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QDIV vs. ZLB.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QDIV vs. ZLB.TO

Last updated Jun 9, 2026

QDIV (Global X S&P 500 Quality Dividend ETF) and ZLB.TO (BMO Low Volatility Canadian Equity ETF) are both exchange-traded funds - QDIV is a Dividend fund tracking the S&P 500 Quality High Dividend Index, while ZLB.TO is a Canada Equities fund actively managed by BMO. QDIV is passively managed, while ZLB.TO is actively managed. Over the past 5 years, QDIV returned 6.36%/yr vs 7.91%/yr for ZLB.TO. At a 0.45 correlation, their price movements are largely independent. QDIV charges 0.20%/yr vs 0.39%/yr for ZLB.TO.

Performance

QDIV vs. ZLB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X S&P 500 Quality Dividend ETF (QDIV) and BMO Low Volatility Canadian Equity ETF (ZLB.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, QDIV achieves a 8.38% return, which is significantly higher than ZLB.TO's 2.14% return.

QDIV

1D
-0.36%
1M
1.92%
YTD
8.38%
6M
8.73%
1Y
13.98%
3Y*
9.65%
5Y*
6.36%
10Y*
—

ZLB.TO

1D
-0.93%
1M
-0.55%
YTD
2.14%
6M
0.70%
1Y
10.48%
3Y*
13.02%
5Y*
7.91%
10Y*
9.42%
*Multi-year figures are annualized to reflect compound growth (CAGR)

QDIV vs. ZLB.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
QDIV
Global X S&P 500 Quality Dividend ETF		8.38%3.16%10.62%5.18%-0.50%28.99%0.03%29.00%-12.20%
ZLB.TO
BMO Low Volatility Canadian Equity ETF		2.08%26.16%6.31%12.07%-6.29%22.99%3.98%27.16%-9.48%

Correlation

The correlation between QDIV and ZLB.TO is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.33

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

0.40

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

0.44

Correlation (All Time)
Calculated using the full available price history since Jul 18, 2018

0.45

The correlation between QDIV and ZLB.TO shifts across timeframes, from 0.33 (1 year) to 0.45 (all time), reflecting how their relationship changes across market environments.

QDIV vs. ZLB.TO - Sectors Allocation Comparison

Sectors
QDIV
ZLB.TO

Consumer Defensive

21.9%
18.3%

Industrials

16.5%
10.0%

Healthcare

14.3%

-

Energy

14.1%

-

Basic Materials

8.4%
6.2%

Technology

8.1%
1.9%

Financial Services

6.9%
23.9%

Consumer Cyclical

6.1%
8.5%

Communication Services

3.7%
9.3%

Real Estate

-

4.3%

Utilities

-

17.6%

Consumer Defensive

QDIV
21.9%
ZLB.TO
18.3%

Industrials

QDIV
16.5%
ZLB.TO
10.0%

Healthcare

QDIV
14.3%
ZLB.TO

-

Energy

QDIV
14.1%
ZLB.TO

-

Basic Materials

QDIV
8.4%
ZLB.TO
6.2%

Technology

QDIV
8.1%
ZLB.TO
1.9%

Financial Services

QDIV
6.9%
ZLB.TO
23.9%

Consumer Cyclical

QDIV
6.1%
ZLB.TO
8.5%

Communication Services

QDIV
3.7%
ZLB.TO
9.3%

Real Estate

QDIV

-

ZLB.TO
4.3%

Utilities

QDIV

-

ZLB.TO
17.6%

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 S&P 500 Quality Dividend ETF

BMO Low Volatility Canadian Equity ETF

Often compared with QDIV:
QDIV vs. SCHDQDIV vs. DGRWQDIV vs. SPYQDIV vs. DGROQDIV vs. QQQQDIV vs. SPHDQDIV vs. USDV.L
Often compared with ZLB.TO:
ZLB.TO vs. VDY.TOZLB.TO vs. XIU.TOZLB.TO vs. XDIV.TOZLB.TO vs. XMW.TOZLB.TO vs. XBAL.TOZLB.TO vs. XUT.TOZLB.TO vs. XUU-U.TO

Return for Risk

QDIV vs. ZLB.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QDIV
QDIV Risk / Return Rank: 3737
Overall Rank
QDIV Sharpe Ratio Rank: 3636
Sharpe Ratio Rank
QDIV Sortino Ratio Rank: 4040
Sortino Ratio Rank
QDIV Omega Ratio Rank: 3535
Omega Ratio Rank
QDIV Calmar Ratio Rank: 3939
Calmar Ratio Rank
QDIV Martin Ratio Rank: 3333
Martin Ratio Rank
ZLB.TO
ZLB.TO Risk / Return Rank: 4545
Overall Rank
ZLB.TO Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
ZLB.TO Sortino Ratio Rank: 4040
Sortino Ratio Rank
ZLB.TO Omega Ratio Rank: 4545
Omega Ratio Rank
ZLB.TO Calmar Ratio Rank: 5050
Calmar Ratio Rank
ZLB.TO Martin Ratio Rank: 4545
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.

