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

DRMD.TO vs. ZEA.TO

Last updated Jul 16, 2026
Documentation

DRMD.TO (Desjardins RI Developed ex-USA ex-Canada - Net-Zero Emissions Pathway ETF) and ZEA.TO (BMO MSCI EAFE Index ETF) are both Foreign Large Cap Equities funds. DRMD.TO is actively managed, while ZEA.TO is passively managed. Over the past 5 years, DRMD.TO returned 11.35%/yr vs 11.50%/yr for ZEA.TO. At a 0.40 correlation, their price movements are largely independent.

Performance

DRMD.TO vs. ZEA.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Desjardins RI Developed ex-USA ex-Canada - Net-Zero Emissions Pathway ETF (DRMD.TO) and BMO MSCI EAFE Index ETF (ZEA.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, DRMD.TO achieves a 12.40% return, which is significantly lower than ZEA.TO's 13.25% return.

DRMD.TO

1D
0.11%
1M
0.89%
6M
7.82%
YTD
12.40%
1Y
24.44%
3Y*
19.73%
5Y*
11.35%
10Y*
—

ZEA.TO

1D
0.48%
1M
0.92%
6M
8.17%
YTD
13.25%
1Y
25.13%
3Y*
17.97%
5Y*
11.50%
10Y*
10.27%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020
DRMD.TO
Desjardins RI Developed ex-USA ex-Canada - Net-Zero Emissions Pathway ETF		12.40%27.57%11.54%13.94%-8.20%9.85%20.29%
ZEA.TO
BMO MSCI EAFE Index ETF		13.25%24.92%11.58%16.04%-8.50%10.66%18.13%

Correlation

The correlation between DRMD.TO and ZEA.TO is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.81

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

0.61

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

0.43

Correlation (All Time)
Calculated using the full available price history since Apr 30, 2020

0.40

Over the past year, DRMD.TO and ZEA.TO have become more correlated (0.81) than their long-term average of 0.40, meaning their price movements have been converging.

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Desjardins RI Developed ex-USA ex-Canada - Net-Zero Emissions Pathway ETF

BMO MSCI EAFE Index ETF

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. ZSP.TOZEA.TO vs. VDU.TO

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DRMD.TO
DRMD.TO Risk / Return Rank: 6363
Overall Rank
DRMD.TO Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
DRMD.TO Sortino Ratio Rank: 6868
Sortino Ratio Rank
DRMD.TO Omega Ratio Rank: 6767
Omega Ratio Rank
DRMD.TO Calmar Ratio Rank: 5151
Calmar Ratio Rank
DRMD.TO Martin Ratio Rank: 5959
Martin Ratio Rank
ZEA.TO
ZEA.TO Risk / Return Rank: 6464
Overall Rank
ZEA.TO Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
ZEA.TO Sortino Ratio Rank: 6666
Sortino Ratio Rank
ZEA.TO Omega Ratio Rank: 6767
Omega Ratio Rank
ZEA.TO Calmar Ratio Rank: 5757
Calmar Ratio Rank
ZEA.TO Martin Ratio Rank: 6262
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.

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

This table presents a comparison of risk-adjusted performance metrics for Desjardins RI Developed ex-USA ex-Canada - Net-Zero Emissions Pathway ETF (DRMD.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.

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.

DRMD.TOZEA.TODifference
Sharpe ratioReturn per unit of total volatility
1.80
1.73

+0.07

Sortino ratioReturn per unit of downside risk
2.51
2.45

+0.06

Omega ratioGain probability vs. loss probability

1.32

1.32

0.00

Calmar ratioReturn relative to maximum drawdown

2.11

2.31

-0.21

Martin ratioReturn relative to average drawdown

8.44

8.87

-0.43

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

The current DRMD.TO Sharpe Ratio is 1.80, which is comparable to the ZEA.TO Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of DRMD.TO and ZEA.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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Drawdowns

DRMD.TO vs. ZEA.TO - Drawdown Comparison

The maximum DRMD.TO drawdown since its inception was -23.39%, smaller than the maximum ZEA.TO drawdown of -27.80%. Use the drawdown chart below to compare losses from any high point for DRMD.TO and ZEA.TO.

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Drawdown Indicators

DRMD.TOZEA.TODifference

Max Drawdown

Largest peak-to-trough decline

-23.39%

-27.80%

+4.41%

Max Drawdown (1Y)

Largest decline over 1 year

-11.65%

-10.91%

-0.74%

Max Drawdown (3Y)

Largest decline over 3 years

-14.40%

-14.11%

-0.29%

Max Drawdown (5Y)

Largest decline over 5 years

-23.39%

-23.66%

+0.27%

Max Drawdown (10Y)

Largest decline over 10 years

—

-27.80%

—

Current Drawdown

Current decline from peak

-2.32%

-1.93%

-0.39%

Average Drawdown

Average peak-to-trough decline

-4.02%

-4.59%

+0.57%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.90%

2.84%

+0.06%

Volatility

DRMD.TO vs. ZEA.TO - Volatility Comparison

The current volatility for Desjardins RI Developed ex-USA ex-Canada - Net-Zero Emissions Pathway ETF (DRMD.TO) is 3.24%, while BMO MSCI EAFE Index ETF (ZEA.TO) has a volatility of 3.48%. This indicates that DRMD.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

DRMD.TOZEA.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.24%

3.48%

-0.24%

Volatility (6M)

Calculated over the trailing 6-month period

11.24%

12.52%

-1.28%

Volatility (1Y)

Calculated over the trailing 1-year period

13.66%

14.61%

-0.95%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.87%

13.66%

+0.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.88%

14.71%

-0.83%

Dividends

DRMD.TO vs. ZEA.TO - Dividend Comparison

DRMD.TO has not paid dividends to shareholders, while ZEA.TO's dividend yield for the trailing twelve months is around 1.91%.

PositionTTM20252024202320222021202020192018201720162015
DRMD.TO
Desjardins RI Developed ex-USA ex-Canada - Net-Zero Emissions Pathway ETF		0.00%0.00%12.27%1.86%2.45%2.04%1.64%0.00%0.00%0.00%0.00%0.00%
ZEA.TO
BMO MSCI EAFE Index ETF		1.91%2.17%2.78%3.02%3.08%2.49%2.74%2.95%3.05%2.40%2.80%2.43%

Frequently Asked Questions

DRMD.TO and ZEA.TO have a correlation of 0.81, 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: Desjardins and BMO.

Portfolio Optimizer

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