ZUE.TO vs. ZLB.TO
Compare and contrast key facts about BMO S&P 500 (CAD Hedged) (ZUE.TO) and BMO Low Volatility Canadian Equity ETF (ZLB.TO).
ZUE.TO and ZLB.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. ZLB.TO is an actively managed fund by BMO. It was launched on Oct 21, 2011.
Performance
ZUE.TO vs. ZLB.TO - Performance Comparison
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ZUE.TO vs. ZLB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
ZLB.TO BMO Low Volatility Canadian Equity ETF | 1.42% | 20.31% | 15.20% | 9.29% | -0.46% | 22.81% | 1.39% | 21.80% | -2.87% | 10.96% |
Returns By Period
In the year-to-date period, ZUE.TO achieves a -4.96% return, which is significantly lower than ZLB.TO's 1.42% return. Over the past 10 years, ZUE.TO has outperformed ZLB.TO with an annualized return of 12.34%, while ZLB.TO has yielded a comparatively lower 10.13% 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%
ZLB.TO
- 1D
- 1.23%
- 1M
- -2.74%
- YTD
- 1.42%
- 6M
- 2.74%
- 1Y
- 15.44%
- 3Y*
- 12.86%
- 5Y*
- 11.57%
- 10Y*
- 10.13%
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ZUE.TO vs. ZLB.TO - Expense Ratio Comparison
ZUE.TO has a 0.09% expense ratio, which is lower than ZLB.TO's 0.39% expense ratio.
Return for Risk
ZUE.TO vs. ZLB.TO — Risk / Return Rank
ZUE.TO
ZLB.TO
ZUE.TO vs. ZLB.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 BMO Low Volatility Canadian Equity ETF (ZLB.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.TO | ZLB.TO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.86 | 1.48 | -0.63 |
Sortino ratioReturn per unit of downside risk | 1.32 | 1.99 | -0.67 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.30 | -0.10 |
Calmar ratioReturn relative to maximum drawdown | 1.34 | 2.57 | -1.23 |
Martin ratioReturn relative to average drawdown | 6.15 | 8.71 | -2.56 |
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
| ZUE.TO | ZLB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.86 | 1.48 | -0.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.61 | 1.22 | -0.61 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | 0.84 | -0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 1.12 | -0.35 |
Correlation
The correlation between ZUE.TO and ZLB.TO is 0.57, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
ZUE.TO vs. ZLB.TO - Dividend Comparison
ZUE.TO's dividend yield for the trailing twelve months is around 0.92%, less than ZLB.TO's 1.92% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ZLB.TO BMO Low Volatility Canadian Equity ETF | 1.92% | 1.93% | 2.28% | 2.56% | 2.56% | 2.29% | 2.72% | 2.34% | 2.65% | 2.42% | 2.82% | 2.25% |
Drawdowns
ZUE.TO vs. ZLB.TO - Drawdown Comparison
The maximum ZUE.TO drawdown since its inception was -35.56%, roughly equal to the maximum ZLB.TO drawdown of -33.96%. Use the drawdown chart below to compare losses from any high point for ZUE.TO and ZLB.TO.
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Drawdown Indicators
| ZUE.TO | ZLB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.56% | -33.96% | -1.60% |
Max Drawdown (1Y)Largest decline over 1 year | -11.95% | -6.53% | -5.42% |
Max Drawdown (5Y)Largest decline over 5 years | -25.34% | -13.04% | -12.30% |
Max Drawdown (10Y)Largest decline over 10 years | -35.56% | -33.96% | -1.60% |
Current DrawdownCurrent decline from peak | -6.72% | -3.08% | -3.64% |
Average DrawdownAverage peak-to-trough decline | -4.12% | -2.51% | -1.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.60% | 1.93% | +0.67% |
Volatility
ZUE.TO vs. ZLB.TO - Volatility Comparison
BMO S&P 500 (CAD Hedged) (ZUE.TO) has a higher volatility of 5.44% compared to BMO Low Volatility Canadian Equity ETF (ZLB.TO) at 3.64%. This indicates that ZUE.TO's price experiences larger fluctuations and is considered to be riskier than ZLB.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.TO | ZLB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.44% | 3.64% | +1.80% |
Volatility (6M)Calculated over the trailing 6-month period | 9.50% | 7.64% | +1.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.08% | 10.52% | +7.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.86% | 9.57% | +7.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.12% | 12.19% | +5.93% |