QDIV vs. ZLB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Quality Dividend ETF (QDIV) and BMO Low Volatility Canadian Equity ETF (ZLB.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.

QDIVZLB.TODifference
Sharpe ratioReturn per unit of total volatility
1.19
1.05

+0.14

Sortino ratioReturn per unit of downside risk
1.85
1.46

+0.39

Omega ratioGain probability vs. loss probability

1.21

1.20

+0.01

Calmar ratioReturn relative to maximum drawdown

1.76

1.72

+0.04

Martin ratioReturn relative to average drawdown

4.52

4.69

-0.18

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QDIV vs. ZLB.TO - Sharpe Ratio Comparison

The current QDIV Sharpe Ratio is 1.19, which is comparable to the ZLB.TO Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of QDIV and ZLB.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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Sharpe Ratios by Period

QDIVZLB.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.19

1.05

+0.14

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.42

0.68

-0.26

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.68

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.43

0.75

-0.32

Drawdowns

QDIV vs. ZLB.TO - Drawdown Comparison

The maximum QDIV drawdown since its inception was -41.20%, roughly equal to the maximum ZLB.TO drawdown of -39.55%. Use the drawdown chart below to compare losses from any high point for QDIV and ZLB.TO.

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Drawdown Indicators

QDIVZLB.TODifference

Max Drawdown

Largest peak-to-trough decline

-41.20%

-39.55%

-1.65%

Max Drawdown (1Y)

Largest decline over 1 year

-7.97%

-6.13%

-1.84%

Max Drawdown (3Y)

Largest decline over 3 years

-16.81%

-12.27%

-4.54%

Max Drawdown (5Y)

Largest decline over 5 years

-18.52%

-20.63%

+2.11%

Max Drawdown (10Y)

Largest decline over 10 years

—

-39.55%

—

Current Drawdown

Current decline from peak

-3.81%

-2.58%

-1.23%

Average Drawdown

Average peak-to-trough decline

-5.54%

-4.09%

-1.45%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.10%

2.24%

+0.86%

Volatility

QDIV vs. ZLB.TO - Volatility Comparison

The current volatility for Global X S&P 500 Quality Dividend ETF (QDIV) is 2.46%, while BMO Low Volatility Canadian Equity ETF (ZLB.TO) has a volatility of 2.82%. This indicates that QDIV experiences smaller price fluctuations and is considered to be less risky than ZLB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QDIVZLB.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.46%

2.82%

-0.36%

Volatility (6M)

Calculated over the trailing 6-month period

7.99%

8.11%

-0.12%

Volatility (1Y)

Calculated over the trailing 1-year period

11.81%

10.02%

+1.79%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.30%

11.65%

+3.65%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.41%

13.91%

+5.50%

QDIV vs. ZLB.TO - Expense Ratio Comparison

QDIV has a 0.20% expense ratio, which is lower than ZLB.TO's 0.39% expense ratio.

Dividends

QDIV vs. ZLB.TO - Dividend Comparison

QDIV's dividend yield for the trailing twelve months is around 2.99%, more than ZLB.TO's 1.91% yield.

PositionTTM20252024202320222021202020192018201720162015
QDIV
Global X S&P 500 Quality Dividend ETF		2.99%3.13%2.88%3.26%3.02%2.44%3.06%2.84%1.30%0.00%0.00%0.00%
ZLB.TO
BMO Low Volatility Canadian Equity ETF		1.91%1.99%2.37%2.67%2.66%2.39%2.83%2.44%2.76%2.55%2.94%2.34%

Frequently Asked Questions

QDIV and ZLB.TO have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, QDIV is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

QDIV is cheaper with a 0.20% expense ratio, compared with 0.39% for ZLB.TO.

QDIV is categorized as Dividend, while ZLB.TO is Canada Equities. They also come from different issuers: Global X and BMO. Their fees differ too: 0.20% for QDIV and 0.39% for ZLB.TO.

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