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XDIV.TO vs. ZZZD.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XDIV.TO vs. ZZZD.TO

Last updated Jul 14, 2026
Documentation

XDIV.TO (iShares Core MSCI Canadian Quality Dividend Index ETF) and ZZZD.TO (BMO Tactical Dividend ETF Fund) are both Dividend funds. XDIV.TO is passively managed, while ZZZD.TO is actively managed. Over the past 5 years, XDIV.TO returned 18.09%/yr vs 6.83%/yr for ZZZD.TO. At a 0.30 correlation, their price movements are largely independent.

Performance

XDIV.TO vs. ZZZD.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO) and BMO Tactical Dividend ETF Fund (ZZZD.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, XDIV.TO achieves a 25.10% return, which is significantly higher than ZZZD.TO's 10.61% return.

XDIV.TO

1D
0.64%
1M
2.67%
6M
23.69%
YTD
25.10%
1Y
42.77%
3Y*
25.16%
5Y*
18.09%
10Y*
—

ZZZD.TO

1D
-0.50%
1M
-0.46%
6M
9.46%
YTD
10.61%
1Y
14.44%
3Y*
10.27%
5Y*
6.83%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XDIV.TO vs. ZZZD.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ETF		25.10%25.04%19.84%11.95%0.49%33.31%-7.53%19.87%
ZZZD.TO
BMO Tactical Dividend ETF Fund		10.61%10.01%3.96%10.10%-0.86%5.24%-9.74%9.67%

Correlation

The correlation between XDIV.TO and ZZZD.TO is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.24

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

0.24

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

0.30

Correlation (All Time)
Calculated using the full available price history since Jan 11, 2019

0.30

XDIV.TO vs. ZZZD.TO - Sectors Allocation Comparison

Sectors
XDIV.TO
ZZZD.TO

Financial Services

46.4%
16.3%

Energy

29.5%
10.2%

Utilities

9.7%
12.4%

Consumer Cyclical

9.4%
4.2%

Communication Services

2.8%
10.5%

Industrials

2.3%
7.6%

Technology

1.3%
16.4%

Basic Materials

-

4.4%

Consumer Defensive

-

4.6%

Healthcare

-

12.3%

Real Estate

-

1.2%

Financial Services

XDIV.TO
46.4%
ZZZD.TO
16.3%

Energy

XDIV.TO
29.5%
ZZZD.TO
10.2%

Utilities

XDIV.TO
9.7%
ZZZD.TO
12.4%

Consumer Cyclical

XDIV.TO
9.4%
ZZZD.TO
4.2%

Communication Services

XDIV.TO
2.8%
ZZZD.TO
10.5%

Industrials

XDIV.TO
2.3%
ZZZD.TO
7.6%

Technology

XDIV.TO
1.3%
ZZZD.TO
16.4%

Basic Materials

XDIV.TO

-

ZZZD.TO
4.4%

Consumer Defensive

XDIV.TO

-

ZZZD.TO
4.6%

Healthcare

XDIV.TO

-

ZZZD.TO
12.3%

Real Estate

XDIV.TO

-

ZZZD.TO
1.2%

Compare stocks, funds, or ETFs

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iShares Core MSCI Canadian Quality Dividend Index ETF

BMO Tactical Dividend ETF Fund

Often compared with XDIV.TO:
XDIV.TO vs. VDY.TOXDIV.TO vs. XEI.TOXDIV.TO vs. XDV.TOXDIV.TO vs. XEQT.TOXDIV.TO vs. HDIV.TOXDIV.TO vs. XIU.TOXDIV.TO vs. CDZ.TO
Often compared with ZZZD.TO:
ZZZD.TO vs. CWIN.TOZZZD.TO vs. ZNQ.TOZZZD.TO vs. ZSP.TOZZZD.TO vs. ZUD.TOZZZD.TO vs. IQD.TOZZZD.TO vs. XDU.TOZZZD.TO vs. ZDV.TO

