CDZ.TO vs. CMVP.TO

Last updated Jun 4, 2026

CDZ.TO (iShares S&P/TSX Canadian Dividend Aristocrats Index ETF) and CMVP.TO (HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units) are both Canada Equities funds - CDZ.TO tracks the Morningstar Canada GR CAD while CMVP.TO tracks the Solactive Canada Dividend Elite Champions Index. Both are passively managed. Over the past year, CDZ.TO returned 22.32% vs 25.73% for CMVP.TO. A 0.74 correlation means they provide meaningful diversification when combined. CDZ.TO charges 0.66%/yr vs 0.00%/yr for CMVP.TO.

Performance

CDZ.TO vs. CMVP.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX Canadian Dividend Aristocrats Index ETF (CDZ.TO) and HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units (CMVP.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CDZ.TO achieves a 13.46% return, which is significantly higher than CMVP.TO's 11.91% return.

CDZ.TO

• 1D: 0.00%
• 1M: 3.31%
• YTD: 13.46%
• 6M: 10.74%
• 1Y: 22.32%
• 3Y*: 16.81%
• 5Y*: 10.31%
• 10Y*: 9.44%

CMVP.TO

• 1D: -0.29%
• 1M: 2.40%
• YTD: 11.91%
• 6M: 14.09%
• 1Y: 25.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CDZ.TO vs. CMVP.TO - Yearly Performance Comparison

	2026 (YTD)	2025
CDZ.TO iShares S&P/TSX Canadian Dividend Aristocrats Index ETF	13.46%	13.30%
CMVP.TO HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units	11.91%	21.46%

Correlation

The correlation between CDZ.TO and CMVP.TO is 0.73, 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	0.73
Correlation (All Time) Calculated using the full available price history since Jan 28, 2025	0.74

The correlation between CDZ.TO and CMVP.TO has been stable across timeframes, ranging from 0.73 to 0.74 - a consistent structural relationship.

Return for Risk

CDZ.TO vs. CMVP.TO — Risk / Return Rank

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

CDZ.TO

CDZ.TO Risk / Return Rank: 84
CDZ.TO Sharpe Ratio Rank: 82
CDZ.TO Sortino Ratio Rank: 77
CDZ.TO Omega Ratio Rank: 88
CDZ.TO Calmar Ratio Rank: 89
CDZ.TO Martin Ratio Rank: 86

CMVP.TO

CMVP.TO Risk / Return Rank: 79
CMVP.TO Sharpe Ratio Rank: 81
CMVP.TO Sortino Ratio Rank: 80
CMVP.TO Omega Ratio Rank: 80
CMVP.TO Calmar Ratio Rank: 72
CMVP.TO Martin Ratio Rank: 81

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.

CDZ.TO vs. CMVP.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Canadian Dividend Aristocrats Index ETF (CDZ.TO) and HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units (CMVP.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.

	CDZ.TO	CMVP.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.72	2.66	+0.06
Sortino ratio: Return per unit of downside risk	3.53	3.66	-0.13
Omega ratio: Gain probability vs. loss probability	1.56	1.49	+0.08
Calmar ratio: Return relative to maximum drawdown	5.46	3.62	+1.84
Martin ratio: Return relative to average drawdown	18.49	16.15	+2.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CDZ.TO vs. CMVP.TO - Sharpe Ratio Comparison

The current CDZ.TO Sharpe Ratio is 2.72, which is comparable to the CMVP.TO Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of CDZ.TO and CMVP.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

	CDZ.TO	CMVP.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.72	2.66	+0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.95	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	2.32	-1.80

Drawdowns

CDZ.TO vs. CMVP.TO - Drawdown Comparison

The maximum CDZ.TO drawdown since its inception was -49.33%, which is greater than CMVP.TO's maximum drawdown of -8.86%. Use the drawdown chart below to compare losses from any high point for CDZ.TO and CMVP.TO.

Drawdown Indicators

	CDZ.TO	CMVP.TO	Difference
Max Drawdown Largest peak-to-trough decline	-49.33%	-8.86%	-40.47%
Max Drawdown (1Y) Largest decline over 1 year	-4.11%	-7.14%	+3.03%
Max Drawdown (3Y) Largest decline over 3 years	-12.99%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-17.15%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-45.70%	—	—
Current Drawdown Current decline from peak	-0.09%	-1.42%	+1.33%
Average Drawdown Average peak-to-trough decline	-6.14%	-1.09%	-5.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.21%	1.60%	-0.39%

Volatility

CDZ.TO vs. CMVP.TO - Volatility Comparison

The current volatility for iShares S&P/TSX Canadian Dividend Aristocrats Index ETF (CDZ.TO) is 1.88%, while HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units (CMVP.TO) has a volatility of 3.00%. This indicates that CDZ.TO experiences smaller price fluctuations and is considered to be less risky than CMVP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CDZ.TO	CMVP.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.88%	3.00%	-1.12%
Volatility (6M) Calculated over the trailing 6-month period	6.91%	7.92%	-1.01%
Volatility (1Y) Calculated over the trailing 1-year period	8.26%	9.72%	-1.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.86%	11.08%	-0.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.63%	11.08%	+3.55%

CDZ.TO vs. CMVP.TO - Expense Ratio Comparison

CDZ.TO has a 0.66% expense ratio, which is higher than CMVP.TO's 0.00% expense ratio.

Dividends

CDZ.TO vs. CMVP.TO - Dividend Comparison

CDZ.TO's dividend yield for the trailing twelve months is around 3.07%, more than CMVP.TO's 2.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CDZ.TO iShares S&P/TSX Canadian Dividend Aristocrats Index ETF	3.07%	3.46%	3.56%	3.71%	3.67%	2.95%	3.70%	3.68%	4.37%	3.43%	3.51%	3.72%
CMVP.TO HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units	2.72%	2.70%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CDZ.TO and CMVP.TO in my portfolio?

CDZ.TO and CMVP.TO have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CDZ.TO or CMVP.TO?

On fees, CMVP.TO is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CDZ.TO or CMVP.TO?

CMVP.TO is cheaper with a 0.00% expense ratio, compared with 0.66% for CDZ.TO.

What is the main difference between CDZ.TO and CMVP.TO?

CDZ.TO tracks Morningstar Canada GR CAD, while CMVP.TO tracks Solactive Canada Dividend Elite Champions Index. They also come from different issuers: iShares and Hamilton Capital. Their fees differ too: 0.66% for CDZ.TO and 0.00% for CMVP.TO.