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XDGH.TO vs. ZEQT.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XDGH.TO vs. ZEQT.TO

Last updated Jun 4, 2026

XDGH.TO (iShares Core MSCI Global Quality Dividend Index ETF (CAD-Hedged)) and ZEQT.TO (BMO All-Equity ETF) are both Global Equities funds. XDGH.TO is passively managed, while ZEQT.TO is actively managed. Over the past 3 years, XDGH.TO returned 12.90%/yr vs 22.90%/yr for ZEQT.TO. A 0.51 correlation means they provide meaningful diversification when combined. XDGH.TO charges 0.22%/yr vs 0.20%/yr for ZEQT.TO.

Performance

XDGH.TO vs. ZEQT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core MSCI Global Quality Dividend Index ETF (CAD-Hedged) (XDGH.TO) and BMO All-Equity ETF (ZEQT.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, XDGH.TO achieves a 7.16% return, which is significantly lower than ZEQT.TO's 13.04% return.

XDGH.TO

1D
0.16%
1M
2.01%
YTD
7.16%
6M
8.39%
1Y
17.12%
3Y*
12.90%
5Y*
8.12%
10Y*
—

ZEQT.TO

1D
-0.43%
1M
6.38%
YTD
13.04%
6M
12.85%
1Y
31.85%
3Y*
22.90%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XDGH.TO vs. ZEQT.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022
XDGH.TO
iShares Core MSCI Global Quality Dividend Index ETF (CAD-Hedged)		7.16%14.60%10.46%8.74%-0.61%
ZEQT.TO
BMO All-Equity ETF		13.04%19.67%25.44%16.79%-5.55%

Correlation

The correlation between XDGH.TO and ZEQT.TO is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.48

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

0.54

Correlation (All Time)
Calculated using the full available price history since Jan 28, 2022

0.51

The correlation between XDGH.TO and ZEQT.TO has been stable across timeframes, ranging from 0.48 to 0.54 - a consistent structural relationship.

XDGH.TO vs. ZEQT.TO - Sectors Allocation Comparison

Sectors
XDGH.TO
ZEQT.TO

Healthcare

16.9%
6.9%

Consumer Defensive

14.8%
4.7%

Financial Services

13.2%
19.8%

Industrials

12.6%
11.2%

Energy

10.3%
7.4%

Technology

9.6%
22.4%

Consumer Cyclical

9.4%
8.3%

Utilities

5.6%
2.9%

Communication Services

3.3%
6.8%

Basic Materials

2.4%
7.4%

Real Estate

0.2%
2.0%

Healthcare

XDGH.TO
16.9%
ZEQT.TO
6.9%

Consumer Defensive

XDGH.TO
14.8%
ZEQT.TO
4.7%

Financial Services

XDGH.TO
13.2%
ZEQT.TO
19.8%

Industrials

XDGH.TO
12.6%
ZEQT.TO
11.2%

Energy

XDGH.TO
10.3%
ZEQT.TO
7.4%

Technology

XDGH.TO
9.6%
ZEQT.TO
22.4%

Consumer Cyclical

XDGH.TO
9.4%
ZEQT.TO
8.3%

Utilities

XDGH.TO
5.6%
ZEQT.TO
2.9%

Communication Services

XDGH.TO
3.3%
ZEQT.TO
6.8%

Basic Materials

XDGH.TO
2.4%
ZEQT.TO
7.4%

Real Estate

XDGH.TO
0.2%
ZEQT.TO
2.0%

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iShares Core MSCI Global Quality Dividend Index ETF (CAD-Hedged)

BMO All-Equity ETF

Often compared with XDGH.TO:
XDGH.TO vs. XDG.TOXDGH.TO vs. XHD.TOXDGH.TO vs. XEQT.TOXDGH.TO vs. XDUH.TOXDGH.TO vs. VFV.TOXDGH.TO vs. VIDY.TOXDGH.TO vs. ACWV
Often compared with ZEQT.TO:
ZEQT.TO vs. XEQT.TOZEQT.TO vs. VEQT.TOZEQT.TO vs. ZSP.TOZEQT.TO vs. VFV.TOZEQT.TO vs. HEQT.TOZEQT.TO vs. VGRO.TOZEQT.TO vs. TEQT.TO