Return for Risk

XDIV.TO vs. ZZZD.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XDIV.TO
XDIV.TO Risk / Return Rank: 9898
Overall Rank
XDIV.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
XDIV.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
XDIV.TO Omega Ratio Rank: 9898
Omega Ratio Rank
XDIV.TO Calmar Ratio Rank: 9999
Calmar Ratio Rank
XDIV.TO Martin Ratio Rank: 9898
Martin Ratio Rank
ZZZD.TO
ZZZD.TO Risk / Return Rank: 7979
Overall Rank
ZZZD.TO Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
ZZZD.TO Sortino Ratio Rank: 7272
Sortino Ratio Rank
ZZZD.TO Omega Ratio Rank: 7171
Omega Ratio Rank
ZZZD.TO Calmar Ratio Rank: 9494
Calmar Ratio Rank
ZZZD.TO Martin Ratio Rank: 9292
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.

XDIV.TO vs. ZZZD.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 Tactical Dividend ETF Fund (ZZZD.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

XDIV.TOZZZD.TODifference
Sharpe ratioReturn per unit of total volatility
5.06
1.71

+3.34

Sortino ratioReturn per unit of downside risk
7.25
2.59

+4.67

Omega ratioGain probability vs. loss probability

2.05

1.33

+0.72

Calmar ratioReturn relative to maximum drawdown

15.47

5.34

+10.13

Martin ratioReturn relative to average drawdown

50.32

17.40

+32.92

XDIV.TO vs. ZZZD.TO - Sharpe Ratio Comparison

The current XDIV.TO Sharpe Ratio is 5.06, which is higher than the ZZZD.TO Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of XDIV.TO and ZZZD.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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Drawdowns

XDIV.TO vs. ZZZD.TO - Drawdown Comparison

The maximum XDIV.TO drawdown since its inception was -41.29%, which is greater than ZZZD.TO's maximum drawdown of -22.28%. Use the drawdown chart below to compare losses from any high point for XDIV.TO and ZZZD.TO.

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Drawdown Indicators

XDIV.TOZZZD.TODifference

Max Drawdown

Largest peak-to-trough decline

-41.29%

-22.28%

-19.01%

Max Drawdown (1Y)

Largest decline over 1 year

-2.78%

-2.72%

-0.06%

Max Drawdown (3Y)

Largest decline over 3 years

-10.53%

-9.21%

-1.32%

Max Drawdown (5Y)

Largest decline over 5 years

-17.33%

-14.72%

-2.61%

Current Drawdown

Current decline from peak

0.00%

-1.11%

+1.11%

Average Drawdown

Average peak-to-trough decline

-4.37%

-4.67%

+0.30%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.85%

0.83%

+0.02%

Volatility

XDIV.TO vs. ZZZD.TO - Volatility Comparison

iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO) has a higher volatility of 3.37% compared to BMO Tactical Dividend ETF Fund (ZZZD.TO) at 2.96%. This indicates that XDIV.TO's price experiences larger fluctuations and is considered to be riskier than ZZZD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XDIV.TOZZZD.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.37%

2.96%

+0.41%

Volatility (6M)

Calculated over the trailing 6-month period

6.63%

6.50%

+0.13%

Volatility (1Y)

Calculated over the trailing 1-year period

8.51%

8.48%

+0.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.56%

11.17%

-0.61%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.30%

12.64%

+3.66%

Dividends

XDIV.TO vs. ZZZD.TO - Dividend Comparison

XDIV.TO's dividend yield for the trailing twelve months is around 3.17%, less than ZZZD.TO's 3.75% yield.

PositionTTM202520242023202220212020201920182017
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ETF		3.17%3.90%4.50%4.42%4.15%3.76%4.85%4.24%5.13%1.92%
ZZZD.TO
BMO Tactical Dividend ETF Fund		3.75%4.07%4.29%4.28%4.51%4.27%4.09%3.11%0.00%0.00%

Frequently Asked Questions

XDIV.TO and ZZZD.TO have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

They also come from different issuers: iShares and BMO.

Portfolio Optimizer

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