ZDM.TO vs. VIDY.TO

Last updated Jun 4, 2026

ZDM.TO (BMO MSCI EAFE Hedged to CAD Index ETF) and VIDY.TO (Vanguard FTSE Developed ex North America High Dividend Yield Index ETF) are both exchange-traded funds - ZDM.TO is a International Equity fund tracking the MSCI EAFE 100% Hedged to CAD Index, while VIDY.TO is a Foreign Large Cap Equities fund tracking the FTSE Developed ex North America High Dividend Yield Index. Both are passively managed. Over the past 5 years, ZDM.TO returned 11.74%/yr vs 15.12%/yr for VIDY.TO. A 0.70 correlation means they provide meaningful diversification when combined. ZDM.TO charges 0.22%/yr vs 0.31%/yr for VIDY.TO.

Performance

ZDM.TO vs. VIDY.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 Vanguard FTSE Developed ex North America High Dividend Yield Index ETF (VIDY.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZDM.TO achieves a 9.30% return, which is significantly lower than VIDY.TO's 10.45% return.

ZDM.TO

• 1D: -0.58%
• 1M: 4.80%
• YTD: 9.30%
• 6M: 11.27%
• 1Y: 21.75%
• 3Y*: 15.99%
• 5Y*: 11.74%
• 10Y*: 10.97%

VIDY.TO

• 1D: -0.53%
• 1M: 3.26%
• YTD: 10.45%
• 6M: 11.80%
• 1Y: 27.71%
• 3Y*: 22.64%
• 5Y*: 15.12%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
ZDM.TO BMO MSCI EAFE Hedged to CAD Index ETF	9.30%	20.34%	12.72%	18.62%	-5.78%	18.93%	0.25%	23.21%	-11.45%
VIDY.TO Vanguard FTSE Developed ex North America High Dividend Yield Index ETF	10.45%	34.37%	13.41%	15.46%	1.54%	14.21%	-2.65%	13.21%	-5.68%

Correlation

The correlation between ZDM.TO and VIDY.TO is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (All Time) Calculated using the full available price history since Aug 29, 2018	0.70

The correlation between ZDM.TO and VIDY.TO has been stable across timeframes, ranging from 0.70 to 0.79 - a consistent structural relationship.

ZDM.TO vs. VIDY.TO - Sectors Allocation Comparison

Sectors	ZDM.TO	VIDY.TO
Financial Services	24.1%	40.7%
Industrials	19.6%	7.1%
Healthcare	11.1%	9.4%
Technology	9.5%	1.3%
Consumer Cyclical	7.9%	7.2%
Consumer Defensive	7.1%	8.8%
Basic Materials	5.8%	6.3%
Communication Services	4.6%	4.4%
Energy	4.3%	7.2%
Utilities	3.9%	6.4%
Real Estate	1.9%	1.3%

Return for Risk

ZDM.TO vs. VIDY.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: 50
ZDM.TO Sharpe Ratio Rank: 48
ZDM.TO Sortino Ratio Rank: 50
ZDM.TO Omega Ratio Rank: 51
ZDM.TO Calmar Ratio Rank: 45
ZDM.TO Martin Ratio Rank: 54

VIDY.TO

VIDY.TO Risk / Return Rank: 59
VIDY.TO Sharpe Ratio Rank: 62
VIDY.TO Sortino Ratio Rank: 62
VIDY.TO Omega Ratio Rank: 62
VIDY.TO Calmar Ratio Rank: 53
VIDY.TO Martin Ratio Rank: 57

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. VIDY.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 Vanguard FTSE Developed ex North America High Dividend Yield Index ETF (VIDY.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.

	ZDM.TO	VIDY.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.68	2.11	-0.43
Sortino ratio: Return per unit of downside risk	2.42	2.94	-0.52
Omega ratio: Gain probability vs. loss probability	1.32	1.38	-0.07
Calmar ratio: Return relative to maximum drawdown	2.23	2.66	-0.42
Martin ratio: Return relative to average drawdown	9.31	10.28	-0.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current ZDM.TO Sharpe Ratio is 1.68, which is comparable to the VIDY.TO Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of ZDM.TO and VIDY.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.

