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VIU.TO vs. ZDI.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VIU.TO vs. ZDI.TO

Last updated Jun 4, 2026

VIU.TO (Vanguard FTSE Developed All Cap ex North America Index ETF) and ZDI.TO (BMO International Dividend ETF) are both International Equity funds. VIU.TO is passively managed, while ZDI.TO is actively managed. Over the past 10 years, VIU.TO returned 10.41%/yr vs 9.28%/yr for ZDI.TO. Their correlation of 0.85 suggests significant overlap in exposure. VIU.TO charges 0.23%/yr vs 0.44%/yr for ZDI.TO.

Performance

VIU.TO vs. ZDI.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Developed All Cap ex North America Index ETF (VIU.TO) and BMO International Dividend ETF (ZDI.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, VIU.TO achieves a 16.73% return, which is significantly higher than ZDI.TO's 10.68% return. Over the past 10 years, VIU.TO has outperformed ZDI.TO with an annualized return of 10.41%, while ZDI.TO has yielded a comparatively lower 9.28% annualized return.

VIU.TO

1D
-0.44%
1M
7.93%
YTD
16.73%
6M
17.50%
1Y
33.05%
3Y*
20.38%
5Y*
11.99%
10Y*
10.41%

ZDI.TO

1D
-0.03%
1M
4.16%
YTD
10.68%
6M
9.50%
1Y
21.55%
3Y*
17.08%
5Y*
12.72%
10Y*
9.28%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VIU.TO vs. ZDI.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VIU.TO
Vanguard FTSE Developed All Cap ex North America Index ETF		16.73%27.83%10.72%15.66%-10.63%9.74%7.56%15.30%-7.39%19.22%
ZDI.TO
BMO International Dividend ETF		10.68%22.48%10.57%17.05%0.31%12.87%-6.21%12.96%-6.84%15.07%

Correlation

The correlation between VIU.TO and ZDI.TO is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.89

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

0.88

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

0.88

Correlation (10Y)
Calculated over the trailing 10-year period

0.87

Correlation (All Time)
Calculated using the full available price history since Dec 9, 2015

0.85

The correlation between VIU.TO and ZDI.TO has been stable across timeframes, ranging from 0.85 to 0.89 - a consistent structural relationship.

VIU.TO vs. ZDI.TO - Sectors Allocation Comparison

Sectors
VIU.TO
ZDI.TO

Financial Services

25.6%
25.0%

Technology

18.4%
4.9%

Industrials

17.1%
19.3%

Healthcare

10.7%
8.4%

Consumer Defensive

6.1%
7.7%

Consumer Cyclical

6.0%
6.3%

Basic Materials

4.7%
4.9%

Energy

4.1%
7.1%

Communication Services

3.1%
7.0%

Utilities

2.9%
6.5%

Real Estate

0.6%
2.9%

Financial Services

VIU.TO
25.6%
ZDI.TO
25.0%

Technology

VIU.TO
18.4%
ZDI.TO
4.9%

Industrials

VIU.TO
17.1%
ZDI.TO
19.3%

Healthcare

VIU.TO
10.7%
ZDI.TO
8.4%

Consumer Defensive

VIU.TO
6.1%
ZDI.TO
7.7%

Consumer Cyclical

VIU.TO
6.0%
ZDI.TO
6.3%

Basic Materials

VIU.TO
4.7%
ZDI.TO
4.9%

Energy

VIU.TO
4.1%
ZDI.TO
7.1%

Communication Services

VIU.TO
3.1%
ZDI.TO
7.0%

Utilities

VIU.TO
2.9%
ZDI.TO
6.5%

Real Estate

VIU.TO
0.6%
ZDI.TO
2.9%

Compare stocks, funds, or ETFs

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Vanguard FTSE Developed All Cap ex North America Index ETF

BMO International Dividend ETF

Often compared with VIU.TO:
VIU.TO vs. XEF.TOVIU.TO vs. VIDY.TOVIU.TO vs. VCN.TOVIU.TO vs. VDU.TOVIU.TO vs. VFV.TOVIU.TO vs. XEQT.TOVIU.TO vs. VEQT.TO
Often compared with ZDI.TO:
ZDI.TO vs. XEI.TOZDI.TO vs. VFV.TOZDI.TO vs. ZEM.TOZDI.TO vs. HXX.TOZDI.TO vs. VYMIZDI.TO vs. XEF.TOZDI.TO vs. ZDH.TO

