ZXLK.TO vs. LEAD.TO

Last updated Aug 1, 2026

ZXLK.TO (BMO SPDR Technology Select Sector Index ETF) and LEAD.TO (Evolve Future Leadership Fund) are both exchange-traded funds - ZXLK.TO is a Technology Equities fund tracking the Technology Select Sector Index, while LEAD.TO is a Global Equities fund actively managed by Evolve. ZXLK.TO is passively managed, while LEAD.TO is actively managed. Over the past year, ZXLK.TO returned 20.90% vs -4.63% for LEAD.TO. Their 0.37 correlation means their historical movements had little consistent relationship. ZXLK.TO charges 0.21%/yr vs 0.92%/yr for LEAD.TO.

Performance

ZXLK.TO vs. LEAD.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO SPDR Technology Select Sector Index ETF (ZXLK.TO) and Evolve Future Leadership Fund (LEAD.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZXLK.TO achieves a 23.97% return, which is significantly higher than LEAD.TO's -6.49% return.

ZXLK.TO

• 1D: 0.02%
• 1M: -8.84%
• 6M: 26.36%
• YTD: 23.97%
• 1Y: 20.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 24.16%

LEAD.TO

• 1D: 0.05%
• 1M: -3.30%
• 6M: -0.18%
• YTD: -6.49%
• 1Y: -4.63%
• 3Y*: 16.68%
• 5Y*: 5.32%
• 10Y*: —
• ALL TIME*: 8.14%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
LEAD.TO Evolve Future Leadership Fund	CA$2.86K	CA$6.53K	CA$6.70K
ZXLK.TO BMO SPDR Technology Select Sector Index ETF	CA$201.73K	CA$193.67K	CA$305.73K

ZXLK.TO vs. LEAD.TO - Yearly Performance Comparison

	2026 (YTD)	2025
ZXLK.TO BMO SPDR Technology Select Sector Index ETF	23.97%	9.84%
LEAD.TO Evolve Future Leadership Fund	-6.49%	8.71%

Correlation

The correlation between ZXLK.TO and LEAD.TO is 0.38, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.38
Correlation (All Time) Calculated using the full available price history since Feb 25, 2025	0.37

Return for Risk

ZXLK.TO vs. LEAD.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ZXLK.TO

ZXLK.TO Risk / Return Rank: 29
ZXLK.TO Sharpe Ratio Rank: 31
ZXLK.TO Sortino Ratio Rank: 30
ZXLK.TO Omega Ratio Rank: 34
ZXLK.TO Calmar Ratio Rank: 26
ZXLK.TO Martin Ratio Rank: 25

LEAD.TO

LEAD.TO Risk / Return Rank: 8
LEAD.TO Sharpe Ratio Rank: 7
LEAD.TO Sortino Ratio Rank: 7
LEAD.TO Omega Ratio Rank: 7
LEAD.TO Calmar Ratio Rank: 8
LEAD.TO Martin Ratio Rank: 8

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ZXLK.TO vs. LEAD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO SPDR Technology Select Sector Index ETF (ZXLK.TO) and Evolve Future Leadership Fund (LEAD.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.

	ZXLK.TO	LEAD.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.78	-0.25	+1.03
Sortino ratio: Return per unit of downside risk	1.13	-0.22	+1.35
Omega ratio: Gain probability vs. loss probability	1.16	0.97	+0.19
Calmar ratio: Return relative to maximum drawdown	0.84	-0.21	+1.04
Martin ratio: Return relative to average drawdown	1.98	-0.45	+2.43

ZXLK.TO vs. LEAD.TO - Sharpe Ratio Comparison

The current ZXLK.TO Sharpe Ratio is 0.78, which is higher than the LEAD.TO Sharpe Ratio of -0.25. The chart below compares the historical Sharpe Ratios of ZXLK.TO and LEAD.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

ZXLK.TO vs. LEAD.TO - Drawdown Comparison

The maximum ZXLK.TO drawdown since its inception was -25.04%, smaller than the maximum LEAD.TO drawdown of -39.80%. Use the drawdown chart below to compare losses from any high point for ZXLK.TO and LEAD.TO.

Drawdown Indicators

	ZXLK.TO	LEAD.TO	Difference
Max Drawdown Largest peak-to-trough decline	-25.04%	-39.80%	+14.76%
Max Drawdown (1Y) Largest decline over 1 year	-25.04%	-22.65%	-2.39%
Max Drawdown (3Y) Largest decline over 3 years	—	-22.65%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-39.80%	—
Current Drawdown Current decline from peak	-10.07%	-11.53%	+1.46%
Average Drawdown Average peak-to-trough decline	-7.05%	-13.80%	+6.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.60%	10.25%	+0.35%

Volatility

ZXLK.TO vs. LEAD.TO - Volatility Comparison

BMO SPDR Technology Select Sector Index ETF (ZXLK.TO) has a higher volatility of 7.96% compared to Evolve Future Leadership Fund (LEAD.TO) at 4.71%. This indicates that ZXLK.TO's price experiences larger fluctuations and is considered to be riskier than LEAD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZXLK.TO	LEAD.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.96%	4.71%	+3.25%
Volatility (6M) Calculated over the trailing 6-month period	20.91%	14.84%	+6.07%
Volatility (1Y) Calculated over the trailing 1-year period	26.92%	18.65%	+8.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.88%	21.78%	+9.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.88%	21.00%	+9.88%

ZXLK.TO vs. LEAD.TO - Expense Ratio Comparison

ZXLK.TO has a 0.21% expense ratio, which is lower than LEAD.TO's 0.92% expense ratio.

Dividends

ZXLK.TO vs. LEAD.TO - Dividend Comparison

ZXLK.TO's dividend yield for the trailing twelve months is around 0.25%, less than LEAD.TO's 12.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
LEAD.TO Evolve Future Leadership Fund	12.34%	9.21%	5.84%	7.25%	9.02%	5.44%	1.48%
ZXLK.TO BMO SPDR Technology Select Sector Index ETF	0.25%	0.31%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ZXLK.TO and LEAD.TO in my portfolio?

ZXLK.TO and LEAD.TO have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZXLK.TO or LEAD.TO?

On fees, ZXLK.TO is cheaper at 0.21% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZXLK.TO or LEAD.TO?

ZXLK.TO is cheaper with a 0.21% expense ratio, compared with 0.92% for LEAD.TO.

What is the main difference between ZXLK.TO and LEAD.TO?

ZXLK.TO is categorized as Technology Equities, while LEAD.TO is Global Equities. They also come from different issuers: BMO and Evolve. Their fees differ too: 0.21% for ZXLK.TO and 0.92% for LEAD.TO.