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BMO.TO vs. XDIV.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BMO.TO vs. XDIV.TO

Last updated Jun 5, 2026

BMO.TO (Bank of Montreal) is a stock, while XDIV.TO (iShares Core MSCI Canadian Quality Dividend Index ETF) is Dividend fund tracking the MSCI Canada High Dividend Yield 10% Security Capped Index. Over the past 5 years, BMO.TO returned 17.67%/yr vs 16.63%/yr for XDIV.TO. A 0.67 correlation means they provide meaningful diversification when combined.

Performance

BMO.TO vs. XDIV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Bank of Montreal (BMO.TO) and iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BMO.TO achieves a 31.01% return, which is significantly higher than XDIV.TO's 20.26% return.

BMO.TO

1D
1.81%
1M
11.70%
YTD
31.01%
6M
32.07%
1Y
60.82%
3Y*
31.55%
5Y*
17.67%
10Y*
15.75%

XDIV.TO

1D
0.91%
1M
3.66%
YTD
20.26%
6M
19.53%
1Y
40.50%
3Y*
23.53%
5Y*
16.63%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

BMO.TO vs. XDIV.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
BMO.TO
Bank of Montreal		31.01%33.33%11.74%12.19%-5.39%46.90%2.39%17.51%-7.94%10.25%
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ETF		20.26%24.92%19.56%11.71%0.29%32.25%-7.81%24.84%-10.04%8.48%

Correlation

The correlation between BMO.TO and XDIV.TO is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.40

Correlation (3Y)
Calculated over the trailing 3-year period

0.56

Correlation (5Y)
Calculated over the trailing 5-year period

0.65

Correlation (All Time)
Calculated using the full available price history since Jun 16, 2017

0.67

Over the past year, the correlation between BMO.TO and XDIV.TO has dropped to 0.40 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Bank of Montreal

iShares Core MSCI Canadian Quality Dividend Index ETF

Often compared with BMO.TO:
BMO.TO vs. RY.TOBMO.TO vs. TDBMO.TO vs. CM.TOBMO.TO vs. VDY.TOBMO.TO vs. BNS.TOBMO.TO vs. ENB.TOBMO.TO vs. NA.TO
Often compared with XDIV.TO:
XDIV.TO vs. VDY.TOXDIV.TO vs. XEI.TOXDIV.TO vs. XDV.TOXDIV.TO vs. XEQT.TOXDIV.TO vs. HDIV.TOXDIV.TO vs. XIU.TOXDIV.TO vs. CDZ.TO

Return for Risk

BMO.TO vs. XDIV.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BMO.TO
BMO.TO Risk / Return Rank: 9595
Overall Rank
BMO.TO Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
BMO.TO Sortino Ratio Rank: 9696
Sortino Ratio Rank
BMO.TO Omega Ratio Rank: 9595
Omega Ratio Rank
BMO.TO Calmar Ratio Rank: 9393
Calmar Ratio Rank
BMO.TO Martin Ratio Rank: 9696
Martin Ratio Rank
XDIV.TO
XDIV.TO Risk / Return Rank: 9898
Overall Rank
XDIV.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
XDIV.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
XDIV.TO Omega Ratio Rank: 9898
Omega Ratio Rank
XDIV.TO Calmar Ratio Rank: 9898
Calmar Ratio Rank
XDIV.TO Martin Ratio Rank: 9898
Martin Ratio Rank
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.

BMO.TO vs. XDIV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bank of Montreal (BMO.TO) and iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.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.

BMO.TOXDIV.TODifference
Sharpe ratioReturn per unit of total volatility
3.45
5.17

-1.72

Sortino ratioReturn per unit of downside risk
4.49
7.63

-3.13

Omega ratioGain probability vs. loss probability

1.58

2.09

-0.50

Calmar ratioReturn relative to maximum drawdown

6.04

17.45

-11.41

Martin ratioReturn relative to average drawdown

21.86

59.31

-37.46

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BMO.TO vs. XDIV.TO - Sharpe Ratio Comparison

The current BMO.TO Sharpe Ratio is 3.45, which is lower than the XDIV.TO Sharpe Ratio of 5.17. The chart below compares the historical Sharpe Ratios of BMO.TO and XDIV.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.

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Sharpe Ratios by Period

BMO.TOXDIV.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.45

5.17

-1.72

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.97

1.59

-0.62

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.75

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.60

0.82

-0.22

Drawdowns

BMO.TO vs. XDIV.TO - Drawdown Comparison

The maximum BMO.TO drawdown since its inception was -62.39%, which is greater than XDIV.TO's maximum drawdown of -41.30%. Use the drawdown chart below to compare losses from any high point for BMO.TO and XDIV.TO.

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Drawdown Indicators

BMO.TOXDIV.TODifference

Max Drawdown

Largest peak-to-trough decline

-62.39%

-41.30%

-21.09%

Max Drawdown (1Y)

Largest decline over 1 year

-10.12%

-2.33%

-7.79%

Max Drawdown (3Y)

Largest decline over 3 years

-16.57%

-10.53%

-6.04%

Max Drawdown (5Y)

Largest decline over 5 years

-26.85%

-17.60%

-9.25%

Max Drawdown (10Y)

Largest decline over 10 years

-45.59%

—

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-10.54%

-4.25%

-6.29%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.79%

0.68%

+2.11%

Volatility

BMO.TO vs. XDIV.TO - Volatility Comparison

Bank of Montreal (BMO.TO) has a higher volatility of 5.73% compared to iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO) at 2.81%. This indicates that BMO.TO's price experiences larger fluctuations and is considered to be riskier than XDIV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BMO.TOXDIV.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.73%

2.81%

+2.92%

Volatility (6M)

Calculated over the trailing 6-month period

14.65%

6.37%

+8.28%

Volatility (1Y)

Calculated over the trailing 1-year period

17.72%

7.89%

+9.83%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.34%

10.53%

+7.81%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.98%

16.00%

+4.98%

Dividends

BMO.TO vs. XDIV.TO - Dividend Comparison

BMO.TO's dividend yield for the trailing twelve months is around 2.87%, less than XDIV.TO's 3.26% yield.

PositionTTM20252024202320222021202020192018201720162015
BMO.TO
Bank of Montreal		2.87%3.61%4.39%4.42%5.32%3.74%5.20%4.03%4.24%3.54%3.84%4.15%
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ETF		3.26%3.81%4.29%4.20%3.95%3.58%4.58%4.02%4.85%1.82%0.00%0.00%

Frequently Asked Questions

BMO.TO and XDIV.TO have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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