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VEQT.TO vs. CDZ.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VEQT.TO vs. CDZ.TO

Last updated Jun 4, 2026

VEQT.TO (Vanguard All-Equity ETF Portfolio) and CDZ.TO (iShares S&P/TSX Canadian Dividend Aristocrats Index ETF) are both exchange-traded funds - VEQT.TO is a Global Equities fund actively managed by Vanguard, while CDZ.TO is a Canada Equities fund tracking the Morningstar Canada GR CAD. VEQT.TO is actively managed, while CDZ.TO is passively managed. Over the past 5 years, VEQT.TO returned 14.01%/yr vs 10.31%/yr for CDZ.TO. A 0.75 correlation means they provide meaningful diversification when combined. VEQT.TO charges 0.24%/yr vs 0.66%/yr for CDZ.TO.

Performance

VEQT.TO vs. CDZ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard All-Equity ETF Portfolio (VEQT.TO) and iShares S&P/TSX Canadian Dividend Aristocrats Index ETF (CDZ.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, VEQT.TO achieves a 12.75% return, which is significantly lower than CDZ.TO's 13.46% return.

VEQT.TO

1D
-0.54%
1M
6.10%
YTD
12.75%
6M
12.66%
1Y
31.65%
3Y*
22.37%
5Y*
14.01%
10Y*
—

CDZ.TO

1D
0.00%
1M
3.31%
YTD
13.46%
6M
10.74%
1Y
22.32%
3Y*
16.81%
5Y*
10.31%
10Y*
9.44%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VEQT.TO vs. CDZ.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
VEQT.TO
Vanguard All-Equity ETF Portfolio		12.75%20.37%24.73%16.70%-10.76%19.62%11.42%12.94%
CDZ.TO
iShares S&P/TSX Canadian Dividend Aristocrats Index ETF		13.46%13.45%17.86%8.98%-4.43%22.80%-3.27%15.48%

Correlation

The correlation between VEQT.TO and CDZ.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 (1Y)
Calculated over the trailing 1-year period

0.59

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

0.70

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

0.74

Correlation (All Time)
Calculated using the full available price history since Feb 6, 2019

0.75

The correlation between VEQT.TO and CDZ.TO shifts across timeframes, from 0.59 (1 year) to 0.75 (all time), reflecting how their relationship changes across market environments.

VEQT.TO vs. CDZ.TO - Sectors Allocation Comparison

Sectors
VEQT.TO
CDZ.TO

Financial Services

20.7%
17.1%

Technology

20.3%
2.7%

Industrials

11.6%
14.5%

Energy

8.7%
22.7%

Basic Materials

8.6%
3.3%

Consumer Cyclical

7.8%
7.6%

Healthcare

6.6%

-

Communication Services

6.0%
7.5%

Consumer Defensive

4.5%
6.7%

Utilities

2.8%
9.0%

Real Estate

2.2%
8.9%

Financial Services

VEQT.TO
20.7%
CDZ.TO
17.1%

Technology

VEQT.TO
20.3%
CDZ.TO
2.7%

Industrials

VEQT.TO
11.6%
CDZ.TO
14.5%

Energy

VEQT.TO
8.7%
CDZ.TO
22.7%

Basic Materials

VEQT.TO
8.6%
CDZ.TO
3.3%

Consumer Cyclical

VEQT.TO
7.8%
CDZ.TO
7.6%

Healthcare

VEQT.TO
6.6%
CDZ.TO

-

Communication Services

VEQT.TO
6.0%
CDZ.TO
7.5%

Consumer Defensive

VEQT.TO
4.5%
CDZ.TO
6.7%

Utilities

VEQT.TO
2.8%
CDZ.TO
9.0%

Real Estate

VEQT.TO
2.2%
CDZ.TO
8.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard All-Equity ETF Portfolio

iShares S&P/TSX Canadian Dividend Aristocrats Index ETF

Often compared with VEQT.TO:
VEQT.TO vs. XEQT.TOVEQT.TO vs. VFV.TOVEQT.TO vs. VGRO.TOVEQT.TO vs. VOOVEQT.TO vs. ZEQT.TOVEQT.TO vs. SPYVEQT.TO vs. VBAL.TO
Often compared with CDZ.TO:
CDZ.TO vs. VDY.TOCDZ.TO vs. XDIV.TOCDZ.TO vs. XEI.TOCDZ.TO vs. XDV.TOCDZ.TO vs. XEQT.TOCDZ.TO vs. CUD.TOCDZ.TO vs. XUS.TO

Return for Risk

VEQT.TO vs. CDZ.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VEQT.TO
VEQT.TO Risk / Return Rank: 8181
Overall Rank
VEQT.TO Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
VEQT.TO Sortino Ratio Rank: 8383
Sortino Ratio Rank
VEQT.TO Omega Ratio Rank: 8282
Omega Ratio Rank
VEQT.TO Calmar Ratio Rank: 7676
Calmar Ratio Rank
VEQT.TO Martin Ratio Rank: 8383
Martin Ratio Rank
CDZ.TO
CDZ.TO Risk / Return Rank: 8484
Overall Rank
CDZ.TO Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
CDZ.TO Sortino Ratio Rank: 7777
Sortino Ratio Rank
CDZ.TO Omega Ratio Rank: 8888
Omega Ratio Rank
CDZ.TO Calmar Ratio Rank: 8989
Calmar Ratio Rank
CDZ.TO Martin Ratio Rank: 8686
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.

