ZDIV.TO vs. ZEQT.TO

Last updated Apr 5, 2026

Compare and contrast key facts about BMO MSCI Canada IMI High Dividend Yield Index ETF (ZDIV.TO) and BMO All-Equity ETF (ZEQT.TO).

ZDIV.TO and ZEQT.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. ZEQT.TO is an actively managed fund by BMO. It was launched on Jan 24, 2022.

Performance

ZDIV.TO vs. ZEQT.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 BMO All-Equity ETF (ZEQT.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ZDIV.TO

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

ZEQT.TO

• 1D: 0.34%
• 1M: -1.03%
• YTD: 1.34%
• 6M: 3.03%
• 1Y: 33.91%
• 3Y*: 18.67%
• 5Y*: —
• 10Y*: —

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

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

	2026 (YTD)
ZDIV.TO BMO MSCI Canada IMI High Dividend Yield Index ETF	8.16%
ZEQT.TO BMO All-Equity ETF	-1.78%

Correlation

The correlation between ZDIV.TO and ZEQT.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. ZEQT.TO - Expense Ratio Comparison

ZDIV.TO has a 0.09% expense ratio, which is lower than ZEQT.TO's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

ZEQT.TO

BMO All-Equity ETF

ZDIV.TO

BMO MSCI Canada IMI High Dividend Yield Index ETF

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ZEQT.TO

ZEQT.TO Risk / Return Rank: 65
ZEQT.TO Sharpe Ratio Rank: 69
ZEQT.TO Sortino Ratio Rank: 68
ZEQT.TO Omega Ratio Rank: 69
ZEQT.TO Calmar Ratio Rank: 58
ZEQT.TO Martin Ratio Rank: 62

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. ZEQT.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 BMO All-Equity ETF (ZEQT.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	ZEQT.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.28	—
Sharpe Ratio (All Time) Calculated using the full available price history	7.47	1.02	+6.45

Drawdowns

ZDIV.TO vs. ZEQT.TO - Drawdown Comparison

The maximum ZDIV.TO drawdown since its inception was -1.39%, smaller than the maximum ZEQT.TO drawdown of -16.87%. Use the drawdown chart below to compare losses from any high point for ZDIV.TO and ZEQT.TO.

Drawdown Indicators

	ZDIV.TO	ZEQT.TO	Difference
Max Drawdown Largest peak-to-trough decline	-1.39%	-16.87%	+15.48%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.72%	—
Current Drawdown Current decline from peak	-0.40%	-4.98%	+4.58%
Average Drawdown Average peak-to-trough decline	-0.30%	-3.09%	+2.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.82%	—

Volatility

Volatility by Period

	ZDIV.TO	ZEQT.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.46%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.89%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.25%	16.40%	-7.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.25%	13.77%	-4.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.25%	13.77%	-4.52%

Dividends

ZDIV.TO vs. ZEQT.TO - Dividend Comparison

ZDIV.TO's dividend yield for the trailing twelve months is around 0.32%, less than ZEQT.TO's 1.43% yield.

	TTM	2025	2024	2023	2022
ZDIV.TO BMO MSCI Canada IMI High Dividend Yield Index ETF	0.32%	0.00%	0.00%	0.00%	0.00%
ZEQT.TO BMO All-Equity ETF	1.43%	1.45%	1.69%	2.13%	2.43%