ZXLK.TO vs. XMTM.TO
ZXLK.TO (BMO SPDR Technology Select Sector Index ETF) and XMTM.TO (iShares MSCI USA Momentum Factor Index ETF) are both exchange-traded funds - ZXLK.TO is a Technology Equities fund tracking the Technology Select Sector Index, while XMTM.TO is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. Both are passively managed. Over the past year, ZXLK.TO returned 35.43% vs 38.60% for XMTM.TO. A 0.58 correlation means they provide meaningful diversification when combined. ZXLK.TO charges 0.21%/yr vs 0.31%/yr for XMTM.TO.
Performance
ZXLK.TO vs. XMTM.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with ZXLK.TO having a 32.53% return and XMTM.TO slightly lower at 32.49%.
ZXLK.TO
- 1D
- 0.15%
- 1M
- 3.13%
- 6M
- 30.11%
- YTD
- 32.53%
- 1Y
- 35.43%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XMTM.TO
- 1D
- 0.09%
- 1M
- 2.35%
- 6M
- 27.53%
- YTD
- 32.49%
- 1Y
- 38.60%
- 3Y*
- 33.85%
- 5Y*
- 16.76%
- 10Y*
- —
ZXLK.TO vs. XMTM.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ZXLK.TO BMO SPDR Technology Select Sector Index ETF | 32.53% | 9.84% |
XMTM.TO iShares MSCI USA Momentum Factor Index ETF | 32.49% | 9.06% |
Correlation
The correlation between ZXLK.TO and XMTM.TO is 0.68, 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 | 0.68 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2025 | 0.58 |
The correlation between ZXLK.TO and XMTM.TO shifts across timeframes, from 0.58 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ZXLK.TO vs. XMTM.TO — Risk / Return Rank
ZXLK.TO
XMTM.TO
ZXLK.TO vs. XMTM.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 iShares MSCI USA Momentum Factor Index ETF (XMTM.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 | XMTM.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.31 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | 3.36 | -1.96 |
| Martin ratioReturn relative to average drawdown | 3.38 | 9.01 | -5.63 |
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Drawdowns
ZXLK.TO vs. XMTM.TO - Drawdown Comparison
The maximum ZXLK.TO drawdown since its inception was -25.04%, smaller than the maximum XMTM.TO drawdown of -29.01%. Use the drawdown chart below to compare losses from any high point for ZXLK.TO and XMTM.TO.
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Drawdown Indicators
| ZXLK.TO | XMTM.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.04% | -29.01% | +3.97% |
Max Drawdown (1Y)Largest decline over 1 year | -25.04% | -11.42% | -13.62% |
Max Drawdown (3Y)Largest decline over 3 years | — | -20.64% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.01% | — |
Current DrawdownCurrent decline from peak | -3.87% | -6.52% | +2.65% |
Average DrawdownAverage peak-to-trough decline | -6.97% | -7.90% | +0.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.37% | 4.25% | +6.12% |
Volatility
ZXLK.TO vs. XMTM.TO - Volatility Comparison
The current volatility for BMO SPDR Technology Select Sector Index ETF (ZXLK.TO) is 11.09%, while iShares MSCI USA Momentum Factor Index ETF (XMTM.TO) has a volatility of 13.89%. This indicates that ZXLK.TO experiences smaller price fluctuations and is considered to be less risky than XMTM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZXLK.TO | XMTM.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.09% | 13.89% | -2.80% |
Volatility (6M)Calculated over the trailing 6-month period | 20.45% | 21.32% | -0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.30% | 23.71% | +2.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.03% | 19.95% | +11.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.03% | 20.77% | +10.26% |
ZXLK.TO vs. XMTM.TO - Expense Ratio Comparison
ZXLK.TO has a 0.21% expense ratio, which is lower than XMTM.TO's 0.31% expense ratio.
Dividends
ZXLK.TO vs. XMTM.TO - Dividend Comparison
ZXLK.TO's dividend yield for the trailing twelve months is around 0.23%, less than XMTM.TO's 0.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
XMTM.TO iShares MSCI USA Momentum Factor Index ETF | 0.48% | 0.71% | 0.62% | 0.84% | 1.66% | 0.32% | 0.64% | 1.24% |
ZXLK.TO BMO SPDR Technology Select Sector Index ETF | 0.23% | 0.31% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZXLK.TO and XMTM.TO have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
ZXLK.TO is cheaper with a 0.21% expense ratio, compared with 0.31% for XMTM.TO.
ZXLK.TO is categorized as Technology Equities, while XMTM.TO is Momentum. ZXLK.TO tracks Technology Select Sector Index, while XMTM.TO tracks MSCI USA Momentum SR Variant Index. They also come from different issuers: BMO and iShares. Their fees differ too: 0.21% for ZXLK.TO and 0.31% for XMTM.TO.
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