HXDM.TO vs. ZDM.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Global X Intl Developed Markets Equity Index Corporate Class ETF (HXDM.TO) and BMO MSCI EAFE Hedged to CAD Index ETF (ZDM.TO).

HXDM.TO and ZDM.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HXDM.TO is a passively managed fund by Global X that tracks the performance of the Global X EAFE Futures Roll Index (Total Return). It was launched on Sep 26, 2017. ZDM.TO is a passively managed fund by BMO that tracks the performance of the MSCI EAFE 100% Hedged to CAD Index. It was launched on Oct 20, 2009. Both HXDM.TO and ZDM.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

HXDM.TO vs. ZDM.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Intl Developed Markets Equity Index Corporate Class ETF (HXDM.TO) and BMO MSCI EAFE Hedged to CAD Index ETF (ZDM.TO). The values are adjusted to include any dividend payments, if applicable.

HXDM.TO vs. ZDM.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	2.29%	24.06%	11.07%	15.09%	-8.78%	10.16%	4.59%	15.19%	-7.21%	5.87%
ZDM.TO BMO MSCI EAFE Hedged to CAD Index ETF	2.47%	20.34%	12.72%	18.62%	-5.78%	18.93%	0.25%	23.21%	-10.06%	4.37%

Returns By Period

In the year-to-date period, HXDM.TO achieves a 2.29% return, which is significantly lower than ZDM.TO's 2.47% return.

HXDM.TO

• 1D: 3.24%
• 1M: -6.15%
• YTD: 2.29%
• 6M: 5.18%
• 1Y: 17.67%
• 3Y*: 14.27%
• 5Y*: 9.58%
• 10Y*: —

ZDM.TO

• 1D: 2.49%
• 1M: -5.42%
• YTD: 2.47%
• 6M: 7.97%
• 1Y: 18.63%
• 3Y*: 14.85%
• 5Y*: 11.11%
• 10Y*: 10.59%

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

HXDM.TO vs. ZDM.TO - Expense Ratio Comparison

HXDM.TO has a 0.20% expense ratio, which is lower than ZDM.TO's 0.22% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

ZDM.TO

BMO MSCI EAFE Hedged to CAD Index ETF

HXDM.TO

Global X Intl Developed Markets Equity Index Corporate Class ETF

Return for Risk

HXDM.TO vs. ZDM.TO — Risk / Return Rank

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

HXDM.TO

HXDM.TO Risk / Return Rank: 57
HXDM.TO Sharpe Ratio Rank: 58
HXDM.TO Sortino Ratio Rank: 56
HXDM.TO Omega Ratio Rank: 56
HXDM.TO Calmar Ratio Rank: 57
HXDM.TO Martin Ratio Rank: 56

ZDM.TO

ZDM.TO Risk / Return Rank: 62
ZDM.TO Sharpe Ratio Rank: 63
ZDM.TO Sortino Ratio Rank: 64
ZDM.TO Omega Ratio Rank: 67
ZDM.TO Calmar Ratio Rank: 54
ZDM.TO Martin Ratio Rank: 60

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.

HXDM.TO vs. ZDM.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 MSCI EAFE Hedged to CAD Index ETF (ZDM.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	ZDM.TO	Difference
Sharpe ratio Return per unit of total volatility	1.04	1.12	-0.08
Sortino ratio Return per unit of downside risk	1.48	1.64	-0.16
Omega ratio Gain probability vs. loss probability	1.21	1.25	-0.03
Calmar ratio Return relative to maximum drawdown	1.47	1.38	+0.09
Martin ratio Return relative to average drawdown	5.58	5.96	-0.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HXDM.TO vs. ZDM.TO - Sharpe Ratio Comparison

The current HXDM.TO Sharpe Ratio is 1.04, which is comparable to the ZDM.TO Sharpe Ratio of 1.12. The chart below compares the historical Sharpe Ratios of HXDM.TO and ZDM.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HXDM.TO	ZDM.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	1.12	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.82	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.67	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.50	+0.04

Correlation

The correlation between HXDM.TO and ZDM.TO is 0.79, 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

HXDM.TO vs. ZDM.TO - Dividend Comparison

HXDM.TO has not paid dividends to shareholders, while ZDM.TO's dividend yield for the trailing twelve months is around 2.04%.

	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%
ZDM.TO BMO MSCI EAFE Hedged to CAD Index ETF	2.04%	2.13%	2.71%	2.97%	3.20%	2.38%	2.80%	2.90%	3.21%	2.41%	3.23%	2.46%

Drawdowns

HXDM.TO vs. ZDM.TO - Drawdown Comparison

The maximum HXDM.TO drawdown since its inception was -28.43%, smaller than the maximum ZDM.TO drawdown of -33.13%. Use the drawdown chart below to compare losses from any high point for HXDM.TO and ZDM.TO.

Drawdown Indicators

	HXDM.TO	ZDM.TO	Difference
Max Drawdown Largest peak-to-trough decline	-28.43%	-33.13%	+4.70%
Max Drawdown (1Y) Largest decline over 1 year	-11.68%	-11.25%	-0.43%
Max Drawdown (5Y) Largest decline over 5 years	-23.87%	-15.63%	-8.24%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.13%	—
Current Drawdown Current decline from peak	-6.80%	-5.97%	-0.83%
Average Drawdown Average peak-to-trough decline	-4.78%	-5.16%	+0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.09%	2.75%	+0.34%

Volatility

HXDM.TO vs. ZDM.TO - Volatility Comparison

Global X Intl Developed Markets Equity Index Corporate Class ETF (HXDM.TO) has a higher volatility of 7.89% compared to BMO MSCI EAFE Hedged to CAD Index ETF (ZDM.TO) at 6.56%. This indicates that HXDM.TO's price experiences larger fluctuations and is considered to be riskier than ZDM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HXDM.TO	ZDM.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.89%	6.56%	+1.33%
Volatility (6M) Calculated over the trailing 6-month period	11.20%	9.79%	+1.41%
Volatility (1Y) Calculated over the trailing 1-year period	17.06%	16.82%	+0.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.82%	13.63%	+0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.34%	15.80%	-0.46%