CDIV.TO vs. ZZZD.TO
CDIV.TO (Manulife Smart Dividend ETF) and ZZZD.TO (BMO Tactical Dividend ETF Fund) are both Dividend funds. Both are actively managed. Over the past 5 years, CDIV.TO returned 12.33%/yr vs 6.96%/yr for ZZZD.TO. At a 0.31 correlation, their price movements are largely independent.
Performance
CDIV.TO vs. ZZZD.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CDIV.TO achieves a 16.68% return, which is significantly higher than ZZZD.TO's 11.24% return.
CDIV.TO
- 1D
- 0.46%
- 1M
- 1.00%
- 6M
- 12.70%
- YTD
- 16.68%
- 1Y
- 23.74%
- 3Y*
- 18.68%
- 5Y*
- 12.33%
- 10Y*
- —
ZZZD.TO
- 1D
- 0.53%
- 1M
- -0.48%
- 6M
- 10.53%
- YTD
- 11.24%
- 1Y
- 15.16%
- 3Y*
- 10.47%
- 5Y*
- 6.96%
- 10Y*
- —
CDIV.TO vs. ZZZD.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CDIV.TO Manulife Smart Dividend ETF | 16.68% | 18.95% | 13.96% | 11.77% | -2.50% | 26.20% | 1.92% |
ZZZD.TO BMO Tactical Dividend ETF Fund | 11.24% | 10.01% | 3.96% | 10.10% | -0.86% | 5.24% | 0.56% |
Correlation
The correlation between CDIV.TO and ZZZD.TO is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2020 | 0.31 |
The correlation between CDIV.TO and ZZZD.TO shifts across timeframes, from 0.16 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CDIV.TO vs. ZZZD.TO — Risk / Return Rank
CDIV.TO
ZZZD.TO
CDIV.TO vs. ZZZD.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Manulife Smart Dividend ETF (CDIV.TO) and BMO Tactical Dividend ETF Fund (ZZZD.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.
| CDIV.TO | ZZZD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.96 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.35 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 5.61 | -3.45 |
| Martin ratioReturn relative to average drawdown | 6.84 | 18.21 | -11.38 |
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Drawdowns
CDIV.TO vs. ZZZD.TO - Drawdown Comparison
The maximum CDIV.TO drawdown since its inception was -16.44%, smaller than the maximum ZZZD.TO drawdown of -22.28%. Use the drawdown chart below to compare losses from any high point for CDIV.TO and ZZZD.TO.
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Drawdown Indicators
| CDIV.TO | ZZZD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.44% | -22.28% | +5.84% |
Max Drawdown (1Y)Largest decline over 1 year | -11.05% | -2.72% | -8.33% |
Max Drawdown (3Y)Largest decline over 3 years | -11.05% | -9.21% | -1.84% |
Max Drawdown (5Y)Largest decline over 5 years | -16.44% | -14.72% | -1.72% |
Current DrawdownCurrent decline from peak | -0.10% | -0.56% | +0.46% |
Average DrawdownAverage peak-to-trough decline | -3.03% | -4.67% | +1.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.48% | 0.84% | +2.64% |
Volatility
CDIV.TO vs. ZZZD.TO - Volatility Comparison
Manulife Smart Dividend ETF (CDIV.TO) has a higher volatility of 3.91% compared to BMO Tactical Dividend ETF Fund (ZZZD.TO) at 2.48%. This indicates that CDIV.TO's price experiences larger fluctuations and is considered to be riskier than ZZZD.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.TO | ZZZD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.91% | 2.48% | +1.43% |
Volatility (6M)Calculated over the trailing 6-month period | 9.80% | 6.50% | +3.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.76% | 8.47% | +7.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.87% | 11.17% | +1.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.58% | 12.64% | -0.06% |
Dividends
CDIV.TO vs. ZZZD.TO - Dividend Comparison
CDIV.TO's dividend yield for the trailing twelve months is around 2.47%, less than ZZZD.TO's 3.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
CDIV.TO Manulife Smart Dividend ETF | 2.47% | 3.19% | 3.45% | 3.45% | 3.41% | 2.38% | 0.07% | 0.00% |
ZZZD.TO BMO Tactical Dividend ETF Fund | 3.73% | 4.07% | 4.29% | 4.28% | 4.51% | 4.27% | 4.09% | 3.11% |
Frequently Asked Questions
CDIV.TO and ZZZD.TO have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Manulife and BMO.
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