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ZDIV.TO vs. PDIV.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZDIV.TO vs. PDIV.TO

Last updated Apr 5, 2026

Compare and contrast key facts about BMO MSCI Canada IMI High Dividend Yield Index ETF (ZDIV.TO) and Purpose Enhanced Dividend Fund ETF (PDIV.TO).

ZDIV.TO and PDIV.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZDIV.TO is a passively managed fund by BMO that tracks the performance of the MSCI Canada IMI High Dividend Yield Select Index. It was launched on Feb 5, 2026. PDIV.TO is an actively managed fund by Purpose Investments. It was launched on Jan 2, 2018.

Performance

ZDIV.TO vs. PDIV.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 Purpose Enhanced Dividend Fund ETF (PDIV.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

ZDIV.TO

1D
0.65%
1M
1.92%
YTD
—
6M
—
1Y
—
3Y*
—
5Y*
—
10Y*
—

PDIV.TO

1D
-0.11%
1M
-1.72%
YTD
1.41%
6M
4.73%
1Y
20.39%
3Y*
9.66%
5Y*
7.90%
10Y*
8.99%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)
ZDIV.TO
BMO MSCI Canada IMI High Dividend Yield Index ETF		8.16%
PDIV.TO
Purpose Enhanced Dividend Fund ETF		-0.43%

Correlation

The correlation between ZDIV.TO and PDIV.TO is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners. Combining low-correlation assets is one of the most reliable ways to reduce portfolio risk without sacrificing expected returns.

ZDIV.TO vs. PDIV.TO - Expense Ratio Comparison

ZDIV.TO has a 0.09% expense ratio, which is lower than PDIV.TO's 0.77% expense ratio.

PDIV.TO
Purpose Enhanced Dividend Fund ETF
ZDIV.TO
BMO MSCI Canada IMI High Dividend Yield Index ETF

Compare stocks, funds, or ETFs

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

BMO MSCI Canada IMI High Dividend Yield Index ETF

Purpose Enhanced Dividend Fund ETF

Often compared with ZDIV.TO:
ZDIV.TO vs. XDIV.TOZDIV.TO vs. CWIN.TOZDIV.TO vs. DXU.TOZDIV.TO vs. CDIV.TOZDIV.TO vs. FCCD.TOZDIV.TO vs. TBNK.TOZDIV.TO vs. VDY.TO
Often compared with PDIV.TO:
PDIV.TO vs. HDIV.TOPDIV.TO vs. HYLD.TOPDIV.TO vs. SPYIPDIV.TO vs. BMAXPDIV.TO vs. PMIF.TOPDIV.TO vs. EBNK.TOPDIV.TO vs. USCL.TO

Return for Risk

ZDIV.TO vs. PDIV.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZDIV.TO
PDIV.TO
PDIV.TO Risk / Return Rank: 7171
Overall Rank
PDIV.TO Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
PDIV.TO Sortino Ratio Rank: 7676
Sortino Ratio Rank
PDIV.TO Omega Ratio Rank: 8282
Omega Ratio Rank
PDIV.TO Calmar Ratio Rank: 5353
Calmar Ratio Rank
PDIV.TO Martin Ratio Rank: 6868
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.

ZDIV.TO vs. PDIV.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 Purpose Enhanced Dividend Fund ETF (PDIV.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.

ZDIV.TO vs. PDIV.TO - Sharpe Ratio Comparison

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Sharpe Ratios by Period

ZDIV.TOPDIV.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

—

1.47

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.80

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.65

—

Sharpe Ratio (All Time)

Calculated using the full available price history

7.47

0.60

+6.88

Drawdowns

ZDIV.TO vs. PDIV.TO - Drawdown Comparison

The maximum ZDIV.TO drawdown since its inception was -1.39%, smaller than the maximum PDIV.TO drawdown of -30.64%. Use the drawdown chart below to compare losses from any high point for ZDIV.TO and PDIV.TO.

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Drawdown Indicators

ZDIV.TOPDIV.TODifference

Max Drawdown

Largest peak-to-trough decline

-1.39%

-30.64%

+29.25%

Max Drawdown (1Y)

Largest decline over 1 year

—

-5.22%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-14.96%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-30.64%

—

Current Drawdown

Current decline from peak

-0.40%

-2.99%

+2.59%

Average Drawdown

Average peak-to-trough decline

-0.30%

-4.40%

+4.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

1.65%

—

Volatility

ZDIV.TO vs. PDIV.TO - Volatility Comparison

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Volatility by Period

ZDIV.TOPDIV.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

—

3.43%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

5.59%

—

Volatility (1Y)

Calculated over the trailing 1-year period

9.25%

9.54%

-0.29%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

9.25%

9.88%

-0.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

9.25%

13.96%

-4.71%

Dividends

ZDIV.TO vs. PDIV.TO - Dividend Comparison

ZDIV.TO's dividend yield for the trailing twelve months is around 0.32%, less than PDIV.TO's 12.27% yield.

TTM20252024202320222021202020192018201720162015
ZDIV.TO
BMO MSCI Canada IMI High Dividend Yield Index ETF		0.32%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
PDIV.TO
Purpose Enhanced Dividend Fund ETF		12.27%12.24%12.35%11.84%6.38%5.59%6.33%5.85%6.80%25.71%5.38%8.10%