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RID.TO vs. ZDM.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RID.TO vs. ZDM.TO

Last updated Jul 16, 2026
Documentation

RID.TO (RBC Quant EAFE Dividend Leaders ETF CAD) and ZDM.TO (BMO MSCI EAFE Hedged to CAD Index ETF) are both International Equity funds. RID.TO is actively managed, while ZDM.TO is passively managed. Over the past 10 years, RID.TO returned 10.01%/yr vs 10.86%/yr for ZDM.TO. A 0.65 correlation means they provide meaningful diversification when combined.

Performance

RID.TO vs. ZDM.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in RBC Quant EAFE Dividend Leaders ETF CAD (RID.TO) and BMO MSCI EAFE Hedged to CAD Index ETF (ZDM.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, RID.TO achieves a 16.07% return, which is significantly higher than ZDM.TO's 12.44% return. Over the past 10 years, RID.TO has underperformed ZDM.TO with an annualized return of 10.01%, while ZDM.TO has yielded a comparatively higher 10.86% annualized return.

RID.TO

1D
0.13%
1M
0.58%
6M
10.88%
YTD
16.07%
1Y
32.72%
3Y*
22.79%
5Y*
13.70%
10Y*
10.01%

ZDM.TO

1D
0.13%
1M
1.16%
6M
7.93%
YTD
12.44%
1Y
24.57%
3Y*
17.15%
5Y*
12.50%
10Y*
10.86%
*Multi-year figures are annualized to reflect compound growth (CAGR)

RID.TO vs. ZDM.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
RID.TO
RBC Quant EAFE Dividend Leaders ETF CAD		16.07%33.82%13.48%16.19%-10.04%12.26%0.73%10.85%-4.90%11.39%
ZDM.TO
BMO MSCI EAFE Hedged to CAD Index ETF		12.44%20.34%12.72%18.62%-5.78%18.93%0.25%20.03%-9.99%16.25%

Correlation

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

0.79

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

0.64

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

0.59

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

0.63

Correlation (All Time)
Calculated using the full available price history since Jan 15, 2014

0.65

The correlation between RID.TO and ZDM.TO shifts across timeframes, from 0.59 (5 years) to 0.79 (1 year), reflecting how their relationship changes across market environments.

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RBC Quant EAFE Dividend Leaders ETF CAD

BMO MSCI EAFE Hedged to CAD Index ETF

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Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RID.TO
RID.TO Risk / Return Rank: 8383
Overall Rank
RID.TO Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
RID.TO Sortino Ratio Rank: 8484
Sortino Ratio Rank
RID.TO Omega Ratio Rank: 8383
Omega Ratio Rank
RID.TO Calmar Ratio Rank: 7979
Calmar Ratio Rank
RID.TO Martin Ratio Rank: 8484
Martin Ratio Rank
ZDM.TO
ZDM.TO Risk / Return Rank: 6969
Overall Rank
ZDM.TO Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
ZDM.TO Sortino Ratio Rank: 7171
Sortino Ratio Rank
ZDM.TO Omega Ratio Rank: 7373
Omega Ratio Rank
ZDM.TO Calmar Ratio Rank: 6262
Calmar Ratio Rank
ZDM.TO Martin Ratio Rank: 7171
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.

RID.TO vs. ZDM.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RBC Quant EAFE Dividend Leaders ETF CAD (RID.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.

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.

RID.TOZDM.TODifference
Sharpe ratioReturn per unit of total volatility
2.20
1.81

+0.39

Sortino ratioReturn per unit of downside risk
3.03
2.58

+0.45

Omega ratioGain probability vs. loss probability

1.40

1.34

+0.05

Calmar ratioReturn relative to maximum drawdown

3.34

2.51

+0.82

Martin ratioReturn relative to average drawdown

13.44

10.36

+3.08

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

The current RID.TO Sharpe Ratio is 2.20, which is comparable to the ZDM.TO Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of RID.TO and ZDM.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

RID.TO vs. ZDM.TO - Drawdown Comparison

The maximum RID.TO drawdown since its inception was -28.74%, smaller than the maximum ZDM.TO drawdown of -33.45%. Use the drawdown chart below to compare losses from any high point for RID.TO and ZDM.TO.

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Drawdown Indicators

RID.TOZDM.TODifference

Max Drawdown

Largest peak-to-trough decline

-28.74%

-33.45%

+4.71%

Max Drawdown (1Y)

Largest decline over 1 year

-9.85%

-9.82%

-0.03%

Max Drawdown (3Y)

Largest decline over 3 years

-15.23%

-14.07%

-1.16%

Max Drawdown (5Y)

Largest decline over 5 years

-23.88%

-15.63%

-8.25%

Max Drawdown (10Y)

Largest decline over 10 years

-28.74%

-33.45%

+4.71%

Current Drawdown

Current decline from peak

-2.31%

-1.13%

-1.18%

Average Drawdown

Average peak-to-trough decline

-4.45%

-5.14%

+0.69%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.44%

2.38%

+0.06%

Volatility

RID.TO vs. ZDM.TO - Volatility Comparison

RBC Quant EAFE Dividend Leaders ETF CAD (RID.TO) has a higher volatility of 4.23% compared to BMO MSCI EAFE Hedged to CAD Index ETF (ZDM.TO) at 3.18%. This indicates that RID.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.

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Volatility by Period

RID.TOZDM.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.23%

3.18%

+1.05%

Volatility (6M)

Calculated over the trailing 6-month period

12.09%

11.46%

+0.63%

Volatility (1Y)

Calculated over the trailing 1-year period

14.95%

13.61%

+1.34%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.10%

13.88%

+0.22%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.98%

15.63%

-0.65%

Dividends

RID.TO vs. ZDM.TO - Dividend Comparison

RID.TO's dividend yield for the trailing twelve months is around 2.84%, more than ZDM.TO's 1.90% yield.

PositionTTM20252024202320222021202020192018201720162015
RID.TO
RBC Quant EAFE Dividend Leaders ETF CAD		2.84%3.03%3.52%3.76%4.09%2.65%3.54%4.14%4.57%3.00%3.35%3.22%
ZDM.TO
BMO MSCI EAFE Hedged to CAD Index ETF		1.90%2.13%2.71%2.97%3.20%2.38%2.80%2.97%3.29%2.47%3.30%2.53%

Frequently Asked Questions

RID.TO and ZDM.TO have a correlation of 0.79, 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: RBC and BMO.

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