ZDI.TO vs. FCIQ.TO
ZDI.TO (BMO International Dividend ETF) and FCIQ.TO (Fidelity International High Quality ETF) are both International Equity funds. Both are actively managed. Over the past 5 years, ZDI.TO returned 12.57%/yr vs 6.75%/yr for FCIQ.TO. A 0.69 correlation means they provide meaningful diversification when combined. ZDI.TO charges 0.44%/yr vs 0.45%/yr for FCIQ.TO.
Performance
ZDI.TO vs. FCIQ.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZDI.TO achieves a 14.64% return, which is significantly higher than FCIQ.TO's 12.55% return.
ZDI.TO
- 1D
- 0.53%
- 1M
- 1.33%
- 6M
- 9.98%
- YTD
- 14.64%
- 1Y
- 23.10%
- 3Y*
- 16.63%
- 5Y*
- 12.57%
- 10Y*
- 9.49%
FCIQ.TO
- 1D
- 0.90%
- 1M
- 2.68%
- 6M
- 7.49%
- YTD
- 12.55%
- 1Y
- 13.05%
- 3Y*
- 13.45%
- 5Y*
- 6.75%
- 10Y*
- —
ZDI.TO vs. FCIQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ZDI.TO BMO International Dividend ETF | 14.64% | 19.42% | 10.59% | 17.04% | 0.31% | 12.86% | -6.23% | 10.46% |
FCIQ.TO Fidelity International High Quality ETF | 12.55% | 11.87% | 11.21% | 17.76% | -16.23% | 5.22% | 25.89% | 18.15% |
Correlation
The correlation between ZDI.TO and FCIQ.TO is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Jan 18, 2019 | 0.69 |
The correlation between ZDI.TO and FCIQ.TO has been stable across timeframes, ranging from 0.69 to 0.77 - a consistent structural relationship.
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Return for Risk
ZDI.TO vs. FCIQ.TO — Risk / Return Rank
ZDI.TO
FCIQ.TO
ZDI.TO vs. FCIQ.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO International Dividend ETF (ZDI.TO) and Fidelity International High Quality ETF (FCIQ.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.
| ZDI.TO | FCIQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.79 | ||
| Sortino ratioReturn per unit of downside risk | +0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.16 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.27 | 1.47 | +0.80 |
| Martin ratioReturn relative to average drawdown | 8.41 | 4.02 | +4.39 |
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Drawdowns
ZDI.TO vs. FCIQ.TO - Drawdown Comparison
The maximum ZDI.TO drawdown since its inception was -33.87%, roughly equal to the maximum FCIQ.TO drawdown of -32.88%. Use the drawdown chart below to compare losses from any high point for ZDI.TO and FCIQ.TO.
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Drawdown Indicators
| ZDI.TO | FCIQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.87% | -32.88% | -0.99% |
Max Drawdown (1Y)Largest decline over 1 year | -10.23% | -8.91% | -1.32% |
Max Drawdown (3Y)Largest decline over 3 years | -14.13% | -13.41% | -0.72% |
Max Drawdown (5Y)Largest decline over 5 years | -18.96% | -32.88% | +13.92% |
Max Drawdown (10Y)Largest decline over 10 years | -33.87% | — | — |
Current DrawdownCurrent decline from peak | -0.56% | -1.23% | +0.67% |
Average DrawdownAverage peak-to-trough decline | -4.83% | -6.85% | +2.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 3.25% | -0.50% |
Volatility
ZDI.TO vs. FCIQ.TO - Volatility Comparison
The current volatility for BMO International Dividend ETF (ZDI.TO) is 3.12%, while Fidelity International High Quality ETF (FCIQ.TO) has a volatility of 3.76%. This indicates that ZDI.TO experiences smaller price fluctuations and is considered to be less risky than FCIQ.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.TO | FCIQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.12% | 3.76% | -0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 11.27% | 12.52% | -1.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.04% | 15.16% | -1.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.28% | 14.78% | -1.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.58% | 16.56% | -0.98% |
ZDI.TO vs. FCIQ.TO - Expense Ratio Comparison
ZDI.TO has a 0.44% expense ratio, which is lower than FCIQ.TO's 0.45% expense ratio.
Dividends
ZDI.TO vs. FCIQ.TO - Dividend Comparison
ZDI.TO's dividend yield for the trailing twelve months is around 3.00%, more than FCIQ.TO's 1.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCIQ.TO Fidelity International High Quality ETF | 1.18% | 1.59% | 1.64% | 1.94% | 2.54% | 1.56% | 0.54% | 1.42% | 0.00% | 0.00% | 0.00% | 0.00% |
ZDI.TO BMO International Dividend ETF | 3.00% | 3.41% | 3.94% | 4.15% | 3.99% | 3.72% | 4.96% | 4.92% | 5.23% | 4.23% | 4.62% | 4.27% |
Frequently Asked Questions
ZDI.TO and FCIQ.TO have a correlation of 0.77, 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 0.45% for FCIQ.TO.
They also come from different issuers: BMO and Fidelity. Their fees differ too: 0.44% for ZDI.TO and 0.45% for FCIQ.TO.
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