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

ZDI.TO vs. VGG.TO

Last updated Jun 14, 2026

ZDI.TO (BMO International Dividend ETF) and VGG.TO (Vanguard U.S. Dividend Appreciation Index ETF) are both exchange-traded funds - ZDI.TO is a International Equity fund actively managed by BMO, while VGG.TO is a Dividend fund tracking the S&P U.S. Dividend Growers Index. ZDI.TO is actively managed, while VGG.TO is passively managed. Over the past 10 years, ZDI.TO returned 9.90%/yr vs 13.63%/yr for VGG.TO. A 0.60 correlation means they provide meaningful diversification when combined. ZDI.TO charges 0.44%/yr vs 0.30%/yr for VGG.TO.

Performance

ZDI.TO vs. VGG.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO International Dividend ETF (ZDI.TO) and Vanguard U.S. Dividend Appreciation Index ETF (VGG.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 12.58% return, which is significantly higher than VGG.TO's 9.29% return. Over the past 10 years, ZDI.TO has underperformed VGG.TO with an annualized return of 9.90%, while VGG.TO has yielded a comparatively higher 13.63% annualized return.

ZDI.TO

1D
0.60%
1M
3.66%
YTD
12.58%
6M
8.52%
1Y
21.53%
3Y*
16.51%
5Y*
12.30%
10Y*
9.90%

VGG.TO

1D
0.63%
1M
4.36%
YTD
9.29%
6M
8.38%
1Y
22.50%
3Y*
17.25%
5Y*
13.27%
10Y*
13.63%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
ZDI.TO
BMO International Dividend ETF		12.58%19.42%10.59%17.04%0.31%12.86%-6.23%13.00%-6.86%15.11%
VGG.TO
Vanguard U.S. Dividend Appreciation Index ETF		9.29%8.61%26.49%11.58%-4.21%22.23%12.67%23.32%5.20%13.99%

Correlation

The correlation between ZDI.TO and VGG.TO is 0.65, 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

0.65

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

0.55

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

0.57

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

0.60

Correlation (All Time)
Calculated using the full available price history since Nov 12, 2014

0.60

The correlation between ZDI.TO and VGG.TO shifts across timeframes, from 0.55 (3 years) to 0.65 (1 year), reflecting how their relationship changes across market environments.

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

Sectors
ZDI.TO
VGG.TO

Financial Services

24.8%
20.6%

Industrials

16.9%
11.8%

Healthcare

8.2%
16.5%

Technology

7.7%
26.2%

Energy

7.1%
3.5%

Consumer Defensive

6.9%
10.1%

Communication Services

6.7%
0.5%

Utilities

6.2%
3.2%

Basic Materials

5.8%
3.5%

Consumer Cyclical

5.4%
4.7%

Real Estate

2.7%

-

Financial Services

ZDI.TO
24.8%
VGG.TO
20.6%

Industrials

ZDI.TO
16.9%
VGG.TO
11.8%

Healthcare

ZDI.TO
8.2%
VGG.TO
16.5%

Technology

ZDI.TO
7.7%
VGG.TO
26.2%

Energy

ZDI.TO
7.1%
VGG.TO
3.5%

Consumer Defensive

ZDI.TO
6.9%
VGG.TO
10.1%

Communication Services

ZDI.TO
6.7%
VGG.TO
0.5%

Utilities

ZDI.TO
6.2%
VGG.TO
3.2%

Basic Materials

ZDI.TO
5.8%
VGG.TO
3.5%

Consumer Cyclical

ZDI.TO
5.4%
VGG.TO
4.7%

Real Estate

ZDI.TO
2.7%
VGG.TO

-

Compare stocks, funds, or ETFs

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BMO International Dividend ETF

Vanguard U.S. Dividend Appreciation Index ETF

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Often compared with VGG.TO:
VGG.TO vs. VFV.TOVGG.TO vs. VIGVGG.TO vs. SCHDVGG.TO vs. VUN.TOVGG.TO vs. ZUQ.TOVGG.TO vs. DGROVGG.TO vs. ZNQ.TO

