VUDV.TO vs. ZDIV.TO

Last updated Jun 5, 2026

VUDV.TO (Vanguard U.S. High Dividend Yield Index ETF) and ZDIV.TO (BMO MSCI Canada IMI High Dividend Yield Index ETF) are both Dividend funds - VUDV.TO tracks the FTSE High Dividend Yield Index while ZDIV.TO tracks the MSCI Canada IMI High Dividend Yield Select Index. Both are passively managed. At a 0.17 correlation, their price movements are largely independent. VUDV.TO charges 0.28%/yr vs 0.09%/yr for ZDIV.TO.

Performance

VUDV.TO vs. ZDIV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard U.S. High Dividend Yield Index ETF (VUDV.TO) and BMO MSCI Canada IMI High Dividend Yield Index ETF (ZDIV.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

VUDV.TO

• 1D: 0.04%
• 1M: 4.45%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ZDIV.TO

• 1D: 0.90%
• 1M: 2.51%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

VUDV.TO vs. ZDIV.TO - Yearly Performance Comparison

	2026 (YTD)
VUDV.TO Vanguard U.S. High Dividend Yield Index ETF	8.98%
ZDIV.TO BMO MSCI Canada IMI High Dividend Yield Index ETF	7.82%

Correlation

The correlation between VUDV.TO and ZDIV.TO is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 26, 2026	0.17

Return for Risk

VUDV.TO vs. ZDIV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard U.S. High Dividend Yield Index ETF (VUDV.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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	VUDV.TO	ZDIV.TO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	7.49	6.01	+1.48

Drawdowns

VUDV.TO vs. ZDIV.TO - Drawdown Comparison

The maximum VUDV.TO drawdown since its inception was -0.68%, smaller than the maximum ZDIV.TO drawdown of -2.60%. Use the drawdown chart below to compare losses from any high point for VUDV.TO and ZDIV.TO.

Drawdown Indicators

	VUDV.TO	ZDIV.TO	Difference
Max Drawdown Largest peak-to-trough decline	-0.68%	-2.60%	+1.92%
Current Drawdown Current decline from peak	0.00%	-0.13%	+0.13%
Average Drawdown Average peak-to-trough decline	-0.16%	-0.49%	+0.33%

Volatility

Volatility by Period

	VUDV.TO	ZDIV.TO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	7.50%	10.01%	-2.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.50%	10.01%	-2.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.50%	10.01%	-2.51%

VUDV.TO vs. ZDIV.TO - Expense Ratio Comparison

VUDV.TO has a 0.28% expense ratio, which is higher than ZDIV.TO's 0.09% expense ratio.

Dividends

VUDV.TO vs. ZDIV.TO - Dividend Comparison

VUDV.TO has not paid dividends to shareholders, while ZDIV.TO's dividend yield for the trailing twelve months is around 0.90%.

Position	TTM
VUDV.TO Vanguard U.S. High Dividend Yield Index ETF	0.00%
ZDIV.TO BMO MSCI Canada IMI High Dividend Yield Index ETF	0.90%

Frequently Asked Questions

Can I hold both VUDV.TO and ZDIV.TO in my portfolio?

VUDV.TO and ZDIV.TO have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VUDV.TO or ZDIV.TO?

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.

Which ETF is cheaper, VUDV.TO or ZDIV.TO?

ZDIV.TO is cheaper with a 0.09% expense ratio, compared with 0.28% for VUDV.TO.

What is the main difference between VUDV.TO and ZDIV.TO?

VUDV.TO tracks FTSE High Dividend Yield Index, 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: 0.28% for VUDV.TO and 0.09% for ZDIV.TO.