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VDY.TO vs. ZDIV.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VDY.TO vs. ZDIV.TO

Last updated Jun 4, 2026

VDY.TO (Vanguard FTSE Canadian High Dividend Yield Index ETF) and ZDIV.TO (BMO MSCI Canada IMI High Dividend Yield Index ETF) are both Dividend funds - VDY.TO tracks the FTSE Canada High Dividend Yield Index while ZDIV.TO tracks the MSCI Canada IMI High Dividend Yield Select Index. Both are passively managed. A 0.59 correlation means they provide meaningful diversification when combined. VDY.TO charges 0.22%/yr vs 0.09%/yr for ZDIV.TO.

Performance

VDY.TO vs. ZDIV.TO - Performance Comparison

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

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Returns By Period

VDY.TO

1D
-0.07%
1M
4.52%
YTD
20.59%
6M
22.32%
1Y
46.18%
3Y*
26.00%
5Y*
17.21%
10Y*
14.02%

ZDIV.TO

1D
-0.14%
1M
2.47%
YTD
—
6M
—
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index ETF		14.94%
ZDIV.TO
BMO MSCI Canada IMI High Dividend Yield Index ETF		15.21%

Correlation

The correlation between VDY.TO and ZDIV.TO is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (All Time)
Calculated using the full available price history since Feb 9, 2026

0.59

Compare stocks, funds, or ETFs

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Vanguard FTSE Canadian High Dividend Yield Index ETF

BMO MSCI Canada IMI High Dividend Yield Index ETF

Often compared with VDY.TO:
VDY.TO vs. XEI.TOVDY.TO vs. XDIV.TOVDY.TO vs. VCN.TOVDY.TO vs. SCHDVDY.TO vs. XIC.TOVDY.TO vs. VCE.TOVDY.TO vs. ZDV.TO
Often compared with ZDIV.TO:
ZDIV.TO vs. XDIV.TOZDIV.TO vs. CAGE.TOZDIV.TO vs. FCCD.TOZDIV.TO vs. DXU.TOZDIV.TO vs. FINN.NEOZDIV.TO vs. ZEQT.TOZDIV.TO vs. TEC.TO

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VDY.TO
VDY.TO Risk / Return Rank: 9898
Overall Rank
VDY.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
VDY.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
VDY.TO Omega Ratio Rank: 9898
Omega Ratio Rank
VDY.TO Calmar Ratio Rank: 9898
Calmar Ratio Rank
VDY.TO Martin Ratio Rank: 9898
Martin Ratio Rank
ZDIV.TO
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.

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

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.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.

VDY.TOZDIV.TODifference
Sharpe ratioReturn per unit of total volatility
5.65

—

—

Sortino ratioReturn per unit of downside risk
8.14

—

—

Omega ratioGain probability vs. loss probability

2.14

—

—

Calmar ratioReturn relative to maximum drawdown

14.88

—

—

Martin ratioReturn relative to average drawdown

60.75

—

—

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

VDY.TO vs. ZDIV.TO - Sharpe Ratio Comparison

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Sharpe Ratios by Period

VDY.TOZDIV.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

5.65

—

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.50

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.88

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.84

5.66

-4.82

Drawdowns

VDY.TO vs. ZDIV.TO - Drawdown Comparison

The maximum VDY.TO drawdown since its inception was -39.21%, 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 VDY.TO and ZDIV.TO.

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Drawdown Indicators

VDY.TOZDIV.TODifference

Max Drawdown

Largest peak-to-trough decline

-39.21%

-2.60%

-36.61%

Max Drawdown (1Y)

Largest decline over 1 year

-3.12%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-10.87%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-16.18%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-39.21%

—

—

Current Drawdown

Current decline from peak

-0.77%

-1.02%

+0.25%

Average Drawdown

Average peak-to-trough decline

-4.61%

-0.49%

-4.12%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.76%

—

—

Volatility

VDY.TO vs. ZDIV.TO - Volatility Comparison

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Volatility by Period

VDY.TOZDIV.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.31%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

6.87%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

8.21%

9.99%

-1.78%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.56%

9.99%

+1.57%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.96%

9.99%

+5.97%

VDY.TO vs. ZDIV.TO - Expense Ratio Comparison

VDY.TO has a 0.22% expense ratio, which is higher than ZDIV.TO's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VDY.TO vs. ZDIV.TO - Dividend Comparison

VDY.TO's dividend yield for the trailing twelve months is around 2.90%, more than ZDIV.TO's 0.90% yield.

PositionTTM20252024202320222021202020192018201720162015
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index ETF		2.90%3.59%4.40%4.64%4.42%3.58%4.59%4.25%4.43%3.82%3.25%4.11%
ZDIV.TO
BMO MSCI Canada IMI High Dividend Yield Index ETF		0.90%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

VDY.TO and ZDIV.TO have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZDIV.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZDIV.TO is cheaper with a 0.09% expense ratio, compared with 0.22% for VDY.TO.

VDY.TO tracks FTSE Canada High Dividend Yield Index, while ZDIV.TO tracks MSCI Canada IMI High Dividend Yield Select Index. They also come from different issuers: Vanguard and BMO. Their fees differ too: 0.22% for VDY.TO and 0.09% for ZDIV.TO.

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