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

ZDM.TO vs. ZAG.TO

Last updated Apr 1, 2026

Compare and contrast key facts about BMO MSCI EAFE Hedged to CAD Index ETF (ZDM.TO) and BMO Aggregate Bond Index ETF (ZAG.TO).

ZDM.TO and ZAG.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZDM.TO is a passively managed fund by BMO that tracks the performance of the MSCI EAFE 100% Hedged to CAD Index. It was launched on Oct 20, 2009. ZAG.TO is a passively managed fund by BMO that tracks the performance of the FTSE Canada Universe Bond Index. It was launched on Jan 19, 2010. Both ZDM.TO and ZAG.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ZDM.TO vs. ZAG.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 BMO Aggregate Bond Index ETF (ZAG.TO). The values are adjusted to include any dividend payments, if applicable.

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

2026 (YTD)202520242023202220212020201920182017
ZDM.TO
BMO MSCI EAFE Hedged to CAD Index ETF		2.47%20.34%12.72%18.62%-5.78%18.93%0.25%23.21%-10.06%16.18%
ZAG.TO
BMO Aggregate Bond Index ETF		0.04%2.25%4.48%6.41%-11.60%-2.60%8.34%6.84%1.12%2.45%

Returns By Period

In the year-to-date period, ZDM.TO achieves a 2.47% return, which is significantly higher than ZAG.TO's 0.04% return. Over the past 10 years, ZDM.TO has outperformed ZAG.TO with an annualized return of 10.59%, while ZAG.TO has yielded a comparatively lower 1.66% annualized return.

ZDM.TO

1D
2.49%
1M
-5.42%
YTD
2.47%
6M
7.97%
1Y
18.63%
3Y*
14.85%
5Y*
11.11%
10Y*
10.59%

ZAG.TO

1D
0.15%
1M
-2.08%
YTD
0.04%
6M
-0.26%
1Y
0.56%
3Y*
3.34%
5Y*
0.58%
10Y*
1.66%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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BMO MSCI EAFE Hedged to CAD Index ETF

BMO Aggregate Bond Index ETF

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

ZDM.TO has a 0.22% expense ratio, which is higher than ZAG.TO's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

ZDM.TO
BMO MSCI EAFE Hedged to CAD Index ETF
ZAG.TO
BMO Aggregate Bond Index ETF

Return for Risk

ZDM.TO vs. ZAG.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: 6262
Overall Rank
ZDM.TO Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
ZDM.TO Sortino Ratio Rank: 6464
Sortino Ratio Rank
ZDM.TO Omega Ratio Rank: 6767
Omega Ratio Rank
ZDM.TO Calmar Ratio Rank: 5454
Calmar Ratio Rank
ZDM.TO Martin Ratio Rank: 6060
Martin Ratio Rank
ZAG.TO
ZAG.TO Risk / Return Rank: 1616
Overall Rank
ZAG.TO Sharpe Ratio Rank: 1616
Sharpe Ratio Rank
ZAG.TO Sortino Ratio Rank: 1313
Sortino Ratio Rank
ZAG.TO Omega Ratio Rank: 1313
Omega Ratio Rank
ZAG.TO Calmar Ratio Rank: 1919
Calmar Ratio Rank
ZAG.TO Martin Ratio Rank: 1717
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. ZAG.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 BMO Aggregate Bond Index ETF (ZAG.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.TOZAG.TODifference

Sharpe ratio

Return per unit of total volatility

1.12

0.12

+1.00

Sortino ratio

Return per unit of downside risk

1.64

0.19

+1.45

Omega ratio

Gain probability vs. loss probability

1.25

1.02

+0.22

Calmar ratio

Return relative to maximum drawdown

1.38

0.30

+1.08

Martin ratio

Return relative to average drawdown

5.96

0.60

+5.36

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. ZAG.TO - Sharpe Ratio Comparison

The current ZDM.TO Sharpe Ratio is 1.12, which is higher than the ZAG.TO Sharpe Ratio of 0.12. The chart below compares the historical Sharpe Ratios of ZDM.TO and ZAG.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

ZDM.TOZAG.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.12

0.12

+1.00

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.82

0.09

+0.73

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.67

0.24

+0.44

Sharpe Ratio (All Time)

Calculated using the full available price history

0.50

0.44

+0.06

Correlation

The correlation between ZDM.TO and ZAG.TO is -0.18. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

ZDM.TO vs. ZAG.TO - Dividend Comparison

ZDM.TO's dividend yield for the trailing twelve months is around 2.04%, less than ZAG.TO's 3.48% yield.

TTM20252024202320222021202020192018201720162015
ZDM.TO
BMO MSCI EAFE Hedged to CAD Index ETF		2.04%2.13%2.71%2.97%3.20%2.38%2.80%2.90%3.21%2.41%3.23%2.46%
ZAG.TO
BMO Aggregate Bond Index ETF		3.48%3.48%3.44%3.47%3.56%3.04%2.88%3.03%2.92%2.95%3.07%3.13%

Drawdowns

ZDM.TO vs. ZAG.TO - Drawdown Comparison

The maximum ZDM.TO drawdown since its inception was -33.13%, which is greater than ZAG.TO's maximum drawdown of -18.03%. Use the drawdown chart below to compare losses from any high point for ZDM.TO and ZAG.TO.

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Drawdown Indicators

ZDM.TOZAG.TODifference

Max Drawdown

Largest peak-to-trough decline

-33.13%

-18.03%

-15.10%

Max Drawdown (1Y)

Largest decline over 1 year

-11.25%

-2.84%

-8.41%

Max Drawdown (5Y)

Largest decline over 5 years

-15.63%

-15.77%

+0.14%

Max Drawdown (10Y)

Largest decline over 10 years

-33.13%

-18.03%

-15.10%

Current Drawdown

Current decline from peak

-5.97%

-2.71%

-3.26%

Average Drawdown

Average peak-to-trough decline

-5.16%

-3.56%

-1.60%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.75%

1.41%

+1.34%

Volatility

ZDM.TO vs. ZAG.TO - Volatility Comparison

BMO MSCI EAFE Hedged to CAD Index ETF (ZDM.TO) has a higher volatility of 6.56% compared to BMO Aggregate Bond Index ETF (ZAG.TO) at 1.90%. This indicates that ZDM.TO's price experiences larger fluctuations and is considered to be riskier than ZAG.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.TOZAG.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.56%

1.90%

+4.66%

Volatility (6M)

Calculated over the trailing 6-month period

9.79%

2.96%

+6.83%

Volatility (1Y)

Calculated over the trailing 1-year period

16.82%

4.65%

+12.17%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.63%

6.53%

+7.10%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.80%

7.09%

+8.71%