XHD.TO vs. ZLU.TO
XHD.TO (iShares U.S. High Dividend Equity Index ETF (CAD-Hedged)) and ZLU.TO (BMO Low Volatility US Equity ETF (CAD)) are both Large Cap Blend Equities funds. XHD.TO is passively managed, while ZLU.TO is actively managed. Over the past 10 years, XHD.TO returned 6.20%/yr vs 9.66%/yr for ZLU.TO. At a 0.45 correlation, their price movements are largely independent. Both charge a 0.33% expense ratio.
Performance
XHD.TO vs. ZLU.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XHD.TO achieves a 12.05% return, which is significantly higher than ZLU.TO's 10.43% return. Over the past 10 years, XHD.TO has underperformed ZLU.TO with an annualized return of 6.20%, while ZLU.TO has yielded a comparatively higher 9.66% annualized return.
XHD.TO
- 1D
- 0.10%
- 1M
- -0.05%
- YTD
- 12.05%
- 6M
- 6.40%
- 1Y
- 12.73%
- 3Y*
- 9.64%
- 5Y*
- 6.57%
- 10Y*
- 6.20%
ZLU.TO
- 1D
- 0.95%
- 1M
- 4.71%
- YTD
- 10.43%
- 6M
- 4.45%
- 1Y
- 12.11%
- 3Y*
- 11.15%
- 5Y*
- 10.40%
- 10Y*
- 9.66%
XHD.TO vs. ZLU.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XHD.TO iShares U.S. High Dividend Equity Index ETF (CAD-Hedged) | 12.05% | 3.92% | 9.50% | -0.07% | 4.22% | 17.88% | -9.51% | 17.96% | -5.62% | 11.73% |
ZLU.TO BMO Low Volatility US Equity ETF (CAD) | 10.43% | 1.95% | 21.52% | -3.36% | 7.85% | 20.62% | 1.98% | 20.39% | 8.31% | 4.98% |
Correlation
The correlation between XHD.TO and ZLU.TO is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Apr 9, 2013 | 0.45 |
The correlation between XHD.TO and ZLU.TO shifts across timeframes, from 0.45 (all time) to 0.61 (3 years), reflecting how their relationship changes across market environments.
XHD.TO vs. ZLU.TO - Sectors Allocation Comparison
Sectors
XHD.TO
ZLU.TO
Consumer Defensive
Energy
Healthcare
Financial Services
Utilities
Technology
Consumer Cyclical
Industrials
Basic Materials
Communication Services
Real Estate
-
Consumer Defensive
XHD.TO
ZLU.TO
Energy
XHD.TO
ZLU.TO
Healthcare
XHD.TO
ZLU.TO
Financial Services
XHD.TO
ZLU.TO
Utilities
XHD.TO
ZLU.TO
Technology
XHD.TO
ZLU.TO
Consumer Cyclical
XHD.TO
ZLU.TO
Industrials
XHD.TO
ZLU.TO
Basic Materials
XHD.TO
ZLU.TO
Communication Services
XHD.TO
ZLU.TO
Real Estate
XHD.TO
-
ZLU.TO
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
XHD.TO vs. ZLU.TO — Risk / Return Rank
XHD.TO
ZLU.TO
XHD.TO vs. ZLU.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. High Dividend Equity Index ETF (CAD-Hedged) (XHD.TO) and BMO Low Volatility US Equity ETF (CAD) (ZLU.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.
| XHD.TO | ZLU.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.21 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.96 | 1.61 | +0.35 |
| Martin ratioReturn relative to average drawdown | 5.56 | 4.10 | +1.46 |
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
| XHD.TO | ZLU.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.14 | 1.16 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.51 | 0.92 | -0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.40 | 0.70 | -0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.98 | -0.45 |
Drawdowns
XHD.TO vs. ZLU.TO - Drawdown Comparison
The maximum XHD.TO drawdown since its inception was -38.71%, which is greater than ZLU.TO's maximum drawdown of -25.49%. Use the drawdown chart below to compare losses from any high point for XHD.TO and ZLU.TO.
Loading charts...
Drawdown Indicators
| XHD.TO | ZLU.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.71% | -25.49% | -13.22% |
Max Drawdown (1Y)Largest decline over 1 year | -6.51% | -7.53% | +1.02% |
Max Drawdown (3Y)Largest decline over 3 years | -12.75% | -9.17% | -3.58% |
Max Drawdown (5Y)Largest decline over 5 years | -16.38% | -10.40% | -5.98% |
Max Drawdown (10Y)Largest decline over 10 years | -38.71% | -25.49% | -13.22% |
Current DrawdownCurrent decline from peak | -2.35% | -1.11% | -1.24% |
Average DrawdownAverage peak-to-trough decline | -3.92% | -3.11% | -0.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.30% | 2.96% | -0.66% |
Volatility
XHD.TO vs. ZLU.TO - Volatility Comparison
iShares U.S. High Dividend Equity Index ETF (CAD-Hedged) (XHD.TO) has a higher volatility of 3.68% compared to BMO Low Volatility US Equity ETF (CAD) (ZLU.TO) at 2.94%. This indicates that XHD.TO's price experiences larger fluctuations and is considered to be riskier than ZLU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XHD.TO | ZLU.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.68% | 2.94% | +0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 9.38% | 8.51% | +0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.28% | 10.50% | +0.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.03% | 11.35% | +1.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.53% | 13.91% | +1.62% |
XHD.TO vs. ZLU.TO - Expense Ratio Comparison
Both XHD.TO and ZLU.TO have an expense ratio of 0.33%.
Dividends
XHD.TO vs. ZLU.TO - Dividend Comparison
XHD.TO's dividend yield for the trailing twelve months is around 2.38%, more than ZLU.TO's 1.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XHD.TO iShares U.S. High Dividend Equity Index ETF (CAD-Hedged) | 2.38% | 2.61% | 2.99% | 3.09% | 2.69% | 2.81% | 3.44% | 2.46% | 2.81% | 2.36% | 2.48% | 3.00% |
ZLU.TO BMO Low Volatility US Equity ETF (CAD) | 1.72% | 1.89% | 1.89% | 2.29% | 1.87% | 1.69% | 1.75% | 1.51% | 1.81% | 1.91% | 2.26% | 1.73% |
Frequently Asked Questions
XHD.TO and ZLU.TO have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.33% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
XHD.TO and ZLU.TO have the same expense ratio: 0.33% per year.
They also come from different issuers: iShares and BMO.
Find the right allocation for XHD.TO and ZLU.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