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XSEA.TO vs. ZLD.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XSEA.TO vs. ZLD.TO

Last updated Jul 17, 2026
Documentation

XSEA.TO (iShares ESG Aware MSCI EAFE Index ETF) and ZLD.TO (BMO Low Volatility International Equity Hedged to CAD ETF) are both Foreign Large Cap Equities funds. Over the past 5 years, XSEA.TO returned 10.53%/yr vs 6.41%/yr for ZLD.TO. At a 0.44 correlation, their price movements are largely independent. XSEA.TO charges 0.28%/yr vs 0.40%/yr for ZLD.TO.

Performance

XSEA.TO vs. ZLD.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares ESG Aware MSCI EAFE Index ETF (XSEA.TO) and BMO Low Volatility International Equity Hedged to CAD ETF (ZLD.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, XSEA.TO achieves a 12.82% return, which is significantly higher than ZLD.TO's 5.53% return.

XSEA.TO

1D
-0.57%
1M
-0.03%
6M
7.32%
YTD
12.82%
1Y
21.16%
3Y*
16.46%
5Y*
10.53%
10Y*
—

ZLD.TO

1D
0.19%
1M
3.19%
6M
3.96%
YTD
5.53%
1Y
7.37%
3Y*
10.30%
5Y*
6.41%
10Y*
6.52%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XSEA.TO vs. ZLD.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
XSEA.TO
iShares ESG Aware MSCI EAFE Index ETF		12.82%21.00%11.92%15.28%-8.97%11.09%6.08%7.77%
ZLD.TO
BMO Low Volatility International Equity Hedged to CAD ETF		5.53%9.63%11.11%11.37%-6.68%12.56%-5.85%7.19%

Correlation

The correlation between XSEA.TO and ZLD.TO is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.46

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

0.39

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

0.38

Correlation (All Time)
Calculated using the full available price history since Mar 18, 2019

0.44

XSEA.TO vs. ZLD.TO - Sectors Allocation Comparison

Sectors
XSEA.TO
ZLD.TO

Financial Services

25.3%
16.7%

Industrials

19.1%
12.5%

Technology

13.4%
5.0%

Healthcare

9.2%
12.7%

Consumer Cyclical

6.9%
2.9%

Consumer Defensive

6.4%
14.8%

Basic Materials

5.0%
1.9%

Communication Services

4.8%
13.9%

Energy

4.0%
0.9%

Utilities

4.0%
12.0%

Real Estate

2.0%
6.6%

Financial Services

XSEA.TO
25.3%
ZLD.TO
16.7%

Industrials

XSEA.TO
19.1%
ZLD.TO
12.5%

Technology

XSEA.TO
13.4%
ZLD.TO
5.0%

Healthcare

XSEA.TO
9.2%
ZLD.TO
12.7%

Consumer Cyclical

XSEA.TO
6.9%
ZLD.TO
2.9%

Consumer Defensive

XSEA.TO
6.4%
ZLD.TO
14.8%

Basic Materials

XSEA.TO
5.0%
ZLD.TO
1.9%

Communication Services

XSEA.TO
4.8%
ZLD.TO
13.9%

Energy

XSEA.TO
4.0%
ZLD.TO
0.9%

Utilities

XSEA.TO
4.0%
ZLD.TO
12.0%

Real Estate

XSEA.TO
2.0%
ZLD.TO
6.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares ESG Aware MSCI EAFE Index ETF

BMO Low Volatility International Equity Hedged to CAD ETF

Often compared with XSEA.TO:
XSEA.TO vs. XDSR.TOXSEA.TO vs. XSEM.TOXSEA.TO vs. XSUS.TOXSEA.TO vs. ESGDXSEA.TO vs. XAW.TOXSEA.TO vs. XEU.TOXSEA.TO vs. XEQT.TO
Often compared with ZLD.TO:
ZLD.TO vs. VIDY.TOZLD.TO vs. QDX.TOZLD.TO vs. ESGE.TOZLD.TO vs. ZMMK.TOZLD.TO vs. ZXM.TOZLD.TO vs. FCIV.TOZLD.TO vs. FLUR.NEO

Return for Risk

XSEA.TO vs. ZLD.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XSEA.TO
XSEA.TO Risk / Return Rank: 4848
Overall Rank
XSEA.TO Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
XSEA.TO Sortino Ratio Rank: 4848
Sortino Ratio Rank
XSEA.TO Omega Ratio Rank: 4949
Omega Ratio Rank
XSEA.TO Calmar Ratio Rank: 4343
Calmar Ratio Rank
XSEA.TO Martin Ratio Rank: 5151
Martin Ratio Rank
ZLD.TO
ZLD.TO Risk / Return Rank: 2626
Overall Rank
ZLD.TO Sharpe Ratio Rank: 2929
Sharpe Ratio Rank
ZLD.TO Sortino Ratio Rank: 2828
Sortino Ratio Rank
ZLD.TO Omega Ratio Rank: 2626
Omega Ratio Rank
ZLD.TO Calmar Ratio Rank: 2626
Calmar Ratio Rank
ZLD.TO Martin Ratio Rank: 2323
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.

