VIDY.TO vs. ZWE.TO
VIDY.TO (Vanguard FTSE Developed ex North America High Dividend Yield Index ETF) and ZWE.TO (BMO Europe High Dividend Covered Call Hedged to CAD ETF) are both Foreign Large Cap Equities funds. VIDY.TO is passively managed, while ZWE.TO is actively managed. Over the past 5 years, VIDY.TO returned 15.12%/yr vs 9.16%/yr for ZWE.TO. A 0.57 correlation means they provide meaningful diversification when combined. VIDY.TO charges 0.31%/yr vs 0.65%/yr for ZWE.TO.
Performance
VIDY.TO vs. ZWE.TO - Performance Comparison
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Returns By Period
In the year-to-date period, VIDY.TO achieves a 10.45% return, which is significantly higher than ZWE.TO's 3.89% return.
VIDY.TO
- 1D
- -0.53%
- 1M
- 3.26%
- YTD
- 10.45%
- 6M
- 11.80%
- 1Y
- 27.71%
- 3Y*
- 22.64%
- 5Y*
- 15.12%
- 10Y*
- —
ZWE.TO
- 1D
- -0.28%
- 1M
- 1.89%
- YTD
- 3.89%
- 6M
- 5.73%
- 1Y
- 12.64%
- 3Y*
- 10.05%
- 5Y*
- 9.16%
- 10Y*
- 8.22%
VIDY.TO vs. ZWE.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
VIDY.TO Vanguard FTSE Developed ex North America High Dividend Yield Index ETF | 10.45% | 34.37% | 13.41% | 15.46% | 1.54% | 14.21% | -2.65% | 13.21% | -5.68% |
ZWE.TO BMO Europe High Dividend Covered Call Hedged to CAD ETF | 3.89% | 14.25% | 7.16% | 14.84% | 0.29% | 19.26% | -8.67% | 22.06% | -12.01% |
Correlation
The correlation between VIDY.TO and ZWE.TO is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Aug 29, 2018 | 0.57 |
The correlation between VIDY.TO and ZWE.TO has been stable across timeframes, ranging from 0.57 to 0.65 - a consistent structural relationship.
VIDY.TO vs. ZWE.TO - Sectors Allocation Comparison
Sectors
VIDY.TO
ZWE.TO
Financial Services
Healthcare
Consumer Defensive
Energy
Consumer Cyclical
Industrials
Utilities
Basic Materials
Communication Services
Technology
Real Estate
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Financial Services
VIDY.TO
ZWE.TO
Healthcare
VIDY.TO
ZWE.TO
Consumer Defensive
VIDY.TO
ZWE.TO
Energy
VIDY.TO
ZWE.TO
Consumer Cyclical
VIDY.TO
ZWE.TO
Industrials
VIDY.TO
ZWE.TO
Utilities
VIDY.TO
ZWE.TO
Basic Materials
VIDY.TO
ZWE.TO
Communication Services
VIDY.TO
ZWE.TO
Technology
VIDY.TO
ZWE.TO
Real Estate
VIDY.TO
ZWE.TO
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Return for Risk
VIDY.TO vs. ZWE.TO — Risk / Return Rank
VIDY.TO
ZWE.TO
VIDY.TO vs. ZWE.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed ex North America High Dividend Yield Index ETF (VIDY.TO) and BMO Europe High Dividend Covered Call Hedged to CAD ETF (ZWE.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.
| VIDY.TO | ZWE.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.96 | ||
| Sortino ratioReturn per unit of downside risk | +1.33 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.21 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.66 | 1.33 | +1.33 |
| Martin ratioReturn relative to average drawdown | 10.28 | 4.81 | +5.47 |
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
| VIDY.TO | ZWE.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.11 | 1.15 | +0.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.13 | 0.73 | +0.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.54 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 0.49 | +0.23 |
Drawdowns
VIDY.TO vs. ZWE.TO - Drawdown Comparison
The maximum VIDY.TO drawdown since its inception was -31.99%, smaller than the maximum ZWE.TO drawdown of -35.38%. Use the drawdown chart below to compare losses from any high point for VIDY.TO and ZWE.TO.
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Drawdown Indicators
| VIDY.TO | ZWE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.99% | -35.38% | +3.39% |
Max Drawdown (1Y)Largest decline over 1 year | -10.48% | -9.56% | -0.92% |
Max Drawdown (3Y)Largest decline over 3 years | -13.89% | -13.60% | -0.29% |
Max Drawdown (5Y)Largest decline over 5 years | -19.02% | -13.60% | -5.42% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.38% | — |
Current DrawdownCurrent decline from peak | -2.28% | -1.97% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -4.25% | -4.14% | -0.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.70% | 2.63% | +0.07% |
Volatility
VIDY.TO vs. ZWE.TO - Volatility Comparison
Vanguard FTSE Developed ex North America High Dividend Yield Index ETF (VIDY.TO) has a higher volatility of 4.18% compared to BMO Europe High Dividend Covered Call Hedged to CAD ETF (ZWE.TO) at 2.98%. This indicates that VIDY.TO's price experiences larger fluctuations and is considered to be riskier than ZWE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VIDY.TO | ZWE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.18% | 2.98% | +1.20% |
Volatility (6M)Calculated over the trailing 6-month period | 10.59% | 8.72% | +1.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.21% | 11.00% | +2.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.41% | 12.55% | +0.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.44% | 15.40% | +1.04% |
VIDY.TO vs. ZWE.TO - Expense Ratio Comparison
VIDY.TO has a 0.31% expense ratio, which is lower than ZWE.TO's 0.65% expense ratio.
Dividends
VIDY.TO vs. ZWE.TO - Dividend Comparison
VIDY.TO's dividend yield for the trailing twelve months is around 2.47%, less than ZWE.TO's 6.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VIDY.TO Vanguard FTSE Developed ex North America High Dividend Yield Index ETF | 2.47% | 2.80% | 3.59% | 3.89% | 4.37% | 3.28% | 3.34% | 3.36% | 0.93% | 0.00% | 0.00% | 0.00% |
ZWE.TO BMO Europe High Dividend Covered Call Hedged to CAD ETF | 6.74% | 6.81% | 7.25% | 7.25% | 6.98% | 6.30% | 7.74% | 6.53% | 7.59% | 6.49% | 6.76% | 2.32% |
Frequently Asked Questions
VIDY.TO and ZWE.TO have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VIDY.TO is cheaper at 0.31% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VIDY.TO is cheaper with a 0.31% expense ratio, compared with 0.65% for ZWE.TO.
They also come from different issuers: Vanguard and BMO. Their fees differ too: 0.31% for VIDY.TO and 0.65% for ZWE.TO.
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