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VGH.TO vs. ZZZD.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VGH.TO vs. ZZZD.TO

Last updated Jul 17, 2026
Documentation

VGH.TO (Vanguard U.S. Dividend Appreciation Index ETF CAD-Hedged) and ZZZD.TO (BMO Tactical Dividend ETF Fund) are both Dividend funds. VGH.TO is passively managed, while ZZZD.TO is actively managed. Over the past 5 years, VGH.TO returned 8.78%/yr vs 7.00%/yr for ZZZD.TO. At a 0.31 correlation, their price movements are largely independent.

Performance

VGH.TO vs. ZZZD.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard U.S. Dividend Appreciation Index ETF CAD-Hedged (VGH.TO) and BMO Tactical Dividend ETF Fund (ZZZD.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, VGH.TO achieves a 7.91% return, which is significantly lower than ZZZD.TO's 11.41% return.

VGH.TO

1D
0.48%
1M
0.85%
6M
5.43%
YTD
7.91%
1Y
15.16%
3Y*
13.14%
5Y*
8.78%
10Y*
11.08%

ZZZD.TO

1D
0.16%
1M
0.47%
6M
9.44%
YTD
11.41%
1Y
15.70%
3Y*
10.75%
5Y*
7.00%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

VGH.TO vs. ZZZD.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
VGH.TO
Vanguard U.S. Dividend Appreciation Index ETF CAD-Hedged		7.91%11.44%15.35%12.77%-11.08%22.47%12.97%24.57%
ZZZD.TO
BMO Tactical Dividend ETF Fund		11.41%10.01%3.96%10.10%-0.86%5.24%-9.74%9.67%

Correlation

The correlation between VGH.TO and ZZZD.TO is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.24

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

0.17

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

0.30

Correlation (All Time)
Calculated using the full available price history since Jan 11, 2019

0.31

The correlation between VGH.TO and ZZZD.TO shifts across timeframes, from 0.17 (3 years) to 0.31 (all time), reflecting how their relationship changes across market environments.

VGH.TO vs. ZZZD.TO - Sectors Allocation Comparison

Sectors
VGH.TO
ZZZD.TO

Technology

29.0%
16.4%

Financial Services

19.9%
16.3%

Healthcare

16.6%
12.3%

Industrials

11.3%
7.6%

Consumer Defensive

9.3%
4.6%

Consumer Cyclical

4.4%
4.2%

Basic Materials

3.3%
4.4%

Energy

3.2%
10.2%

Utilities

2.9%
12.4%

Communication Services

0.5%
10.5%

Real Estate

-

1.2%

Technology

VGH.TO
29.0%
ZZZD.TO
16.4%

Financial Services

VGH.TO
19.9%
ZZZD.TO
16.3%

Healthcare

VGH.TO
16.6%
ZZZD.TO
12.3%

Industrials

VGH.TO
11.3%
ZZZD.TO
7.6%

Consumer Defensive

VGH.TO
9.3%
ZZZD.TO
4.6%

Consumer Cyclical

VGH.TO
4.4%
ZZZD.TO
4.2%

Basic Materials

VGH.TO
3.3%
ZZZD.TO
4.4%

Energy

VGH.TO
3.2%
ZZZD.TO
10.2%

Utilities

VGH.TO
2.9%
ZZZD.TO
12.4%

Communication Services

VGH.TO
0.5%
ZZZD.TO
10.5%

Real Estate

VGH.TO

-

ZZZD.TO
1.2%

Compare stocks, funds, or ETFs

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Vanguard U.S. Dividend Appreciation Index ETF CAD-Hedged

BMO Tactical Dividend ETF Fund

Often compared with VGH.TO:
VGH.TO vs. XDIV.TOVGH.TO vs. SCHDVGH.TO vs. VDY.TOVGH.TO vs. TQCD.TOVGH.TO vs. XDUH.TOVGH.TO vs. VCN.TOVGH.TO vs. VGG.TO
Often compared with ZZZD.TO:
ZZZD.TO vs. CWIN.TOZZZD.TO vs. ICAE.TOZZZD.TO vs. IQD.TOZZZD.TO vs. ZUD.TOZZZD.TO vs. DGR.TOZZZD.TO vs. XDIV.TOZZZD.TO vs. XDU.TO

