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VUN.TO vs. ZDY.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VUN.TO vs. ZDY.TO

Last updated Jun 4, 2026

VUN.TO (Vanguard U.S. Total Market Index ETF) and ZDY.TO (BMO US Dividend ETF (CAD)) are both exchange-traded funds - VUN.TO is a Large Cap Blend Equities fund tracking the CRSP US Total Market Index CAD, while ZDY.TO is a Dividend fund actively managed by BMO. VUN.TO is passively managed, while ZDY.TO is actively managed. Over the past 10 years, VUN.TO returned 15.43%/yr vs 11.07%/yr for ZDY.TO. A 0.78 correlation means they provide meaningful diversification when combined. VUN.TO charges 0.17%/yr vs 0.30%/yr for ZDY.TO.

Performance

VUN.TO vs. ZDY.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard U.S. Total Market Index ETF (VUN.TO) and BMO US Dividend ETF (CAD) (ZDY.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, VUN.TO achieves a 12.43% return, which is significantly lower than ZDY.TO's 18.13% return. Over the past 10 years, VUN.TO has outperformed ZDY.TO with an annualized return of 15.43%, while ZDY.TO has yielded a comparatively lower 11.07% annualized return.

VUN.TO

1D
-0.39%
1M
7.17%
YTD
12.43%
6M
10.44%
1Y
29.34%
3Y*
23.05%
5Y*
15.50%
10Y*
15.43%

ZDY.TO

1D
-0.12%
1M
9.13%
YTD
18.13%
6M
10.45%
1Y
26.90%
3Y*
18.28%
5Y*
13.55%
10Y*
11.07%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VUN.TO vs. ZDY.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VUN.TO
Vanguard U.S. Total Market Index ETF		12.43%11.43%33.76%23.00%-14.20%24.54%18.22%23.99%2.35%13.01%
ZDY.TO
BMO US Dividend ETF (CAD)		18.13%4.45%26.22%4.58%1.64%22.92%-5.18%16.96%3.22%6.74%

Correlation

The correlation between VUN.TO and ZDY.TO is 0.71, 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

0.71

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

0.72

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

0.75

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

0.78

Correlation (All Time)
Calculated using the full available price history since Aug 13, 2013

0.78

The correlation between VUN.TO and ZDY.TO has been stable across timeframes, ranging from 0.71 to 0.78 - a consistent structural relationship.

VUN.TO vs. ZDY.TO - Sectors Allocation Comparison

Sectors
VUN.TO
ZDY.TO

Technology

31.5%
29.0%

Financial Services

12.5%
9.5%

Healthcare

10.2%
11.9%

Consumer Cyclical

10.0%
5.4%

Industrials

9.9%
4.4%

Communication Services

9.7%
6.9%

Consumer Defensive

5.0%
9.5%

Energy

4.2%
9.8%

Utilities

2.5%
6.4%

Real Estate

2.5%
5.6%

Basic Materials

2.2%
1.6%

Technology

VUN.TO
31.5%
ZDY.TO
29.0%

Financial Services

VUN.TO
12.5%
ZDY.TO
9.5%

Healthcare

VUN.TO
10.2%
ZDY.TO
11.9%

Consumer Cyclical

VUN.TO
10.0%
ZDY.TO
5.4%

Industrials

VUN.TO
9.9%
ZDY.TO
4.4%

Communication Services

VUN.TO
9.7%
ZDY.TO
6.9%

Consumer Defensive

VUN.TO
5.0%
ZDY.TO
9.5%

Energy

VUN.TO
4.2%
ZDY.TO
9.8%

Utilities

VUN.TO
2.5%
ZDY.TO
6.4%

Real Estate

VUN.TO
2.5%
ZDY.TO
5.6%

Basic Materials

VUN.TO
2.2%
ZDY.TO
1.6%

Compare stocks, funds, or ETFs

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Vanguard U.S. Total Market Index ETF

BMO US Dividend ETF (CAD)

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Return for Risk

VUN.TO vs. ZDY.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VUN.TO
VUN.TO Risk / Return Rank: 7272
Overall Rank
VUN.TO Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
VUN.TO Sortino Ratio Rank: 7373
Sortino Ratio Rank
VUN.TO Omega Ratio Rank: 7474
Omega Ratio Rank
VUN.TO Calmar Ratio Rank: 6868
Calmar Ratio Rank
VUN.TO Martin Ratio Rank: 6969
Martin Ratio Rank
ZDY.TO
ZDY.TO Risk / Return Rank: 7171
Overall Rank
ZDY.TO Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
ZDY.TO Sortino Ratio Rank: 6262
Sortino Ratio Rank
ZDY.TO Omega Ratio Rank: 7272
Omega Ratio Rank
ZDY.TO Calmar Ratio Rank: 7878
Calmar Ratio Rank
ZDY.TO Martin Ratio Rank: 7373
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.

