ZDIV.TO vs. CAGE.TO

Last updated Apr 15, 2026

ZDIV.TO (BMO MSCI Canada IMI High Dividend Yield Index ETF) and CAGE.TO (Avantis CIBC All-Equity Asset Allocation ETF) are both exchange-traded funds — ZDIV.TO is a Dividend fund tracking the MSCI Canada IMI High Dividend Yield Select Index, while CAGE.TO is a Global Equities fund actively managed by Avantis. ZDIV.TO is passively managed, while CAGE.TO is actively managed. At 0.30, their price movements are largely independent.

Performance

ZDIV.TO vs. CAGE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO MSCI Canada IMI High Dividend Yield Index ETF (ZDIV.TO) and Avantis CIBC All-Equity Asset Allocation ETF (CAGE.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ZDIV.TO

• 1D: -0.49%
• 1M: 1.25%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CAGE.TO

• 1D: 0.42%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ZDIV.TO vs. CAGE.TO - Yearly Performance Comparison

	2026 (YTD)
ZDIV.TO BMO MSCI Canada IMI High Dividend Yield Index ETF	0.91%
CAGE.TO Avantis CIBC All-Equity Asset Allocation ETF	6.20%

Correlation

The correlation between ZDIV.TO and CAGE.TO is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 19, 2026	0.30

Return for Risk

ZDIV.TO vs. CAGE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BMO MSCI Canada IMI High Dividend Yield Index ETF (ZDIV.TO) and Avantis CIBC All-Equity Asset Allocation ETF (CAGE.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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ZDIV.TO	CAGE.TO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	6.08	7.84	-1.76

Drawdowns

ZDIV.TO vs. CAGE.TO - Drawdown Comparison

The maximum ZDIV.TO drawdown since its inception was -1.39%, smaller than the maximum CAGE.TO drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for ZDIV.TO and CAGE.TO.

Drawdown Indicators

	ZDIV.TO	CAGE.TO	Difference
Max Drawdown Largest peak-to-trough decline	-1.39%	-2.93%	+1.54%
Current Drawdown Current decline from peak	-0.67%	0.00%	-0.67%
Average Drawdown Average peak-to-trough decline	-0.31%	-0.54%	+0.23%

Volatility

Volatility by Period

	ZDIV.TO	CAGE.TO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	9.04%	17.37%	-8.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.04%	17.37%	-8.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.04%	17.37%	-8.33%

Dividends

ZDIV.TO vs. CAGE.TO - Dividend Comparison

ZDIV.TO's dividend yield for the trailing twelve months is around 0.32%, while CAGE.TO has not paid dividends to shareholders.

	TTM
ZDIV.TO BMO MSCI Canada IMI High Dividend Yield Index ETF	0.32%
CAGE.TO Avantis CIBC All-Equity Asset Allocation ETF	0.00%