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HAZ.TO vs. ZDH.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HAZ.TO vs. ZDH.TO

Last updated Jun 17, 2026

HAZ.TO (Global X Active Global Dividend ETF) and ZDH.TO (BMO International Dividend Hedged to CAD ETF) are both Global Equity Income funds. Over the past 10 years, HAZ.TO returned 11.47%/yr vs 11.17%/yr for ZDH.TO. A 0.51 correlation means they provide meaningful diversification when combined.

Performance

HAZ.TO vs. ZDH.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Active Global Dividend ETF (HAZ.TO) and BMO International Dividend Hedged to CAD ETF (ZDH.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with HAZ.TO having a 12.12% return and ZDH.TO slightly lower at 12.08%. Both investments have delivered pretty close results over the past 10 years, with HAZ.TO having a 11.47% annualized return and ZDH.TO not far behind at 11.17%.

HAZ.TO

1D
-0.15%
1M
2.74%
YTD
12.12%
6M
11.57%
1Y
20.83%
3Y*
17.90%
5Y*
13.80%
10Y*
11.47%

ZDH.TO

1D
0.29%
1M
2.99%
YTD
12.08%
6M
14.35%
1Y
27.67%
3Y*
16.73%
5Y*
13.65%
10Y*
11.17%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HAZ.TO vs. ZDH.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HAZ.TO
Global X Active Global Dividend ETF		12.12%7.49%25.38%17.61%-8.86%27.34%7.50%15.27%-4.50%12.50%
ZDH.TO
BMO International Dividend Hedged to CAD ETF		12.08%22.25%10.75%17.44%3.43%19.87%-9.45%19.93%-9.14%13.04%

Correlation

The correlation between HAZ.TO and ZDH.TO is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.63

Correlation (3Y)
Calculated over the trailing 3-year period

0.57

Correlation (5Y)
Calculated over the trailing 5-year period

0.56

Correlation (10Y)
Calculated over the trailing 10-year period

0.52

Correlation (All Time)
Calculated using the full available price history since Sep 9, 2015

0.51

The correlation between HAZ.TO and ZDH.TO shifts across timeframes, from 0.51 (all time) to 0.63 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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

Global X Active Global Dividend ETF

BMO International Dividend Hedged to CAD ETF

Often compared with HAZ.TO:
HAZ.TO vs. PAYG.TOHAZ.TO vs. CASH.TOHAZ.TO vs. HXT.TOHAZ.TO vs. USCL.TOHAZ.TO vs. CHPS.TOHAZ.TO vs. HSAV.TOHAZ.TO vs. HXS.TO
Often compared with ZDH.TO:
ZDH.TO vs. ZDI.TOZDH.TO vs. ZMMK.TOZDH.TO vs. TGED.TOZDH.TO vs. ZEQT.TOZDH.TO vs. ZCN.TOZDH.TO vs. ZLB.TOZDH.TO vs. ZSP.TO

Return for Risk

HAZ.TO vs. ZDH.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HAZ.TO
HAZ.TO Risk / Return Rank: 7171
Overall Rank
HAZ.TO Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
HAZ.TO Sortino Ratio Rank: 7171
Sortino Ratio Rank
HAZ.TO Omega Ratio Rank: 6363
Omega Ratio Rank
HAZ.TO Calmar Ratio Rank: 8080
Calmar Ratio Rank
HAZ.TO Martin Ratio Rank: 7575
Martin Ratio Rank
ZDH.TO
ZDH.TO Risk / Return Rank: 7777
Overall Rank
ZDH.TO Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
ZDH.TO Sortino Ratio Rank: 8282
Sortino Ratio Rank
ZDH.TO Omega Ratio Rank: 8080
Omega Ratio Rank
ZDH.TO Calmar Ratio Rank: 6767
Calmar Ratio Rank
ZDH.TO Martin Ratio Rank: 7575
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.

HAZ.TO vs. ZDH.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Active Global Dividend ETF (HAZ.TO) and BMO International Dividend Hedged to CAD ETF (ZDH.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.

HAZ.TOZDH.TODifference
Sharpe ratioReturn per unit of total volatility
2.03
2.37

-0.35

Sortino ratioReturn per unit of downside risk
2.97
3.36

-0.39

Omega ratioGain probability vs. loss probability

1.35

1.44

-0.08

Calmar ratioReturn relative to maximum drawdown

3.82

3.12

+0.70

Martin ratioReturn relative to average drawdown

13.27

13.16

+0.11

HAZ.TO vs. ZDH.TO - Sharpe Ratio Comparison

The current HAZ.TO Sharpe Ratio is 2.03, which is comparable to the ZDH.TO Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of HAZ.TO and ZDH.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

HAZ.TO vs. ZDH.TO - Drawdown Comparison

The maximum HAZ.TO drawdown since its inception was -25.55%, smaller than the maximum ZDH.TO drawdown of -37.62%. Use the drawdown chart below to compare losses from any high point for HAZ.TO and ZDH.TO.

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Drawdown Indicators

HAZ.TOZDH.TODifference

Max Drawdown

Largest peak-to-trough decline

-25.55%

-37.62%

+12.07%

Max Drawdown (1Y)

Largest decline over 1 year

-5.48%

-8.92%

+3.44%

Max Drawdown (3Y)

Largest decline over 3 years

-14.09%

-13.74%

-0.35%

Max Drawdown (5Y)

Largest decline over 5 years

-18.07%

-13.74%

-4.33%

Max Drawdown (10Y)

Largest decline over 10 years

-25.55%

-37.62%

+12.07%

Current Drawdown

Current decline from peak

-0.15%

0.00%

-0.15%

Average Drawdown

Average peak-to-trough decline

-3.24%

-4.06%

+0.82%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.57%

2.12%

-0.55%

Volatility

HAZ.TO vs. ZDH.TO - Volatility Comparison

The current volatility for Global X Active Global Dividend ETF (HAZ.TO) is 2.90%, while BMO International Dividend Hedged to CAD ETF (ZDH.TO) has a volatility of 3.67%. This indicates that HAZ.TO experiences smaller price fluctuations and is considered to be less risky than ZDH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HAZ.TOZDH.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.90%

3.67%

-0.77%

Volatility (6M)

Calculated over the trailing 6-month period

7.74%

9.40%

-1.66%

Volatility (1Y)

Calculated over the trailing 1-year period

10.32%

11.71%

-1.39%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.16%

13.29%

-1.13%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.30%

16.43%

-2.13%

Dividends

HAZ.TO vs. ZDH.TO - Dividend Comparison

HAZ.TO's dividend yield for the trailing twelve months is around 1.30%, less than ZDH.TO's 2.73% yield.

PositionTTM20252024202320222021202020192018201720162015
HAZ.TO
Global X Active Global Dividend ETF		1.30%1.48%0.96%1.78%3.40%1.71%1.93%2.27%2.31%2.20%2.40%2.51%
ZDH.TO
BMO International Dividend Hedged to CAD ETF		2.73%3.09%4.03%4.25%4.06%3.72%5.35%4.88%5.37%4.43%4.38%1.67%

Frequently Asked Questions

HAZ.TO and ZDH.TO have a correlation of 0.63, 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: Global X and BMO.

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