ZDM.TO vs. DXW.TO
ZDM.TO (BMO MSCI EAFE Hedged to CAD Index ETF) and DXW.TO (Dynamic Active International Dividend ETF) are both International Equity funds. ZDM.TO is passively managed, while DXW.TO is actively managed. Over the past 5 years, ZDM.TO returned 12.31%/yr vs 4.91%/yr for DXW.TO. At a 0.36 correlation, their price movements are largely independent.
Performance
ZDM.TO vs. DXW.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ZDM.TO achieves a 11.48% return, which is significantly higher than DXW.TO's 10.47% return.
ZDM.TO
- 1D
- -0.39%
- 1M
- -0.12%
- 6M
- 6.77%
- YTD
- 11.48%
- 1Y
- 22.92%
- 3Y*
- 16.59%
- 5Y*
- 12.31%
- 10Y*
- 10.75%
DXW.TO
- 1D
- 0.11%
- 1M
- 2.13%
- 6M
- 5.61%
- YTD
- 10.47%
- 1Y
- 17.73%
- 3Y*
- 11.90%
- 5Y*
- 4.91%
- 10Y*
- —
ZDM.TO vs. DXW.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ZDM.TO BMO MSCI EAFE Hedged to CAD Index ETF | 11.48% | 20.34% | 12.72% | 18.62% | -5.78% | 18.93% | -2.75% |
DXW.TO Dynamic Active International Dividend ETF | 10.47% | 20.35% | 0.97% | 15.88% | -18.80% | 9.57% | 16.97% |
Correlation
The correlation between ZDM.TO and DXW.TO is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2020 | 0.36 |
The correlation between ZDM.TO and DXW.TO shifts across timeframes, from 0.20 (1 year) to 0.38 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ZDM.TO vs. DXW.TO — Risk / Return Rank
ZDM.TO
DXW.TO
ZDM.TO vs. DXW.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO MSCI EAFE Hedged to CAD Index ETF (ZDM.TO) and Dynamic Active International Dividend ETF (DXW.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.
| ZDM.TO | DXW.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.24 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 1.74 | +0.60 |
| Martin ratioReturn relative to average drawdown | 9.64 | 5.89 | +3.76 |
Loading charts...
Drawdowns
ZDM.TO vs. DXW.TO - Drawdown Comparison
The maximum ZDM.TO drawdown since its inception was -33.45%, which is greater than DXW.TO's maximum drawdown of -30.99%. Use the drawdown chart below to compare losses from any high point for ZDM.TO and DXW.TO.
Loading charts...
Drawdown Indicators
| ZDM.TO | DXW.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.45% | -30.99% | -2.46% |
Max Drawdown (1Y)Largest decline over 1 year | -9.82% | -10.23% | +0.41% |
Max Drawdown (3Y)Largest decline over 3 years | -14.07% | -14.39% | +0.32% |
Max Drawdown (5Y)Largest decline over 5 years | -15.63% | -30.99% | +15.36% |
Max Drawdown (10Y)Largest decline over 10 years | -33.45% | — | — |
Current DrawdownCurrent decline from peak | -1.97% | -1.15% | -0.82% |
Average DrawdownAverage peak-to-trough decline | -5.13% | -7.51% | +2.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.38% | 3.02% | -0.64% |
Volatility
ZDM.TO vs. DXW.TO - Volatility Comparison
The current volatility for BMO MSCI EAFE Hedged to CAD Index ETF (ZDM.TO) is 3.23%, while Dynamic Active International Dividend ETF (DXW.TO) has a volatility of 3.75%. This indicates that ZDM.TO experiences smaller price fluctuations and is considered to be less risky than DXW.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ZDM.TO | DXW.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.23% | 3.75% | -0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 11.48% | 12.05% | -0.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.62% | 14.35% | -0.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.87% | 14.40% | -0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.63% | 16.81% | -1.18% |
Dividends
ZDM.TO vs. DXW.TO - Dividend Comparison
ZDM.TO's dividend yield for the trailing twelve months is around 1.92%, more than DXW.TO's 1.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DXW.TO Dynamic Active International Dividend ETF | 1.57% | 2.38% | 2.21% | 1.94% | 2.36% | 1.35% | 0.97% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZDM.TO BMO MSCI EAFE Hedged to CAD Index ETF | 1.92% | 2.13% | 2.71% | 2.97% | 3.20% | 2.38% | 2.80% | 2.97% | 3.29% | 2.47% | 3.30% | 2.53% |
Frequently Asked Questions
ZDM.TO and DXW.TO have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: BMO and Dynamic.
Find the right allocation for ZDM.TO and DXW.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer