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CDZ.TO vs. SCHD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CDZ.TO vs. SCHD

Last updated Jun 4, 2026

CDZ.TO (iShares S&P/TSX Canadian Dividend Aristocrats Index ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - CDZ.TO is a Canada Equities fund tracking the Morningstar Canada GR CAD, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. Both are passively managed. Over the past 10 years, CDZ.TO returned 9.44%/yr vs 13.54%/yr for SCHD. At a 0.49 correlation, their price movements are largely independent. CDZ.TO charges 0.66%/yr vs 0.06%/yr for SCHD.

Performance

CDZ.TO vs. SCHD - 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 Schwab U.S. Dividend Equity ETF (SCHD). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

CDZ.TO is traded in CAD, while SCHD is traded in USD. To make them comparable, the SCHD values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, CDZ.TO achieves a 13.46% return, which is significantly lower than SCHD's 20.03% return. Over the past 10 years, CDZ.TO has underperformed SCHD with an annualized return of 9.44%, while SCHD has yielded a comparatively higher 13.54% annualized 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%

SCHD

1D
0.00%
1M
4.32%
YTD
20.03%
6M
17.69%
1Y
28.28%
3Y*
16.27%
5Y*
11.36%
10Y*
13.54%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CDZ.TO vs. SCHD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CDZ.TO
iShares S&P/TSX Canadian Dividend Aristocrats Index ETF		13.46%13.45%17.86%8.98%-4.43%22.80%-3.27%25.68%-8.84%4.92%
SCHD
Schwab U.S. Dividend Equity ETF		20.52%-0.44%21.25%2.24%3.64%28.70%13.08%21.03%2.45%13.15%

Correlation

The correlation between CDZ.TO and SCHD is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.47

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

0.52

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

0.54

Correlation (10Y)
Calculated over the trailing 10-year period

0.53

Correlation (All Time)
Calculated using the full available price history since Oct 21, 2011

0.49

The correlation between CDZ.TO and SCHD has been stable across timeframes, ranging from 0.47 to 0.54 - a consistent structural relationship.

CDZ.TO vs. SCHD - Sectors Allocation Comparison

Sectors
CDZ.TO
SCHD

Energy

22.7%
16.2%

Financial Services

17.1%
9.3%

Industrials

14.5%
7.5%

Utilities

9.0%
0.0%

Real Estate

8.9%

-

Consumer Cyclical

7.6%
6.3%

Communication Services

7.5%
6.3%

Consumer Defensive

6.7%
19.2%

Basic Materials

3.3%
1.2%

Technology

2.7%
16.4%

Healthcare

-

18.8%

Energy

CDZ.TO
22.7%
SCHD
16.2%

Financial Services

CDZ.TO
17.1%
SCHD
9.3%

Industrials

CDZ.TO
14.5%
SCHD
7.5%

Utilities

CDZ.TO
9.0%
SCHD
0.0%

Real Estate

CDZ.TO
8.9%
SCHD

-

Consumer Cyclical

CDZ.TO
7.6%
SCHD
6.3%

Communication Services

CDZ.TO
7.5%
SCHD
6.3%

Consumer Defensive

CDZ.TO
6.7%
SCHD
19.2%

Basic Materials

CDZ.TO
3.3%
SCHD
1.2%

Technology

CDZ.TO
2.7%
SCHD
16.4%

Healthcare

CDZ.TO

-

SCHD
18.8%

Compare stocks, funds, or ETFs

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

iShares S&P/TSX Canadian Dividend Aristocrats Index ETF

Schwab U.S. Dividend Equity ETF

Often compared with CDZ.TO:
CDZ.TO vs. VDY.TOCDZ.TO vs. XDIV.TOCDZ.TO vs. XEI.TOCDZ.TO vs. XDV.TOCDZ.TO vs. XEQT.TOCDZ.TO vs. CUD.TOCDZ.TO vs. VEQT.TO
Often compared with SCHD:
SCHD vs. VOOSCHD vs. VYMSCHD vs. SPYSCHD vs. SCHGSCHD vs. JEPISCHD vs. FDVVSCHD vs. VIG

Return for Risk

CDZ.TO vs. SCHD — 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: 8484
Overall Rank
CDZ.TO Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
CDZ.TO Sortino Ratio Rank: 7777
Sortino Ratio Rank
CDZ.TO Omega Ratio Rank: 8888
Omega Ratio Rank
CDZ.TO Calmar Ratio Rank: 8989
Calmar Ratio Rank
CDZ.TO Martin Ratio Rank: 8686
Martin Ratio Rank
SCHD
SCHD Risk / Return Rank: 8080
Overall Rank
SCHD Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
SCHD Sortino Ratio Rank: 8484
Sortino Ratio Rank
SCHD Omega Ratio Rank: 7373
Omega Ratio Rank
SCHD Calmar Ratio Rank: 9191
Calmar Ratio Rank
SCHD Martin Ratio Rank: 7575
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.

