TUED.TO vs. ZDIV.TO

Last updated Jul 16, 2026

TUED.TO (TD Active U.S. Enhanced Dividend ETF) and ZDIV.TO (BMO MSCI Canada IMI High Dividend Yield Index ETF) are both Dividend funds. TUED.TO is actively managed, while ZDIV.TO is passively managed. At a 0.02 correlation, their price movements are largely independent.

Performance

TUED.TO vs. ZDIV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TD Active U.S. Enhanced Dividend ETF (TUED.TO) and BMO MSCI Canada IMI High Dividend Yield Index ETF (ZDIV.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TUED.TO

• 1D: -0.85%
• 1M: -0.93%
• 6M: 12.52%
• YTD: 16.47%
• 1Y: 23.31%
• 3Y*: 22.69%
• 5Y*: 12.74%
• 10Y*: —

ZDIV.TO

• 1D: 0.96%
• 1M: 2.66%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TUED.TO vs. ZDIV.TO - Yearly Performance Comparison

	2026 (YTD)
TUED.TO TD Active U.S. Enhanced Dividend ETF	15.91%
ZDIV.TO BMO MSCI Canada IMI High Dividend Yield Index ETF	19.00%

Correlation

The correlation between TUED.TO and ZDIV.TO is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 6, 2026	0.02

Return for Risk

TUED.TO vs. ZDIV.TO — Risk / Return Rank

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

TUED.TO

TUED.TO Risk / Return Rank: 47
TUED.TO Sharpe Ratio Rank: 43
TUED.TO Sortino Ratio Rank: 42
TUED.TO Omega Ratio Rank: 42
TUED.TO Calmar Ratio Rank: 54
TUED.TO Martin Ratio Rank: 56

ZDIV.TO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

TUED.TO vs. ZDIV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TD Active U.S. Enhanced Dividend ETF (TUED.TO) and BMO MSCI Canada IMI High Dividend Yield Index ETF (ZDIV.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.

	TUED.TO	ZDIV.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.29	—	—
Sortino ratio: Return per unit of downside risk	1.81	—	—
Omega ratio: Gain probability vs. loss probability	1.23	—	—
Calmar ratio: Return relative to maximum drawdown	2.22	—	—
Martin ratio: Return relative to average drawdown	7.97	—	—

Drawdowns

TUED.TO vs. ZDIV.TO - Drawdown Comparison

The maximum TUED.TO drawdown since its inception was -27.76%, which is greater than ZDIV.TO's maximum drawdown of -2.60%. Use the drawdown chart below to compare losses from any high point for TUED.TO and ZDIV.TO.

Drawdown Indicators

	TUED.TO	ZDIV.TO	Difference
Max Drawdown Largest peak-to-trough decline	-27.76%	-2.60%	-25.16%
Max Drawdown (1Y) Largest decline over 1 year	-10.55%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-27.76%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.76%	—	—
Current Drawdown Current decline from peak	-4.04%	0.00%	-4.04%
Average Drawdown Average peak-to-trough decline	-6.63%	-0.54%	-6.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.93%	—	—

Volatility

Volatility by Period

	TUED.TO	ZDIV.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.54%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.94%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.18%	9.83%	+8.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.81%	9.83%	+15.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.84%	9.83%	+25.01%

Dividends

TUED.TO vs. ZDIV.TO - Dividend Comparison

TUED.TO's dividend yield for the trailing twelve months is around 2.56%, more than ZDIV.TO's 1.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
TUED.TO TD Active U.S. Enhanced Dividend ETF	2.56%	2.89%	2.27%	2.84%	3.13%	2.45%	1.53%
ZDIV.TO BMO MSCI Canada IMI High Dividend Yield Index ETF	1.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TUED.TO and ZDIV.TO in my portfolio?

TUED.TO and ZDIV.TO have a correlation of 0.02, 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 TUED.TO and ZDIV.TO?

They also come from different issuers: TD and BMO.