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ZDI.TO vs. XEF-U.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ZDI.TO vs. XEF-U.TO

Last updated Apr 1, 2026

Compare and contrast key facts about BMO International Dividend ETF (ZDI.TO) and iShares Core MSCI EAFE IMI Index ETF (XEF-U.TO).

ZDI.TO and XEF-U.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZDI.TO is an actively managed fund by BMO. It was launched on Nov 5, 2014. XEF-U.TO is a passively managed fund by iShares that tracks the performance of the MSCI EAFE® Investable Market Index. It was launched on Oct 9, 2019.

Performance

ZDI.TO vs. XEF-U.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 Core MSCI EAFE IMI Index ETF (XEF-U.TO). The values are adjusted to include any dividend payments, if applicable.

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ZDI.TO vs. XEF-U.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
ZDI.TO
BMO International Dividend ETF		6.64%22.48%10.57%17.05%0.31%12.87%-6.21%2.32%
XEF-U.TO
iShares Core MSCI EAFE IMI Index ETF		1.47%25.24%11.01%13.30%-9.39%9.81%6.64%2.91%
Different Trading Currencies

ZDI.TO is traded in CAD, while XEF-U.TO is traded in USD. To make them comparable, the XEF-U.TO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ZDI.TO achieves a 6.64% return, which is significantly higher than XEF-U.TO's 1.47% return.

ZDI.TO

1D
2.56%
1M
-4.38%
YTD
6.64%
6M
9.28%
1Y
18.85%
3Y*
16.10%
5Y*
12.61%
10Y*
9.14%

XEF-U.TO

1D
2.09%
1M
-6.80%
YTD
1.47%
6M
4.54%
1Y
17.42%
3Y*
14.38%
5Y*
9.13%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

BMO International Dividend ETF

iShares Core MSCI EAFE IMI Index ETF

Often compared with ZDI.TO:
ZDI.TO vs. VFV.TOZDI.TO vs. XEI.TOZDI.TO vs. HXX.TOZDI.TO vs. ZEM.TOZDI.TO vs. VYMIZDI.TO vs. XEF.TOZDI.TO vs. ZWC.TO
Often compared with XEF-U.TO:
XEF-U.TO vs. XEF.TOXEF-U.TO vs. VEAXEF-U.TO vs. VXUSXEF-U.TO vs. IEFAXEF-U.TO vs. ZSP.TOXEF-U.TO vs. VTIXEF-U.TO vs. IEMG

ZDI.TO vs. XEF-U.TO - Expense Ratio Comparison

ZDI.TO has a 0.44% expense ratio, which is higher than XEF-U.TO's 0.21% expense ratio.

ZDI.TO
BMO International Dividend ETF
XEF-U.TO
iShares Core MSCI EAFE IMI Index ETF

Return for Risk

ZDI.TO vs. XEF-U.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: 6868
Overall Rank
ZDI.TO Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
ZDI.TO Sortino Ratio Rank: 6969
Sortino Ratio Rank
ZDI.TO Omega Ratio Rank: 6969
Omega Ratio Rank
ZDI.TO Calmar Ratio Rank: 6666
Calmar Ratio Rank
ZDI.TO Martin Ratio Rank: 6666
Martin Ratio Rank
XEF-U.TO
XEF-U.TO Risk / Return Rank: 6868
Overall Rank
XEF-U.TO Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
XEF-U.TO Sortino Ratio Rank: 6969
Sortino Ratio Rank
XEF-U.TO Omega Ratio Rank: 7070
Omega Ratio Rank
XEF-U.TO Calmar Ratio Rank: 6464
Calmar Ratio Rank
XEF-U.TO Martin Ratio Rank: 6464
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. XEF-U.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO International Dividend ETF (ZDI.TO) and iShares Core MSCI EAFE IMI Index ETF (XEF-U.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.TOXEF-U.TODifference

Sharpe ratio

Return per unit of total volatility

1.22

1.10

+0.12

Sortino ratio

Return per unit of downside risk

1.70

1.49

+0.21

Omega ratio

Gain probability vs. loss probability

1.25

1.22

+0.03

Calmar ratio

Return relative to maximum drawdown

1.64

1.27

+0.37

Martin ratio

Return relative to average drawdown

6.45

5.07

+1.37

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. XEF-U.TO - Sharpe Ratio Comparison

The current ZDI.TO Sharpe Ratio is 1.22, which is comparable to the XEF-U.TO Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of ZDI.TO and XEF-U.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

ZDI.TOXEF-U.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.22

1.10

+0.12

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.98

0.83

+0.15

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.58

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.52

0.83

-0.31

Correlation

The correlation between ZDI.TO and XEF-U.TO is 0.43, 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

ZDI.TO vs. XEF-U.TO - Dividend Comparison

ZDI.TO's dividend yield for the trailing twelve months is around 3.15%, more than XEF-U.TO's 1.78% yield.

TTM20252024202320222021202020192018201720162015
ZDI.TO
BMO International Dividend ETF		3.15%3.34%3.94%4.15%3.99%3.72%4.96%4.92%5.23%4.23%4.62%4.26%
XEF-U.TO
iShares Core MSCI EAFE IMI Index ETF		1.78%1.78%2.04%2.08%2.43%1.94%1.40%0.77%0.00%0.00%0.00%0.00%

Drawdowns

ZDI.TO vs. XEF-U.TO - Drawdown Comparison

The maximum ZDI.TO drawdown since its inception was -33.89%, which is greater than XEF-U.TO's maximum drawdown of -27.28%. Use the drawdown chart below to compare losses from any high point for ZDI.TO and XEF-U.TO.

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Drawdown Indicators

ZDI.TOXEF-U.TODifference

Max Drawdown

Largest peak-to-trough decline

-33.89%

-33.72%

-0.17%

Max Drawdown (1Y)

Largest decline over 1 year

-11.30%

-11.67%

+0.37%

Max Drawdown (5Y)

Largest decline over 5 years

-18.97%

-31.18%

+12.21%

Max Drawdown (10Y)

Largest decline over 10 years

-33.89%

—

—

Current Drawdown

Current decline from peak

-4.76%

-8.92%

+4.16%

Average Drawdown

Average peak-to-trough decline

-4.89%

-5.72%

+0.83%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.87%

3.07%

-0.20%

Volatility

ZDI.TO vs. XEF-U.TO - Volatility Comparison

The current volatility for BMO International Dividend ETF (ZDI.TO) is 6.83%, while iShares Core MSCI EAFE IMI Index ETF (XEF-U.TO) has a volatility of 8.00%. This indicates that ZDI.TO experiences smaller price fluctuations and is considered to be less risky than XEF-U.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.TOXEF-U.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.83%

8.00%

-1.17%

Volatility (6M)

Calculated over the trailing 6-month period

9.99%

10.68%

-0.69%

Volatility (1Y)

Calculated over the trailing 1-year period

15.48%

16.01%

-0.53%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.92%

17.77%

-4.85%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.74%

20.48%

-4.74%