DXU.TO vs. ZDIV.TO

Last updated Jun 4, 2026

DXU.TO (Dynamic Active U.S. Dividend ETF) and ZDIV.TO (BMO MSCI Canada IMI High Dividend Yield Index ETF) are both Dividend funds. DXU.TO is actively managed, while ZDIV.TO is passively managed. At a 0.04 correlation, their price movements are largely independent. DXU.TO charges 0.75%/yr vs 0.09%/yr for ZDIV.TO.

Performance

DXU.TO vs. ZDIV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Dynamic Active U.S. Dividend ETF (DXU.TO) and BMO MSCI Canada IMI High Dividend Yield Index ETF (ZDIV.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DXU.TO

• 1D: 0.40%
• 1M: 14.78%
• YTD: 27.69%
• 6M: 24.84%
• 1Y: 44.54%
• 3Y*: 28.47%
• 5Y*: 14.84%
• 10Y*: —

ZDIV.TO

• 1D: -0.14%
• 1M: 2.47%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DXU.TO vs. ZDIV.TO - Yearly Performance Comparison

	2026 (YTD)
DXU.TO Dynamic Active U.S. Dividend ETF	22.90%
ZDIV.TO BMO MSCI Canada IMI High Dividend Yield Index ETF	15.21%

Correlation

The correlation between DXU.TO and ZDIV.TO is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 9, 2026	0.04

Return for Risk

DXU.TO vs. ZDIV.TO — Risk / Return Rank

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

DXU.TO

DXU.TO Risk / Return Rank: 78
DXU.TO Sharpe Ratio Rank: 76
DXU.TO Sortino Ratio Rank: 72
DXU.TO Omega Ratio Rank: 76
DXU.TO Calmar Ratio Rank: 87
DXU.TO Martin Ratio Rank: 79

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.

DXU.TO vs. ZDIV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dynamic Active U.S. Dividend ETF (DXU.TO) and BMO MSCI Canada IMI High Dividend Yield Index ETF (ZDIV.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.

	DXU.TO	ZDIV.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.46	—	—
Sortino ratio: Return per unit of downside risk	3.24	—	—
Omega ratio: Gain probability vs. loss probability	1.45	—	—
Calmar ratio: Return relative to maximum drawdown	4.89	—	—
Martin ratio: Return relative to average drawdown	15.14	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	DXU.TO	ZDIV.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.46	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	5.66	-4.79

Drawdowns

DXU.TO vs. ZDIV.TO - Drawdown Comparison

The maximum DXU.TO drawdown since its inception was -27.05%, which is greater than ZDIV.TO's maximum drawdown of -2.60%. Use the drawdown chart below to compare losses from any high point for DXU.TO and ZDIV.TO.

Drawdown Indicators

	DXU.TO	ZDIV.TO	Difference
Max Drawdown Largest peak-to-trough decline	-27.05%	-2.60%	-24.45%
Max Drawdown (1Y) Largest decline over 1 year	-9.15%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-23.80%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.83%	—	—
Current Drawdown Current decline from peak	0.00%	-1.02%	+1.02%
Average Drawdown Average peak-to-trough decline	-6.47%	-0.49%	-5.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	—	—

Volatility

Volatility by Period

	DXU.TO	ZDIV.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.83%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.07%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.19%	9.99%	+8.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.16%	9.99%	+8.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.34%	9.99%	+9.35%

DXU.TO vs. ZDIV.TO - Expense Ratio Comparison

DXU.TO has a 0.75% expense ratio, which is higher than ZDIV.TO's 0.09% expense ratio.

Dividends

DXU.TO vs. ZDIV.TO - Dividend Comparison

DXU.TO has not paid dividends to shareholders, while ZDIV.TO's dividend yield for the trailing twelve months is around 0.90%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DXU.TO Dynamic Active U.S. Dividend ETF	0.00%	0.00%	0.00%	0.00%	0.22%	0.00%	0.00%	0.00%	0.00%	0.10%
ZDIV.TO BMO MSCI Canada IMI High Dividend Yield Index ETF	0.90%	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 DXU.TO and ZDIV.TO in my portfolio?

DXU.TO and ZDIV.TO have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DXU.TO or ZDIV.TO?

On fees, ZDIV.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DXU.TO or ZDIV.TO?

ZDIV.TO is cheaper with a 0.09% expense ratio, compared with 0.75% for DXU.TO.

What is the main difference between DXU.TO and ZDIV.TO?

They also come from different issuers: Dynamic and BMO. Their fees differ too: 0.75% for DXU.TO and 0.09% for ZDIV.TO.