VEQT.TO vs. CDZ.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard All-Equity ETF Portfolio (VEQT.TO) and iShares S&P/TSX Canadian Dividend Aristocrats Index ETF (CDZ.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.

VEQT.TOCDZ.TODifference
Sharpe ratioReturn per unit of total volatility
2.74
2.72

+0.02

Sortino ratioReturn per unit of downside risk
3.77
3.53

+0.25

Omega ratioGain probability vs. loss probability

1.51

1.56

-0.06

Calmar ratioReturn relative to maximum drawdown

3.95

5.46

-1.51

Martin ratioReturn relative to average drawdown

17.38

18.49

-1.11

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

VEQT.TO vs. CDZ.TO - Sharpe Ratio Comparison

The current VEQT.TO Sharpe Ratio is 2.74, which is comparable to the CDZ.TO Sharpe Ratio of 2.72. The chart below compares the historical Sharpe Ratios of VEQT.TO and CDZ.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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Sharpe Ratios by Period

VEQT.TOCDZ.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.74

2.72

+0.02

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.09

0.95

+0.14

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.65

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.91

0.52

+0.39

Drawdowns

VEQT.TO vs. CDZ.TO - Drawdown Comparison

The maximum VEQT.TO drawdown since its inception was -30.45%, smaller than the maximum CDZ.TO drawdown of -49.33%. Use the drawdown chart below to compare losses from any high point for VEQT.TO and CDZ.TO.

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Drawdown Indicators

VEQT.TOCDZ.TODifference

Max Drawdown

Largest peak-to-trough decline

-30.45%

-49.33%

+18.88%

Max Drawdown (1Y)

Largest decline over 1 year

-8.05%

-4.11%

-3.94%

Max Drawdown (3Y)

Largest decline over 3 years

-15.46%

-12.99%

-2.47%

Max Drawdown (5Y)

Largest decline over 5 years

-18.32%

-17.15%

-1.17%

Max Drawdown (10Y)

Largest decline over 10 years

—

-45.70%

—

Current Drawdown

Current decline from peak

-0.54%

-0.09%

-0.45%

Average Drawdown

Average peak-to-trough decline

-3.71%

-6.14%

+2.43%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.83%

1.21%

+0.62%

Volatility

VEQT.TO vs. CDZ.TO - Volatility Comparison

Vanguard All-Equity ETF Portfolio (VEQT.TO) has a higher volatility of 3.68% compared to iShares S&P/TSX Canadian Dividend Aristocrats Index ETF (CDZ.TO) at 1.88%. This indicates that VEQT.TO's price experiences larger fluctuations and is considered to be riskier than CDZ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VEQT.TOCDZ.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.68%

1.88%

+1.80%

Volatility (6M)

Calculated over the trailing 6-month period

9.37%

6.91%

+2.46%

Volatility (1Y)

Calculated over the trailing 1-year period

11.61%

8.26%

+3.35%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.90%

10.86%

+2.04%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.77%

14.63%

+1.14%

VEQT.TO vs. CDZ.TO - Expense Ratio Comparison

VEQT.TO has a 0.24% expense ratio, which is lower than CDZ.TO's 0.66% expense ratio.

Dividends

VEQT.TO vs. CDZ.TO - Dividend Comparison

VEQT.TO's dividend yield for the trailing twelve months is around 1.26%, less than CDZ.TO's 3.07% yield.

PositionTTM20252024202320222021202020192018201720162015
CDZ.TO
iShares S&P/TSX Canadian Dividend Aristocrats Index ETF		3.07%3.46%3.56%3.71%3.67%2.95%3.70%3.68%4.37%3.43%3.51%3.72%
VEQT.TO
Vanguard All-Equity ETF Portfolio		1.26%1.42%1.58%1.88%2.09%1.40%1.48%1.42%0.00%0.00%0.00%0.00%

Frequently Asked Questions

VEQT.TO and CDZ.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, VEQT.TO is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VEQT.TO is cheaper with a 0.24% expense ratio, compared with 0.66% for CDZ.TO.

VEQT.TO is categorized as Global Equities, while CDZ.TO is Canada Equities. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.24% for VEQT.TO and 0.66% for CDZ.TO.

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