Return for Risk

ZDI.TO vs. VGG.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: 4646
Overall Rank
ZDI.TO Sharpe Ratio Rank: 4646
Sharpe Ratio Rank
ZDI.TO Sortino Ratio Rank: 4444
Sortino Ratio Rank
ZDI.TO Omega Ratio Rank: 4646
Omega Ratio Rank
ZDI.TO Calmar Ratio Rank: 4444
Calmar Ratio Rank
ZDI.TO Martin Ratio Rank: 4949
Martin Ratio Rank
VGG.TO
VGG.TO Risk / Return Rank: 7171
Overall Rank
VGG.TO Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
VGG.TO Sortino Ratio Rank: 7575
Sortino Ratio Rank
VGG.TO Omega Ratio Rank: 7171
Omega Ratio Rank
VGG.TO Calmar Ratio Rank: 6868
Calmar Ratio Rank
VGG.TO Martin Ratio Rank: 6969
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. VGG.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO International Dividend ETF (ZDI.TO) and Vanguard U.S. Dividend Appreciation Index ETF (VGG.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.TOVGG.TODifference
Sharpe ratioReturn per unit of total volatility
1.41
2.03

-0.62

Sortino ratioReturn per unit of downside risk
1.99
2.91

-0.92

Omega ratioGain probability vs. loss probability

1.26

1.36

-0.10

Calmar ratioReturn relative to maximum drawdown

1.94

2.97

-1.03

Martin ratioReturn relative to average drawdown

7.24

11.06

-3.82

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

The current ZDI.TO Sharpe Ratio is 1.41, which is lower than the VGG.TO Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of ZDI.TO and VGG.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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Drawdowns

ZDI.TO vs. VGG.TO - Drawdown Comparison

The maximum ZDI.TO drawdown since its inception was -33.87%, which is greater than VGG.TO's maximum drawdown of -24.58%. Use the drawdown chart below to compare losses from any high point for ZDI.TO and VGG.TO.

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Drawdown Indicators

ZDI.TOVGG.TODifference

Max Drawdown

Largest peak-to-trough decline

-33.87%

-24.58%

-9.29%

Max Drawdown (1Y)

Largest decline over 1 year

-10.23%

-7.07%

-3.16%

Max Drawdown (3Y)

Largest decline over 3 years

-14.13%

-15.56%

+1.43%

Max Drawdown (5Y)

Largest decline over 5 years

-18.96%

-18.52%

-0.44%

Max Drawdown (10Y)

Largest decline over 10 years

-33.87%

-24.58%

-9.29%

Current Drawdown

Current decline from peak

-0.55%

0.00%

-0.55%

Average Drawdown

Average peak-to-trough decline

-4.85%

-2.93%

-1.92%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.75%

1.90%

+0.85%

Volatility

ZDI.TO vs. VGG.TO - Volatility Comparison

BMO International Dividend ETF (ZDI.TO) has a higher volatility of 5.18% compared to Vanguard U.S. Dividend Appreciation Index ETF (VGG.TO) at 3.08%. This indicates that ZDI.TO's price experiences larger fluctuations and is considered to be riskier than VGG.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.TOVGG.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.18%

3.08%

+2.10%

Volatility (6M)

Calculated over the trailing 6-month period

11.72%

8.03%

+3.69%

Volatility (1Y)

Calculated over the trailing 1-year period

14.09%

10.34%

+3.75%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.26%

12.67%

+0.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.80%

14.99%

+0.81%

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

ZDI.TO has a 0.44% expense ratio, which is higher than VGG.TO's 0.30% expense ratio.

Dividends

ZDI.TO vs. VGG.TO - Dividend Comparison

ZDI.TO's dividend yield for the trailing twelve months is around 3.04%, more than VGG.TO's 1.01% yield.

PositionTTM20252024202320222021202020192018201720162015
VGG.TO
Vanguard U.S. Dividend Appreciation Index ETF		1.01%1.16%1.23%1.37%1.35%1.21%1.25%1.24%1.50%1.45%1.63%1.70%
ZDI.TO
BMO International Dividend ETF		3.04%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 VGG.TO have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VGG.TO is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VGG.TO is cheaper with a 0.30% expense ratio, compared with 0.44% for ZDI.TO.

ZDI.TO is categorized as International Equity, while VGG.TO is Dividend. They also come from different issuers: BMO and Vanguard. Their fees differ too: 0.44% for ZDI.TO and 0.30% for VGG.TO.

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