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ZDI.TO vs. CPD.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZDI.TO vs. CPD.TO

Last updated Jun 5, 2026

ZDI.TO (BMO International Dividend ETF) and CPD.TO (iShares S&P/TSX Canadian Preferred Share Index ETF) are both exchange-traded funds - ZDI.TO is a International Equity fund actively managed by BMO, while CPD.TO is a Preferred Stock/Convertible Bonds fund tracking the S&P/TSX Preferred Share TR. ZDI.TO is actively managed, while CPD.TO is passively managed. Over the past 10 years, ZDI.TO returned 9.26%/yr vs 6.35%/yr for CPD.TO. At a 0.25 correlation, their price movements are largely independent. ZDI.TO charges 0.44%/yr vs 0.50%/yr for CPD.TO.

Performance

ZDI.TO vs. CPD.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO International Dividend ETF (ZDI.TO) and iShares S&P/TSX Canadian Preferred Share Index ETF (CPD.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, ZDI.TO achieves a 11.17% return, which is significantly higher than CPD.TO's 3.65% return. Over the past 10 years, ZDI.TO has outperformed CPD.TO with an annualized return of 9.26%, while CPD.TO has yielded a comparatively lower 6.35% annualized return.

ZDI.TO

1D
0.45%
1M
3.36%
YTD
11.17%
6M
9.75%
1Y
21.74%
3Y*
17.33%
5Y*
12.82%
10Y*
9.26%

CPD.TO

1D
0.07%
1M
0.65%
YTD
3.65%
6M
4.61%
1Y
13.97%
3Y*
15.91%
5Y*
5.57%
10Y*
6.35%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZDI.TO vs. CPD.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ZDI.TO
BMO International Dividend ETF		11.17%22.48%10.57%17.05%0.31%12.87%-6.21%12.96%-6.84%15.07%
CPD.TO
iShares S&P/TSX Canadian Preferred Share Index ETF		3.65%16.10%23.31%6.23%-19.19%18.85%5.35%3.35%-9.05%13.44%

Correlation

The correlation between ZDI.TO and CPD.TO is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.26

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

0.26

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

0.27

Correlation (10Y)
Calculated over the trailing 10-year period

0.27

Correlation (All Time)
Calculated using the full available price history since Nov 13, 2014

0.25

ZDI.TO vs. CPD.TO - Sectors Allocation Comparison

Sectors
ZDI.TO
CPD.TO

Financial Services

25.0%
6.3%

Industrials

19.3%

-

Healthcare

8.4%

-

Consumer Defensive

7.7%
0.5%

Energy

7.1%

-

Communication Services

7.0%

-

Utilities

6.5%

-

Consumer Cyclical

6.3%

-

Technology

4.9%

-

Basic Materials

4.9%

-

Real Estate

2.9%

-

Financial Services

ZDI.TO
25.0%
CPD.TO
6.3%

Industrials

ZDI.TO
19.3%
CPD.TO

-

Healthcare

ZDI.TO
8.4%
CPD.TO

-

Consumer Defensive

ZDI.TO
7.7%
CPD.TO
0.5%

Energy

ZDI.TO
7.1%
CPD.TO

-

Communication Services

ZDI.TO
7.0%
CPD.TO

-

Utilities

ZDI.TO
6.5%
CPD.TO

-

Consumer Cyclical

ZDI.TO
6.3%
CPD.TO

-

Technology

ZDI.TO
4.9%
CPD.TO

-

Basic Materials

ZDI.TO
4.9%
CPD.TO

-

Real Estate

ZDI.TO
2.9%
CPD.TO

-

Compare stocks, funds, or ETFs

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BMO International Dividend ETF

iShares S&P/TSX Canadian Preferred Share Index ETF

Often compared with ZDI.TO:
ZDI.TO vs. XEI.TOZDI.TO vs. VFV.TOZDI.TO vs. ZEM.TOZDI.TO vs. HXX.TOZDI.TO vs. VYMIZDI.TO vs. XEF.TOZDI.TO vs. ZDH.TO
Often compared with CPD.TO:
CPD.TO vs. XEI.TOCPD.TO vs. VDY.TOCPD.TO vs. XDIV.TOCPD.TO vs. fie.TOCPD.TO vs. VFV.TOCPD.TO vs. XAW.TOCPD.TO vs. ^GSPC

Return for Risk

ZDI.TO vs. CPD.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZDI.TO
ZDI.TO Risk / Return Rank: 4747
Overall Rank
ZDI.TO Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
ZDI.TO Sortino Ratio Rank: 4747
Sortino Ratio Rank
ZDI.TO Omega Ratio Rank: 4848
Omega Ratio Rank
ZDI.TO Calmar Ratio Rank: 4343
Calmar Ratio Rank
ZDI.TO Martin Ratio Rank: 4949
Martin Ratio Rank
CPD.TO
CPD.TO Risk / Return Rank: 9393
Overall Rank
CPD.TO Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
CPD.TO Sortino Ratio Rank: 9393
Sortino Ratio Rank
CPD.TO Omega Ratio Rank: 9696
Omega Ratio Rank
CPD.TO Calmar Ratio Rank: 8989
Calmar Ratio Rank
CPD.TO Martin Ratio Rank: 9494
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.

