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FFDI vs. ZLD.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FFDI vs. ZLD.TO

Last updated Jul 14, 2026
Documentation

FFDI (Fidelity Fundamental Developed International ETF) and ZLD.TO (BMO Low Volatility International Equity Hedged to CAD ETF) are both Foreign Large Cap Equities funds. Over the past year, FFDI returned 10.75% vs 2.77% for ZLD.TO. At a 0.32 correlation, their price movements are largely independent. FFDI charges 0.55%/yr vs 0.40%/yr for ZLD.TO.

Performance

FFDI vs. ZLD.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Fundamental Developed International ETF (FFDI) and BMO Low Volatility International Equity Hedged to CAD ETF (ZLD.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

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

Returns By Period

In the year-to-date period, FFDI achieves a 6.62% return, which is significantly higher than ZLD.TO's 1.78% return.

FFDI

1D
-1.77%
1M
-1.07%
6M
2.63%
YTD
6.62%
1Y
10.75%
3Y*
—
5Y*
—
10Y*
—

ZLD.TO

1D
0.68%
1M
0.77%
6M
1.86%
YTD
1.78%
1Y
2.77%
3Y*
7.32%
5Y*
3.66%
10Y*
5.54%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FFDI vs. ZLD.TO - Yearly Performance Comparison

2026 (YTD)20252024
FFDI
Fidelity Fundamental Developed International ETF		6.62%26.66%-9.21%
ZLD.TO
BMO Low Volatility International Equity Hedged to CAD ETF		1.78%14.88%-0.83%

Correlation

The correlation between FFDI and ZLD.TO is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.33

Correlation (All Time)
Calculated using the full available price history since Nov 21, 2024

0.32

Compare stocks, funds, or ETFs

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

Fidelity Fundamental Developed International ETF

BMO Low Volatility International Equity Hedged to CAD ETF

Often compared with FFDI:
FFDI vs. FFGXFFDI vs. FENIFFDI vs. BUFIFFDI vs. EFAFFDI vs. CILFFDI vs. IDVOFFDI vs. TILV.TO
Often compared with ZLD.TO:
ZLD.TO vs. VIDY.TOZLD.TO vs. QDX.TOZLD.TO vs. ESGE.TOZLD.TO vs. ZMMK.TOZLD.TO vs. ZXM.TOZLD.TO vs. FLUR.NEOZLD.TO vs. FCIV.TO

Return for Risk

FFDI vs. ZLD.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FFDI
FFDI Risk / Return Rank: 2323
Overall Rank
FFDI Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
FFDI Sortino Ratio Rank: 2121
Sortino Ratio Rank
FFDI Omega Ratio Rank: 2121
Omega Ratio Rank
FFDI Calmar Ratio Rank: 2323
Calmar Ratio Rank
FFDI Martin Ratio Rank: 3030
Martin Ratio Rank
ZLD.TO
ZLD.TO Risk / Return Rank: 2424
Overall Rank
ZLD.TO Sharpe Ratio Rank: 2727
Sharpe Ratio Rank
ZLD.TO Sortino Ratio Rank: 2525
Sortino Ratio Rank
ZLD.TO Omega Ratio Rank: 2323
Omega Ratio Rank
ZLD.TO Calmar Ratio Rank: 2424
Calmar Ratio Rank
ZLD.TO Martin Ratio Rank: 2222
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.

FFDI vs. ZLD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Fundamental Developed International ETF (FFDI) and BMO Low Volatility International Equity Hedged to CAD ETF (ZLD.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.

FFDIZLD.TODifference
Sharpe ratioReturn per unit of total volatility
0.60
0.29

+0.31

Sortino ratioReturn per unit of downside risk
0.97
0.47

+0.50

Omega ratioGain probability vs. loss probability

1.12

1.05

+0.06

Calmar ratioReturn relative to maximum drawdown

0.91

0.31

+0.60

Martin ratioReturn relative to average drawdown

3.38

0.67

+2.71

FFDI vs. ZLD.TO - Sharpe Ratio Comparison

The current FFDI Sharpe Ratio is 0.60, which is higher than the ZLD.TO Sharpe Ratio of 0.29. The chart below compares the historical Sharpe Ratios of FFDI and ZLD.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

FFDI vs. ZLD.TO - Drawdown Comparison

The maximum FFDI drawdown since its inception was -14.39%, smaller than the maximum ZLD.TO drawdown of -35.14%. Use the drawdown chart below to compare losses from any high point for FFDI and ZLD.TO.

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Drawdown Indicators

FFDIZLD.TODifference

Max Drawdown

Largest peak-to-trough decline

-14.39%

-35.14%

+20.75%

Max Drawdown (1Y)

Largest decline over 1 year

-11.85%

-8.99%

-2.86%

Max Drawdown (3Y)

Largest decline over 3 years

—

-10.86%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-23.41%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-35.14%

—

Current Drawdown

Current decline from peak

-3.71%

-5.60%

+1.89%

Average Drawdown

Average peak-to-trough decline

-2.58%

-5.57%

+2.99%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.19%

4.14%

-0.95%

Volatility

FFDI vs. ZLD.TO - Volatility Comparison

Fidelity Fundamental Developed International ETF (FFDI) has a higher volatility of 6.26% compared to BMO Low Volatility International Equity Hedged to CAD ETF (ZLD.TO) at 2.52%. This indicates that FFDI's price experiences larger fluctuations and is considered to be riskier than ZLD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FFDIZLD.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.26%

2.52%

+3.74%

Volatility (6M)

Calculated over the trailing 6-month period

16.03%

7.28%

+8.75%

Volatility (1Y)

Calculated over the trailing 1-year period

18.00%

9.54%

+8.46%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.76%

12.46%

+7.30%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.76%

14.77%

+4.99%

FFDI vs. ZLD.TO - Expense Ratio Comparison

FFDI has a 0.55% expense ratio, which is higher than ZLD.TO's 0.40% expense ratio.

Dividends

FFDI vs. ZLD.TO - Dividend Comparison

FFDI's dividend yield for the trailing twelve months is around 2.03%, less than ZLD.TO's 2.20% yield.

PositionTTM2025202420232022202120202019201820172016
FFDI
Fidelity Fundamental Developed International ETF		2.03%2.16%0.39%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
ZLD.TO
BMO Low Volatility International Equity Hedged to CAD ETF		2.20%2.29%2.45%2.66%2.62%2.31%2.62%2.17%2.36%2.23%1.96%

Frequently Asked Questions

FFDI and ZLD.TO have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZLD.TO is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZLD.TO is cheaper with a 0.40% expense ratio, compared with 0.55% for FFDI.

They also come from different issuers: Fidelity and BMO. Their fees differ too: 0.55% for FFDI and 0.40% for ZLD.TO.

Portfolio Optimizer

Find the right allocation for FFDI and ZLD.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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