DXW.TO vs. ZDI.TO
DXW.TO (Dynamic Active International Dividend ETF) and ZDI.TO (BMO International Dividend ETF) are both International Equity funds. Both are actively managed. Over the past 5 years, DXW.TO returned 4.87%/yr vs 12.57%/yr for ZDI.TO. At a 0.39 correlation, their price movements are largely independent.
Performance
DXW.TO vs. ZDI.TO - Performance Comparison
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Returns By Period
In the year-to-date period, DXW.TO achieves a 10.24% return, which is significantly lower than ZDI.TO's 14.64% return.
DXW.TO
- 1D
- -0.32%
- 1M
- 2.39%
- 6M
- 6.33%
- YTD
- 10.24%
- 1Y
- 18.54%
- 3Y*
- 12.00%
- 5Y*
- 4.87%
- 10Y*
- —
ZDI.TO
- 1D
- 0.53%
- 1M
- 1.33%
- 6M
- 9.98%
- YTD
- 14.64%
- 1Y
- 23.10%
- 3Y*
- 16.63%
- 5Y*
- 12.57%
- 10Y*
- 9.49%
DXW.TO vs. ZDI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DXW.TO Dynamic Active International Dividend ETF | 10.24% | 20.35% | 0.97% | 15.88% | -18.80% | 9.57% | 16.97% |
ZDI.TO BMO International Dividend ETF | 14.64% | 19.42% | 10.59% | 17.04% | 0.31% | 12.86% | -6.27% |
Correlation
The correlation between DXW.TO and ZDI.TO is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2020 | 0.39 |
Over the past year, the correlation between DXW.TO and ZDI.TO has dropped to 0.17 - well below their long-term average of 0.39, suggesting their price drivers have been diverging.
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Return for Risk
DXW.TO vs. ZDI.TO — Risk / Return Rank
DXW.TO
ZDI.TO
DXW.TO vs. ZDI.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dynamic Active International Dividend ETF (DXW.TO) and BMO International Dividend ETF (ZDI.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.
| DXW.TO | ZDI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.31 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 2.27 | -0.45 |
| Martin ratioReturn relative to average drawdown | 6.16 | 8.41 | -2.25 |
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Drawdowns
DXW.TO vs. ZDI.TO - Drawdown Comparison
The maximum DXW.TO drawdown since its inception was -30.99%, smaller than the maximum ZDI.TO drawdown of -33.87%. Use the drawdown chart below to compare losses from any high point for DXW.TO and ZDI.TO.
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Drawdown Indicators
| DXW.TO | ZDI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.99% | -33.87% | +2.88% |
Max Drawdown (1Y)Largest decline over 1 year | -10.23% | -10.23% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -14.39% | -14.13% | -0.26% |
Max Drawdown (5Y)Largest decline over 5 years | -30.99% | -18.96% | -12.03% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.87% | — |
Current DrawdownCurrent decline from peak | -1.36% | -0.56% | -0.80% |
Average DrawdownAverage peak-to-trough decline | -7.52% | -4.83% | -2.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 2.75% | +0.27% |
Volatility
DXW.TO vs. ZDI.TO - Volatility Comparison
Dynamic Active International Dividend ETF (DXW.TO) has a higher volatility of 3.79% compared to BMO International Dividend ETF (ZDI.TO) at 3.12%. This indicates that DXW.TO's price experiences larger fluctuations and is considered to be riskier than ZDI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DXW.TO | ZDI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.79% | 3.12% | +0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 12.09% | 11.27% | +0.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.39% | 14.04% | +0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.41% | 13.28% | +1.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.82% | 15.58% | +1.24% |
Dividends
DXW.TO vs. ZDI.TO - Dividend Comparison
DXW.TO's dividend yield for the trailing twelve months is around 1.58%, less than ZDI.TO's 3.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DXW.TO Dynamic Active International Dividend ETF | 1.58% | 2.38% | 2.21% | 1.94% | 2.36% | 1.35% | 0.97% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZDI.TO BMO International Dividend ETF | 3.00% | 3.41% | 3.94% | 4.15% | 3.99% | 3.72% | 4.96% | 4.92% | 5.23% | 4.23% | 4.62% | 4.27% |
Frequently Asked Questions
DXW.TO and ZDI.TO have a correlation of 0.17, 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: Dynamic and BMO.
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