VDU.TO vs. ZEA.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard FTSE Developed All Cap ex U.S. Index ETF (VDU.TO) and BMO MSCI EAFE Index ETF (ZEA.TO).

VDU.TO and ZEA.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VDU.TO is a passively managed fund by Vanguard that tracks the performance of the FTSE Developed All Cap ex US Index. It was launched on Aug 2, 2013. ZEA.TO is a passively managed fund by BMO that tracks the performance of the MSCI EAFE Index. It was launched on Feb 10, 2014. Both VDU.TO and ZEA.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

VDU.TO vs. ZEA.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Developed All Cap ex U.S. Index ETF (VDU.TO) and BMO MSCI EAFE Index ETF (ZEA.TO). The values are adjusted to include any dividend payments, if applicable.

VDU.TO vs. ZEA.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VDU.TO Vanguard FTSE Developed All Cap ex U.S. Index ETF	4.04%	27.97%	11.37%	14.56%	-9.89%	10.23%	7.06%	15.90%	-8.11%	17.64%
ZEA.TO BMO MSCI EAFE Index ETF	2.60%	24.28%	11.56%	16.02%	-8.51%	10.64%	5.13%	16.71%	-6.24%	16.77%

Returns By Period

In the year-to-date period, VDU.TO achieves a 4.04% return, which is significantly higher than ZEA.TO's 2.60% return. Both investments have delivered pretty close results over the past 10 years, with VDU.TO having a 9.41% annualized return and ZEA.TO not far behind at 9.38%.

VDU.TO

• 1D: 3.34%
• 1M: -6.81%
• YTD: 4.04%
• 6M: 8.45%
• 1Y: 24.80%
• 3Y*: 16.43%
• 5Y*: 10.09%
• 10Y*: 9.41%

ZEA.TO

• 1D: 2.76%
• 1M: -5.88%
• YTD: 2.60%
• 6M: 5.10%
• 1Y: 17.84%
• 3Y*: 14.97%
• 5Y*: 10.05%
• 10Y*: 9.38%

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

VDU.TO vs. ZEA.TO - Expense Ratio Comparison

Both VDU.TO and ZEA.TO have an expense ratio of 0.22%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

VDU.TO

Vanguard FTSE Developed All Cap ex U.S. Index ETF

ZEA.TO

BMO MSCI EAFE Index ETF

Return for Risk

VDU.TO vs. ZEA.TO — Risk / Return Rank

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

VDU.TO

VDU.TO Risk / Return Rank: 81
VDU.TO Sharpe Ratio Rank: 81
VDU.TO Sortino Ratio Rank: 81
VDU.TO Omega Ratio Rank: 80
VDU.TO Calmar Ratio Rank: 81
VDU.TO Martin Ratio Rank: 80

ZEA.TO

ZEA.TO Risk / Return Rank: 65
ZEA.TO Sharpe Ratio Rank: 66
ZEA.TO Sortino Ratio Rank: 65
ZEA.TO Omega Ratio Rank: 65
ZEA.TO Calmar Ratio Rank: 65
ZEA.TO Martin Ratio Rank: 64

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.

VDU.TO vs. ZEA.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed All Cap ex U.S. Index ETF (VDU.TO) and BMO MSCI EAFE Index ETF (ZEA.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.

	VDU.TO	ZEA.TO	Difference
Sharpe ratio Return per unit of total volatility	1.49	1.10	+0.39
Sortino ratio Return per unit of downside risk	2.03	1.57	+0.46
Omega ratio Gain probability vs. loss probability	1.30	1.23	+0.07
Calmar ratio Return relative to maximum drawdown	2.13	1.55	+0.58
Martin ratio Return relative to average drawdown	8.23	5.92	+2.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VDU.TO vs. ZEA.TO - Sharpe Ratio Comparison

The current VDU.TO Sharpe Ratio is 1.49, which is higher than the ZEA.TO Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of VDU.TO and ZEA.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

	VDU.TO	ZEA.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.49	1.10	+0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	0.76	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	0.64	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.56	+0.08

Correlation

The correlation between VDU.TO and ZEA.TO is 0.92, 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

VDU.TO vs. ZEA.TO - Dividend Comparison

VDU.TO's dividend yield for the trailing twelve months is around 2.34%, more than ZEA.TO's 2.08% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VDU.TO Vanguard FTSE Developed All Cap ex U.S. Index ETF	2.34%	2.61%	2.55%	2.54%	2.14%	2.67%	1.64%	2.48%	2.61%	2.26%	2.41%	2.25%
ZEA.TO BMO MSCI EAFE Index ETF	2.08%	2.17%	2.77%	3.00%	3.06%	2.48%	2.72%	2.93%	3.03%	2.39%	2.78%	2.42%

Drawdowns

VDU.TO vs. ZEA.TO - Drawdown Comparison

The maximum VDU.TO drawdown since its inception was -29.19%, roughly equal to the maximum ZEA.TO drawdown of -27.80%. Use the drawdown chart below to compare losses from any high point for VDU.TO and ZEA.TO.

Drawdown Indicators

	VDU.TO	ZEA.TO	Difference
Max Drawdown Largest peak-to-trough decline	-29.19%	-27.80%	-1.39%
Max Drawdown (1Y) Largest decline over 1 year	-11.47%	-11.09%	-0.38%
Max Drawdown (5Y) Largest decline over 5 years	-24.10%	-23.67%	-0.43%
Max Drawdown (10Y) Largest decline over 10 years	-29.19%	-27.80%	-1.39%
Current Drawdown Current decline from peak	-7.23%	-6.46%	-0.77%
Average Drawdown Average peak-to-trough decline	-4.70%	-4.66%	-0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	2.94%	+0.03%

Volatility

VDU.TO vs. ZEA.TO - Volatility Comparison

Vanguard FTSE Developed All Cap ex U.S. Index ETF (VDU.TO) has a higher volatility of 8.37% compared to BMO MSCI EAFE Index ETF (ZEA.TO) at 7.36%. This indicates that VDU.TO's price experiences larger fluctuations and is considered to be riskier than ZEA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VDU.TO	ZEA.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.37%	7.36%	+1.01%
Volatility (6M) Calculated over the trailing 6-month period	11.26%	10.22%	+1.04%
Volatility (1Y) Calculated over the trailing 1-year period	16.74%	16.27%	+0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.23%	13.29%	-0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.61%	14.80%	-0.19%