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ZDH.TO vs. ZUQ.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ZDH.TO vs. ZUQ.TO

Last updated Apr 1, 2026

Compare and contrast key facts about BMO International Dividend Hedged to CAD ETF (ZDH.TO) and BMO MSCI USA High Quality Index ETF (ZUQ.TO).

ZDH.TO and ZUQ.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZDH.TO is managed by BMO. It was launched on Sep 2, 2015. ZUQ.TO is a passively managed fund by BMO that tracks the performance of the MSCI USA Quality Index. It was launched on Nov 4, 2014.

Performance

ZDH.TO vs. ZUQ.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 BMO MSCI USA High Quality Index ETF (ZUQ.TO). The values are adjusted to include any dividend payments, if applicable.

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

2026 (YTD)202520242023202220212020201920182017
ZDH.TO
BMO International Dividend Hedged to CAD ETF		6.32%21.88%10.74%17.42%3.42%19.82%-9.45%19.91%-9.16%13.02%
ZUQ.TO
BMO MSCI USA High Quality Index ETF		-2.48%5.78%34.02%33.24%-18.33%26.40%19.92%31.74%4.70%16.90%

Returns By Period

In the year-to-date period, ZDH.TO achieves a 6.32% return, which is significantly higher than ZUQ.TO's -2.48% return. Over the past 10 years, ZDH.TO has underperformed ZUQ.TO with an annualized return of 10.52%, while ZUQ.TO has yielded a comparatively higher 14.91% annualized return.

ZDH.TO

1D
2.26%
1M
-4.03%
YTD
6.32%
6M
15.34%
1Y
22.07%
3Y*
16.51%
5Y*
13.69%
10Y*
10.52%

ZUQ.TO

1D
2.62%
1M
-4.65%
YTD
-2.48%
6M
-4.05%
1Y
6.41%
3Y*
18.54%
5Y*
12.98%
10Y*
14.91%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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BMO International Dividend Hedged to CAD ETF

BMO MSCI USA High Quality Index ETF

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ZDH.TO vs. ZUQ.TO - Expense Ratio Comparison

ZDH.TO has a 0.40% expense ratio, which is higher than ZUQ.TO's 0.33% expense ratio.

ZDH.TO
BMO International Dividend Hedged to CAD ETF
ZUQ.TO
BMO MSCI USA High Quality Index ETF

Return for Risk

ZDH.TO vs. ZUQ.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: 7575
Overall Rank
ZDH.TO Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
ZDH.TO Sortino Ratio Rank: 7575
Sortino Ratio Rank
ZDH.TO Omega Ratio Rank: 7878
Omega Ratio Rank
ZDH.TO Calmar Ratio Rank: 7171
Calmar Ratio Rank
ZDH.TO Martin Ratio Rank: 7575
Martin Ratio Rank
ZUQ.TO
ZUQ.TO Risk / Return Rank: 2626
Overall Rank
ZUQ.TO Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
ZUQ.TO Sortino Ratio Rank: 2424
Sortino Ratio Rank
ZUQ.TO Omega Ratio Rank: 2525
Omega Ratio Rank
ZUQ.TO Calmar Ratio Rank: 3131
Calmar Ratio Rank
ZUQ.TO Martin Ratio Rank: 2828
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.

ZDH.TO vs. ZUQ.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 BMO MSCI USA High Quality Index ETF (ZUQ.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.

ZDH.TOZUQ.TODifference

Sharpe ratio

Return per unit of total volatility

1.37

0.36

+1.01

Sortino ratio

Return per unit of downside risk

1.95

0.61

+1.34

Omega ratio

Gain probability vs. loss probability

1.31

1.09

+0.22

Calmar ratio

Return relative to maximum drawdown

1.88

0.69

+1.18

Martin ratio

Return relative to average drawdown

8.16

2.07

+6.09

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZDH.TO vs. ZUQ.TO - Sharpe Ratio Comparison

The current ZDH.TO Sharpe Ratio is 1.37, which is higher than the ZUQ.TO Sharpe Ratio of 0.36. The chart below compares the historical Sharpe Ratios of ZDH.TO and ZUQ.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

ZDH.TOZUQ.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.37

0.36

+1.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.04

0.80

+0.25

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.64

0.85

-0.22

Sharpe Ratio (All Time)

Calculated using the full available price history

0.57

0.88

-0.31

Correlation

The correlation between ZDH.TO and ZUQ.TO is 0.48, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ZDH.TO vs. ZUQ.TO - Dividend Comparison

ZDH.TO's dividend yield for the trailing twelve months is around 2.87%, more than ZUQ.TO's 0.48% yield.

TTM20252024202320222021202020192018201720162015
ZDH.TO
BMO International Dividend Hedged to CAD ETF		2.87%3.09%4.01%4.23%4.04%3.70%5.34%4.87%5.36%4.41%4.37%1.66%
ZUQ.TO
BMO MSCI USA High Quality Index ETF		0.48%0.46%0.57%0.86%0.99%0.80%0.96%0.96%1.07%1.16%1.00%0.88%

Drawdowns

ZDH.TO vs. ZUQ.TO - Drawdown Comparison

The maximum ZDH.TO drawdown since its inception was -37.62%, which is greater than ZUQ.TO's maximum drawdown of -26.94%. Use the drawdown chart below to compare losses from any high point for ZDH.TO and ZUQ.TO.

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Drawdown Indicators

ZDH.TOZUQ.TODifference

Max Drawdown

Largest peak-to-trough decline

-37.62%

-26.94%

-10.68%

Max Drawdown (1Y)

Largest decline over 1 year

-11.33%

-11.04%

-0.29%

Max Drawdown (5Y)

Largest decline over 5 years

-13.74%

-26.94%

+13.20%

Max Drawdown (10Y)

Largest decline over 10 years

-37.62%

-26.94%

-10.68%

Current Drawdown

Current decline from peak

-4.14%

-8.17%

+4.03%

Average Drawdown

Average peak-to-trough decline

-4.10%

-4.64%

+0.54%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.60%

3.73%

-1.13%

Volatility

ZDH.TO vs. ZUQ.TO - Volatility Comparison

BMO International Dividend Hedged to CAD ETF (ZDH.TO) has a higher volatility of 5.81% compared to BMO MSCI USA High Quality Index ETF (ZUQ.TO) at 5.03%. This indicates that ZDH.TO's price experiences larger fluctuations and is considered to be riskier than ZUQ.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.TOZUQ.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.81%

5.03%

+0.78%

Volatility (6M)

Calculated over the trailing 6-month period

8.75%

10.29%

-1.54%

Volatility (1Y)

Calculated over the trailing 1-year period

16.16%

17.98%

-1.82%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.22%

16.40%

-3.18%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.54%

17.54%

-1.00%