HXDM.TO vs. ZDB.TO
HXDM.TO (Global X Intl Developed Markets Equity Index Corporate Class ETF) and ZDB.TO (BMO Discount Bond) are both exchange-traded funds - HXDM.TO is a International Equity fund tracking the Global X EAFE Futures Roll Index (Total Return), while ZDB.TO is a Canadian Government Bonds fund tracking the FTSE Canada Universe Discount Bond Index. Both are passively managed. Over the past 5 years, HXDM.TO returned 10.52%/yr vs 0.56%/yr for ZDB.TO. At a 0.10 correlation, their price movements are largely independent. HXDM.TO charges 0.20%/yr vs 0.10%/yr for ZDB.TO.
Performance
HXDM.TO vs. ZDB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HXDM.TO achieves a 9.69% return, which is significantly higher than ZDB.TO's 1.53% return.
HXDM.TO
- 1D
- -0.48%
- 1M
- 5.65%
- YTD
- 9.69%
- 6M
- 9.95%
- 1Y
- 21.59%
- 3Y*
- 16.62%
- 5Y*
- 10.52%
- 10Y*
- —
ZDB.TO
- 1D
- -0.13%
- 1M
- 1.48%
- YTD
- 1.53%
- 6M
- 0.70%
- 1Y
- 2.71%
- 3Y*
- 4.07%
- 5Y*
- 0.56%
- 10Y*
- 1.57%
HXDM.TO vs. ZDB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HXDM.TO Global X Intl Developed Markets Equity Index Corporate Class ETF | 9.69% | 24.06% | 11.07% | 15.09% | -8.78% | 10.16% | 4.59% | 15.19% | -7.21% | 5.87% |
ZDB.TO BMO Discount Bond | 1.53% | 2.03% | 4.26% | 6.69% | -11.99% | -2.77% | 9.50% | 6.74% | 1.33% | 2.20% |
Correlation
The correlation between HXDM.TO and ZDB.TO is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2017 | 0.10 |
Over the past year, HXDM.TO and ZDB.TO have become more correlated (0.42) than their long-term average of 0.10, meaning their price movements have been converging.
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Return for Risk
HXDM.TO vs. ZDB.TO — Risk / Return Rank
HXDM.TO
ZDB.TO
HXDM.TO vs. ZDB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Intl Developed Markets Equity Index Corporate Class ETF (HXDM.TO) and BMO Discount Bond (ZDB.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.
| HXDM.TO | ZDB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.83 | ||
| Sortino ratioReturn per unit of downside risk | +1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.11 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.90 | 0.97 | +0.93 |
| Martin ratioReturn relative to average drawdown | 7.36 | 2.23 | +5.13 |
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
| HXDM.TO | ZDB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.46 | 0.63 | +0.83 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.75 | 0.09 | +0.67 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.25 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.38 | +0.20 |
Drawdowns
HXDM.TO vs. ZDB.TO - Drawdown Comparison
The maximum HXDM.TO drawdown since its inception was -28.43%, which is greater than ZDB.TO's maximum drawdown of -18.09%. Use the drawdown chart below to compare losses from any high point for HXDM.TO and ZDB.TO.
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Drawdown Indicators
| HXDM.TO | ZDB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.43% | -18.09% | -10.34% |
Max Drawdown (1Y)Largest decline over 1 year | -11.40% | -2.79% | -8.61% |
Max Drawdown (3Y)Largest decline over 3 years | -14.65% | -5.07% | -9.58% |
Max Drawdown (5Y)Largest decline over 5 years | -23.87% | -16.25% | -7.62% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.09% | — |
Current DrawdownCurrent decline from peak | -2.03% | -1.45% | -0.58% |
Average DrawdownAverage peak-to-trough decline | -4.75% | -4.21% | -0.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.94% | 1.22% | +1.72% |
Volatility
HXDM.TO vs. ZDB.TO - Volatility Comparison
Global X Intl Developed Markets Equity Index Corporate Class ETF (HXDM.TO) has a higher volatility of 5.80% compared to BMO Discount Bond (ZDB.TO) at 1.55%. This indicates that HXDM.TO's price experiences larger fluctuations and is considered to be riskier than ZDB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HXDM.TO | ZDB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.80% | 1.55% | +4.25% |
Volatility (6M)Calculated over the trailing 6-month period | 12.54% | 3.32% | +9.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.92% | 4.34% | +10.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.07% | 6.52% | +7.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.42% | 6.40% | +9.02% |
HXDM.TO vs. ZDB.TO - Expense Ratio Comparison
HXDM.TO has a 0.20% expense ratio, which is higher than ZDB.TO's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
HXDM.TO vs. ZDB.TO - Dividend Comparison
HXDM.TO has not paid dividends to shareholders, while ZDB.TO's dividend yield for the trailing twelve months is around 2.00%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HXDM.TO Global X Intl Developed Markets Equity Index Corporate Class ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZDB.TO BMO Discount Bond | 2.00% | 2.28% | 2.38% | 2.42% | 2.52% | 2.16% | 2.06% | 2.20% | 2.07% | 2.06% | 1.95% | 1.99% |
Frequently Asked Questions
HXDM.TO and ZDB.TO have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZDB.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZDB.TO is cheaper with a 0.10% expense ratio, compared with 0.20% for HXDM.TO.
HXDM.TO is categorized as International Equity, while ZDB.TO is Canadian Government Bonds. HXDM.TO tracks Global X EAFE Futures Roll Index (Total Return), while ZDB.TO tracks FTSE Canada Universe Discount Bond Index. They also come from different issuers: Global X and BMO. Their fees differ too: 0.20% for HXDM.TO and 0.10% for ZDB.TO.
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