Sharpe Ratios by Period

	ZDM.TO	VIDY.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.68	2.11	-0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.86	1.13	-0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.70	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.72	-0.20

Drawdowns

ZDM.TO vs. VIDY.TO - Drawdown Comparison

The maximum ZDM.TO drawdown since its inception was -33.13%, roughly equal to the maximum VIDY.TO drawdown of -31.99%. Use the drawdown chart below to compare losses from any high point for ZDM.TO and VIDY.TO.

Drawdown Indicators

	ZDM.TO	VIDY.TO	Difference
Max Drawdown Largest peak-to-trough decline	-33.13%	-31.99%	-1.14%
Max Drawdown (1Y) Largest decline over 1 year	-9.82%	-10.48%	+0.66%
Max Drawdown (3Y) Largest decline over 3 years	-14.07%	-13.89%	-0.18%
Max Drawdown (5Y) Largest decline over 5 years	-15.63%	-19.02%	+3.39%
Max Drawdown (10Y) Largest decline over 10 years	-33.13%	—	—
Current Drawdown Current decline from peak	-1.61%	-2.28%	+0.67%
Average Drawdown Average peak-to-trough decline	-5.13%	-4.25%	-0.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.35%	2.70%	-0.35%

Volatility

ZDM.TO vs. VIDY.TO - Volatility Comparison

BMO MSCI EAFE Hedged to CAD Index ETF (ZDM.TO) has a higher volatility of 4.83% compared to Vanguard FTSE Developed ex North America High Dividend Yield Index ETF (VIDY.TO) at 4.18%. This indicates that ZDM.TO's price experiences larger fluctuations and is considered to be riskier than VIDY.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZDM.TO	VIDY.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.83%	4.18%	+0.65%
Volatility (6M) Calculated over the trailing 6-month period	10.72%	10.59%	+0.13%
Volatility (1Y) Calculated over the trailing 1-year period	13.05%	13.21%	-0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.83%	13.41%	+0.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.83%	16.44%	-0.61%

ZDM.TO vs. VIDY.TO - Expense Ratio Comparison

ZDM.TO has a 0.22% expense ratio, which is lower than VIDY.TO's 0.31% expense ratio.

Dividends

ZDM.TO vs. VIDY.TO - Dividend Comparison

ZDM.TO's dividend yield for the trailing twelve months is around 1.91%, less than VIDY.TO's 2.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VIDY.TO Vanguard FTSE Developed ex North America High Dividend Yield Index ETF	2.47%	2.80%	3.59%	3.89%	4.37%	3.28%	3.34%	3.36%	0.93%	0.00%	0.00%	0.00%
ZDM.TO BMO MSCI EAFE Hedged to CAD Index ETF	1.91%	2.13%	2.71%	2.97%	3.20%	2.38%	2.80%	2.90%	3.21%	2.41%	3.23%	2.46%

Frequently Asked Questions

Can I hold both ZDM.TO and VIDY.TO in my portfolio?

ZDM.TO and VIDY.TO have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZDM.TO or VIDY.TO?

On fees, ZDM.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZDM.TO or VIDY.TO?

ZDM.TO is cheaper with a 0.22% expense ratio, compared with 0.31% for VIDY.TO.

What is the main difference between ZDM.TO and VIDY.TO?

ZDM.TO is categorized as International Equity, while VIDY.TO is Foreign Large Cap Equities. ZDM.TO tracks MSCI EAFE 100% Hedged to CAD Index, while VIDY.TO tracks FTSE Developed ex North America High Dividend Yield Index. They also come from different issuers: BMO and Vanguard. Their fees differ too: 0.22% for ZDM.TO and 0.31% for VIDY.TO.