XSEA.TO vs. ZLD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Aware MSCI EAFE Index ETF (XSEA.TO) and BMO Low Volatility International Equity Hedged to CAD ETF (ZLD.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.

XSEA.TOZLD.TODifference
Sharpe ratioReturn per unit of total volatility
1.38
0.88

+0.50

Sortino ratioReturn per unit of downside risk
1.96
1.28

+0.68

Omega ratioGain probability vs. loss probability

1.25

1.15

+0.10

Calmar ratioReturn relative to maximum drawdown

1.77

1.04

+0.73

Martin ratioReturn relative to average drawdown

6.89

2.23

+4.66

XSEA.TO vs. ZLD.TO - Sharpe Ratio Comparison

The current XSEA.TO Sharpe Ratio is 1.38, which is higher than the ZLD.TO Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of XSEA.TO and ZLD.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

XSEA.TO vs. ZLD.TO - Drawdown Comparison

The maximum XSEA.TO drawdown since its inception was -28.64%, roughly equal to the maximum ZLD.TO drawdown of -28.97%. Use the drawdown chart below to compare losses from any high point for XSEA.TO and ZLD.TO.

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Drawdown Indicators

XSEA.TOZLD.TODifference

Max Drawdown

Largest peak-to-trough decline

-28.64%

-28.97%

+0.33%

Max Drawdown (1Y)

Largest decline over 1 year

-11.99%

-7.09%

-4.90%

Max Drawdown (3Y)

Largest decline over 3 years

-14.50%

-7.47%

-7.03%

Max Drawdown (5Y)

Largest decline over 5 years

-27.70%

-15.02%

-12.68%

Max Drawdown (10Y)

Largest decline over 10 years

—

-28.97%

—

Current Drawdown

Current decline from peak

-2.58%

-1.98%

-0.60%

Average Drawdown

Average peak-to-trough decline

-5.87%

-3.69%

-2.18%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.08%

3.31%

-0.23%

Volatility

XSEA.TO vs. ZLD.TO - Volatility Comparison

iShares ESG Aware MSCI EAFE Index ETF (XSEA.TO) has a higher volatility of 3.64% compared to BMO Low Volatility International Equity Hedged to CAD ETF (ZLD.TO) at 1.93%. This indicates that XSEA.TO's price experiences larger fluctuations and is considered to be riskier than ZLD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XSEA.TOZLD.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.64%

1.93%

+1.71%

Volatility (6M)

Calculated over the trailing 6-month period

12.69%

6.37%

+6.32%

Volatility (1Y)

Calculated over the trailing 1-year period

15.42%

8.44%

+6.98%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.83%

9.98%

+5.85%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.89%

12.82%

+4.07%

XSEA.TO vs. ZLD.TO - Expense Ratio Comparison

XSEA.TO has a 0.28% expense ratio, which is lower than ZLD.TO's 0.40% expense ratio.

Dividends

XSEA.TO vs. ZLD.TO - Dividend Comparison

XSEA.TO's dividend yield for the trailing twelve months is around 2.35%, more than ZLD.TO's 2.19% yield.

PositionTTM2025202420232022202120202019201820172016
XSEA.TO
iShares ESG Aware MSCI EAFE Index ETF		2.35%2.46%2.90%2.64%2.35%2.12%1.40%2.38%0.00%0.00%0.00%
ZLD.TO
BMO Low Volatility International Equity Hedged to CAD ETF		2.19%2.29%2.45%2.66%2.62%2.31%2.62%2.17%2.36%2.23%1.96%

Frequently Asked Questions

XSEA.TO and ZLD.TO have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XSEA.TO is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XSEA.TO is cheaper with a 0.28% expense ratio, compared with 0.40% for ZLD.TO.

They also come from different issuers: iShares and BMO. Their fees differ too: 0.28% for XSEA.TO and 0.40% for ZLD.TO.

Portfolio Optimizer

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