ZDH.TO vs. PAYG.TO

Last updated Jul 14, 2026

ZDH.TO (BMO International Dividend Hedged to CAD ETF) and PAYG.TO (Brompton Global Equity HighPay ETF) are both Global Equity Income funds. A 0.57 correlation means they provide meaningful diversification when combined.

Performance

ZDH.TO vs. PAYG.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO International Dividend Hedged to CAD ETF (ZDH.TO) and Brompton Global Equity HighPay ETF (PAYG.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ZDH.TO

• 1D: -0.77%
• 1M: 0.33%
• 6M: 9.01%
• YTD: 12.00%
• 1Y: 26.90%
• 3Y*: 17.20%
• 5Y*: 13.79%
• 10Y*: 10.56%

PAYG.TO

• 1D: -1.21%
• 1M: 0.06%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ZDH.TO vs. PAYG.TO - Yearly Performance Comparison

	2026 (YTD)
ZDH.TO BMO International Dividend Hedged to CAD ETF	4.35%
PAYG.TO Brompton Global Equity HighPay ETF	10.67%

Correlation

The correlation between ZDH.TO and PAYG.TO is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 2, 2026	0.57

Return for Risk

ZDH.TO vs. PAYG.TO — Risk / Return Rank

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

ZDH.TO

ZDH.TO Risk / Return Rank: 85
ZDH.TO Sharpe Ratio Rank: 89
ZDH.TO Sortino Ratio Rank: 89
ZDH.TO Omega Ratio Rank: 88
ZDH.TO Calmar Ratio Rank: 74
ZDH.TO Martin Ratio Rank: 82

PAYG.TO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

ZDH.TO vs. PAYG.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 Brompton Global Equity HighPay ETF (PAYG.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	PAYG.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.31	—	—
Sortino ratio: Return per unit of downside risk	3.30	—	—
Omega ratio: Gain probability vs. loss probability	1.43	—	—
Calmar ratio: Return relative to maximum drawdown	3.03	—	—
Martin ratio: Return relative to average drawdown	12.73	—	—

Drawdowns

ZDH.TO vs. PAYG.TO - Drawdown Comparison

The maximum ZDH.TO drawdown since its inception was -37.62%, which is greater than PAYG.TO's maximum drawdown of -7.38%. Use the drawdown chart below to compare losses from any high point for ZDH.TO and PAYG.TO.

Drawdown Indicators

	ZDH.TO	PAYG.TO	Difference
Max Drawdown Largest peak-to-trough decline	-37.62%	-7.38%	-30.24%
Max Drawdown (1Y) Largest decline over 1 year	-8.92%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-13.74%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-13.74%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-37.62%	—	—
Current Drawdown Current decline from peak	-1.55%	-4.64%	+3.09%
Average Drawdown Average peak-to-trough decline	-4.03%	-2.38%	-1.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.12%	—	—

Volatility

Volatility by Period

	ZDH.TO	PAYG.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.97%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.63%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.74%	21.42%	-9.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.30%	21.42%	-8.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.31%	21.42%	-5.11%

Dividends

ZDH.TO vs. PAYG.TO - Dividend Comparison

ZDH.TO's dividend yield for the trailing twelve months is around 2.76%, less than PAYG.TO's 4.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PAYG.TO Brompton Global Equity HighPay ETF	4.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ZDH.TO BMO International Dividend Hedged to CAD ETF	2.76%	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

Can I hold both ZDH.TO and PAYG.TO in my portfolio?

ZDH.TO and PAYG.TO have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between ZDH.TO and PAYG.TO?

They also come from different issuers: BMO and Brompton.