Return for Risk

VIU.TO vs. ZDI.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VIU.TO
VIU.TO Risk / Return Rank: 6262
Overall Rank
VIU.TO Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
VIU.TO Sortino Ratio Rank: 6363
Sortino Ratio Rank
VIU.TO Omega Ratio Rank: 6666
Omega Ratio Rank
VIU.TO Calmar Ratio Rank: 5656
Calmar Ratio Rank
VIU.TO Martin Ratio Rank: 6262
Martin Ratio Rank
ZDI.TO
ZDI.TO Risk / Return Rank: 4646
Overall Rank
ZDI.TO Sharpe Ratio Rank: 4545
Sharpe Ratio Rank
ZDI.TO Sortino Ratio Rank: 4545
Sortino Ratio Rank
ZDI.TO Omega Ratio Rank: 4747
Omega Ratio Rank
ZDI.TO Calmar Ratio Rank: 4343
Calmar Ratio Rank
ZDI.TO Martin Ratio Rank: 4949
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.

VIU.TO vs. ZDI.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed All Cap ex North America Index ETF (VIU.TO) and BMO International Dividend ETF (ZDI.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.

VIU.TOZDI.TODifference
Sharpe ratioReturn per unit of total volatility
2.17
1.61

+0.56

Sortino ratioReturn per unit of downside risk
3.01
2.27

+0.74

Omega ratioGain probability vs. loss probability

1.41

1.30

+0.11

Calmar ratioReturn relative to maximum drawdown

2.83

2.12

+0.71

Martin ratioReturn relative to average drawdown

11.39

8.20

+3.20

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

VIU.TO vs. ZDI.TO - Sharpe Ratio Comparison

The current VIU.TO Sharpe Ratio is 2.17, which is higher than the ZDI.TO Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of VIU.TO and ZDI.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

VIU.TOZDI.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.17

1.61

+0.56

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.87

0.98

-0.11

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.69

0.59

+0.10

Sharpe Ratio (All Time)

Calculated using the full available price history

0.62

0.53

+0.09

Drawdowns

VIU.TO vs. ZDI.TO - Drawdown Comparison

The maximum VIU.TO drawdown since its inception was -29.15%, smaller than the maximum ZDI.TO drawdown of -33.89%. Use the drawdown chart below to compare losses from any high point for VIU.TO and ZDI.TO.

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Drawdown Indicators

VIU.TOZDI.TODifference

Max Drawdown

Largest peak-to-trough decline

-29.15%

-33.89%

+4.74%

Max Drawdown (1Y)

Largest decline over 1 year

-11.74%

-10.23%

-1.51%

Max Drawdown (3Y)

Largest decline over 3 years

-14.26%

-14.11%

-0.15%

Max Drawdown (5Y)

Largest decline over 5 years

-25.35%

-18.97%

-6.38%

Max Drawdown (10Y)

Largest decline over 10 years

-29.15%

-33.89%

+4.74%

Current Drawdown

Current decline from peak

-0.44%

-2.23%

+1.79%

Average Drawdown

Average peak-to-trough decline

-5.34%

-4.85%

-0.49%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.91%

2.64%

+0.27%

Volatility

VIU.TO vs. ZDI.TO - Volatility Comparison

Vanguard FTSE Developed All Cap ex North America Index ETF (VIU.TO) has a higher volatility of 5.83% compared to BMO International Dividend ETF (ZDI.TO) at 4.92%. This indicates that VIU.TO's price experiences larger fluctuations and is considered to be riskier than ZDI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VIU.TOZDI.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.83%

4.92%

+0.91%

Volatility (6M)

Calculated over the trailing 6-month period

13.08%

10.96%

+2.12%

Volatility (1Y)

Calculated over the trailing 1-year period

15.31%

13.46%

+1.85%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.90%

13.11%

+0.79%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.12%

15.80%

-0.68%

VIU.TO vs. ZDI.TO - Expense Ratio Comparison

VIU.TO has a 0.23% expense ratio, which is lower than ZDI.TO's 0.44% expense ratio.

Dividends

VIU.TO vs. ZDI.TO - Dividend Comparison

VIU.TO's dividend yield for the trailing twelve months is around 2.16%, less than ZDI.TO's 3.05% yield.

PositionTTM20252024202320222021202020192018201720162015
VIU.TO
Vanguard FTSE Developed All Cap ex North America Index ETF		2.16%2.48%2.55%2.65%2.75%2.37%1.97%2.67%2.75%2.12%1.71%0.27%
ZDI.TO
BMO International Dividend ETF		3.05%3.34%3.94%4.15%3.99%3.72%4.96%4.92%5.23%4.23%4.62%4.26%

Frequently Asked Questions

VIU.TO and ZDI.TO have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VIU.TO is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VIU.TO is cheaper with a 0.23% expense ratio, compared with 0.44% for ZDI.TO.

They also come from different issuers: Vanguard and BMO. Their fees differ too: 0.23% for VIU.TO and 0.44% for ZDI.TO.

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