

6.15

4.51

+1.64

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZUE.TO vs. VFV.TO - Sharpe Ratio Comparison

The current ZUE.TO Sharpe Ratio is 0.86, which is comparable to the VFV.TO Sharpe Ratio of 0.75. The chart below compares the historical Sharpe Ratios of ZUE.TO and VFV.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.

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Sharpe Ratios by Period

ZUE.TOVFV.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.86

0.75

+0.10

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.61

0.93

-0.32

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.68

0.88

-0.19

Sharpe Ratio (All Time)

Calculated using the full available price history

0.77

1.07

-0.30

Correlation

The correlation between ZUE.TO and VFV.TO is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

ZUE.TO vs. VFV.TO - Dividend Comparison

ZUE.TO's dividend yield for the trailing twelve months is around 0.92%, less than VFV.TO's 0.96% yield.

TTM20252024202320222021202020192018201720162015
ZUE.TO
BMO S&P 500 (CAD Hedged)		0.92%0.86%1.02%1.33%1.50%1.13%1.37%1.47%1.76%1.61%1.67%1.72%
VFV.TO
Vanguard S&P 500 Index ETF		0.96%0.92%0.99%1.20%1.31%1.06%1.33%1.55%1.68%1.50%1.66%1.63%

Drawdowns

ZUE.TO vs. VFV.TO - Drawdown Comparison

The maximum ZUE.TO drawdown since its inception was -35.56%, which is greater than VFV.TO's maximum drawdown of -27.43%. Use the drawdown chart below to compare losses from any high point for ZUE.TO and VFV.TO.

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Drawdown Indicators

ZUE.TOVFV.TODifference

Max Drawdown

Largest peak-to-trough decline

-35.56%

-27.43%

-8.13%

Max Drawdown (1Y)

Largest decline over 1 year

-11.95%

-12.52%

+0.57%

Max Drawdown (5Y)

Largest decline over 5 years

-25.34%

-22.19%

-3.15%

Max Drawdown (10Y)

Largest decline over 10 years

-35.56%

-27.43%

-8.13%

Current Drawdown

Current decline from peak

-6.72%

-6.10%

-0.62%

Average Drawdown

Average peak-to-trough decline

-4.12%

-3.39%

-0.73%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.60%

3.29%

-0.69%

Volatility

ZUE.TO vs. VFV.TO - Volatility Comparison

BMO S&P 500 (CAD Hedged) (ZUE.TO) has a higher volatility of 5.44% compared to Vanguard S&P 500 Index ETF (VFV.TO) at 5.12%. This indicates that ZUE.TO's price experiences larger fluctuations and is considered to be riskier than VFV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZUE.TOVFV.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.44%

5.12%

+0.32%

Volatility (6M)

Calculated over the trailing 6-month period

9.50%

9.27%

+0.23%

Volatility (1Y)

Calculated over the trailing 1-year period

18.08%

18.28%

-0.20%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.86%

14.92%

+1.94%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.12%

16.57%

+1.55%