FIH-U.TO vs. ZID.TO

Last updated Jun 4, 2026

FIH-U.TO (Fairfax India Holdings Corporation) is a stock, while ZID.TO (BMO MSCI India ESG Leaders Index ETF) is Asia Pacific Equities fund tracking the MSCI India ESG Leaders Index. Over the past 10 years, FIH-U.TO returned 5.48%/yr vs 8.03%/yr for ZID.TO. At a 0.17 correlation, their price movements are largely independent.

Performance

FIH-U.TO vs. ZID.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fairfax India Holdings Corporation (FIH-U.TO) and BMO MSCI India ESG Leaders Index ETF (ZID.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, FIH-U.TO achieves a 3.53% return, which is significantly higher than ZID.TO's -19.19% return. Over the past 10 years, FIH-U.TO has underperformed ZID.TO with an annualized return of 5.48%, while ZID.TO has yielded a comparatively higher 8.03% annualized return.

FIH-U.TO

• 1D: -1.10%
• 1M: 0.28%
• YTD: 3.53%
• 6M: 8.29%
• 1Y: -0.17%
• 3Y*: 10.52%
• 5Y*: 6.74%
• 10Y*: 5.48%

ZID.TO

• 1D: -1.35%
• 1M: -3.77%
• YTD: -19.19%
• 6M: -18.88%
• 1Y: -18.19%
• 3Y*: 1.72%
• 5Y*: -0.04%
• 10Y*: 8.03%

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

FIH-U.TO vs. ZID.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIH-U.TO Fairfax India Holdings Corporation	3.53%	8.00%	5.33%	23.78%	-2.62%	31.35%	-25.00%	-2.51%	-12.47%	29.87%
ZID.TO BMO MSCI India ESG Leaders Index ETF	-19.19%	4.09%	9.72%	14.44%	-11.09%	26.47%	18.10%	12.73%	-0.21%	43.47%

Correlation

The correlation between FIH-U.TO and ZID.TO is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (10Y) Calculated over the trailing 10-year period	0.18
Correlation (All Time) Calculated using the full available price history since Feb 2, 2015	0.17

Return for Risk

FIH-U.TO vs. ZID.TO — Risk / Return Rank

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

FIH-U.TO

FIH-U.TO Risk / Return Rank: 38
FIH-U.TO Sharpe Ratio Rank: 41
FIH-U.TO Sortino Ratio Rank: 36
FIH-U.TO Omega Ratio Rank: 35
FIH-U.TO Calmar Ratio Rank: 41
FIH-U.TO Martin Ratio Rank: 40

ZID.TO

ZID.TO Risk / Return Rank: 2
ZID.TO Sharpe Ratio Rank: 1
ZID.TO Sortino Ratio Rank: 2
ZID.TO Omega Ratio Rank: 2
ZID.TO Calmar Ratio Rank: 3
ZID.TO Martin Ratio Rank: 1

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.

FIH-U.TO vs. ZID.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fairfax India Holdings Corporation (FIH-U.TO) and BMO MSCI India ESG Leaders Index ETF (ZID.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.

	FIH-U.TO	ZID.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.01	-1.08	+1.07
Sortino ratio: Return per unit of downside risk	0.23	-1.53	+1.76
Omega ratio: Gain probability vs. loss probability	1.03	0.83	+0.20
Calmar ratio: Return relative to maximum drawdown	-0.01	-0.76	+0.75
Martin ratio: Return relative to average drawdown	-0.01	-1.71	+1.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIH-U.TO vs. ZID.TO - Sharpe Ratio Comparison

The current FIH-U.TO Sharpe Ratio is -0.01, which is higher than the ZID.TO Sharpe Ratio of -1.08. The chart below compares the historical Sharpe Ratios of FIH-U.TO and ZID.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.

Sharpe Ratios by Period

	FIH-U.TO	ZID.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.01	-1.08	+1.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	-0.00	+0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.15	0.38	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.24	-0.09

Drawdowns

FIH-U.TO vs. ZID.TO - Drawdown Comparison

The maximum FIH-U.TO drawdown since its inception was -70.80%, which is greater than ZID.TO's maximum drawdown of -50.02%. Use the drawdown chart below to compare losses from any high point for FIH-U.TO and ZID.TO.

Drawdown Indicators

	FIH-U.TO	ZID.TO	Difference
Max Drawdown Largest peak-to-trough decline	-70.80%	-50.02%	-20.78%
Max Drawdown (1Y) Largest decline over 1 year	-21.72%	-23.96%	+2.24%
Max Drawdown (3Y) Largest decline over 3 years	-24.48%	-29.45%	+4.97%
Max Drawdown (5Y) Largest decline over 5 years	-37.37%	-29.45%	-7.92%
Max Drawdown (10Y) Largest decline over 10 years	-70.80%	-50.02%	-20.78%
Current Drawdown Current decline from peak	-11.03%	-27.89%	+16.86%
Average Drawdown Average peak-to-trough decline	-24.23%	-13.57%	-10.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.59%	10.66%	+1.93%

Volatility

FIH-U.TO vs. ZID.TO - Volatility Comparison

Fairfax India Holdings Corporation (FIH-U.TO) has a higher volatility of 10.04% compared to BMO MSCI India ESG Leaders Index ETF (ZID.TO) at 6.14%. This indicates that FIH-U.TO's price experiences larger fluctuations and is considered to be riskier than ZID.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIH-U.TO	ZID.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.04%	6.14%	+3.90%
Volatility (6M) Calculated over the trailing 6-month period	24.98%	14.38%	+10.60%
Volatility (1Y) Calculated over the trailing 1-year period	33.10%	16.92%	+16.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.35%	17.26%	+15.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.80%	21.45%	+14.35%

Dividends

FIH-U.TO vs. ZID.TO - Dividend Comparison

FIH-U.TO has not paid dividends to shareholders, while ZID.TO's dividend yield for the trailing twelve months is around 0.84%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIH-U.TO Fairfax India Holdings Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ZID.TO BMO MSCI India ESG Leaders Index ETF	0.84%	0.69%	0.28%	1.18%	0.29%	1.24%	0.11%	0.11%	0.74%	0.38%	1.15%	0.64%

Frequently Asked Questions

Can I hold both FIH-U.TO and ZID.TO in my portfolio?

FIH-U.TO and ZID.TO have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.