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ZDM.TO vs. MINT.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ZDM.TO vs. MINT.TO

Last updated Jul 16, 2026
Documentation

ZDM.TO (BMO MSCI EAFE Hedged to CAD Index ETF) and MINT.TO (Manulife Multifactor Developed International Index ETF) are both International Equity funds. ZDM.TO is passively managed, while MINT.TO is actively managed. Over the past 5 years, ZDM.TO returned 12.50%/yr vs 12.51%/yr for MINT.TO. At a 0.42 correlation, their price movements are largely independent.

Performance

ZDM.TO vs. MINT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in BMO MSCI EAFE Hedged to CAD Index ETF (ZDM.TO) and Manulife Multifactor Developed International Index ETF (MINT.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ZDM.TO achieves a 12.44% return, which is significantly higher than MINT.TO's 11.34% return.

ZDM.TO

1D
0.13%
1M
1.16%
6M
7.93%
YTD
12.44%
1Y
24.57%
3Y*
17.15%
5Y*
12.50%
10Y*
10.86%

MINT.TO

1D
-0.31%
1M
1.05%
6M
7.53%
YTD
11.34%
1Y
24.81%
3Y*
17.42%
5Y*
12.51%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

ZDM.TO vs. MINT.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ZDM.TO
BMO MSCI EAFE Hedged to CAD Index ETF		12.44%20.34%12.72%18.62%-5.78%18.93%0.25%20.03%-9.99%11.45%
MINT.TO
Manulife Multifactor Developed International Index ETF		11.34%23.42%10.91%18.04%-3.59%17.69%0.55%21.99%-10.35%13.54%

Correlation

The correlation between ZDM.TO and MINT.TO is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.67

Correlation (3Y)
Calculated over the trailing 3-year period

0.54

Correlation (5Y)
Calculated over the trailing 5-year period

0.42

Correlation (All Time)
Calculated using the full available price history since Apr 18, 2017

0.42

Over the past year, ZDM.TO and MINT.TO have become more correlated (0.67) than their long-term average of 0.42, meaning their price movements have been converging.

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BMO MSCI EAFE Hedged to CAD Index ETF

Manulife Multifactor Developed International Index ETF

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Return for Risk

ZDM.TO vs. MINT.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ZDM.TO
ZDM.TO Risk / Return Rank: 6969
Overall Rank
ZDM.TO Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
ZDM.TO Sortino Ratio Rank: 7171
Sortino Ratio Rank
ZDM.TO Omega Ratio Rank: 7373
Omega Ratio Rank
ZDM.TO Calmar Ratio Rank: 6262
Calmar Ratio Rank
ZDM.TO Martin Ratio Rank: 7171
Martin Ratio Rank
MINT.TO
MINT.TO Risk / Return Rank: 7373
Overall Rank
MINT.TO Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
MINT.TO Sortino Ratio Rank: 7676
Sortino Ratio Rank
MINT.TO Omega Ratio Rank: 7878
Omega Ratio Rank
MINT.TO Calmar Ratio Rank: 6767
Calmar Ratio Rank
MINT.TO Martin Ratio Rank: 7272
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.

ZDM.TO vs. MINT.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 Manulife Multifactor Developed International Index ETF (MINT.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.TOMINT.TODifference
Sharpe ratioReturn per unit of total volatility
1.81
1.86

-0.05

Sortino ratioReturn per unit of downside risk
2.58
2.74

-0.16

Omega ratioGain probability vs. loss probability

1.34

1.37

-0.03

Calmar ratioReturn relative to maximum drawdown

2.51

2.74

-0.22

Martin ratioReturn relative to average drawdown

10.36

10.51

-0.15

ZDM.TO vs. MINT.TO - Sharpe Ratio Comparison

The current ZDM.TO Sharpe Ratio is 1.81, which is comparable to the MINT.TO Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of ZDM.TO and MINT.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

ZDM.TO vs. MINT.TO - Drawdown Comparison

The maximum ZDM.TO drawdown since its inception was -33.45%, roughly equal to the maximum MINT.TO drawdown of -32.97%. Use the drawdown chart below to compare losses from any high point for ZDM.TO and MINT.TO.

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Drawdown Indicators

ZDM.TOMINT.TODifference

Max Drawdown

Largest peak-to-trough decline

-33.45%

-32.97%

-0.48%

Max Drawdown (1Y)

Largest decline over 1 year

-9.82%

-9.11%

-0.71%

Max Drawdown (3Y)

Largest decline over 3 years

-14.07%

-13.76%

-0.31%

Max Drawdown (5Y)

Largest decline over 5 years

-15.63%

-18.04%

+2.41%

Max Drawdown (10Y)

Largest decline over 10 years

-33.45%

—

—

Current Drawdown

Current decline from peak

-1.13%

-1.34%

+0.21%

Average Drawdown

Average peak-to-trough decline

-5.14%

-4.17%

-0.97%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.38%

2.37%

+0.01%

Volatility

ZDM.TO vs. MINT.TO - Volatility Comparison

The current volatility for BMO MSCI EAFE Hedged to CAD Index ETF (ZDM.TO) is 3.18%, while Manulife Multifactor Developed International Index ETF (MINT.TO) has a volatility of 3.95%. This indicates that ZDM.TO experiences smaller price fluctuations and is considered to be less risky than MINT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ZDM.TOMINT.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.18%

3.95%

-0.77%

Volatility (6M)

Calculated over the trailing 6-month period

11.46%

11.53%

-0.07%

Volatility (1Y)

Calculated over the trailing 1-year period

13.61%

13.39%

+0.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.88%

14.66%

-0.78%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.63%

16.63%

-1.00%

Dividends

ZDM.TO vs. MINT.TO - Dividend Comparison

ZDM.TO's dividend yield for the trailing twelve months is around 1.90%, less than MINT.TO's 2.86% yield.

PositionTTM20252024202320222021202020192018201720162015
MINT.TO
Manulife Multifactor Developed International Index ETF		2.86%5.86%2.14%2.81%2.84%2.55%1.60%2.70%2.76%1.36%0.00%0.00%
ZDM.TO
BMO MSCI EAFE Hedged to CAD Index ETF		1.90%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 MINT.TO have a correlation of 0.67, 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 Manulife.

Portfolio Optimizer

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