CDZ.TO vs. SCHD - 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 Schwab U.S. Dividend Equity ETF (SCHD). 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.TOSCHDDifference
Sharpe ratioReturn per unit of total volatility
2.72
2.57

+0.15

Sortino ratioReturn per unit of downside risk
3.53
3.98

-0.45

Omega ratioGain probability vs. loss probability

1.56

1.47

+0.10

Calmar ratioReturn relative to maximum drawdown

5.46

6.61

-1.15

Martin ratioReturn relative to average drawdown

18.49

19.13

-0.64

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. SCHD - Sharpe Ratio Comparison

The current CDZ.TO Sharpe Ratio is 2.72, which is comparable to the SCHD Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of CDZ.TO and SCHD, 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

CDZ.TOSCHDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.72

2.57

+0.15

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.95

0.90

+0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.65

0.90

-0.25

Sharpe Ratio (All Time)

Calculated using the full available price history

0.52

1.12

-0.60

Drawdowns

CDZ.TO vs. SCHD - Drawdown Comparison

The maximum CDZ.TO drawdown since its inception was -49.33%, which is greater than SCHD's maximum drawdown of -26.93%. Use the drawdown chart below to compare losses from any high point for CDZ.TO and SCHD.

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Drawdown Indicators

CDZ.TOSCHDDifference

Max Drawdown

Largest peak-to-trough decline

-49.33%

-26.93%

-22.40%

Max Drawdown (1Y)

Largest decline over 1 year

-4.11%

-4.30%

+0.19%

Max Drawdown (3Y)

Largest decline over 3 years

-12.99%

-15.30%

+2.31%

Max Drawdown (5Y)

Largest decline over 5 years

-17.15%

-15.30%

-1.85%

Max Drawdown (10Y)

Largest decline over 10 years

-45.70%

-26.93%

-18.77%

Current Drawdown

Current decline from peak

-0.09%

-1.22%

+1.13%

Average Drawdown

Average peak-to-trough decline

-6.14%

-2.86%

-3.28%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.21%

1.48%

-0.27%

Volatility

CDZ.TO vs. SCHD - Volatility Comparison

The current volatility for iShares S&P/TSX Canadian Dividend Aristocrats Index ETF (CDZ.TO) is 1.88%, while Schwab U.S. Dividend Equity ETF (SCHD) has a volatility of 2.63%. This indicates that CDZ.TO experiences smaller price fluctuations and is considered to be less risky than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CDZ.TOSCHDDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.88%

2.63%

-0.75%

Volatility (6M)

Calculated over the trailing 6-month period

6.91%

8.23%

-1.32%

Volatility (1Y)

Calculated over the trailing 1-year period

8.26%

11.10%

-2.84%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.86%

12.63%

-1.77%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.63%

15.18%

-0.55%

CDZ.TO vs. SCHD - Expense Ratio Comparison

CDZ.TO has a 0.66% expense ratio, which is higher than SCHD's 0.06% expense ratio.

Dividends

CDZ.TO vs. SCHD - Dividend Comparison

CDZ.TO's dividend yield for the trailing twelve months is around 3.07%, less than SCHD's 3.26% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
SCHD
Schwab U.S. Dividend Equity ETF		3.26%3.82%3.64%3.49%3.39%2.78%3.16%2.98%3.06%2.63%2.89%2.97%

Frequently Asked Questions

CDZ.TO and SCHD have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SCHD is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SCHD is cheaper with a 0.06% expense ratio, compared with 0.66% for CDZ.TO.

CDZ.TO is categorized as Canada Equities, while SCHD is Dividend. CDZ.TO tracks Morningstar Canada GR CAD, while SCHD tracks Dow Jones U.S. Dividend 100 Index. They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.66% for CDZ.TO and 0.06% for SCHD.

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