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

VUS.TO vs. ZDY.TO

Last updated Jun 4, 2026

VUS.TO (Vanguard U.S. Total Market Index ETF (CAD-hedged)) and ZDY.TO (BMO US Dividend ETF (CAD)) are both exchange-traded funds - VUS.TO is a Large Cap Blend Equities fund tracking the CRSP US Total Market Index, while ZDY.TO is a Dividend fund actively managed by BMO. VUS.TO is passively managed, while ZDY.TO is actively managed. Over the past 10 years, VUS.TO returned 13.09%/yr vs 11.07%/yr for ZDY.TO. A 0.58 correlation means they provide meaningful diversification when combined. VUS.TO charges 0.17%/yr vs 0.30%/yr for ZDY.TO.

Performance

VUS.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 (CAD-hedged) (VUS.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, VUS.TO achieves a 9.96% return, which is significantly lower than ZDY.TO's 18.13% return. Over the past 10 years, VUS.TO has outperformed ZDY.TO with an annualized return of 13.09%, while ZDY.TO has yielded a comparatively lower 11.07% annualized return.

VUS.TO

1D
-0.73%
1M
4.98%
YTD
9.96%
6M
8.19%
1Y
23.82%
3Y*
19.29%
5Y*
10.63%
10Y*
13.09%

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)

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

2026 (YTD)202520242023202220212020201920182017
VUS.TO
Vanguard U.S. Total Market Index ETF (CAD-hedged)		9.96%13.31%22.11%24.21%-20.86%24.87%17.67%29.30%-7.35%20.26%
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 VUS.TO and ZDY.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

0.62

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

0.64

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

0.63

Correlation (All Time)
Calculated using the full available price history since Apr 1, 2013

0.58

The correlation between VUS.TO and ZDY.TO has been stable across timeframes, ranging from 0.58 to 0.65 - a consistent structural relationship.

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

Sectors
VUS.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

VUS.TO
31.5%
ZDY.TO
29.0%

Financial Services

VUS.TO
12.5%
ZDY.TO
9.5%

Healthcare

VUS.TO
10.2%
ZDY.TO
11.9%

Consumer Cyclical

VUS.TO
10.0%
ZDY.TO
5.4%

Industrials

VUS.TO
9.9%
ZDY.TO
4.4%

Communication Services

VUS.TO
9.7%
ZDY.TO
6.9%

Consumer Defensive

VUS.TO
5.0%
ZDY.TO
9.5%

Energy

VUS.TO
4.2%
ZDY.TO
9.8%

Utilities

VUS.TO
2.5%
ZDY.TO
6.4%

Real Estate

VUS.TO
2.5%
ZDY.TO
5.6%

Basic Materials

VUS.TO
2.2%
ZDY.TO
1.6%

Compare stocks, funds, or ETFs

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Vanguard U.S. Total Market Index ETF (CAD-hedged)

BMO US Dividend ETF (CAD)

Often compared with VUS.TO:
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Often compared with ZDY.TO:
ZDY.TO vs. VDY.TOZDY.TO vs. ZDV.TOZDY.TO vs. SCHDZDY.TO vs. ZLU.TOZDY.TO vs. VIGZDY.TO vs. ZGRO.TOZDY.TO vs. XEI.TO

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VUS.TO
VUS.TO Risk / Return Rank: 5757
Overall Rank
VUS.TO Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
VUS.TO Sortino Ratio Rank: 5757
Sortino Ratio Rank
VUS.TO Omega Ratio Rank: 5757
Omega Ratio Rank
VUS.TO Calmar Ratio Rank: 5151
Calmar Ratio Rank
VUS.TO Martin Ratio Rank: 6262
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.

VUS.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 (CAD-hedged) (VUS.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.

VUS.TOZDY.TODifference
Sharpe ratioReturn per unit of total volatility
1.94
2.28

-0.34

Sortino ratioReturn per unit of downside risk
2.69
2.97

-0.27

Omega ratioGain probability vs. loss probability

1.35

1.44

-0.09

Calmar ratioReturn relative to maximum drawdown

2.47

3.98

-1.51

Martin ratioReturn relative to average drawdown

10.99

13.78

-2.80

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

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

The current VUS.TO Sharpe Ratio is 1.94, which is comparable to the ZDY.TO Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of VUS.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

VUS.TOZDY.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.94

2.28

-0.34

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.62

1.12

-0.50

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.73

0.73

-0.01

Sharpe Ratio (All Time)

Calculated using the full available price history

0.80

0.95

-0.15

Drawdowns

VUS.TO vs. ZDY.TO - Drawdown Comparison

The maximum VUS.TO drawdown since its inception was -36.70%, which is greater than ZDY.TO's maximum drawdown of -33.01%. Use the drawdown chart below to compare losses from any high point for VUS.TO and ZDY.TO.

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Drawdown Indicators

VUS.TOZDY.TODifference

Max Drawdown

Largest peak-to-trough decline

-36.70%

-33.01%

-3.69%

Max Drawdown (1Y)

Largest decline over 1 year

-9.68%

-6.78%

-2.90%

Max Drawdown (3Y)

Largest decline over 3 years

-19.21%

-15.32%

-3.89%

Max Drawdown (5Y)

Largest decline over 5 years

-26.25%

-15.32%

-10.93%

Max Drawdown (10Y)

Largest decline over 10 years

-36.70%

-33.01%

-3.69%

Current Drawdown

Current decline from peak

-0.73%

-0.19%

-0.54%

Average Drawdown

Average peak-to-trough decline

-4.33%

-3.30%

-1.03%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.17%

1.96%

+0.21%

Volatility

VUS.TO vs. ZDY.TO - Volatility Comparison

The current volatility for Vanguard U.S. Total Market Index ETF (CAD-hedged) (VUS.TO) is 3.14%, while BMO US Dividend ETF (CAD) (ZDY.TO) has a volatility of 4.73%. This indicates that VUS.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

VUS.TOZDY.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.14%

4.73%

-1.59%

Volatility (6M)

Calculated over the trailing 6-month period

9.38%

9.85%

-0.47%

Volatility (1Y)

Calculated over the trailing 1-year period

12.34%

11.85%

+0.49%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.22%

12.17%

+5.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.08%

15.18%

+2.90%

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

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

Dividends

VUS.TO vs. ZDY.TO - Dividend Comparison

VUS.TO's dividend yield for the trailing twelve months is around 0.75%, less than ZDY.TO's 1.46% yield.

PositionTTM20252024202320222021202020192018201720162015
VUS.TO
Vanguard U.S. Total Market Index ETF (CAD-hedged)		0.75%0.84%0.97%1.07%1.23%0.95%1.11%1.39%1.60%1.32%1.49%1.59%
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

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

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

VUS.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 VUS.TO and 0.30% for ZDY.TO.

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