FXM.TO vs. ZDV.TO
Compare and contrast key facts about CI Morningstar Canada Value Index ETF (FXM.TO) and BMO Canadian Dividend ETF (ZDV.TO).
FXM.TO and ZDV.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FXM.TO is a passively managed fund by CI Investments that tracks the performance of the Morningstar Canada Target Value Index. It was launched on Feb 13, 2012. ZDV.TO is an actively managed fund by BMO. It was launched on Oct 21, 2011.
Performance
FXM.TO vs. ZDV.TO - Performance Comparison
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FXM.TO vs. ZDV.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXM.TO CI Morningstar Canada Value Index ETF | 8.97% | 38.54% | 30.05% | 5.79% | -1.19% | 31.47% | 6.15% | 24.14% | -16.22% | 11.51% |
ZDV.TO BMO Canadian Dividend ETF | 10.62% | 20.17% | 16.52% | 7.83% | -1.93% | 28.40% | -3.84% | 22.34% | -10.95% | 7.38% |
Returns By Period
In the year-to-date period, FXM.TO achieves a 8.97% return, which is significantly lower than ZDV.TO's 10.62% return. Over the past 10 years, FXM.TO has outperformed ZDV.TO with an annualized return of 14.20%, while ZDV.TO has yielded a comparatively lower 10.77% annualized return.
FXM.TO
- 1D
- 1.19%
- 1M
- -3.54%
- YTD
- 8.97%
- 6M
- 20.63%
- 1Y
- 50.77%
- 3Y*
- 26.11%
- 5Y*
- 18.45%
- 10Y*
- 14.20%
ZDV.TO
- 1D
- 1.59%
- 1M
- -1.16%
- YTD
- 10.62%
- 6M
- 9.99%
- 1Y
- 27.72%
- 3Y*
- 17.29%
- 5Y*
- 13.61%
- 10Y*
- 10.77%
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FXM.TO vs. ZDV.TO - Expense Ratio Comparison
FXM.TO has a 0.64% expense ratio, which is higher than ZDV.TO's 0.39% expense ratio.
Return for Risk
FXM.TO vs. ZDV.TO — Risk / Return Rank
FXM.TO
ZDV.TO
FXM.TO vs. ZDV.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Morningstar Canada Value Index ETF (FXM.TO) and BMO Canadian Dividend ETF (ZDV.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.
| FXM.TO | ZDV.TO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.42 | 2.25 | +1.16 |
Sortino ratioReturn per unit of downside risk | 4.07 | 2.61 | +1.46 |
Omega ratioGain probability vs. loss probability | 1.70 | 1.52 | +0.18 |
Calmar ratioReturn relative to maximum drawdown | 4.52 | 3.19 | +1.33 |
Martin ratioReturn relative to average drawdown | 20.67 | 13.36 | +7.31 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FXM.TO | ZDV.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.42 | 2.25 | +1.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.30 | 1.26 | +0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.84 | 0.72 | +0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.80 | 0.65 | +0.15 |
Correlation
The correlation between FXM.TO and ZDV.TO is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FXM.TO vs. ZDV.TO - Dividend Comparison
FXM.TO's dividend yield for the trailing twelve months is around 1.93%, less than ZDV.TO's 2.83% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXM.TO CI Morningstar Canada Value Index ETF | 1.93% | 1.91% | 2.17% | 2.96% | 2.18% | 2.19% | 2.40% | 2.03% | 2.52% | 1.70% | 1.83% | 2.24% |
ZDV.TO BMO Canadian Dividend ETF | 2.83% | 3.07% | 3.57% | 4.10% | 4.10% | 3.63% | 4.48% | 4.11% | 5.06% | 3.96% | 3.84% | 4.63% |
Drawdowns
FXM.TO vs. ZDV.TO - Drawdown Comparison
The maximum FXM.TO drawdown since its inception was -46.41%, which is greater than ZDV.TO's maximum drawdown of -43.21%. Use the drawdown chart below to compare losses from any high point for FXM.TO and ZDV.TO.
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Drawdown Indicators
| FXM.TO | ZDV.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.41% | -43.21% | -3.20% |
Max Drawdown (1Y)Largest decline over 1 year | -11.48% | -9.04% | -2.44% |
Max Drawdown (5Y)Largest decline over 5 years | -16.08% | -16.72% | +0.64% |
Max Drawdown (10Y)Largest decline over 10 years | -46.41% | -43.21% | -3.20% |
Current DrawdownCurrent decline from peak | -4.31% | -1.71% | -2.60% |
Average DrawdownAverage peak-to-trough decline | -4.72% | -5.18% | +0.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 2.16% | +0.35% |
Volatility
FXM.TO vs. ZDV.TO - Volatility Comparison
CI Morningstar Canada Value Index ETF (FXM.TO) has a higher volatility of 4.37% compared to BMO Canadian Dividend ETF (ZDV.TO) at 4.14%. This indicates that FXM.TO's price experiences larger fluctuations and is considered to be riskier than ZDV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXM.TO | ZDV.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.37% | 4.14% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 9.87% | 9.73% | +0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.95% | 12.39% | +2.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.29% | 10.90% | +3.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.05% | 15.11% | +1.94% |