ZDI.TO vs. CPD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO International Dividend ETF (ZDI.TO) and iShares S&P/TSX Canadian Preferred Share Index ETF (CPD.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.

ZDI.TOCPD.TODifference
Sharpe ratioReturn per unit of total volatility
1.62
3.41

-1.79

Sortino ratioReturn per unit of downside risk
2.29
4.67

-2.38

Omega ratioGain probability vs. loss probability

1.30

1.75

-0.45

Calmar ratioReturn relative to maximum drawdown

2.13

5.20

-3.07

Martin ratioReturn relative to average drawdown

8.26

26.05

-17.78

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

ZDI.TO vs. CPD.TO - Sharpe Ratio Comparison

The current ZDI.TO Sharpe Ratio is 1.62, which is lower than the CPD.TO Sharpe Ratio of 3.41. The chart below compares the historical Sharpe Ratios of ZDI.TO and CPD.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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Sharpe Ratios by Period

ZDI.TOCPD.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.62

3.41

-1.79

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.98

0.73

+0.26

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.59

0.60

-0.01

Sharpe Ratio (All Time)

Calculated using the full available price history

0.54

0.33

+0.21

Drawdowns

ZDI.TO vs. CPD.TO - Drawdown Comparison

The maximum ZDI.TO drawdown since its inception was -33.89%, smaller than the maximum CPD.TO drawdown of -40.92%. Use the drawdown chart below to compare losses from any high point for ZDI.TO and CPD.TO.

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Drawdown Indicators

ZDI.TOCPD.TODifference

Max Drawdown

Largest peak-to-trough decline

-33.89%

-40.92%

+7.03%

Max Drawdown (1Y)

Largest decline over 1 year

-10.23%

-2.70%

-7.53%

Max Drawdown (3Y)

Largest decline over 3 years

-14.11%

-7.65%

-6.46%

Max Drawdown (5Y)

Largest decline over 5 years

-18.97%

-24.12%

+5.15%

Max Drawdown (10Y)

Largest decline over 10 years

-33.89%

-40.92%

+7.03%

Current Drawdown

Current decline from peak

-1.80%

-0.28%

-1.52%

Average Drawdown

Average peak-to-trough decline

-4.85%

-6.70%

+1.85%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.64%

0.54%

+2.10%

Volatility

ZDI.TO vs. CPD.TO - Volatility Comparison

BMO International Dividend ETF (ZDI.TO) has a higher volatility of 4.81% compared to iShares S&P/TSX Canadian Preferred Share Index ETF (CPD.TO) at 0.85%. This indicates that ZDI.TO's price experiences larger fluctuations and is considered to be riskier than CPD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZDI.TOCPD.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.81%

0.85%

+3.96%

Volatility (6M)

Calculated over the trailing 6-month period

10.97%

2.76%

+8.21%

Volatility (1Y)

Calculated over the trailing 1-year period

13.44%

4.12%

+9.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.11%

7.71%

+5.40%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.80%

10.62%

+5.18%

ZDI.TO vs. CPD.TO - Expense Ratio Comparison

ZDI.TO has a 0.44% expense ratio, which is lower than CPD.TO's 0.50% expense ratio.

Dividends

ZDI.TO vs. CPD.TO - Dividend Comparison

ZDI.TO's dividend yield for the trailing twelve months is around 3.04%, less than CPD.TO's 5.02% yield.

PositionTTM20252024202320222021202020192018201720162015
CPD.TO
iShares S&P/TSX Canadian Preferred Share Index ETF		5.02%4.96%5.11%5.88%5.53%4.17%4.96%5.02%4.74%4.33%4.85%5.44%
ZDI.TO
BMO International Dividend ETF		3.04%3.34%3.94%4.15%3.99%3.72%4.96%4.92%5.23%4.23%4.62%4.26%

Frequently Asked Questions

ZDI.TO and CPD.TO have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZDI.TO is cheaper at 0.44% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZDI.TO is cheaper with a 0.44% expense ratio, compared with 0.50% for CPD.TO.

ZDI.TO is categorized as International Equity, while CPD.TO is Preferred Stock/Convertible Bonds. They also come from different issuers: BMO and iShares. Their fees differ too: 0.44% for ZDI.TO and 0.50% for CPD.TO.

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