VUN.TO vs. ZDY.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard U.S. Total Market Index ETF (VUN.TO) and BMO US Dividend ETF (CAD) (ZDY.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.

VUN.TOZDY.TODifference
Sharpe ratioReturn per unit of total volatility
2.47
2.28

+0.18

Sortino ratioReturn per unit of downside risk
3.39
2.97

+0.43

Omega ratioGain probability vs. loss probability

1.45

1.44

+0.01

Calmar ratioReturn relative to maximum drawdown

3.46

3.98

-0.52

Martin ratioReturn relative to average drawdown

12.96

13.78

-0.82

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

VUN.TO vs. ZDY.TO - Sharpe Ratio Comparison

The current VUN.TO Sharpe Ratio is 2.47, which is comparable to the ZDY.TO Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of VUN.TO and ZDY.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

VUN.TOZDY.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.47

2.28

+0.18

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.01

1.12

-0.11

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.93

0.73

+0.20

Sharpe Ratio (All Time)

Calculated using the full available price history

1.01

0.95

+0.05

Drawdowns

VUN.TO vs. ZDY.TO - Drawdown Comparison

The maximum VUN.TO drawdown since its inception was -28.19%, smaller than the maximum ZDY.TO drawdown of -33.01%. Use the drawdown chart below to compare losses from any high point for VUN.TO and ZDY.TO.

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Drawdown Indicators

VUN.TOZDY.TODifference

Max Drawdown

Largest peak-to-trough decline

-28.19%

-33.01%

+4.82%

Max Drawdown (1Y)

Largest decline over 1 year

-8.51%

-6.78%

-1.73%

Max Drawdown (3Y)

Largest decline over 3 years

-19.88%

-15.32%

-4.56%

Max Drawdown (5Y)

Largest decline over 5 years

-23.67%

-15.32%

-8.35%

Max Drawdown (10Y)

Largest decline over 10 years

-28.19%

-33.01%

+4.82%

Current Drawdown

Current decline from peak

-0.39%

-0.19%

-0.20%

Average Drawdown

Average peak-to-trough decline

-3.80%

-3.30%

-0.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.27%

1.96%

+0.31%

Volatility

VUN.TO vs. ZDY.TO - Volatility Comparison

The current volatility for Vanguard U.S. Total Market Index ETF (VUN.TO) is 3.04%, while BMO US Dividend ETF (CAD) (ZDY.TO) has a volatility of 4.73%. This indicates that VUN.TO experiences smaller price fluctuations and is considered to be less risky than ZDY.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VUN.TOZDY.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.04%

4.73%

-1.69%

Volatility (6M)

Calculated over the trailing 6-month period

8.81%

9.85%

-1.04%

Volatility (1Y)

Calculated over the trailing 1-year period

11.97%

11.85%

+0.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.43%

12.17%

+3.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.70%

15.18%

+1.52%

VUN.TO vs. ZDY.TO - Expense Ratio Comparison

VUN.TO has a 0.17% expense ratio, which is lower than ZDY.TO's 0.30% expense ratio.

Dividends

VUN.TO vs. ZDY.TO - Dividend Comparison

VUN.TO's dividend yield for the trailing twelve months is around 0.74%, less than ZDY.TO's 1.46% yield.

PositionTTM20252024202320222021202020192018201720162015
VUN.TO
Vanguard U.S. Total Market Index ETF		0.74%0.84%0.93%1.10%1.21%0.97%1.15%1.45%1.52%1.39%1.49%1.49%
ZDY.TO
BMO US Dividend ETF (CAD)		1.46%1.72%1.97%2.43%2.48%2.33%3.65%3.02%2.80%2.63%2.46%2.54%

Frequently Asked Questions

VUN.TO and ZDY.TO have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VUN.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VUN.TO is cheaper with a 0.17% expense ratio, compared with 0.30% for ZDY.TO.

VUN.TO is categorized as Large Cap Blend Equities, while ZDY.TO is Dividend. They also come from different issuers: Vanguard and BMO. Their fees differ too: 0.17% for VUN.TO and 0.30% for ZDY.TO.

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