ZUQ.TO vs. ESGY.TO

Last updated Jul 18, 2026

ZUQ.TO (BMO MSCI USA High Quality Index ETF) and ESGY.TO (BMO MSCI USA Selection Equity Index ETF) are both Large Cap Blend Equities funds from BMO. Over the past 5 years, ZUQ.TO returned 13.65%/yr vs 15.28%/yr for ESGY.TO. A 0.65 correlation means they provide meaningful diversification when combined.

Performance

ZUQ.TO vs. ESGY.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO MSCI USA High Quality Index ETF (ZUQ.TO) and BMO MSCI USA Selection Equity Index ETF (ESGY.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with ZUQ.TO having a 11.73% return and ESGY.TO slightly higher at 11.92%.

ZUQ.TO

• 1D: -1.61%
• 1M: 0.85%
• 6M: 8.55%
• YTD: 11.73%
• 1Y: 17.38%
• 3Y*: 19.58%
• 5Y*: 13.65%
• 10Y*: 16.26%

ESGY.TO

• 1D: -0.25%
• 1M: 0.99%
• 6M: 8.99%
• YTD: 11.92%
• 1Y: 23.62%
• 3Y*: 22.30%
• 5Y*: 15.28%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ZUQ.TO vs. ESGY.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ZUQ.TO BMO MSCI USA High Quality Index ETF	11.73%	5.80%	34.06%	33.29%	-18.30%	26.45%	14.55%
ESGY.TO BMO MSCI USA Selection Equity Index ETF	11.92%	13.67%	33.83%	26.54%	-15.46%	30.67%	11.27%

Correlation

The correlation between ZUQ.TO and ESGY.TO is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (All Time) Calculated using the full available price history since Jan 21, 2020	0.65

The correlation between ZUQ.TO and ESGY.TO shifts across timeframes, from 0.65 (all time) to 0.79 (3 years), reflecting how their relationship changes across market environments.

ZUQ.TO vs. ESGY.TO - Sectors Allocation Comparison

Sectors	ZUQ.TO	ESGY.TO
Technology	35.9%	39.6%
Healthcare	15.3%	9.7%
Communication Services	14.0%	13.7%
Industrials	10.4%	7.7%
Consumer Defensive	10.3%	4.0%
Financial Services	9.8%	10.0%
Consumer Cyclical	2.6%	8.5%
Basic Materials	1.5%	2.0%
Energy	0.2%	1.9%
Utilities	0.1%	1.0%
Real Estate	-	2.1%

Return for Risk

ZUQ.TO vs. ESGY.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ZUQ.TO

ZUQ.TO Risk / Return Rank: 45
ZUQ.TO Sharpe Ratio Rank: 49
ZUQ.TO Sortino Ratio Rank: 46
ZUQ.TO Omega Ratio Rank: 50
ZUQ.TO Calmar Ratio Rank: 39
ZUQ.TO Martin Ratio Rank: 41

ESGY.TO

ESGY.TO Risk / Return Rank: 77
ESGY.TO Sharpe Ratio Rank: 84
ESGY.TO Sortino Ratio Rank: 86
ESGY.TO Omega Ratio Rank: 83
ESGY.TO Calmar Ratio Rank: 66
ESGY.TO Martin Ratio Rank: 67

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.

ZUQ.TO vs. ESGY.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO MSCI USA High Quality Index ETF (ZUQ.TO) and BMO MSCI USA Selection Equity Index ETF (ESGY.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.

	ZUQ.TO	ESGY.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.38	2.05	-0.67
Sortino ratio: Return per unit of downside risk	1.92	2.99	-1.07
Omega ratio: Gain probability vs. loss probability	1.26	1.37	-0.12
Calmar ratio: Return relative to maximum drawdown	1.65	2.47	-0.81
Martin ratio: Return relative to average drawdown	5.34	8.92	-3.59

ZUQ.TO vs. ESGY.TO - Sharpe Ratio Comparison

The current ZUQ.TO Sharpe Ratio is 1.38, which is lower than the ESGY.TO Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of ZUQ.TO and ESGY.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ZUQ.TO vs. ESGY.TO - Drawdown Comparison

The maximum ZUQ.TO drawdown since its inception was -26.93%, roughly equal to the maximum ESGY.TO drawdown of -26.36%. Use the drawdown chart below to compare losses from any high point for ZUQ.TO and ESGY.TO.

Drawdown Indicators

	ZUQ.TO	ESGY.TO	Difference
Max Drawdown Largest peak-to-trough decline	-26.93%	-26.36%	-0.57%
Max Drawdown (1Y) Largest decline over 1 year	-10.57%	-10.62%	+0.05%
Max Drawdown (3Y) Largest decline over 3 years	-17.93%	-20.83%	+2.90%
Max Drawdown (5Y) Largest decline over 5 years	-26.93%	-22.89%	-4.04%
Max Drawdown (10Y) Largest decline over 10 years	-26.93%	—	—
Current Drawdown Current decline from peak	-2.99%	-1.47%	-1.52%
Average Drawdown Average peak-to-trough decline	-4.54%	-5.25%	+0.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.27%	2.93%	+0.34%

Volatility

ZUQ.TO vs. ESGY.TO - Volatility Comparison

BMO MSCI USA High Quality Index ETF (ZUQ.TO) has a higher volatility of 3.51% compared to BMO MSCI USA Selection Equity Index ETF (ESGY.TO) at 2.85%. This indicates that ZUQ.TO's price experiences larger fluctuations and is considered to be riskier than ESGY.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZUQ.TO	ESGY.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.51%	2.85%	+0.66%
Volatility (6M) Calculated over the trailing 6-month period	9.22%	9.94%	-0.72%
Volatility (1Y) Calculated over the trailing 1-year period	12.69%	12.80%	-0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.40%	15.61%	+0.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.53%	16.82%	+0.71%

Dividends

ZUQ.TO vs. ESGY.TO - Dividend Comparison

ZUQ.TO's dividend yield for the trailing twelve months is around 0.44%, less than ESGY.TO's 0.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ESGY.TO BMO MSCI USA Selection Equity Index ETF	0.62%	0.66%	0.79%	1.16%	1.34%	1.12%	1.44%	0.00%	0.00%	0.00%	0.00%	0.00%
ZUQ.TO BMO MSCI USA High Quality Index ETF	0.44%	0.48%	0.60%	0.90%	1.03%	0.83%	1.00%	1.00%	1.12%	1.25%	1.26%	0.92%

Frequently Asked Questions

Can I hold both ZUQ.TO and ESGY.TO in my portfolio?

ZUQ.TO and ESGY.TO have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.