AMZN.TO vs. ZDV.TO

Last updated Jun 4, 2026

AMZN.TO (Amazon.com CDR (CAD Hedged)) is a stock, while ZDV.TO (BMO Canadian Dividend ETF) is Canada Equities fund actively managed by BMO. Over the past year, AMZN.TO returned 18.64% vs 31.08% for ZDV.TO. At a 0.21 correlation, their price movements are largely independent.

Performance

AMZN.TO vs. ZDV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Amazon.com CDR (CAD Hedged) (AMZN.TO) and BMO Canadian Dividend ETF (ZDV.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMZN.TO achieves a 7.31% return, which is significantly lower than ZDV.TO's 18.56% return.

AMZN.TO

• 1D: -2.77%
• 1M: -8.08%
• YTD: 7.31%
• 6M: 6.48%
• 1Y: 18.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ZDV.TO

• 1D: -0.22%
• 1M: 4.61%
• YTD: 18.56%
• 6M: 13.14%
• 1Y: 31.08%
• 3Y*: 20.39%
• 5Y*: 13.72%
• 10Y*: 10.97%

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

AMZN.TO vs. ZDV.TO - Yearly Performance Comparison

	2026 (YTD)	2025
AMZN.TO Amazon.com CDR (CAD Hedged)	7.31%	-4.32%
ZDV.TO BMO Canadian Dividend ETF	18.56%	17.06%

Correlation

The correlation between AMZN.TO and ZDV.TO is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (All Time) Calculated using the full available price history since Feb 6, 2025	0.21

The correlation between AMZN.TO and ZDV.TO shifts across timeframes, from 0.09 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AMZN.TO vs. ZDV.TO — Risk / Return Rank

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

AMZN.TO

AMZN.TO Risk / Return Rank: 57
AMZN.TO Sharpe Ratio Rank: 61
AMZN.TO Sortino Ratio Rank: 55
AMZN.TO Omega Ratio Rank: 54
AMZN.TO Calmar Ratio Rank: 58
AMZN.TO Martin Ratio Rank: 59

ZDV.TO

ZDV.TO Risk / Return Rank: 85
ZDV.TO Sharpe Ratio Rank: 87
ZDV.TO Sortino Ratio Rank: 74
ZDV.TO Omega Ratio Rank: 93
ZDV.TO Calmar Ratio Rank: 85
ZDV.TO Martin Ratio Rank: 85

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.

AMZN.TO vs. ZDV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amazon.com CDR (CAD Hedged) (AMZN.TO) and BMO Canadian Dividend ETF (ZDV.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.

	AMZN.TO	ZDV.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.64	2.95	-2.32
Sortino ratio: Return per unit of downside risk	1.08	3.40	-2.32
Omega ratio: Gain probability vs. loss probability	1.13	1.66	-0.52
Calmar ratio: Return relative to maximum drawdown	0.85	4.69	-3.85
Martin ratio: Return relative to average drawdown	2.01	18.24	-16.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AMZN.TO vs. ZDV.TO - Sharpe Ratio Comparison

The current AMZN.TO Sharpe Ratio is 0.64, which is lower than the ZDV.TO Sharpe Ratio of 2.95. The chart below compares the historical Sharpe Ratios of AMZN.TO and ZDV.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.

Sharpe Ratios by Period

	AMZN.TO	ZDV.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.64	2.95	-2.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.26	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.73	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	0.68	-0.62

Drawdowns

AMZN.TO vs. ZDV.TO - Drawdown Comparison

The maximum AMZN.TO drawdown since its inception was -30.30%, smaller than the maximum ZDV.TO drawdown of -43.21%. Use the drawdown chart below to compare losses from any high point for AMZN.TO and ZDV.TO.

Drawdown Indicators

	AMZN.TO	ZDV.TO	Difference
Max Drawdown Largest peak-to-trough decline	-30.30%	-43.21%	+12.91%
Max Drawdown (1Y) Largest decline over 1 year	-22.10%	-6.65%	-15.45%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.04%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.72%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-43.21%	—
Current Drawdown Current decline from peak	-9.07%	-0.22%	-8.85%
Average Drawdown Average peak-to-trough decline	-10.71%	-5.12%	-5.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.30%	1.71%	+7.59%

Volatility

AMZN.TO vs. ZDV.TO - Volatility Comparison

Amazon.com CDR (CAD Hedged) (AMZN.TO) has a higher volatility of 7.41% compared to BMO Canadian Dividend ETF (ZDV.TO) at 2.49%. This indicates that AMZN.TO's price experiences larger fluctuations and is considered to be riskier than ZDV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMZN.TO	ZDV.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.41%	2.49%	+4.92%
Volatility (6M) Calculated over the trailing 6-month period	19.99%	9.69%	+10.30%
Volatility (1Y) Calculated over the trailing 1-year period	29.36%	10.57%	+18.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.28%	10.94%	+22.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.28%	15.11%	+18.17%

Dividends

AMZN.TO vs. ZDV.TO - Dividend Comparison

AMZN.TO has not paid dividends to shareholders, while ZDV.TO's dividend yield for the trailing twelve months is around 2.68%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMZN.TO Amazon.com CDR (CAD Hedged)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ZDV.TO BMO Canadian Dividend ETF	2.68%	3.07%	3.57%	4.10%	4.10%	3.63%	4.48%	4.11%	5.06%	3.96%	3.84%	4.63%

Frequently Asked Questions

Can I hold both AMZN.TO and ZDV.TO in my portfolio?

AMZN.TO and ZDV.TO have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.