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CDIV.TO vs. ZEA.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

CDIV.TO vs. ZEA.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Manulife Smart Dividend ETF (CDIV.TO) and BMO MSCI EAFE Index ETF (ZEA.TO).

CDIV.TO and ZEA.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CDIV.TO is an actively managed fund by Manulife. It was launched on Nov 25, 2020. ZEA.TO is a passively managed fund by BMO that tracks the performance of the MSCI EAFE Index. It was launched on Feb 10, 2014.

Performance

CDIV.TO vs. ZEA.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Manulife Smart Dividend ETF (CDIV.TO) and BMO MSCI EAFE Index ETF (ZEA.TO). The values are adjusted to include any dividend payments, if applicable.

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CDIV.TO vs. ZEA.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
CDIV.TO
Manulife Smart Dividend ETF		8.54%25.88%15.23%11.77%-2.50%26.20%2.07%
ZEA.TO
BMO MSCI EAFE Index ETF		2.60%24.28%11.56%16.02%-8.51%10.64%1.33%

Returns By Period

In the year-to-date period, CDIV.TO achieves a 8.54% return, which is significantly higher than ZEA.TO's 2.60% return.

CDIV.TO

1D
2.90%
1M
-2.09%
YTD
8.54%
6M
10.63%
1Y
31.83%
3Y*
18.12%
5Y*
14.15%
10Y*
—

ZEA.TO

1D
2.76%
1M
-5.88%
YTD
2.60%
6M
5.10%
1Y
17.84%
3Y*
14.97%
5Y*
10.05%
10Y*
9.38%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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

Manulife Smart Dividend ETF

BMO MSCI EAFE Index ETF

Often compared with CDIV.TO:
CDIV.TO vs. XEI.TOCDIV.TO vs. XDIV.TOCDIV.TO vs. XDG.TOCDIV.TO vs. VDY.TOCDIV.TO vs. TBNK.TOCDIV.TO vs. ZDY.TOCDIV.TO vs. CWIN.TO
Often compared with ZEA.TO:
ZEA.TO vs. XEF.TOZEA.TO vs. XEQT.TOZEA.TO vs. VXC.TOZEA.TO vs. XAW.TOZEA.TO vs. IEFAZEA.TO vs. VFV.TOZEA.TO vs. ZSP.TO

CDIV.TO vs. ZEA.TO - Expense Ratio Comparison

CDIV.TO has a 0.28% expense ratio, which is higher than ZEA.TO's 0.22% expense ratio.

CDIV.TO
Manulife Smart Dividend ETF
ZEA.TO
BMO MSCI EAFE Index ETF

Return for Risk

CDIV.TO vs. ZEA.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CDIV.TO
CDIV.TO Risk / Return Rank: 9494
Overall Rank
CDIV.TO Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
CDIV.TO Sortino Ratio Rank: 9393
Sortino Ratio Rank
CDIV.TO Omega Ratio Rank: 9696
Omega Ratio Rank
CDIV.TO Calmar Ratio Rank: 9393
Calmar Ratio Rank
CDIV.TO Martin Ratio Rank: 9595
Martin Ratio Rank
ZEA.TO
ZEA.TO Risk / Return Rank: 6565
Overall Rank
ZEA.TO Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
ZEA.TO Sortino Ratio Rank: 6565
Sortino Ratio Rank
ZEA.TO Omega Ratio Rank: 6565
Omega Ratio Rank
ZEA.TO Calmar Ratio Rank: 6565
Calmar Ratio Rank
ZEA.TO Martin Ratio Rank: 6464
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.

CDIV.TO vs. ZEA.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Manulife Smart Dividend ETF (CDIV.TO) and BMO MSCI EAFE Index ETF (ZEA.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.

CDIV.TOZEA.TODifference

Sharpe ratio

Return per unit of total volatility

2.32

1.10

+1.22

Sortino ratio

Return per unit of downside risk

2.81

1.57

+1.24

Omega ratio

Gain probability vs. loss probability

1.49

1.23

+0.27

Calmar ratio

Return relative to maximum drawdown

3.50

1.55

+1.95

Martin ratio

Return relative to average drawdown

15.02

5.92

+9.10

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

CDIV.TO vs. ZEA.TO - Sharpe Ratio Comparison

The current CDIV.TO Sharpe Ratio is 2.32, which is higher than the ZEA.TO Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of CDIV.TO and ZEA.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

CDIV.TOZEA.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.32

1.10

+1.22

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.19

0.76

+0.43

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.64

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.35

0.56

+0.79

Correlation

The correlation between CDIV.TO and ZEA.TO is 0.59, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

CDIV.TO vs. ZEA.TO - Dividend Comparison

CDIV.TO's dividend yield for the trailing twelve months is around 1.83%, less than ZEA.TO's 2.08% yield.

TTM20252024202320222021202020192018201720162015
CDIV.TO
Manulife Smart Dividend ETF		1.83%3.02%3.41%3.45%3.41%2.38%0.07%0.00%0.00%0.00%0.00%0.00%
ZEA.TO
BMO MSCI EAFE Index ETF		2.08%2.17%2.77%3.00%3.06%2.48%2.72%2.93%3.03%2.39%2.78%2.42%

Drawdowns

CDIV.TO vs. ZEA.TO - Drawdown Comparison

The maximum CDIV.TO drawdown since its inception was -16.44%, smaller than the maximum ZEA.TO drawdown of -27.80%. Use the drawdown chart below to compare losses from any high point for CDIV.TO and ZEA.TO.

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Drawdown Indicators

CDIV.TOZEA.TODifference

Max Drawdown

Largest peak-to-trough decline

-16.44%

-27.80%

+11.36%

Max Drawdown (1Y)

Largest decline over 1 year

-9.38%

-11.09%

+1.71%

Max Drawdown (5Y)

Largest decline over 5 years

-16.44%

-23.67%

+7.23%

Max Drawdown (10Y)

Largest decline over 10 years

—

-27.80%

—

Current Drawdown

Current decline from peak

-2.51%

-6.46%

+3.95%

Average Drawdown

Average peak-to-trough decline

-2.90%

-4.66%

+1.76%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.19%

2.94%

-0.75%

Volatility

CDIV.TO vs. ZEA.TO - Volatility Comparison

The current volatility for Manulife Smart Dividend ETF (CDIV.TO) is 5.22%, while BMO MSCI EAFE Index ETF (ZEA.TO) has a volatility of 7.36%. This indicates that CDIV.TO experiences smaller price fluctuations and is considered to be less risky than ZEA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CDIV.TOZEA.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.22%

7.36%

-2.14%

Volatility (6M)

Calculated over the trailing 6-month period

10.63%

10.22%

+0.41%

Volatility (1Y)

Calculated over the trailing 1-year period

13.79%

16.27%

-2.48%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.96%

13.29%

-1.33%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.93%

14.80%

-2.87%