XDIV.TO vs. ZDIV.TO
XDIV.TO (iShares Core MSCI Canadian Quality Dividend Index ETF) and ZDIV.TO (BMO MSCI Canada IMI High Dividend Yield Index ETF) are both Dividend funds - XDIV.TO tracks the MSCI Canada High Dividend Yield 10% Security Capped Index while ZDIV.TO tracks the MSCI Canada IMI High Dividend Yield Select Index. Both are passively managed. A 0.62 correlation means they provide meaningful diversification when combined. XDIV.TO charges 0.11%/yr vs 0.09%/yr for ZDIV.TO.
Performance
XDIV.TO vs. ZDIV.TO - Performance Comparison
Loading charts...
Returns By Period
XDIV.TO
- 1D
- 0.19%
- 1M
- 3.65%
- YTD
- 19.17%
- 6M
- 18.94%
- 1Y
- 38.61%
- 3Y*
- 22.97%
- 5Y*
- 16.42%
- 10Y*
- —
ZDIV.TO
- 1D
- -0.14%
- 1M
- 2.47%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XDIV.TO vs. ZDIV.TO - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
XDIV.TO iShares Core MSCI Canadian Quality Dividend Index ETF | 16.08% |
ZDIV.TO BMO MSCI Canada IMI High Dividend Yield Index ETF | 15.21% |
Correlation
The correlation between XDIV.TO and ZDIV.TO is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Feb 9, 2026 | 0.62 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XDIV.TO vs. ZDIV.TO — Risk / Return Rank
XDIV.TO
ZDIV.TO
XDIV.TO vs. ZDIV.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.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.
| XDIV.TO | ZDIV.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 2.03 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 16.64 | — | — |
| Martin ratioReturn relative to average drawdown | 56.55 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| XDIV.TO | ZDIV.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.94 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.57 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.81 | 5.66 | -4.85 |
Drawdowns
XDIV.TO vs. ZDIV.TO - Drawdown Comparison
The maximum XDIV.TO drawdown since its inception was -41.30%, which is greater than ZDIV.TO's maximum drawdown of -2.60%. Use the drawdown chart below to compare losses from any high point for XDIV.TO and ZDIV.TO.
Loading charts...
Drawdown Indicators
| XDIV.TO | ZDIV.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.30% | -2.60% | -38.70% |
Max Drawdown (1Y)Largest decline over 1 year | -2.33% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -10.53% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -17.60% | — | — |
Current DrawdownCurrent decline from peak | -0.09% | -1.02% | +0.93% |
Average DrawdownAverage peak-to-trough decline | -4.25% | -0.49% | -3.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | — | — |
Volatility
XDIV.TO vs. ZDIV.TO - Volatility Comparison
Loading charts...
Volatility by Period
| XDIV.TO | ZDIV.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.81% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 6.36% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 7.85% | 9.99% | -2.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.53% | 9.99% | +0.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.01% | 9.99% | +6.02% |
XDIV.TO vs. ZDIV.TO - Expense Ratio Comparison
XDIV.TO has a 0.11% expense ratio, which is higher than ZDIV.TO's 0.09% 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
XDIV.TO vs. ZDIV.TO - Dividend Comparison
XDIV.TO's dividend yield for the trailing twelve months is around 3.28%, more than ZDIV.TO's 0.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
XDIV.TO iShares Core MSCI Canadian Quality Dividend Index ETF | 3.28% | 3.81% | 4.29% | 4.20% | 3.95% | 3.58% | 4.58% | 4.02% | 4.85% | 1.82% |
ZDIV.TO BMO MSCI Canada IMI High Dividend Yield Index ETF | 0.90% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XDIV.TO and ZDIV.TO have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
ZDIV.TO is cheaper with a 0.09% expense ratio, compared with 0.11% for XDIV.TO.
XDIV.TO tracks MSCI Canada High Dividend Yield 10% Security Capped Index, while ZDIV.TO tracks MSCI Canada IMI High Dividend Yield Select Index. They also come from different issuers: iShares and BMO. Their fees differ too: 0.11% for XDIV.TO and 0.09% for ZDIV.TO.
Find the right allocation for XDIV.TO and ZDIV.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer