XEI.TO vs. ZDY.TO
XEI.TO (iShares S&P/TSX Composite High Dividend Index ETF) and ZDY.TO (BMO US Dividend ETF (CAD)) are both exchange-traded funds - XEI.TO is a Canada Equities fund tracking the S&P/TSX Composite High Dividend Index, while ZDY.TO is a Dividend fund actively managed by BMO. XEI.TO is passively managed, while ZDY.TO is actively managed. Over the past 10 years, XEI.TO returned 12.30%/yr vs 11.12%/yr for ZDY.TO. At a 0.48 correlation, their price movements are largely independent. XEI.TO charges 0.22%/yr vs 0.30%/yr for ZDY.TO.
Performance
XEI.TO vs. ZDY.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XEI.TO achieves a 23.25% return, which is significantly higher than ZDY.TO's 18.38% return. Over the past 10 years, XEI.TO has outperformed ZDY.TO with an annualized return of 12.30%, while ZDY.TO has yielded a comparatively lower 11.12% annualized return.
XEI.TO
- 1D
- 0.85%
- 1M
- 3.41%
- YTD
- 23.25%
- 6M
- 23.82%
- 1Y
- 45.53%
- 3Y*
- 22.82%
- 5Y*
- 15.75%
- 10Y*
- 12.30%
ZDY.TO
- 1D
- 0.21%
- 1M
- 7.80%
- YTD
- 18.38%
- 6M
- 10.66%
- 1Y
- 27.52%
- 3Y*
- 18.43%
- 5Y*
- 13.60%
- 10Y*
- 11.12%
XEI.TO vs. ZDY.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XEI.TO iShares S&P/TSX Composite High Dividend Index ETF | 23.25% | 25.96% | 15.42% | 6.69% | 0.41% | 35.88% | -7.53% | 25.44% | -10.85% | 7.24% |
ZDY.TO BMO US Dividend ETF (CAD) | 18.38% | 4.45% | 26.22% | 4.58% | 1.64% | 22.92% | -5.18% | 16.96% | 3.22% | 6.74% |
Correlation
The correlation between XEI.TO and ZDY.TO is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2013 | 0.48 |
The correlation between XEI.TO and ZDY.TO shifts across timeframes, from 0.44 (1 year) to 0.54 (10 years), reflecting how their relationship changes across market environments.
XEI.TO vs. ZDY.TO - Sectors Allocation Comparison
Sectors
XEI.TO
ZDY.TO
Energy
Financial Services
Utilities
Communication Services
Consumer Cyclical
Real Estate
Basic Materials
Technology
Industrials
Consumer Defensive
Healthcare
Energy
XEI.TO
ZDY.TO
Financial Services
XEI.TO
ZDY.TO
Utilities
XEI.TO
ZDY.TO
Communication Services
XEI.TO
ZDY.TO
Consumer Cyclical
XEI.TO
ZDY.TO
Real Estate
XEI.TO
ZDY.TO
Basic Materials
XEI.TO
ZDY.TO
Technology
XEI.TO
ZDY.TO
Industrials
XEI.TO
ZDY.TO
Consumer Defensive
XEI.TO
ZDY.TO
Healthcare
XEI.TO
ZDY.TO
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Return for Risk
XEI.TO vs. ZDY.TO — Risk / Return Rank
XEI.TO
ZDY.TO
XEI.TO vs. ZDY.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Composite High Dividend Index ETF (XEI.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.
| XEI.TO | ZDY.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.01 | ||
| Sortino ratioReturn per unit of downside risk | +6.44 | ||
| Omega ratioGain probability vs. loss probability | 2.34 | 1.45 | +0.89 |
| Calmar ratioReturn relative to maximum drawdown | 20.39 | 4.08 | +16.32 |
| Martin ratioReturn relative to average drawdown | 69.23 | 14.10 | +55.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XEI.TO | ZDY.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 6.34 | 2.34 | +4.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.41 | 1.12 | +0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.77 | 0.74 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 0.96 | -0.29 |
Drawdowns
XEI.TO vs. ZDY.TO - Drawdown Comparison
The maximum XEI.TO drawdown since its inception was -45.51%, 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 XEI.TO and ZDY.TO.
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Drawdown Indicators
| XEI.TO | ZDY.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.51% | -33.01% | -12.50% |
Max Drawdown (1Y)Largest decline over 1 year | -2.24% | -6.78% | +4.54% |
Max Drawdown (3Y)Largest decline over 3 years | -9.92% | -15.32% | +5.40% |
Max Drawdown (5Y)Largest decline over 5 years | -17.32% | -15.32% | -2.00% |
Max Drawdown (10Y)Largest decline over 10 years | -45.51% | -33.01% | -12.50% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -5.05% | -3.30% | -1.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 1.96% | -1.30% |
Volatility
XEI.TO vs. ZDY.TO - Volatility Comparison
The current volatility for iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) is 2.89%, while BMO US Dividend ETF (CAD) (ZDY.TO) has a volatility of 4.61%. This indicates that XEI.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
| XEI.TO | ZDY.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.89% | 4.61% | -1.72% |
Volatility (6M)Calculated over the trailing 6-month period | 6.03% | 9.85% | -3.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.24% | 11.83% | -4.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.24% | 12.17% | -0.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.01% | 15.18% | +0.83% |
XEI.TO vs. ZDY.TO - Expense Ratio Comparison
XEI.TO has a 0.22% expense ratio, which is lower than ZDY.TO's 0.30% expense ratio.
Dividends
XEI.TO vs. ZDY.TO - Dividend Comparison
XEI.TO's dividend yield for the trailing twelve months is around 3.53%, more than ZDY.TO's 1.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XEI.TO iShares S&P/TSX Composite High Dividend Index ETF | 3.53% | 4.39% | 5.56% | 5.08% | 4.78% | 3.65% | 5.13% | 4.71% | 5.53% | 4.37% | 4.51% | 5.75% |
ZDY.TO BMO US Dividend ETF (CAD) | 1.45% | 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
XEI.TO and ZDY.TO have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XEI.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XEI.TO is cheaper with a 0.22% expense ratio, compared with 0.30% for ZDY.TO.
XEI.TO is categorized as Canada Equities, while ZDY.TO is Dividend. They also come from different issuers: iShares and BMO. Their fees differ too: 0.22% for XEI.TO and 0.30% for ZDY.TO.
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