VGH.TO vs. ZDIV.TO
VGH.TO (Vanguard U.S. Dividend Appreciation Index ETF CAD-Hedged) and ZDIV.TO (BMO MSCI Canada IMI High Dividend Yield Index ETF) are both Dividend funds - VGH.TO tracks the S&P U.S. Dividend Growers Index (CAD-hedged) while ZDIV.TO tracks the MSCI Canada IMI High Dividend Yield Select Index. Both are passively managed. At a 0.06 correlation, their price movements are largely independent. VGH.TO charges 0.31%/yr vs 0.09%/yr for ZDIV.TO.
Performance
VGH.TO vs. ZDIV.TO - Performance Comparison
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Returns By Period
VGH.TO
- 1D
- 0.07%
- 1M
- 4.04%
- YTD
- 6.70%
- 6M
- 5.84%
- 1Y
- 17.06%
- 3Y*
- 14.24%
- 5Y*
- 8.84%
- 10Y*
- 11.43%
ZDIV.TO
- 1D
- -0.14%
- 1M
- 2.47%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VGH.TO vs. ZDIV.TO - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
VGH.TO Vanguard U.S. Dividend Appreciation Index ETF CAD-Hedged | 2.43% |
ZDIV.TO BMO MSCI Canada IMI High Dividend Yield Index ETF | 15.21% |
Correlation
The correlation between VGH.TO and ZDIV.TO is 0.06, 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 9, 2026 | 0.06 |
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Return for Risk
VGH.TO vs. ZDIV.TO — Risk / Return Rank
VGH.TO
ZDIV.TO
VGH.TO vs. ZDIV.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard U.S. Dividend Appreciation Index ETF CAD-Hedged (VGH.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.
| VGH.TO | ZDIV.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.30 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.03 | — | — |
| Martin ratioReturn relative to average drawdown | 8.05 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VGH.TO | ZDIV.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.68 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.63 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 5.66 | -4.94 |
Drawdowns
VGH.TO vs. ZDIV.TO - Drawdown Comparison
The maximum VGH.TO drawdown since its inception was -32.82%, 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 VGH.TO and ZDIV.TO.
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Drawdown Indicators
| VGH.TO | ZDIV.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.82% | -2.60% | -30.22% |
Max Drawdown (1Y)Largest decline over 1 year | -8.42% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -15.16% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -21.34% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -32.82% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.02% | +1.02% |
Average DrawdownAverage peak-to-trough decline | -3.67% | -0.49% | -3.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.12% | — | — |
Volatility
VGH.TO vs. ZDIV.TO - Volatility Comparison
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Volatility by Period
| VGH.TO | ZDIV.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.19% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 7.56% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 10.22% | 9.99% | +0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.21% | 9.99% | +4.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.75% | 9.99% | +5.76% |
VGH.TO vs. ZDIV.TO - Expense Ratio Comparison
VGH.TO has a 0.31% expense ratio, which is higher than ZDIV.TO's 0.09% expense ratio.
Dividends
VGH.TO vs. ZDIV.TO - Dividend Comparison
VGH.TO's dividend yield for the trailing twelve months is around 1.04%, more than ZDIV.TO's 0.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VGH.TO Vanguard U.S. Dividend Appreciation Index ETF CAD-Hedged | 1.04% | 1.15% | 1.28% | 1.34% | 1.39% | 1.22% | 1.21% | 1.23% | 1.58% | 1.39% | 1.63% | 1.81% |
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
VGH.TO and ZDIV.TO have a correlation of 0.06, 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 0.31% for VGH.TO.
VGH.TO tracks S&P U.S. Dividend Growers Index (CAD-hedged), 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: 0.31% for VGH.TO and 0.09% for ZDIV.TO.
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