SPDG vs. ZZZD.TO

Last updated Jul 14, 2026

SPDG (SPDR Portfolio S&P Sector Neutral Dividend ETF) and ZZZD.TO (BMO Tactical Dividend ETF Fund) are both Dividend funds. SPDG is passively managed, while ZZZD.TO is actively managed. Over the past year, SPDG returned 22.41% vs 10.34% for ZZZD.TO. At a 0.15 correlation, their price movements are largely independent.

Performance

SPDG vs. ZZZD.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio S&P Sector Neutral Dividend ETF (SPDG) and BMO Tactical Dividend ETF Fund (ZZZD.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, SPDG achieves a 15.89% return, which is significantly higher than ZZZD.TO's 6.95% return.

SPDG

• 1D: -0.43%
• 1M: -0.55%
• 6M: 12.39%
• YTD: 15.89%
• 1Y: 22.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ZZZD.TO

• 1D: -0.50%
• 1M: -1.80%
• 6M: 7.54%
• YTD: 6.95%
• 1Y: 10.34%
• 3Y*: 7.47%
• 5Y*: 4.23%
• 10Y*: —

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

SPDG vs. ZZZD.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SPDG SPDR Portfolio S&P Sector Neutral Dividend ETF	15.89%	11.66%	20.22%	8.09%
ZZZD.TO BMO Tactical Dividend ETF Fund	6.95%	15.27%	-4.15%	6.45%

Correlation

The correlation between SPDG and ZZZD.TO is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (All Time) Calculated using the full available price history since Sep 12, 2023	0.15

SPDG vs. ZZZD.TO - Sectors Allocation Comparison

Sectors	SPDG	ZZZD.TO
Technology	37.4%	16.4%
Financial Services	11.8%	16.3%
Consumer Cyclical	9.3%	4.2%
Healthcare	9.0%	12.3%
Communication Services	8.8%	10.5%
Industrials	8.8%	7.6%
Consumer Defensive	5.1%	4.6%
Energy	3.8%	10.2%
Utilities	2.4%	12.4%
Real Estate	2.2%	1.2%
Basic Materials	1.6%	4.4%

Return for Risk

SPDG vs. ZZZD.TO — Risk / Return Rank

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

SPDG

SPDG Risk / Return Rank: 69
SPDG Sharpe Ratio Rank: 72
SPDG Sortino Ratio Rank: 74
SPDG Omega Ratio Rank: 70
SPDG Calmar Ratio Rank: 68
SPDG Martin Ratio Rank: 64

ZZZD.TO

ZZZD.TO Risk / Return Rank: 79
ZZZD.TO Sharpe Ratio Rank: 66
ZZZD.TO Sortino Ratio Rank: 72
ZZZD.TO Omega Ratio Rank: 71
ZZZD.TO Calmar Ratio Rank: 94
ZZZD.TO Martin Ratio Rank: 92

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.

SPDG vs. ZZZD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio S&P Sector Neutral Dividend ETF (SPDG) and BMO Tactical Dividend ETF Fund (ZZZD.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.

	SPDG	ZZZD.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.83	1.08	+0.75
Sortino ratio: Return per unit of downside risk	2.65	1.64	+1.01
Omega ratio: Gain probability vs. loss probability	1.33	1.20	+0.13
Calmar ratio: Return relative to maximum drawdown	2.70	2.63	+0.07
Martin ratio: Return relative to average drawdown	8.99	8.35	+0.64

SPDG vs. ZZZD.TO - Sharpe Ratio Comparison

The current SPDG Sharpe Ratio is 1.83, which is higher than the ZZZD.TO Sharpe Ratio of 1.08. The chart below compares the historical Sharpe Ratios of SPDG and ZZZD.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.

Drawdowns

SPDG vs. ZZZD.TO - Drawdown Comparison

The maximum SPDG drawdown since its inception was -15.67%, smaller than the maximum ZZZD.TO drawdown of -28.71%. Use the drawdown chart below to compare losses from any high point for SPDG and ZZZD.TO.

Drawdown Indicators

	SPDG	ZZZD.TO	Difference
Max Drawdown Largest peak-to-trough decline	-15.67%	-28.71%	+13.04%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-3.95%	-4.39%
Max Drawdown (3Y) Largest decline over 3 years	—	-12.94%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.67%	—
Current Drawdown Current decline from peak	-1.35%	-2.54%	+1.19%
Average Drawdown Average peak-to-trough decline	-2.18%	-5.16%	+2.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	1.25%	+1.25%

Volatility

SPDG vs. ZZZD.TO - Volatility Comparison

SPDR Portfolio S&P Sector Neutral Dividend ETF (SPDG) has a higher volatility of 3.46% compared to BMO Tactical Dividend ETF Fund (ZZZD.TO) at 3.14%. This indicates that SPDG's price experiences larger fluctuations and is considered to be riskier than ZZZD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPDG	ZZZD.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.46%	3.14%	+0.32%
Volatility (6M) Calculated over the trailing 6-month period	9.45%	7.22%	+2.23%
Volatility (1Y) Calculated over the trailing 1-year period	12.32%	9.64%	+2.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.12%	12.63%	+1.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.12%	13.83%	+0.29%

Dividends

SPDG vs. ZZZD.TO - Dividend Comparison

SPDG's dividend yield for the trailing twelve months is around 2.68%, less than ZZZD.TO's 3.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
SPDG SPDR Portfolio S&P Sector Neutral Dividend ETF	2.68%	2.87%	2.61%	0.90%	0.00%	0.00%	0.00%	0.00%
ZZZD.TO BMO Tactical Dividend ETF Fund	3.75%	4.07%	4.29%	4.28%	4.51%	4.27%	4.09%	3.11%

Frequently Asked Questions

Can I hold both SPDG and ZZZD.TO in my portfolio?

SPDG and ZZZD.TO have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between SPDG and ZZZD.TO?

They also come from different issuers: State Street and BMO.