Return for Risk

VGH.TO vs. ZZZD.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VGH.TO
VGH.TO Risk / Return Rank: 5252
Overall Rank
VGH.TO Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
VGH.TO Sortino Ratio Rank: 5757
Sortino Ratio Rank
VGH.TO Omega Ratio Rank: 5353
Omega Ratio Rank
VGH.TO Calmar Ratio Rank: 4343
Calmar Ratio Rank
VGH.TO Martin Ratio Rank: 5353
Martin Ratio Rank
ZZZD.TO
ZZZD.TO Risk / Return Rank: 8383
Overall Rank
ZZZD.TO Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
ZZZD.TO Sortino Ratio Rank: 7777
Sortino Ratio Rank
ZZZD.TO Omega Ratio Rank: 7777
Omega Ratio Rank
ZZZD.TO Calmar Ratio Rank: 9595
Calmar Ratio Rank
ZZZD.TO Martin Ratio Rank: 9393
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.

VGH.TO vs. ZZZD.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 Tactical Dividend ETF Fund (ZZZD.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.

VGH.TOZZZD.TODifference
Sharpe ratioReturn per unit of total volatility
1.50
1.86

-0.36

Sortino ratioReturn per unit of downside risk
2.21
2.80

-0.59

Omega ratioGain probability vs. loss probability

1.27

1.36

-0.09

Calmar ratioReturn relative to maximum drawdown

1.81

5.81

-4.00

Martin ratioReturn relative to average drawdown

7.17

18.85

-11.68

VGH.TO vs. ZZZD.TO - Sharpe Ratio Comparison

The current VGH.TO Sharpe Ratio is 1.50, which is comparable to the ZZZD.TO Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of VGH.TO and ZZZD.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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Drawdowns

VGH.TO vs. ZZZD.TO - Drawdown Comparison

The maximum VGH.TO drawdown since its inception was -32.82%, which is greater than ZZZD.TO's maximum drawdown of -22.28%. Use the drawdown chart below to compare losses from any high point for VGH.TO and ZZZD.TO.

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Drawdown Indicators

VGH.TOZZZD.TODifference

Max Drawdown

Largest peak-to-trough decline

-32.82%

-22.28%

-10.54%

Max Drawdown (1Y)

Largest decline over 1 year

-8.42%

-2.72%

-5.70%

Max Drawdown (3Y)

Largest decline over 3 years

-15.16%

-9.21%

-5.95%

Max Drawdown (5Y)

Largest decline over 5 years

-21.34%

-14.72%

-6.62%

Max Drawdown (10Y)

Largest decline over 10 years

-32.82%

—

—

Current Drawdown

Current decline from peak

-0.37%

-0.40%

+0.03%

Average Drawdown

Average peak-to-trough decline

-3.64%

-4.66%

+1.02%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.12%

0.83%

+1.29%

Volatility

VGH.TO vs. ZZZD.TO - Volatility Comparison

The current volatility for Vanguard U.S. Dividend Appreciation Index ETF CAD-Hedged (VGH.TO) is 1.98%, while BMO Tactical Dividend ETF Fund (ZZZD.TO) has a volatility of 2.34%. This indicates that VGH.TO experiences smaller price fluctuations and is considered to be less risky than ZZZD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VGH.TOZZZD.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.98%

2.34%

-0.36%

Volatility (6M)

Calculated over the trailing 6-month period

7.52%

6.41%

+1.11%

Volatility (1Y)

Calculated over the trailing 1-year period

10.13%

8.47%

+1.66%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.19%

11.17%

+3.02%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.72%

12.63%

+3.09%

Dividends

VGH.TO vs. ZZZD.TO - Dividend Comparison

VGH.TO's dividend yield for the trailing twelve months is around 1.07%, less than ZZZD.TO's 3.72% yield.

PositionTTM20252024202320222021202020192018201720162015
VGH.TO
Vanguard U.S. Dividend Appreciation Index ETF CAD-Hedged		1.07%1.15%1.28%1.34%1.38%1.22%1.21%1.23%1.58%1.39%1.63%1.81%
ZZZD.TO
BMO Tactical Dividend ETF Fund		3.72%4.07%4.29%4.28%4.51%4.27%4.09%3.11%0.00%0.00%0.00%0.00%

Frequently Asked Questions

VGH.TO and ZZZD.TO have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

They also come from different issuers: Vanguard and BMO.

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