ZVC.TO vs. CGVV

Last updated Jun 4, 2026

ZVC.TO (BMO MSCI Canada Value Index ETF) and CGVV (Capital Group U.S. Large Value ETF) are both Large Cap Value Equities funds. ZVC.TO is passively managed, while CGVV is actively managed. A 0.53 correlation means they provide meaningful diversification when combined. ZVC.TO charges 0.40%/yr vs 0.33%/yr for CGVV.

Performance

ZVC.TO vs. CGVV - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO MSCI Canada Value Index ETF (ZVC.TO) and Capital Group U.S. Large Value ETF (CGVV). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ZVC.TO is traded in CAD, while CGVV is traded in USD. To make them comparable, the CGVV values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ZVC.TO achieves a 16.23% return, which is significantly higher than CGVV's 12.94% return.

ZVC.TO

• 1D: -0.32%
• 1M: 4.99%
• YTD: 16.23%
• 6M: 18.05%
• 1Y: 43.80%
• 3Y*: 23.40%
• 5Y*: 16.44%
• 10Y*: —

CGVV

• 1D: 0.31%
• 1M: 3.44%
• YTD: 12.94%
• 6M: 10.98%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ZVC.TO vs. CGVV - Yearly Performance Comparison

	2026 (YTD)	2025
ZVC.TO BMO MSCI Canada Value Index ETF	16.23%	22.21%
CGVV Capital Group U.S. Large Value ETF	12.94%	7.06%

Correlation

The correlation between ZVC.TO and CGVV is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 27, 2025	0.53

Return for Risk

ZVC.TO vs. CGVV — Risk / Return Rank

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

ZVC.TO

ZVC.TO Risk / Return Rank: 96
ZVC.TO Sharpe Ratio Rank: 96
ZVC.TO Sortino Ratio Rank: 96
ZVC.TO Omega Ratio Rank: 96
ZVC.TO Calmar Ratio Rank: 94
ZVC.TO Martin Ratio Rank: 96

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.

ZVC.TO vs. CGVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO MSCI Canada Value Index ETF (ZVC.TO) and Capital Group U.S. Large Value ETF (CGVV). 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.

	ZVC.TO	CGVV	Difference
Sharpe ratio: Return per unit of total volatility	4.27	—	—
Sortino ratio: Return per unit of downside risk	5.80	—	—
Omega ratio: Gain probability vs. loss probability	1.82	—	—
Calmar ratio: Return relative to maximum drawdown	7.20	—	—
Martin ratio: Return relative to average drawdown	35.91	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ZVC.TO	CGVV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.27	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.23	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	1.72	-1.02

Drawdowns

ZVC.TO vs. CGVV - Drawdown Comparison

The maximum ZVC.TO drawdown since its inception was -41.00%, which is greater than CGVV's maximum drawdown of -8.45%. Use the drawdown chart below to compare losses from any high point for ZVC.TO and CGVV.

Drawdown Indicators

	ZVC.TO	CGVV	Difference
Max Drawdown Largest peak-to-trough decline	-41.00%	-8.45%	-32.55%
Max Drawdown (1Y) Largest decline over 1 year	-6.11%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-13.34%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.17%	—	—
Current Drawdown Current decline from peak	-0.32%	-0.47%	+0.15%
Average Drawdown Average peak-to-trough decline	-4.92%	-1.50%	-3.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.22%	—	—

Volatility

Volatility by Period

	ZVC.TO	CGVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.20%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.14%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.32%	13.15%	-2.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.46%	13.15%	+0.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.30%	13.15%	+4.15%

ZVC.TO vs. CGVV - Expense Ratio Comparison

ZVC.TO has a 0.40% expense ratio, which is higher than CGVV's 0.33% expense ratio.

Dividends

ZVC.TO vs. CGVV - Dividend Comparison

ZVC.TO's dividend yield for the trailing twelve months is around 1.95%, more than CGVV's 0.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CGVV Capital Group U.S. Large Value ETF	0.51%	0.57%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ZVC.TO BMO MSCI Canada Value Index ETF	1.95%	2.23%	2.87%	3.32%	2.96%	2.41%	3.30%	2.66%	2.67%

Frequently Asked Questions

Can I hold both ZVC.TO and CGVV in my portfolio?

ZVC.TO and CGVV have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZVC.TO or CGVV?

On fees, CGVV is cheaper at 0.33% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZVC.TO or CGVV?

CGVV is cheaper with a 0.33% expense ratio, compared with 0.40% for ZVC.TO.

What is the main difference between ZVC.TO and CGVV?

They also come from different issuers: BMO and Capital Group. Their fees differ too: 0.40% for ZVC.TO and 0.33% for CGVV.