Return for Risk

XDGH.TO vs. ZEQT.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XDGH.TO
XDGH.TO Risk / Return Rank: 5252
Overall Rank
XDGH.TO Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
XDGH.TO Sortino Ratio Rank: 5757
Sortino Ratio Rank
XDGH.TO Omega Ratio Rank: 5151
Omega Ratio Rank
XDGH.TO Calmar Ratio Rank: 5555
Calmar Ratio Rank
XDGH.TO Martin Ratio Rank: 4848
Martin Ratio Rank
ZEQT.TO
ZEQT.TO Risk / Return Rank: 7575
Overall Rank
ZEQT.TO Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
ZEQT.TO Sortino Ratio Rank: 7676
Sortino Ratio Rank
ZEQT.TO Omega Ratio Rank: 7676
Omega Ratio Rank
ZEQT.TO Calmar Ratio Rank: 7272
Calmar Ratio Rank
ZEQT.TO Martin Ratio Rank: 7878
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.

XDGH.TO vs. ZEQT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Global Quality Dividend Index ETF (CAD-Hedged) (XDGH.TO) and BMO All-Equity ETF (ZEQT.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.

XDGH.TOZEQT.TODifference
Sharpe ratioReturn per unit of total volatility
1.78
2.51

-0.73

Sortino ratioReturn per unit of downside risk
2.69
3.49

-0.80

Omega ratioGain probability vs. loss probability

1.32

1.46

-0.15

Calmar ratioReturn relative to maximum drawdown

2.69

3.67

-0.97

Martin ratioReturn relative to average drawdown

8.01

15.48

-7.47

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

XDGH.TO vs. ZEQT.TO - Sharpe Ratio Comparison

The current XDGH.TO Sharpe Ratio is 1.78, which is comparable to the ZEQT.TO Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of XDGH.TO and ZEQT.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

XDGH.TOZEQT.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.78

2.51

-0.73

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.67

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.54

1.19

-0.66

Drawdowns

XDGH.TO vs. ZEQT.TO - Drawdown Comparison

The maximum XDGH.TO drawdown since its inception was -32.99%, which is greater than ZEQT.TO's maximum drawdown of -16.87%. Use the drawdown chart below to compare losses from any high point for XDGH.TO and ZEQT.TO.

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Drawdown Indicators

XDGH.TOZEQT.TODifference

Max Drawdown

Largest peak-to-trough decline

-32.99%

-16.87%

-16.12%

Max Drawdown (1Y)

Largest decline over 1 year

-6.38%

-8.72%

+2.34%

Max Drawdown (3Y)

Largest decline over 3 years

-11.96%

-15.34%

+3.38%

Max Drawdown (5Y)

Largest decline over 5 years

-14.56%

—

—

Current Drawdown

Current decline from peak

-2.25%

-1.16%

-1.09%

Average Drawdown

Average peak-to-trough decline

-3.63%

-3.01%

-0.62%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.14%

2.06%

+0.08%

Volatility

XDGH.TO vs. ZEQT.TO - Volatility Comparison

The current volatility for iShares Core MSCI Global Quality Dividend Index ETF (CAD-Hedged) (XDGH.TO) is 2.55%, while BMO All-Equity ETF (ZEQT.TO) has a volatility of 5.22%. This indicates that XDGH.TO experiences smaller price fluctuations and is considered to be less risky than ZEQT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XDGH.TOZEQT.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.55%

5.22%

-2.67%

Volatility (6M)

Calculated over the trailing 6-month period

6.84%

10.46%

-3.62%

Volatility (1Y)

Calculated over the trailing 1-year period

9.67%

12.75%

-3.08%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.14%

13.85%

-1.71%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.60%

13.85%

+0.75%

XDGH.TO vs. ZEQT.TO - Expense Ratio Comparison

XDGH.TO has a 0.22% expense ratio, which is higher than ZEQT.TO's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XDGH.TO vs. ZEQT.TO - Dividend Comparison

XDGH.TO's dividend yield for the trailing twelve months is around 2.81%, more than ZEQT.TO's 1.28% yield.

PositionTTM202520242023202220212020201920182017
XDGH.TO
iShares Core MSCI Global Quality Dividend Index ETF (CAD-Hedged)		2.81%2.81%3.04%3.41%3.18%3.05%3.24%2.82%3.29%0.81%
ZEQT.TO
BMO All-Equity ETF		1.28%1.45%1.69%2.13%2.43%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

XDGH.TO and ZEQT.TO have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZEQT.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZEQT.TO is cheaper with a 0.20% expense ratio, compared with 0.22% for XDGH.TO.

They also come from different issuers: iShares and BMO. Their fees differ too: 0.22% for XDGH.TO and 0.20% for ZEQT.TO.

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