ZDH.TO vs. ETP.TO
ZDH.TO (BMO International Dividend Hedged to CAD ETF) and ETP.TO (First Trust Global Risk Managed Income Index ETF) are both Global Equity Income funds. Over the past 10 years, ZDH.TO returned 10.64%/yr vs 3.73%/yr for ETP.TO. At a 0.20 correlation, their price movements are largely independent.
Performance
ZDH.TO vs. ETP.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZDH.TO achieves a 12.80% return, which is significantly higher than ETP.TO's 5.38% return. Over the past 10 years, ZDH.TO has outperformed ETP.TO with an annualized return of 10.64%, while ETP.TO has yielded a comparatively lower 3.73% annualized return.
ZDH.TO
- 1D
- -0.23%
- 1M
- 0.53%
- 6M
- 8.92%
- YTD
- 12.80%
- 1Y
- 27.90%
- 3Y*
- 17.36%
- 5Y*
- 14.21%
- 10Y*
- 10.64%
ETP.TO
- 1D
- 0.00%
- 1M
- 0.85%
- 6M
- 4.64%
- YTD
- 5.38%
- 1Y
- 10.90%
- 3Y*
- 9.87%
- 5Y*
- 3.85%
- 10Y*
- 3.73%
ZDH.TO vs. ETP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZDH.TO BMO International Dividend Hedged to CAD ETF | 12.80% | 22.25% | 10.75% | 17.44% | 3.43% | 19.87% | -9.45% | 19.93% | -9.14% | 13.04% |
ETP.TO First Trust Global Risk Managed Income Index ETF | 5.38% | 9.03% | 11.18% | 5.68% | -10.84% | 6.08% | -0.95% | 11.41% | -4.09% | 5.12% |
Correlation
The correlation between ZDH.TO and ETP.TO is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2015 | 0.20 |
The correlation between ZDH.TO and ETP.TO shifts across timeframes, from 0.03 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ZDH.TO vs. ETP.TO — Risk / Return Rank
ZDH.TO
ETP.TO
ZDH.TO vs. ETP.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO International Dividend Hedged to CAD ETF (ZDH.TO) and First Trust Global Risk Managed Income Index ETF (ETP.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.
| ZDH.TO | ETP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.54 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.59 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.14 | 3.89 | -0.75 |
| Martin ratioReturn relative to average drawdown | 13.20 | 16.51 | -3.31 |
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Drawdowns
ZDH.TO vs. ETP.TO - Drawdown Comparison
The maximum ZDH.TO drawdown since its inception was -37.62%, which is greater than ETP.TO's maximum drawdown of -26.38%. Use the drawdown chart below to compare losses from any high point for ZDH.TO and ETP.TO.
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Drawdown Indicators
| ZDH.TO | ETP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.62% | -26.38% | -11.24% |
Max Drawdown (1Y)Largest decline over 1 year | -8.92% | -2.81% | -6.11% |
Max Drawdown (3Y)Largest decline over 3 years | -13.74% | -5.73% | -8.01% |
Max Drawdown (5Y)Largest decline over 5 years | -13.74% | -15.30% | +1.56% |
Max Drawdown (10Y)Largest decline over 10 years | -37.62% | -26.38% | -11.24% |
Current DrawdownCurrent decline from peak | -0.84% | 0.00% | -0.84% |
Average DrawdownAverage peak-to-trough decline | -4.03% | -3.26% | -0.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.12% | 0.66% | +1.46% |
Volatility
ZDH.TO vs. ETP.TO - Volatility Comparison
BMO International Dividend Hedged to CAD ETF (ZDH.TO) has a higher volatility of 3.11% compared to First Trust Global Risk Managed Income Index ETF (ETP.TO) at 0.72%. This indicates that ZDH.TO's price experiences larger fluctuations and is considered to be riskier than ETP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZDH.TO | ETP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.11% | 0.72% | +2.39% |
Volatility (6M)Calculated over the trailing 6-month period | 9.66% | 2.88% | +6.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.75% | 3.74% | +8.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.29% | 5.86% | +7.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.30% | 7.13% | +9.17% |
Dividends
ZDH.TO vs. ETP.TO - Dividend Comparison
ZDH.TO's dividend yield for the trailing twelve months is around 2.74%, less than ETP.TO's 3.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETP.TO First Trust Global Risk Managed Income Index ETF | 3.61% | 4.03% | 3.73% | 4.15% | 3.25% | 2.93% | 3.78% | 3.76% | 4.33% | 4.08% | 3.84% | 4.28% |
ZDH.TO BMO International Dividend Hedged to CAD ETF | 2.74% | 3.09% | 4.03% | 4.25% | 4.06% | 3.72% | 5.35% | 4.88% | 5.37% | 4.43% | 4.38% | 1.67% |
Frequently Asked Questions
ZDH.TO and ETP.TO have a correlation of 0.03, 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: BMO and First Trust.
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