XDV.TO vs. ZIU.TO

Last updated Jun 4, 2026

XDV.TO (iShares Canadian Select Dividend Index ETF) and ZIU.TO (BMO S&P/TSX 60 Index ETF) are both Canada Equities funds - XDV.TO tracks the Morningstar Canada GR CAD while ZIU.TO tracks the S&P/TSX 60 Index. Both are passively managed. Over the past year, XDV.TO returned 39.82% vs 31.32% for ZIU.TO. A 0.60 correlation means they provide meaningful diversification when combined. XDV.TO charges 0.55%/yr vs 0.15%/yr for ZIU.TO.

Performance

XDV.TO vs. ZIU.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Canadian Select Dividend Index ETF (XDV.TO) and BMO S&P/TSX 60 Index ETF (ZIU.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XDV.TO achieves a 16.45% return, which is significantly higher than ZIU.TO's 10.17% return.

XDV.TO

• 1D: -0.09%
• 1M: 4.74%
• YTD: 16.45%
• 6M: 20.26%
• 1Y: 39.82%
• 3Y*: 23.34%
• 5Y*: 13.46%
• 10Y*: 11.99%

ZIU.TO

• 1D: -0.14%
• 1M: 3.59%
• YTD: 10.17%
• 6M: 11.84%
• 1Y: 31.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

XDV.TO vs. ZIU.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XDV.TO iShares Canadian Select Dividend Index ETF	16.45%	29.37%	21.28%	10.63%
ZIU.TO BMO S&P/TSX 60 Index ETF	10.17%	28.37%	21.12%	10.25%

Correlation

The correlation between XDV.TO and ZIU.TO is 0.64, 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	0.64
Correlation (All Time) Calculated using the full available price history since Oct 3, 2023	0.60

The correlation between XDV.TO and ZIU.TO has been stable across timeframes, ranging from 0.60 to 0.64 - a consistent structural relationship.

Return for Risk

XDV.TO vs. ZIU.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XDV.TO

XDV.TO Risk / Return Rank: 97
XDV.TO Sharpe Ratio Rank: 97
XDV.TO Sortino Ratio Rank: 98
XDV.TO Omega Ratio Rank: 98
XDV.TO Calmar Ratio Rank: 95
XDV.TO Martin Ratio Rank: 97

ZIU.TO

ZIU.TO Risk / Return Rank: 83
ZIU.TO Sharpe Ratio Rank: 84
ZIU.TO Sortino Ratio Rank: 84
ZIU.TO Omega Ratio Rank: 84
ZIU.TO Calmar Ratio Rank: 78
ZIU.TO Martin Ratio Rank: 87

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.

XDV.TO vs. ZIU.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Canadian Select Dividend Index ETF (XDV.TO) and BMO S&P/TSX 60 Index ETF (ZIU.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.

	XDV.TO	ZIU.TO	Difference
Sharpe ratio: Return per unit of total volatility	5.11	2.80	+2.31
Sortino ratio: Return per unit of downside risk	7.58	3.80	+3.79
Omega ratio: Gain probability vs. loss probability	2.02	1.52	+0.50
Calmar ratio: Return relative to maximum drawdown	8.35	3.99	+4.36
Martin ratio: Return relative to average drawdown	41.42	19.04	+22.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XDV.TO vs. ZIU.TO - Sharpe Ratio Comparison

The current XDV.TO Sharpe Ratio is 5.11, which is higher than the ZIU.TO Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of XDV.TO and ZIU.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.

Sharpe Ratios by Period

	XDV.TO	ZIU.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.11	2.80	+2.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.26	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	2.18	-1.59

Drawdowns

XDV.TO vs. ZIU.TO - Drawdown Comparison

The maximum XDV.TO drawdown since its inception was -48.56%, which is greater than ZIU.TO's maximum drawdown of -12.35%. Use the drawdown chart below to compare losses from any high point for XDV.TO and ZIU.TO.

Drawdown Indicators

	XDV.TO	ZIU.TO	Difference
Max Drawdown Largest peak-to-trough decline	-48.56%	-12.35%	-36.21%
Max Drawdown (1Y) Largest decline over 1 year	-4.79%	-7.88%	+3.09%
Max Drawdown (3Y) Largest decline over 3 years	-12.99%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.52%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.08%	—	—
Current Drawdown Current decline from peak	-0.18%	-0.14%	-0.04%
Average Drawdown Average peak-to-trough decline	-6.78%	-1.30%	-5.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	1.65%	-0.69%

Volatility

XDV.TO vs. ZIU.TO - Volatility Comparison

iShares Canadian Select Dividend Index ETF (XDV.TO) has a higher volatility of 2.79% compared to BMO S&P/TSX 60 Index ETF (ZIU.TO) at 2.25%. This indicates that XDV.TO's price experiences larger fluctuations and is considered to be riskier than ZIU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XDV.TO	ZIU.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.79%	2.25%	+0.54%
Volatility (6M) Calculated over the trailing 6-month period	6.53%	8.94%	-2.41%
Volatility (1Y) Calculated over the trailing 1-year period	7.83%	11.25%	-3.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.71%	12.42%	-1.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.63%	12.42%	+2.21%

XDV.TO vs. ZIU.TO - Expense Ratio Comparison

XDV.TO has a 0.55% expense ratio, which is higher than ZIU.TO's 0.15% expense ratio.

Dividends

XDV.TO vs. ZIU.TO - Dividend Comparison

XDV.TO's dividend yield for the trailing twelve months is around 3.36%, more than ZIU.TO's 2.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XDV.TO iShares Canadian Select Dividend Index ETF	3.36%	3.46%	4.34%	4.62%	4.49%	3.82%	4.78%	4.21%	4.92%	3.65%	3.91%	4.75%
ZIU.TO BMO S&P/TSX 60 Index ETF	2.10%	2.28%	2.70%	0.78%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XDV.TO and ZIU.TO in my portfolio?

XDV.TO and ZIU.TO have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XDV.TO or ZIU.TO?

On fees, ZIU.TO is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XDV.TO or ZIU.TO?

ZIU.TO is cheaper with a 0.15% expense ratio, compared with 0.55% for XDV.TO.

What is the main difference between XDV.TO and ZIU.TO?

XDV.TO tracks Morningstar Canada GR CAD, while ZIU.TO tracks S&P/TSX 60 Index. They also come from different issuers: iShares and BMO. Their fees differ too: 0.55% for XDV.TO and 0.15% for ZIU.TO.